In Finance Tips, News, Personal Finance Tips

At iCREDIT we’re all about helping our clients understand the ins and outs of finance. We really want to help Australian’s understand the importance of their credit score.  If you don’t already know, your credit score comprises of three numbers. Your score is calculated by independent credit reporting bodies, that have access to information from banks and financial institutions within the country.

A credit rating can be the deciding factor on whether or not banks or other financial institutions will approve your loan. It also helps banks and financial institutions determine how much finance should be approved, and the terms and other conditions that will be involved.

The Following Things Can Negatively Affect Your Credit Score

  • Missing credit card payments
  • Not paying bills on time
  • Overdrawing your bank account


  • Falling behind in your rent or your mortgage

If you have a poor credit score, there’s no need to panic. There are ways to build your crediting rating back up.  You can start to prove your consistency by taking out smaller loans and adhering to the repayment schedule, or by paying your bills and rent on time. This evidence that you are reliable, and can make consistent payments will make a significant difference.

Not Sure What Your Credit Rating Is?

If you’re not sure of your credit rating, you can easily apply to see your credit score file. iCREDIT Finance encourage you to do this, it’s a great way to see where you’re at and how you can improve.

Applying for your credit score is free, and you can do it every year! You can either contact one of the national credit reporting bodies like Dun & Bradstreet, or you can go online and use websites like

For advice on all things finance, insurance and loans look over our website or contact us!

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