Skip to Main Content

Be CreditSmart - KNOW your credit score

What’s on your credit report can be quite complex and it may not be obvious to you whether it makes you look more or less creditworthy. This is where you can use a credit score (sometimes referred to as your credit rating) as a useful summary of all the information that’s held on your credit report. 

Keeping an eye on your credit score is a simple way of checking how you are tracking – how well you have been managing your credit health. If your credit score goes up, you know that your credit report is looking better to potential credit providers.If it goes down, it probably means that there is something on your credit report that is making you look less creditworthy.

‘Keep in mind – the score that you get from any particular supplier is only an indication of how credit providers see you - as each of them will create a score using different formulas and, potentially, using different bits of information about you'.

Get your FREE credit score

Once you’ve got a copy of your credit report, you might still be wondering whether you look good to a credit provider. Or you might be wondering whether your credit report is getting better by following our credit smart tips. 

Visit the following websites for your credit score:

Each of the websites has a relationship with a particular credit reporting body, and gives you a free score created by that business. The websites are able to give you access to your credit score for free as they will use your information to market things to you. If you’re worried about how they will use your information, make sure you have a close read of the website’s privacy policy (which should also tell you how to opt-out of getting the marketing material if you don’t want it).

A credit score is calculated when you apply for credit (sometimes by the credit provider and sometimes by the credit reporting body). This means that the score that you get through these websites may not be calculated in the same way as the one used by a credit provider. However, it can still be a good indication of how the ‘credit industry’ generally views you and, importantly, how that changes over time. 

Can I change my credit score?

The credit score used by a particular credit provider is a combination of the information that is available about you and the formulas that are used to calculate the score.

While you can’t change the formulas, you can definitely impact the information on your credit report from which the credit score is derived. 

Generally, the higher your score, the better.

Improving your credit score 

If you manage your credit effectively, this should be reflected in your credit scores (although as noted above each of your credit scores depends on which credit reporting body or credit provider has calculated it).

When obtaining a copy of one of your credit scores, it is a good idea to also obtain a copy of your credit report from each credit reporting body so you can better understand some of the information which may have been used to calculate that credit score. 


Digital Agency: Spark Green