Enter the email address associated with your account, and we'll email you a link to reset your password.
Canstar’s Credit Score Information Hub is designed to help you understand your credit score and credit report. It covers topics including:
A credit score, also known as a credit rating, is a number calculated by a credit bureau (a credit reporting agency) to represent how trustworthy your reputation is as a borrower. Your credit score will typically be on a scale of 0-1,200 or 0-1,000 depending on the credit bureau you use. The higher your credit score, the better your credit position currently is.
Your credit score is one of the factors lenders may use to decide whether or not you are eligible for a credit product, and when deciding what interest rate to charge you.
Your credit report contains details about your credit history. The information in your credit report is used to calculate your credit score. The system of credit reporting in Australia is knows as ‘comprehensive credit reporting’, meaning both negative and positive information could be included on your report.
Your credit report may show things like details of any applications you have made for credit cards, loans, or other credit products; current credit accounts you hold and ones you have had in the past; overdue accounts or late payments, bankruptcy, and other credit-related information. Your credit report may also contain positive information about your credit history, such as details of the regular repayments you have made in full and on time.
Your credit report contains details about your credit history, whereas your credit score is a number that represents your ‘creditworthiness’ by drawing on the data from the report at a particular point.
No, checking your credit score does not have a negative impact on your rating.
If you notice an error in your credit report, you should consider contacting the credit bureau who may be able to investigate the complaint on your behalf and look into removing the incorrect listing.
Your credit score is usually on a scale between 0 and 1,200 or between 0 and 1,000 depending on the credit reporting agency you use to check your score.
Here’s how Equifax (formerly known as Veda) determines which categories different scores fall within:
|Credit-worthiness||Excellent||Very Good||Good||Average||Below Average|
|Score||833 – 1,200||726 – 832||622 – 725||510 – 621||0 – 509|
Equifax’s data shows that people who score in this range are in the top 20% of Australian consumers with an Equifax credi