About your credit score

  • What's my credit score?

    Your credit score is a number that indicates your credit worthiness, or ability to repay your bills on time. Generally, the number is between 0 and 1,000.

    If you have a high credit score, this means you’re rated more likely to pay back a loan. This will increase your ability to borrow money, and you may also be offered a better interest rate by lenders.

  • Who uses my credit score?

    Lenders such as banks, credit card companies, utilities and telcos can use your score. It helps them decide how much they'll lend you, and may impact the interest rate you’re offered.

    Keep in mind, however, that these lenders may have other criteria as well.

  • Why should I check my credit score?

    When you know your score, it can help you make smarter financial decisions.

    Rest assured, when you check your score with us, it's a 'soft' enquiry (see below) – so your score won't be affected simply by checking.

  • Who are Credit Savvy and Experian?

    CBA New Digital Businesses Pty Ltd, trading as Credit Savvy, helps Australians access, understand, leverage and protect their credit reputation. It's a free consumer initiative, and part of the CommBank Group.

    Experian is one of Australia's official credit reporting bodies. It collects and aggregates information about people and businesses.

    CommBank pays Experian a fee to provide this service. However, there's no charge to you.

  • What are 'hard' and 'soft' credit enquiries?

    A hard enquiry is when a lender checks your credit file before approving you for a loan (like a mortgage, car loan or credit card). 

    Checking your own credit report is called a “soft” enquiry. Credit Savvy uses a soft enquiry to retrieve your credit file from Experian to display in NetBank or CommBank app.

    Your credit score won't be affected by a soft enquiry, but it can be affected by a hard enquiry.

When is it useful to check your credit score?

Knowing your credit score can be especially useful when you're looking for a loan or credit product such as:

Personal Loan

Making a major purchase or consolidating your debts

Home Loan

Looking to buy a house

Credit Card

For ongoing expenses

Buy Now, Pay Later

Split your purchases or repayments over time

Personal overdrafts

Access additional funds whenever you need

Frequently asked questions

Generally, improving your credit score takes a little time and requires you to maintain a healthy credit history. Here are some suggestions: 

  • Demonstrate financial responsibility by making all your repayments on time 
  • Make an honest assessment of your finances and only borrow what you can afford to pay back 
  • Limit the number of credit applications you make by researching what's available in the market and selecting those that suit your needs 
  • Before applying, consider the type of credit you’re applying for, who the credit provider is and how it could affect your credit score. For example, payday lenders may be viewed less favourably than banks. 
  • Actively monitor and check your credit report for errors.

Credit Savvy retrieves credit report information and credit scores from Experian, one of Australia’s official credit reporting bodies.

Experian obtains information from a number of sources, and this is used to calculate your credit score. 

Scores can frequently change, and some common reasons for this include: 

  • A change in your repayment history (this could be a missed payment or paying off one that was missed) 
  • A new application for a credit product 
  • A newly listed credit account (with Comprehensive Credit Reporting, your active account, open dates and credit limits are now being reported to the credit reporting bodies) 
  • Closed credit accounts 
  • A negative credit event (such as a late payment or default) 
  • New information about you becoming available to Experian (they’re always working in the background to add more data from lenders) 
  • A record dropping off your file after a defined period of time 
  • Errors being corrected 
  • Records on your file ageing over time (an enquiry in the past month impacts your score more than one that’s four years old, for example) 
  • Experian recalibrating their scores from time to time.

Staying on top of your credit score can be helpful when

  • You're looking to apply for a loan such as a personal loan or a home loan, or for a credit product such as a credit card or Buy Now, Pay Later (BNPL)
  • After detecting any suspicious activity on your credit accounts
  • On a regular basis to monitor your creditworthiness and catch errors or fraud early.

Your credit score is a number (generally between 0 and 1,000) that indicates your creditworthiness. Your Comprehensive Credit Report includes information about:

  • When you applied for credit products
  • Dates you opened and closed your personal credit account and account type
  • Credit limits you have and up to 24 months of repayment history
  • Any defaults you’ve had.

The CCR enables credit providers to obtain a more comprehensive view of your financial situation before they choose to approve your application for credit.

