Think paying everything in cash is the best way to stay financially secure? Think again. In this episode, we explore why having no credit history can actually hurt you when it’s time to apply for a home loan—and what you can do to build a solid credit profile.

We’re joined by Kevin James, General Manager at Equifax, who unpacks the ins and outs of credit scores: what they are, how they’re calculated, and why they matter. You’ll learn how things like paying your bills on time and being mindful of your credit applications can positively impact your score. Kevin also clears up misconceptions about buy-now-pay-later services and why they don’t do much to boost your creditworthiness.

If your credit score isn’t where you’d like it to be, don’t worry—we’ve got you covered. Kevin shares practical steps for repairing a bad score, including how to check your credit report for free and the importance of working with your lender when times get tough. He also talks about the surprising benefits of small financial habits, like managing a credit card or phone plan in your name.

This episode is your guide to understanding and improving your credit score, helping you get closer to your goal of homeownership. Listen now and take that next step toward financial confidence!

Episode Highlights:

00:00 - Introduction

01:59 - Who is Kevin James?

03:30 - What does a credit score actually look like?

04:55 - What behaviours or actions impact a credit score?

06:49 - When does one start getting a credit score?

08:40 - Full payment vs. Minimum payment on credit card bill: what’s best for your credit score?

09:27 - How does “buy now, pay later” services like Afterpay influence a credit score?

10:36 - Why are credit scores important for first home buyers?

12:03 - How to find out what your credit score is

15:07 - How does one get a bad credit score

18:24 - How do you repair a bad credit score

22:31 - What impact does applying for multiple credit products have on a credit score?

25:26 - The role of AI in calculating credit scores

26:21 - Can parents managing bills hinder credit building for adult children?

28:54 - Why does Money Smart advise against paying for credit score repair services?

33:34 - What Kevin wishes he knew about credit scores as a first home buyer

About Our Guest:

Kevin James is the Chief Solutions Officer at Equifax Australia, leveraging his deep expertise in credit scores and financial analytics. With over six years at Equifax, including leading Advisory & Analytics Consultancy Services, Kevin has built a reputation for delivering strategic insights and innovative solutions. Known for his passion and ability to engage on complex topics, he previously held leadership roles at ANZ, focusing on customer engagement and risk strategy. Based in Melbourne, Australia, Kevin is a recognised thought leader in financial services.

Connect with Kevin James:


LinkedIn https://au.linkedin.com/in/kevin-james-b1b0b558

Resources:


FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse


Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers


Visit our website https://www.homebuyeracademy.com.au/


Join our Facebook Group to get access to free monthly live Q&A sessions


https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia


Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG


If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au


Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au


Work with Veronica: https://www.veronicamorgan.com.au


Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/


Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!


Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast


Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825


Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

 

