Let us guide you through what you should know about your credit score, so you can find out where you stand!

What is a credit score?

A credit score is a number that is calculated based on the information in your credit report, which helps credit providers know how responsible you are to lend to, and whether you have the endurance to pay them back.. It’s a number that is between 0 and 1200, where a higher number means you are more likely to be able to repay the loan. GetCreditScore features the Equifax Score, which is used by hundreds of lenders and credit providers in Australia. Equifax is Australia’s leading credit reporting body and has information on more than 18 million Australians, and is used by most lenders and credit providers.

Remember that credit score's are dynamic and are likely to change over time. For example if you make an application for credit with a lender, your credit score may change depending on the nature of the loan and the amount of the loan. 

What are the score ranges for the Equifax Score?

A Equifax Score falls in a range between 0 and 1200. The higher your Equifax Score, the better your credit profile and the better you may appear to credit providers. Below are the Equifax rankings to help you understand your relative position and credit strength against other Australians.

Your credit score will never factor in personal information like your race, gender, religion, marital status or national origin. If you want to learn more about how your credit score is calculated check out our infographic here


EXCELLENT - 833-1200 - You’re in the top 20% of Equifax’s credit-active population, suggesting it’s HIGHLY UNLIKELY that an adverse event could harm your credit report in the next 12 months. Your odds of keeping a clean file are 5 times better than Equifax’s average population. 

What`s next?
  • Get more out of your credit score by negotiating a better deal on your loans.
  • Seek out the best deal using your excellent credit score.
  • See if you're eligible for greater rewards, lower rates and lower fees.


VERY GOOD - 726-832 - Your EquifaxScore suggests it's UNLIKELY that you will incur an adverse event in the next 12 months that could harm your credit report. Your odds of keeping a clean credit report are 2 times better than Equifax's average credit-active population. 

What`s next?
  • Put your credit score to work and use it to negotiate a better deal on your loans.
  • Refinance and consolidate more expensive debt.
  • Get a better rate on personal credit; negotiate rewards and lower fees.


GOOD - 622-725 - Your EquifaxScore suggests it's LESS LIKELY you will incur an adverse event that could harm your credit report in the next 12 months. Your odds of keeping a clean credit report over this period are better than Equifax's average credit-active population. 

What`s next?
  • Consolidate expensive debt into a low-interest loan with fixed repayments.
  • Check your credit report regularly to monitor where you stand.
  • Use your credit score to get better rates on unsecured debt, including credit cards.


AVERAGE - 510-621 - If your EquifaxScore is between 510 to 621, your credit score range is Average. Your EquifaxScore would suggest it's LIKELY that you will incur an adverse event such as a default or bankruptcy in the next 12 months.

What`s next?
  • Pay your loans and bills on time. Use direct debits on payday. Work out payment plans with credit providers.
  • Avoid making many applications in a short period of time.
  • Review your credit report for free as soon as you're denied credit.


BELOW AVERAGE - 0-509 -  If your credit score is Below Average, you're in the bottom 20% of Equifax's credit-active population, suggesting it's MORE LIKELY that you will incur an adverse event such as a default or bankruptcy in the next 12 months.

What`s next?
  • Request and review your credit report.
  • If there are inaccuracies, contact the credit provider or credit reporting body to correct them.
  • If you're in hardship, seek out a financial adviser or work out a payment plan with credit providers.


How can you find out your credit score for free?

If you haven't already, create an account here. It's simple, safe and 100% free to find out your credit score.