The four major Australian banks, CommBank, ANZ, NAB and Westpac (plus lenders owned by them), currently supply 100% of their personal credit account information to credit reporting bodies. 

Yes, information about financial hardship arrangements can appear on your credit report. A credit report can show that a financial hardship arrangement has been entered for the credit account, although it won’t include the reason for the hardship nor the details of the arrangement.  

During a financial hardship arrangement, your repayment history will show whether or not you have met the requirements of the financial hardship arrangement (instead of your usual payment obligations).

Financial hardship information cannot be used by credit reporting bodies in the calculation of your credit score (except where you have failed to keep to an arrangement and this is reflected in your repayment history), and can only remain on your credit report for 12 months.

Our service retrieves your credit report information from Experian through Credit Savvy every month on your behalf. Unfortunately, it can take time for account changes (including closures and corrections) to be reflected on your NetBank or CommBank app dashboard.

Your credit providers will first have to update the information with Experian (you can contact them directly to check why your credit report doesn’t reflect any recent changes). 

Once the information has been amended on your Experian credit report, then when our service retrieves your credit report information from Experian through Credit Savvy, it will be displayed on your dashboard summary.

Credit scores are calculated by an algorithm that uses information from your credit report. This information includes patterns in your credit history, characteristics of your credit profile, and aspects of your credit applications. 

Patterns in your credit history can include: 

  • When you shop around and make numerous applications to different credit providers within a short period of time. This increases the number of credit enquiries on your credit report. It’s more favourable to have infrequent and fewer credit enquiries 
  • The spread of credit enquiries over time. Older credit enquiries have a different level of risk associated with them than more recent credit enquiries 
  • Negative information such as defaults, serious credit infringements, bankruptcies, and court judgements can adversely impact your credit score.

Characteristics of your credit profile:

  • To assess risk, your credit score can factor in personal details such as your age, length of employment, and length of time at your current address 
  • The age of your credit history can impact your credit score. A credit report with a longer credit history will have a different level of risk than a newer file with a limited credit history 
  • If you're a director or owner of a company or business, your credit score will also consider your business location, how long it's operated at its current address, and the credit history information in the commercial section of your report. 

Aspects of your credit applications:

  • There are many types of credit available to consumers, and each has a different level of risk. Your credit score accounts for both the type and amount of credit in your previous applications 
  • Similarly, each credit provider that makes an enquiry on your credit report has a different level of risk. This will depend on what type of provider they are. For example, an application with a payday lender is seen differently to a bank or credit union.

Credit scores help with understanding your credit wellbeing. Your credit report and credit score are used by lenders to evaluate your creditworthiness, for example to understand your debt levels and how you manage your credit obligations. These are one of the inputs into making a credit decision, such as approving a new credit application or changing an existing credit arrangement. 

Having a good credit score can come with many advantages, such as savings on interest rates or better terms on credit products.

Each of the three credit reporting bodies has its own credit score algorithm. This interprets the information held in a credit report and calculates your credit score from that data.

Key reasons why your scores could differ across the three reporting bodies include: 

  • Each body has its own algorithm and may interpret data in different ways 
  • They have access to different data, including data unique to them
  • Not all credit providers submit data to every credit reporting body 
  • They may use a different scale (for example, some use a score out of 1,000 while others use 1,200).

Information in your credit file can only be changed or removed if it's incorrect or out of date. 

If there's incorrect information on your credit report summary, you should first contact the organisation that provided it. 

If they don't resolve the issue, you can also contact Experian and explore their corrections process.

If there are incorrect details on your report, you should first contact the organisation that provided them. 

If the organisation doesn't resolve the issue, you can also contact Experian and explore their corrections process

When you apply for a credit product, the provider may record an enquiry on your credit report. This is regardless of whether your application was approved or rejected. It doesn't indicate if the product was ever taken out or remains active – nor whether it's been paid off or the account is closed. 

How enquiries affect your credit score will depend on how frequent and recent they were. It will also depend on the type of credit and provider.

Credit enquiries can stay on your credit report for five years, and only be removed if incorrect or out of date.

A default is recorded on your credit report by Experian if your payment of $150 or more is overdue by 60 days or more. 

Your credit provider must first send you a written notice to recover the payment, and let you know that it intends to list a default on your credit report. 

