1. Credit score Australia is determined by the credit report agencies:
2. It is the credit provider that enters information about you that actually dictates what your score will be. If you are wondering who gives you a credit score, then technically it is determined by a number of variables. You can also affect your own credit score by how you manage repayments, moving address or making credit applications.
Since different agencies can hold different information, you may have a credit report with more than one agency.
These include banks and credit unions, such as Commbank, St George, ANZ, NAB and Westpac.
These include Visa, American Express, MasterCard and others.
For finance on new, used and refinanced car loans.
This can include accountants and solicitors.
For a government license or benefit (if the agency is required to consider your financial status)
Usually can only look at your name, address, former addresses, and current and former employers.
For example, let’s say you have secured credit to purchase a car. At some point you fall behind with your payments. Chances are the finance company you used to fund the car would record this event with the credit reporting agencies and this would affect your credit score. If you are unable to resolve this credit issue with the finance company, they may record a payment default on your credit file. Such listings can have disastrous affects on your credit score.
Just remember, while it is the credit reporting agencies that record the information and give you a credit score, it is the credit providers and your own activity that determine what your credit score will be.
If you find yourself with negative listings on your credit file, Clean Credit can help. Credit score Australia can be improved through our credit repair service. We specialise in helping people remove negative credit items such as defaults and judgments from their credit files, restoring their credit rating and allowing them to secure credit once again.
One of the most common questions we are asked is “Can Clean Credit remove my court judgement from my credit file?” The answer to this question can undoubtedly make all the difference to your business