What is Credit Score?
Your credit score is a number (0 to 1,200 in Australia) summarising your creditworthiness. Higher is better. It's driven by repayment history, credit enquiries, active accounts, defaults and the diversity of your credit mix.
Why it matters for you
Most prime lenders want 600+. Specialist lenders can accept lower scores at higher rates. Quick wins: pay bills on time, reduce active credit card limits (not balance — limit), avoid too many enquiries at once.
Last updated: April 2026