If a default has been recorded and you’ve since repaid the amount in full, that payment will be noted on your credit report. 

A default is kept on your credit report for five years, even after the amount has been repaid. 

If you're in financial difficulty, and at risk of not making a payment, contact your credit provider as soon as possible. You can request hardship assistance.

Credit scores are calculated based on the information held on your credit file. Depending on the type of information and its status, it can be held on your file for a varying amount of time. You can get more details at Credit Savvy.

If you’re a victim of fraud, or are likely to be, a temporary ban can be requested on your credit report. This means your credit report and any personal information can’t be used or disclosed by a bureau in the ban period.

A ban initially lasts for 21 days. It’s free to request a ban and any subsequent extensions.

There’s no limit to the number of times a ban can be extended or its length. You can find more information at Credit Savvy.

Our service can't access your credit report when there's a ban in place, so you'll need to contact Experian.

If you have any questions or concerns about your Experian credit report or credit score, you can get in touch with Experian directly: 

Email: creditreport@au.experian.com

Phone number: 1300 783 684

Call centre hours of operation: 9am to 5pm Monday to Friday, Syd/Melb time (closed on public holidays) 

Terms & Conditions

  • Credit Score Terms and Conditions

    Credit Score Hub, powered by Credit Savvy, gives you access to your credit score and other credit-related information held by credit reporting body, Experian Australia Credit Services Pty Ltd ABN 12 150 305 838 (Experian).

    By using this service, you agree to be bound by these Terms and Conditions. If you don’t accept these Terms and Conditions, please don’t use this service.

    You must be 18 years of age or older and a CommBank customer to use this service.

    Accessing your credit information 

    Credit reporting bodies (like Experian) collect and exchange your credit information with credit providers and other service providers such as phone companies. They may use this information to assess your applications for credit, verify your identity and manage your accounts held with them. It is important you know what is in your credit file and that it is correct. 

    The Privacy Act (Cth) 1988 permits an individual to appoint another entity (known as an ‘access seeker’) to assist them to access their credit information held with a credit reporting body. 

    This service enables you to appoint CommBank subsidiary, Credit Savvy, as your access seeker to assist you to obtain access to your Experian credit score and other credit information held by Experian about you, and have this delivered to you in the Credit Score Hub (within NetBank or CommBank app) for your ease and convenience.

    Appointment of Credit Savvy 

    By using this service:

    1. you appoint Credit Savvy as your access seeker, to assist you in obtaining access to your Experian credit score and other credit information held by Experian about you;
    2. you acknowledge that CommBank will collect your personal information (this may include, for example, your full name, date of birth, current and previous address and drivers’ license number) and pass this information to Credit Savvy for purpose of Credit Savvy providing this service; 
    3. you consent to Credit Savvy collecting, disclosing, and holding your personal information for purpose of providing this service;
    4. you acknowledge Credit Savvy will:

      a) deliver your requested information (retrieved from Experian) to you via the dashboard and Credit Report Summary in the Credit Score Hub (within NetBank or CommBank app). Only you (and not CommBank) will have access to this information; and
      b) periodically update your credit information to ensure your dashboard reflects any changes;
    5. you acknowledge Credit Savvy is a subsidiary of CommBank; 
    6. you acknowledge Credit Savvy’s request to access your credit information, on your behalf, will be recorded on your credit report for your information only, for you to know who has accessed your credit file; and 
    7. you agree this appointment and authorization continues until such time as you cancel your access to the Credit Score Hub.

    For more information on how CommBank, Credit Savvy and Experian collect, use and disclose your information, go to CommBank Group Privacy Statement, Credit Savvy Privacy Policy & Credit Savvy Terms of Use and Experian Privacy Policy

    To request a copy of your free Experian credit report, contact them directly at www.experian.com.au.

    Your credit information 

    Your credit information may include:

    • Personal identification information, including name, contact details and date of birth 
    • Consumer credit liability information
    • Repayment history information
    • Financial hardship information
    • A statement that an information request has been made about you by a third party
    • The type of consumer credit and amount of credit sought in an application to a lender and in connection with which a lender has made an information request
    • Default information
    • Payment information
    • New arrangement, court proceedings or personal insolvency information; and
    • Any other information as set out in section 6N of the Privacy Act 

    Credit Score

    Your credit score is calculated and produced by Experian.

