Where to get your credit score for free

Your credit score (or credit rating) can help lenders determine whether you are a 'creditworthy' borrower that can make your repayments on time. Learning your credit score could assist in negotiating financing and may encourage you to improve your rating.

How do I find my credit score for free?

If you’re seeking an efficient and safe way to discover your credit score for free, sign up for a credit score check: 

• RateCity - Simply fill out a short form that takes just 60 seconds to complete. You’ll get your credit score from one of the world’s largest credit reporting agencies, Equifax. You can also sign up for email alerts to notify you of any changes made to your score and download the app for either iPhone or Android.
• Equifax - Australia's largest credit reporting bureau offers a quick and easy solution to deliver your credit score.
• Experian -  A credit reporting agency providing credit reports and credit scores within 10 working days.
• illion - After you sign up, you will see your score and details of your credit report.
• Canstar - You'll be able to access your free credit score, calculated by Equifax, once per month.
• Credit Simple - Sign up to check your credit score, via illion, and receive insights.
• GetCreditScore - Create an account, verify your ID and view your Equifax credit score on a monthly basis.
• Credit Savvy - Following verification you'll gain access to your Experian credit score and report information.

This inquiry won’t affect your credit score, because it is a 'soft enquiry', which is different from when banks or lenders perform 'hard inquiries'.

A 'hard inquiry' is when you apply for credit and a credit provider obtains a copy of your report, which is then added to your credit report. This can include any loan or utilities applications you may make. Shopping around for credit and applying to a number of different providers within a short space of time may negatively impact your credit score. It flags you as a greater risk than infrequent applications for credit with a few credit providers.

When you sign up for a free credit score check you may have to agree to certain terms and conditions that allow the provider to use your personal information for marketing purposes. However, you can opt-out of this arrangement after you’ve received your score. Avoid providers that ask you to pay for your score or request your credit card details.

What is a credit score?

Your credit score is a current record of your personal and financial information that’s kept in your credit report. A credit score is a number, typically between 0 and 1,200, that offers an indication of how credit-worthy you are, and how likely you are to pay your debts on time.

Generally, most people’s credit scores are between 300 and 850. The higher the score, the more agreeable your credit rating is. A good score is one above 621, according to Equifax.

Source: The credit score scale shown above is attributed to Equifax.

Sometimes mistakes and inaccuracies end up on your credit report. Once your file has been updated with the correct information, you can expect to see an improvement in your score.

A poor credit rating can reduce or restrict your borrowing capacity and potentially incite higher interest rates on loans and credit cards. If your score is low, it may be worthwhile discovering why (for example, late or missed payments) and what you can do to improve it. 

How do I find my credit report?

If you've ever applied for a line of credit or a loan, you’ll have a credit report on file. In Australia, you have the right to access a copy of your credit report, free, every three months. Your credit rating is included in your credit report.

You can also request a free copy of your credit report if you’ve been refused credit within the past 90 days or your credit-related personal information has been amended recently.

Accessing your credentials online is relatively simple. There may be a waiting period before you can receive the report, either by email or post.

The following credit reporting agencies can provide you with your free credit report:

• Experian - Phone 138 332
• Equifax - Phone 1300 783 684
• illion - Phone 1300 734 806

Different agencies hold different credit information. This means that you may have a credit report with more than one agency, so it may be useful to check with all three providers.