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How to calculate your credit score – and why it’s so important



While the economic crisis caused by the Covid-19 pandemic has left 85% of South Africans in need of financial help, recent data has shown that South African’s credit scores are going up after the national lockdown which began in March this year.

The light at the end of the tunnel shows that 51% of South Africans now have a higher credit score than they did before lockdown. Short-term loan providers attribute the improvement of credit scores to a temporary reduction in defaults because of payment holidays offered to consumers at the beginning of lockdown.

Ayanda Ndimande, business development manager of Retail Credit at Sanlam said that as one would rely on a fitness trainer to advise them on the best fitness routines suited for them and a life coach for mentorship, so should one have a financial coach to guide them regarding their finances.

Ndimande said that consumers can do this with the help of a financial coach.

“A financial coach works with you on a continuous basis, focusing on the ‘here and now’ by helping you better understand your financial profile to become and stay financially secure. This includes understanding your specific financial challenges and the steps that need to be taken to improve your credit score.

“If you have a view and understanding of both sides of your personal balance sheet, it is the first step in becoming financially fit,” said Ndimande.

A financial planner on the other hand helps you holistically plan your portfolio to ensure you have adequate cover for your life circumstances.

Investec points out that there are two types of credit: secured credit means borrowing against an asset such as a home or a car, while unsecured credit includes things like store cards, credit cards or personal loans.

A credit score is a summary number based on your credit report, which contains information about the debt you’ve had, how you’ve paid it back, as well as your age and employment status.

When you apply for credit, the financial institution you’re applying through will pull a credit report from a credit bureaus. The report typically includes:

  • A two-year history of all the credit you’ve applied for;
  • The credit accounts you have and your payment history with them (including any late or skipped payments);
  • Any court judgments or defaults you may have against you.

All this information is then compiled into a single credit score, Investec said.

Most credit bureaus rate your credit score between 300 and 850:

  • A low score is generally considered to be between 300 and 579;
  • A fair score is between 580 and 669;
  • A good score is anything above 700.

The higher your credit score is, the healthier your credit is, which means you’re more likely to be approved for a credit application

If you want to understand how your credit score is calculated, why credit providers use this score to decide if you are a good or bad credit risk and how a good score can benefit you to negotiate interest rates, it is best to get a financial coach on board.

Below, Ndimande discusses how your credit score is calculated:

  • How you pay your credit obligations both currently and historically. This accounts for 35% of the score. A missed or late payment affects the score negatively.
  • How much and often you utilise credit made available to you. This takes 30% of the calculation and is based on the balances owed on loans and credit card.
  • The length of time you have actively used credit. The longer the history of credit and on time payment, the better the score. It is good to have debt that is well managed and is taken for good reasons. This contributes 15% to the overall score.
  • Type of credit available across all credit products contributes 10%. A mixture of long- and short-term credit can be favourable.

The most important aspects of credit is payment performance, managing credit and a good credit utilization, Sanlam said.

Improving your financial wellbeing is just as important as maintaining a good overall wellbeing. Consumers can do this by being aware of their finances every day so that they know what they are spending and how much they are saving, Ndimande said.

Read: Here’s why your credit score is so important – and how to improve it

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Loans Bad Credit Online – Euronext News Today – ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2020 RESULTS Amsterdam Stock Exchange:ASM | Fintech Zoom | Fintech Zoom



Loans Bad Credit Online – Euronext News Today – ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2020 RESULTS Amsterdam Stock Exchange:ASM | Fintech Zoom

Euronext News Today – ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2020 RESULTS Amsterdam Stock Exchange:ASM

Almere, The Netherlands
February 25, 2021, 6 p.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) today reports its fourth quarter 2020 operating results (unaudited) in accordance with IFRS.

