In the world of finance, everyone wants to see the finer details and the bigger picture.

With personal loans, credit cards, and cash advances becoming more and more prevalent, a lot of people are looking to get a credit score report. Since everything’s online nowadays, they can just ask questions like ‘How to check credit scores?’ or ‘How to check my credit card score?’ right away.

However, going through this process isn’t as easy as it seems. For a lot of Australians, the whole online credit check experience can even be stressful and anxiety-inducing. The good news is that there’s now a simple way to secure your credit score for free, and that’s through us at MONEYME.

Here, we have an advanced yet intuitive MONEYME Credit Score tool that all kinds of borrowers can leverage. As opposed to spending the bulk of your free time searching for terms like ‘How do I get my credit scores in Australia?’ or ‘How do I check my credit score in Australia?’ on the web, you can save yourself the headache and install our free MONEYME mobile app (available on the App Store and Google Play Store).

There’s no need to prepare piles of documents when you get a credit score report from us. You just have to share some standard contact information. This includes your name, number, email, DOB, address, and driver’s licence (optional). After we’ve received these details, we’ll conduct a quick credit check, providing you with the same information lenders and banks view when analysing your creditworthiness.

What’s more, you can expect more than just an in-depth summary from our Credit Score tool. We can guide you further by giving you tips and tricks that will teach you how to improve your credit score. On top of that, we can also present you with some of our special offers.

With us, you can get a micro and macro look at your unique financial situation and even find out what steps you can follow to improve your chances of a successful credit application. Feel free to use our MONEYME mobile app, get a credit score check, and then plan your finances accordingly.

There are different credit reporting agencies, but all of them consider multiple pieces of information that make up your overall credit report. These factors include:

• The amount of credit you borrowed before
• A personal repayment history for the credit products you’ve used
• Any present credit limits in place, e.g. on a credit card or line of credit
• Your credit applications (how many and how often you’ve submitted them)
• Any confirmed bankruptcies, court judgements, or defaults linked to your name

This summary will give lenders and banks an idea of your creditworthiness or the risk involved when sending you funds. The better your credit report or credit score is, the more likely they are to approve your application with favourable terms like higher borrowing amounts, lower interest rates, and more flexible repayment periods.

While it’s important to get a credit score report, you also have to remember that there are some financial institutions that will take into account other aspects (all possible income sources, debt obligations, living expenses, etc.) for a fair and just review – especially if they offer low credit score loans.

Aside from familiarising yourself with what factors affect your rating, you should also know when to get a credit score check. Your credit score is typically updated whenever data is recorded on your credit report. With this, keep in mind that most lenders and banks submit information to credit reporting bodies on a monthly basis.

As a responsible practice, you should then stay on top of your finances and get a credit score check frequently – especially because of the changes to the consumer credit reporting law. With the new Comprehensive Credit Reporting (CCR), even positive credit behaviour will affect credit score ratings.

In the past, only negative credit behaviour would be noted, and this would take away points from your good credit score. To give you a better understanding, some examples include being in default or missing payment deadlines. However, positive credit behaviour like consistent and on-time repayments will now help you maintain your current credit score or perhaps improve it.

Seeing that you want to know your credit score, you’ll be pleased to know that online checks are safe. Generally, requesting your credit report won’t affect your score, but you should still understand the difference between a soft enquiry and a hard enquiry.

Soft enquiries provide an overview of your credit report. These don’t affect your credit score and are not visible to lenders who might view your report. In contrast, hard enquiries happen when you submit an application for a credit product like a personal loan, credit card, or cash advance. These requests affect your credit score, and financial institutions typically include this in their assessment.

You should also be aware that each of the main online credit reporting agencies (illion, Equifax, and Experian) only offers free checks once every three months. On their platforms, you can also get a credit score check for free if you were denied credit in the past ninety days or if you recently had information corrected.

For this reason, it’s crucial that you have access to an easy-to-use tool such as the MONEYME Credit Score tool that can provide you with a credit report quickly, frequently, and most importantly, for free. This way, you can stop tirelessly searching for terms like ‘best credit score check tool in Australia’ on the web and get convenient updates instead.