‘How do I check my credit score?’ and ‘What’s a good credit score?’ are common questions for a lot of people. While many are already familiar with how credit cards, personal loans, or cash advances work, it’s easy to overlook one crucial aspect – the credit score.

Unfortunately, checking your personal credit score typically takes more than just one quick search on the web. This process can even leave a lot of people feeling anxious and stressed, which is why we at MONEYME have created a Credit Score tool that’s absolutely easy to use. The best part is that you can use it to request credit score ratings for free.

Getting started is as simple as downloading the MONEYME mobile app through the App Store or Google Play Store. After installation, you’ll be able to save time and effort by ending any search you’ve had for terms like ‘How do I check my credit score?’ or ‘How to increase my credit score fast?’ online.

Here, there’s no need to sift through mounds of paperwork just to check your credit score. You just have to present some general contact details in the form of your name, number, email, DOB, address, and, optionally, your driver’s licence number. We’ll then use the data you shared to provide you with an individualised and comprehensive credit report.

With our credit summary, you can expect to see the same information lenders and banks note down when they measure your creditworthiness. You can also use our Credit Score tool if you’d like to get tips and tricks that’ll show you how to improve a credit score, as well as if you’d like to receive special offers.

Try out our MONEYME mobile app today to find out more about your unique financial situation. Come secure a free credit report and even explore some ways you can improve your chances of a successful credit application.

Hundreds of people look up terms like ‘How do I check my credit score?’ or ‘What’s my credit score?’ on the web, as this numerical value typically dictates one’s creditworthiness. Ultimately, your rating is important because financial institutions use it to measure the risk involved when extending credit.

If you have a good credit score, then lenders and banks will see you as a borrower who’s less likely to default, miss deadlines, or display other negative credit behaviours. This means that they have more reason to approve your application. They’ll also be comfortable offering you higher borrowing capacities, lower interest rate percentages, longer credit terms, and other favourable terms.

With this, you should keep in mind that your raw credit score number is tied to your credit report – a culmination of the following points:

• how much credit you loaned or borrowed in the past;
• your repayment history for previous credit products;
• current credit limits you adhere to on a cash advance or credit card;
• the credit applications you’ve made and the rate at which you’ve submitted them; and
• any disclosed court judgements, bankruptcies, or defaults under your name and record.

Having a deeper understanding of topics like ‘How do I check my credit score?’ or ‘What are credit scores?’, you can now aim for a good standing you can realistically maintain. In Australia, there are three main credit reporting agencies, but since they have different credit score ranges and credit score scales, an ideal rating may differ slightly.

• Experian. Good credit scores are anywhere from 625 to 699; very good credit ratings start at 700 and end at 799; and excellent credit scores are ranked from 800 to 1,000.

• Equifax. Good credit ratings start at 661 and cap at 734; very good credit scores range from 735 to 852; and excellent credit ratings begin at 853 and max out at 1,200.

• illion. Good credit ratings span from 500 to 699; great credit scores run from 700 to 799; and excellent credit scores are from 800 to 1,000.

If you’ve thought about topics like ‘How do I check my credit score in Australia?’ or ‘How do I check my credit score online?’ it’s only fitting that you’d want to know how often your rating changes. Everyone has a unique financial situation, and as such, credit scores and credit report updates would vary from borrower to borrower.

However, you should know that your credit score will change every time new information is added to your credit report. Lenders and banks in Australia also generally submit updates to credit reporting agencies on a monthly basis, so it’s crucial for you to regularly check your credit scores for free.

What’s more, negative credit behaviour isn’t the only factor that affects your rating nowadays. Due to developments in our consumer credit reporting law, notably the introduction of Comprehensive Credit Reporting (CCR), your positive credit behaviour also influences your rating.

For example, simply making routine repayments on time can increase your credit score over time. Then, as a responsible borrower, you can move from asking questions like ‘How do I check my credit score?’ to keeping an eye on your progress with a tool you can conveniently use on the fly, such as the MONEYME app.