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Your credit score is a number that represents the information contained in your
credit report. It attempts to give creditors an idea of how financially responsible
you are. GetCreditScore features the VedaScore provided by Veda and used by hundreds
of lenders and credit providers in Australia. Your VedaScore is a credit rating
between 0 and 1200 summarising the information in your credit report into one easy
to understand number.
To find out more information about your VedaScore and the items on your credit report
that contributed to it, get in touch with Veda
If you don't agree with your VedaScore, it may be because information on your credit
report is inaccurate. You have the right to have it corrected. If you think that
there is a mistake, you should contact the Veda Resolution
There could be several reasons why we may be unable to return your VedaScore. It
may mean that you don't have an active credit report in Veda's database or it may
simply mean that you have insufficient information on your credit report. Other
reasons why a VedaScore may not be generated are:
- Personal Insolvency Agreement
- Debt Agreement
- Discharged Bankruptcy
- Discharged Personal Insolvency Agreement
- Discharged Debt Agreement
Veda is Asia Pacific's leading data intelligence and insights company and custodian
of consumer credit information for over 45 years. It is one of largest, most comprehensive
and current data sources in Australia and New Zealand including information on over
16 million individuals, 1.9 million companies and 1.7 million business names –
more than any other organisation in Australia. VedaScore is built on Veda's extensive
database by experienced local analysts and is the most predictive credit bureau
score in Australia.
Under amendments to the Privacy Act 1988 which came into effect in March 2014, organisations
acting on your behalf to retrieve your credit information are known as Access Seekers.
As an Access Seeker, GetCreditScore can make a credit enquiry on your behalf, without
negatively affecting your credit score. This enquiry is recorded as a File Access
and is only disclosed to Access Seekers and yourself.
Soft Touch is an approach by which GetCreditScore acts on your behalf to request
your credit score, without negatively impacting your credit report. The request
will be noted on your credit report as a File Access. Typically when you apply for
credit, your credit report is checked, leaving a hard enquiry on your report. The
number of hard credit enquiries in your report is one of the different contributing
factors that could adversely impact your credit report and your credit score. A
File Access is a record of access made by Veda. It can only be seen by you and Veda,
with no impact on your creditworthiness.
This service allows you to access your VedaScore a total of 3 times a year, with
a maximum of 2 times in one month.
The information we request helps us identify you and also get the most accurate
match for you in Veda's database. That means that by combining your name and driver's
license number, for example, we have a much higher probability of getting an exact
match for you than by using other parameters.
If you don't have a driver's licence or Australian passport, GetCreditScore will
not be able to confirm your identification and retrieve your VedaScore.
GetCreditScore provides you with a free credit score in return for the right to
store your personal details and make those personal details available to SocietyOne
and VEDA with your consent. Your details are never shared with any other third party
without your consent.
GetCreditScore provides you with a free credit score in return for the right make
those personal details available to SocietyOne and VEDA with your consent. SocietyOne
and Veda may contact you about relevant offers, unless you have opted out
of direct marketing from that entity. Your credit score will never
be used to determine if an offer is relevant to you or for any other direct marketing
Your credit score will never be shared or used for direct marketing purposes by GetCreditScore
or any related entities.
You can opt-out of direct marketing by clicking the unsubscribe link in any emails
you receive from GetCreditScore or by contacting us directly. If you opt-out of
direct marketing, we may still contact you via email for administrative purposes
or on your request.
If you would like to opt out of direct marketing from SocietyOne
– you can do so at any time by contacting each entity directly.
Your credit report contains your credit history: a record of credit-related financial
information such as:
- overdue debts
- the number of credit enquiries made in the last five years
- the number and type of lenders you have approached for credit
- the type of credit account open and close dates and credit limits
- monthly repayment history information
- bankruptcy, personal insolvency
- any court judgments and court writs and
- your personal contact information, such as your residential address.
Comprehensive credit reporting is an opt-in system and information such as account
open and close dates, credit limit, account type and repayment history is only included
in credit reports if it's supplied by credit providers.
This service does not assist you to obtain your credit report. You can use this
service to obtain your VedaScore a total of 3 times a year, with a maximum of 2
times in one month. However, you can obtain your credit report direct from Veda.
You are legally entitled to obtain a copy of your credit report for free, delivered
in 10 days, in the following circumstances:
- Once every 12 months;
- If you have been declined on a credit application, you have the right to access
- your credit report free during the 90 days following the date you were declined;
- If your request relates to verifying that information has been corrected on your
An adverse event is considered to be a default, court judgment or writ, bankruptcy
or personal insolvency.
When you apply for credit or a service, the relevant credit provider may check your
credit report, leaving an enquiry on your report. Credit enquiries affect your credit
score. A relatively high number of enquiries within a short period of time could
adversely affect your ability to get credit. As an Access Seeker, GetCreditScore
acts on your behalf through a Soft Touch credit enquiry, with no negative impact
on your credit report or your credit score.
Under the Privacy Act 1988, credit reporting bodies can disclose information contained
in your credit report to organisations such as credit providers, mortgage insurers,
trade insurers and agents of credit providers (authorised agents). You also have
the right to access your credit information and can appoint someone acting on your
behalf to obtain the information. Where you, or your authorised person, access the
information, they are known as Access Seekers and their enquiries don't impact your
credit report. Hard enquiries from authorised agents acting on behalf of credit
providers however, will be noted on your credit report and are disclosed to other