    This service does not reflect or capture any data held by any other credit reporting body. Your Experian credit score may be different from a credit score obtained elsewhere. Your Credit Score and other credit-related information about you may be presented in a different way if it is requested directly from Experian, however in this case the information is based upon a subset of the same underlying data.

    Fees and charges

    You will not be charged any fees by Credit Savvy or CommBank for using the Credit Score Hub.  However, CommBank pays fees to Experian for providing this service.

    Accuracy and availability

    Credit Savvy receives your credit information from Experian and relies on Experian to provide it with accurate and up-to-date credit information about you. Credit Savvy will make every reasonable effort to ensure this information remains accurate and up-to-date and will correct any errors or omissions as soon as practicable after being notified of them. You acknowledge despite Credit Savvy’s best efforts, the information you access through this service may not always be accurate, complete or up-to-date. Neither Credit Savvy nor CommBank will be liable for any incorrect or incomplete information provided by Experian, as displayed in the Credit Score Hub, or for any loss, cost or expense that you may suffer by relying upon the accuracy or completeness of any information provided through this service, except to the extent that CommBank or Credit Savvy, or their employees or agents, have caused or contributed to the relevant loss through their negligence, fraud or wilful misconduct.

    You acknowledge that temporary interruptions to the service may occur from time to time. Neither Credit Savvy nor CommBank will be liable for any loss, cost or expense that you may suffer as a result of not being able to use or access the service  in a timely manner or at all, except to the extent caused by the negligence, fraud or wilful misconduct of Credit Savvy, CommBank or their respective employees or agents.


    If you believe information contained in your credit file, Credit Report Summary or any other credit-related information is incorrect, please contact your credit provider and/or the credit reporting body to have the mistake investigated and corrected.

    Cancel access  

    You may withdraw your consent at any time. This will cancel your access to this service.

    Termination, cancellation and suspension of use

    CommBank may terminate, suspend or otherwise limit your access or use of the Credit Score Hub without prior notice to you, if we reasonably believe that you are misusing this service, engaging in fraudulent or unlawful behaviour or breaching these Terms and Conditions in a manner which materially increases our risks in relation to this service. Where we take such action, we will notify you as soon as possible afterwards.

    CommBank may also vary, discontinue or cease offering any aspect of this service at any time. Where we do so, we will always try to give you advance notice. However this may not always be possible. For example, where we need to vary or discontinue the service to address an immediate risk of harm. We will not be liable to you for any costs, losses or damages you may suffer as a consequence of any decision by us, acting reasonably, to vary, discontinue or cease any aspect of this service.


    To the maximum extent permitted by law, you indemnify and agree to keep CommBank and Credit Savvy indemnified against any loss or claim arising out of, or in connection with:

    • Your use or inability to use, or access, this service in violation of these Terms and Conditions; and/or
    • Reliance by you on any content or information obtained through this service.

    This indemnity will not apply to the extent CommBank or Credit Savvy caused or contributed to the relevant loss through their own negligence, fraud or wilful misconduct, or that of their respective employees or agents. 


    CommBank reserves the right to change these Terms and Conditions, and make changes to the content and layout of NetBank or the CommBank app at any time. We will always act reasonably when exercising these rights and only make changes we consider reasonably necessary. Any modifications will be effective immediately. We accept no liability for any costs, losses or damages of any kind arising as a consequence of any such change, except to the extent CommBank, Credit Savvy or any of their respective employees or agents have been negligent, fraudulent or exhibited wilful misconduct.

    Any subsequent use by you of this service will constitute an acceptance by you of any varied or modified Terms and Conditions. We encourage you to periodically review these Credit Score Terms and Conditions to become aware of any changes that may have occurred. If CommBank makes a change that you are not happy with, you  can discontinue your use of this service at any time and as a result these Terms and Conditions will no longer apply to you.

    1 Credit Savvy is a trademark of CBA New Digital Businesses Pty Ltd, ABN 38 633 072 830 and Australian Credit Licence 516487. CBA New Digital Businesses Pty Ltd is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124.

Things you should know

  • The information on this page is intended to provide general information in summary form for educational purposes. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.