Aussies are, generally, pretty good at repaying credit on time, but that doesn’t mean that there haven’t been financial woes in the past and Good Credit Score. According to VedaScores, the national average is 760 on a scale of 0 – 1200. This means that most Australians sit on what’s considered to be a “very good” Credit Score – standing only 73 points shy of “excellent”.
The spokesman of Getcreditscore.com.au, a joint venture between Credit Provider Society one and Credit Reporting Body Equifax(formerly Veda), Christopher Zinn has expressed that it’s vital Australians do a quick online check of their Credit Score to make sure they know where they stand in the credit world.
Getcreditscore.com.au stands as one of the several options to view your credit score.
It should be noted that different sites draw their data from different sources, however, and as such your Credit Score will change from site to site.
“Getcreditscore” is a Credit Scoring website that draws its data from an Equifax Credit File, and as such we suggest using “Getcreditscore”. This is because Equifax is the primary Credit Reporting Body used by Credit Providers here in Australia; this is because Veda was originally founded and operates out of Australia – with its headquarters still being in Sydney,
despite the company being bought out by American Company, Equifax.
You can also use “Credit Simple”, a Credit Scoring website that draws information from and is owned by Dun & Bradstreet. Dun & Bradstreet is originally an American company, based in New York, and while it is more commonly used than Experian, it’s still used less here in Australia. It’s rare that you’ll need to worry about the data on your Dun & Bradstreet Credit File, and as such don’t necessarily need to use “Credit Simply” to get your Credit Score unless you’re very concerned about your Commercial Credit Report.
“Credit Savvy” is a Credit Score website that uses the information from your Experian credit file, a relative “newcomer” to the Credit Reporting game here in Australia, and as such isn’t used as often. Experian is a company based in Ireland and originally only operated in the UK.
Knowing your Credit Score is a good thing, and you should look into it if you’re considering applying for a loan or a credit/debit card.
If your Credit Score is low, sitting in between 0 – 725, we’d recommend ordering a copy of your Credit File from the Veda website to have a look at what information is there.
You should keep an eye out for the following things for Credit Score;
- More than four previous addresses
- Self-Employment in your employment history
- Inaccurate past names
- “High risk” suburbs listed as your previous addresses
- Personal loans for amounts less than $5000
- Any enquiry listed with $.00 amount
- Any Defaults
If you find more than one of the above things in your Credit File you can
A) try cleaning up your Credit File on your own
B) contact us and see what deals we offer
If you’d like to know more about our subscriptions, you can go here to check out our pricing page.
You can also see out How It Works if you’re not sure yet and you’d like to know more about us.
Alternatively, you can chat with one our team members through the Live Chat system, or, email us at [email protected]