How to find out your credit score for free

By Leo Rodino posted on March 17, 2017

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Lenders look at your credit score or credit rating, which appears in your credit report, to work out if they should lend you money or give you credit.

Your credit score is a number based on an analysis of your credit file, at a particular point in time, that helps a lender determine your credit worthiness. It is used by credit providers, such as banks and credit unions, to help them decide whether to lend you money, how much they will lend you and may sometimes influence what interest rate is offered to you. The number is rated on a five-point scale (excellent, very good, good, average and below average). The position of your credit score on this scale helps lenders work out how risky it is for them to lend to you.

You can get a free credit score from a number of online providers. The results may vary depending on which credit reporting agency is used. According to ASIC’s MoneySmart, the following websites offer a free credit rating:

You may need to check with more than one credit score provider to get a consistent and reliable measure of your credit rating.

Your credit score is dynamic, meaning it may change from month to month as your financial circumstances change.

At MoneyQuest Teneriffe we specialise in residential property loans to purchase or refinance your home or investment property. We are also experts in commercial Property and SMSF loans, business finance, franchise lending, car and equipment finance.

Call us on 0417 551 445 for a no obligation appointment to discuss your specific requirements.

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Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.

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