Strong quarterly results driven by continued logic/foundry demand


EUR million Q4 2019 Q3 2020 Q4 2020
New orders 429.0 303.4 378.7
Revenue 400.6 314.6 346.6
Gross profit margin % 51.5 49.9 45.2
Operating result 130.9 83.9 77.5
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) 6.4 6.3 27.1
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) (3.5) (3.0) (3.0)
Net earnings 104.5 58.1 79.1
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares) 108.0 61.2 82.1
  • New orders at €379 million were 25% above the level of last quarter.
  • Revenue for the fourth quarter 2020 was €347 million and increased 10% compared to the previous quarter due to stronger market demand.
  • Gross profit margin was 45.2% in Q4 2020 compared to 49.9% in the previous quarter which had an exceptionally strong mix.
  • Operating result was €78 million compared to €84 million in the previous quarter, mainly due to mix effects and higher R&D and SG&A costs.
  • Normalized net earnings for the fourth quarter 2020 were €82 million, €21 million higher compared to Q3 2020, due to the higher contribution of ASMPT, mainly caused by one-off effects.


“2020 was another year of strong performance for our company. In a year dominated by the COVID-19 pandemic, the global ASM team demonstrated tremendous commitment and execution,” said Benjamin Loh, President and Chief Executive Officer of ASM International. “In the fourth quarter, we realized revenue of €347 million which was at the high end of the guidance of €330-350 million and up 10% from the level in Q3. The revenue level was again driven by continuous high demand in the logic/foundry segment. Our Q4 order intake, at €379 million, was up 25% from the level in Q3 and substantially higher than our guidance of €340-360 million, driven by strong demand in logic/foundry. For the full year, revenue was €1,328 million, a year-on-year increase, excluding the litigation proceeds in 2019, of 18%.”


For Q1, on a currency comparable level, we expect revenue of €380-€400 million, while we expect our revenue in Q2 to be at the same level. Q1 bookings, on a currency comparable level, are also expected to be in the range of €380-€400 million.

Based upon the current market developments, the wafer fab equipment (WFE) market is expected to grow by a mid-teens percentage in 2021. While it is currently too early to provide guidance for the second half of the year, ASM is well positioned for another year of healthy growth in 2021.


On June 2, 2020, ASMI announced the start of the €100 million share buyback program. As of December 31, 2020, 63.8% of the share buyback program was completed at an average share price of €132.63.


ASMI will propose to the forthcoming Annual General Meeting of Shareholders (AGM) 2021, to declare a regular dividend of €2.00 per common share over 2020. The regular dividend increases 33% compared to the regular dividend paid over 2019 (€1.50 regular dividend, excluding €1.50 extraordinary dividend).    

About ASM International

ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI’s website at

Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics and other risks indicated in the Company’s reports and financial statements. The Company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

ASM International N.V will host an investor conference call and webcast on Friday, February 26, 2021, at 15:00 p.m. Continental European Time (9:00 a.m. – US Eastern Time).

The teleconference dial-in numbers are as follows:

  • United States:          +1 646 7413 167
  • International:            +44 (0) 8444 819 752
  • The Netherlands:     +31 (0) 20 79 566 14
  • Access Code:          9692511

A simultaneous audio webcast and replay will be accessible at


Investor and media contact:

Victor Bareño
T: +31 88 100 8500
E: [email protected]

Euronext News Today – ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2020 RESULTS Amsterdam Stock Exchange:ASM

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Bad Credit Credit Cards – Minn. Justices Say Menard Can’t Get Tax Offset On Card Debts | Fintech Zoom



Bad Credit Credit Cards – Minn. Justices Say Menard Can’t Get Tax Offset On Card Debts

By Daniel Tay · February 25, 2021, 4:46 PM EST

Menard can’t get sales tax offsets based on uncollectible debts from purchases made on its private-label credit cards because the debts were owed to Capital One, the card-issuing bank, and not…

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Bad Credit Credit Cards – Minn. Justices Say Menard Can’t Get Tax Offset On Card Debts

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Bad Credit Credit Cards – Canada’s income-supporting CERB abyss stares firmly back at us | Fintech Zoom



Opinion: Whether repaying CERB overpayments, larger tax bills or catching up on deferred debt payments, there must be an allowance to pay back over a reasonable period of time based on financial ability

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Is it too much to ask that we have some good news without all the bad? In recent weeks, it feels like that’s a definitive “yes.”