Think paying everything in cash is the best way to stay financially secure? Think again. In this episode, we explore why having no credit history can actually hurt you when it&rsquo;s time to apply for a home loan&mdash;and what you can do to build a solid credit profile.
We&rsquo;re joined by Kevin James, General Manager at Equifax, who unpacks the ins and outs of credit scores: what they are, how they&rsquo;re calculated, and why they matter. You&rsquo;ll learn how things like paying your bills on time and being mindful of your credit applications can positively impact your score. Kevin also clears up misconceptions about buy-now-pay-later services and why they don&rsquo;t do much to boost your creditworthiness.
If your credit score isn&rsquo;t where you&rsquo;d like it to be, don&rsquo;t worry&mdash;we&rsquo;ve got you covered. Kevin shares practical steps for repairing a bad score, including how to check your credit report for free and the importance of working with your lender when times get tough. He also talks about the surprising benefits of small financial habits, like managing a credit card or phone plan in your name.
This episode is your guide to understanding and improving your credit score, helping you get closer to your goal of homeownership. Listen now and take that next step toward financial confidence!
Episode Highlights:
00:00 - Introduction
01:59 - Who is Kevin James?
03:30 - What does a credit score actually look like?
04:55 - What behaviours or actions impact a credit score?
06:49 - When does one start getting a credit score?
08:40 - Full payment vs. Minimum payment on credit card bill: what&rsquo;s best for your credit score?
09:27 - How does &ldquo;buy now, pay later&rdquo; services like Afterpay influence a credit score?
10:36 - Why are credit scores important for first home buyers?
12:03 - How to find out what your credit score is
15:07 - How does one get a bad credit score
18:24 - How do you repair a bad credit score
22:31 - What impact does applying for multiple credit products have on a credit score?
25:26 - The role of AI in calculating credit scores
26:21 - Can parents managing bills hinder credit building for adult children?
28:54 - Why does Money Smart advise against paying for credit score repair services?
33:34 - What Kevin wishes he knew about credit scores as a first home buyer
About Our Guest:
Kevin James is the Chief Solutions Officer at Equifax Australia, leveraging his deep expertise in credit scores and financial analytics. With over six years at Equifax, including leading Advisory &amp; Analytics Consultancy Services, Kevin has built a reputation for delivering strategic insights and innovative solutions. Known for his passion and ability to engage on complex topics, he previously held leadership roles at ANZ, focusing on customer engagement and risk strategy. Based in Melbourne, Australia, Kevin is a recognised thought leader in financial services.
Connect with Kevin James:
<ul>
<li dir="ltr" aria-level="1">
LinkedIn <a href="https://au.linkedin.com/in/kevin-james-b1b0b558">https://au.linkedin.com/in/kevin-james-b1b0b558</a>
</li>
</ul>
Resources:
<ul>
<li dir="ltr" aria-level="1">
FREE MINI COURSE: How to price property like a professional <a href="https://www.homebuyeracademy.com.au/freecourse">https://www.homebuyeracademy.com.au/freecourse</a>
</li>
<li dir="ltr" aria-level="1">
Meet our recommended mortgage brokers at Home Buyer Academy <a href="https://homebuyeracademy.com.au/brokers">https://homebuyeracademy.com.au/brokers</a>
</li>
<li dir="ltr" aria-level="1">
Visit our website <a href="https://www.homebuyeracademy.com.au/">https://www.homebuyeracademy.com.au/</a>
</li>
<li dir="ltr" aria-level="1">
Join our Facebook Group to get access to free monthly live Q&amp;A sessions
</li>
<li dir="ltr" aria-level="1">
<a href="https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia">https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia</a>
</li>
<li dir="ltr" aria-level="1">
Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers <a href="https://homebuyeracademy.com.au/YFHBG">https://homebuyeracademy.com.au/YFHBG</a>
</li>
<li dir="ltr" aria-level="1">
If you have any questions or would like to be featured on our show, contact us at:&nbsp;Your First Home Buyer Guide Podcast <a href="mailto:support@homebuyeracademy.com.au">support@homebuyeracademy.com.au</a>
</li>
<li dir="ltr" aria-level="1">
Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au">https://www.gooddeeds.com.au</a>
</li>
<li dir="ltr" aria-level="1">
Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a>
</li>
<li dir="ltr" aria-level="1">
Looking for a Brisbane Buyers Agent? <a href="https://www.propertypursuit.com.au/">https://www.propertypursuit.com.au/</a>
</li>
<li dir="ltr" aria-level="1">
Work with Meighan: <a href="https://www.linkedin.com/in/meighanwells/">https://www.linkedin.com/in/meighanwells/</a>
</li>
</ul>
If you enjoyed today&rsquo;s podcast, don&rsquo;t forget to subscribe, rate, and share the show! There&rsquo;s more to come, so we hope to have you along with us on this journey!
<ul>
<li dir="ltr" aria-level="1">
Subscribe on YouTube: <a href="https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast">https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast</a>
</li>
<li dir="ltr" aria-level="1">
Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825">https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825</a>
</li>
<li dir="ltr" aria-level="1">
<a href="https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825"></a>Subscribe on Spotify:&nbsp;<a href="https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f">https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f</a>
</li>
</ul>
&nbsp;

Your First Home Buyer Guide. Get there without missing a step.

Your First Home Buyer Guide. Get there without missing a step.

Advertisement