How to check your credit report for Free 2023
What’s a Credit Report?
Credit reports (Aka a ‘credit file’) contain information about your credit history like previous loan details, credit enquiries and any insolvencies.
They also list some personal information, like addresses (past and present), full name and DOB – and your credit score.
A credit score “scores” a person’s ability to manage credit repayments – the higher, the better – which can unlock lower rates and higher loan amounts.
Talk to our team today to find out potential rates, repayments and loan amounts matched to your circumstances. Simply finding out won’t affect your credit report or credit score.
How do I check my Free credit score myself?
You have a right to get a copy of your credit report for free every 3 months. It’s worth getting a copy at least once a year.
Most lenders use your Equifax to obtain your credit file and asses your credit risk.
You can use the website: https://www.mycreditfile.com.au/ or https://www.equifax.com.au/personal/products/credit-and-identity-products to check your credit file yourself. Use the FREE report option.
Because there are more than one reporting agencies they can hold different information about you, so you might have to check your credit report with more than one of these agency.
These other agencies are:
- Experian – https://www.experian.com.au/order-credit-report
- illion – https://www.creditcheck.illion.com.au/
They should provide you with a credit check for free or at least have a free option and avoid any provider that asks you to pay or give them your credit card details.
You can also get your credit score for free from an online credit score provider such as Credit Simple, Finder or Canstar, but they are just a middle man and will use your contact details to send you marketing.
What is a good credit score?
- Excellent – 833 – 1,200
- Very good – 726 – 832
- Good – 622 – 725
- Average – 510 – 621
- Below average to average – 0 – 509
Typically, the average interest rate on car van and truck loans is set at almost 4% to a crazy 17%. Good credit scores of 600 and above tend to have rates between 3% to 10% while 0 to 509 tend to have 10% – 20% interest rate p.a.
Is this all too hard?
We get it, even if you did this all yourself you still might need someone to help you understand and interpret the report. Get in touch with us and we can help you understand your credit situation and which loans match your circumstances.
