Credit Scores 101 [Infographic]

Posted in Getting Started on 28-01-2016

Have you been wondering what makes up your credit score? Or why it's important? Our handy visual guide outlines on who might be interested in your score, how it's calculated and what can cause a default to occur on your credit file.

Who looks at your credit score?

These are just some of the places:

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Your credit score is important as many lenders use it to understand your past credit profile. It can determine your ability to:

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How is your score calculated?

Your credit score can be affected by a range of factors, including:

How is your score calculated?_01 How is your score calculated?_02 How is your score calculated?_03
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4 facts on defaults

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Credit scores- by the numbers

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Sources:
1. www.oaic.gov.au/privacy/privacy-archive/privacy-resources-archive/when-can-a-default-be-listed-on-my-credit-file
2. www.choice.com.au/money/credit-cards-and-loans/home-loans/articles/how-to-protect-your-credit-rating
3. www.veda.com.au/yourcreditandidentity/check/credit-file/what-looks-bad-my-credit-report
4. www.moneysmart.gov.au/borrowing-and-credit/borrowing-basics/credit-reports
5. www.choice.com.au/money/credit-cards-and-loans/home-loans/articles/ how-to-protect-your-credit-rating
6. www.pepper.com.au/help-centre/getting-started/7-fast-facts-about-credit-scores

 

Download the infographic here

For more information, speak to a friendly Lending Specialist on 13 73 77 Monday to Friday between 8:00am and 6:00pm (AEST).

Interested in learning more? Take our What's your credit rating IQ? quiz or read our 7 fast facts about credit scores.

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Would you like to know more?

For more information please contact your Mortgage Broker or give us a call on 13 73 77 and tell us about your situation. The more we learn, the better we can help.

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