Although Canada’s overall COVID-19 positivity rates and hospitalizations are steadily coming down, modelling shows more contagious variants of the virus could soon drive huge spikes in cases and overwhelm the health-care system.

Similarly, the vaccine should represent a beacon of hope and an end to all the concessions we’ve had to make. And yet, any light at the end of the tunnel is overshadowed by production delays and delivery shortages.

What does this all mean in terms of household economics — specifically Canadians’ and household debt? Well, it’s all interconnected. Canada’s consumer debt problem is far from new; however, it’s become more complex during the pandemic.

The most recent employment report reveals a loss of 213,000 jobs in January, pushing the unemployment rate to 9.4 per cent — the highest level since last August. The persistent impact of the K-shaped recovery, along with long-term unemployment and a large cohort of low-income workers, will fuel an uncertain economic future.

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Cash infusions — including the Canada Emergency Response Benefit (CERB), the Canada Recovery Benefit (CRB) and the Canada Emergency Wage Subsidy (CEWS) for businesses — have so far sustained the economy and saved many Canadians from intense hardship during several national lockdowns and partial recoveries. But for some, these infusions have also created a false sense of security and numbed them to overall indebtedness, by no means resolving it.

Other programs such as payment deferrals (mortgage, car payments, credit cards, etc.) have also helped Canadians stay afloat, but only temporarily as many are now being asked to repay the deferred payments. Credit Canada has seen cases where clients are being asked to pay all deferred payments in one lump sum. This is causing a great deal of stress, and reveals a pattern of taking what you can when you can, and dealing with the consequences later.

For many, the end of payment deferrals also coincides with massive, post-holiday credit-card bills and, more detrimentally, CERB paybacks and larger tax bills. There will be a wave of panic and anxiety in the coming weeks when people see they owe taxes on CERB this year, as it wasn’t taxed at the source.

It isn’t a question of if the financial storm will come, but when, and how long it will last.

Nine million Canadians applied for CERB, and by the end of last year one million had already repaid benefits after realizing they were ineligible. Most recently, the government announced that ineligible self-employed Canadians won’t be forced to repay the funds if they earned at least $5,000 in gross self-employment income in 2019 and met all other eligibility requirements. Additionally, Canadians who received COVID-related income supports and had less than $75,000 in taxable income in 2020 will have a year with zero interest on tax debt.

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While these leniencies are meant to calm the panic caused by ineligibility payback pressure, many will still face a large debt bill in the coming months. How many will struggle with repaying it?

As we approach one year since CERB was introduced (March 15), it’s time for the government and financial institutions to contend with the repercussions of financial supports and payment deferrals, and how to approach repayments in both cases. There is no “one-size-fits-all” solution. The government and creditors will need to look at every individual case and develop individualized and customized repayment plans that allow Canadians to recover.

Whether a person is repaying CERB overpayments, benefits received in error, larger tax bills or catching up on deferred debt payments, there must be an allowance to pay back over a reasonable period of time based on financial ability. This would help prevent vulnerable Canadians from being pushed further into a hole. Repayment plans need to take into account a person’s income, expenses, debt and any other financial obligations and responsibilities they might have. Let’s not put further stress or strain on household finances, thereby hobbling any chances of a nascent recovery.

To its credit, the government sprinted into action and created different financial support programs to help those impacted by COVID-19. We cannot let those efforts be in vain — or worse, allow them to backfire.

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Frederich Nietzsche held that “if you gaze long enough into an abyss, the abyss also gazes back into you.” Together, we can pull Canadians out of this economic gap before they lose all hope and trust.

Keith Emery is co-CEO of Credit Canada, Canada’s first and longest-standing not-for-profit credit counselling agency.

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