,
Your WisrCredit position is

Back of the pack

-1

0
EXPERIAN
1000

-1

0
Equifax
1200

What do these scores mean?
What happens if I’m missing a score?

What do these scores mean?

Equifax

Below average to average (0-509).

It‘s more likely an adverse event will be recorded on your file in the next 12 months. You are in the bottom 20% of Equifax’s credit-active population.

Average (510-621).

This score suggests that it‘s likely that you will incur an adverse event in the next 12 months. Your score places you in the bottom 21-40% of the credit-active population.

Good (622-725).

Adverse events are less likely to be recorded for the next 12 months, You fall in the mid-range (41-60%) of Equifax’s credit-active population.

Very good (726-832).

Unfavourable events are unlikely to be recorded in your credit file within the next 12 months. Your score places you in the second-highest percentile range of the credit-active population (61-80%).

Excellent (833-1200).

Adverse events are highly unlikely to happen within the next 12 months when compared to the average Australian. The odds of no adverse events occurring on your credit file in the next 12 months are five times better than the population average and you in the top percentile range (81-100%).

Experian

Below average (0-549).

Likely to be considered a poor credit score by a credit provider. Consumers with an Experian Credit Score under 549 are more likely than the average consumer to have an adverse event, such as a judgment, bankruptcy or a default recorded on their file within the next 12 months.

Fair (550-624).

Consumers with an Experian Credit Score between 550 to 624 have a higher likelihood to have an adverse event, such as a judgment, bankruptcy or a default recorded on their file with the next 12 months than the average consumer.

Good (625-699).

Consumers in this range have on average the same likelihood of an adverse event, such as a judgment, bankruptcy or a default being recorded on their file within the next 12 months as the average population.

Very good (700-799).

Consumers in this range are unlikely to have an adverse event, such as a judgment, bankruptcy or a default recorded on their file with the next 12 months.

Excellent (800+).

Indicates an excellent Experian Credit Score and is well above the average Experian Credit Score. Consumers with an Experian Credit Score of 800+ are very unlikely to have an adverse event, such as a judgment, bankruptcy or a default recorded on their file within the next 12 months.

What happens if I'm missing a score?

Why am I missing a credit score?

There are a couple of possible reasons why you are missing a credit score from one of the credit reporting bureaus. You may not be active with any financial products that they’ve picked up on or, if you’ve recently changed your name or address, your personal information may not yet be updated on database records.

What should you do?

The best approach is to contact the relevant credit reporting bureau directly.

Back of the pack

You may be a little late out of the blocks when it comes to racing towards financial fitness. Your scores from the leading credit reporting bureaus suggest you fall within the bottom 20% of people with credit scores.  To move through the pack you’ll need to take steps to improve your financial fitness.

Challenger

OK, you’ve got some ground to make up as you race towards financial fitness. Your credit scores suggest you’re probably somewhere between the 30-50 percentile of people with credit scores. With a little training you could soon move yourself up the rankings.

Pack runner

If financial fitness was a race you’d be right in the credit score pack. Your credit scores indicate you’re pretty much the average Australian as far as financial fitness goes. The upshot is that you’re close to achieving credit score greatness. With some dedication you could soon be a financial contender.

Contender

Well done on flexing your credit-worthy muscles. You're a highly regarded borrower and sit around the top 20% of the credit-active population. You know what you're worth, and you should use it to command the best deal you can when borrowing.

Front runner

Well done on flexing your credit-worthy muscles. With a strong rating across all three credit scores you’re a highly regarded borrower and sit in around the top 20% of the credit-active population. You know what you’re worth, and you should use it to command the best deal you can when borrowing.

The wisrcredit position is an average representation of your credit scores form the credit reporting bureaus and is not meant to be used or interpreted as a replacement for any of the individual credits scores.

Take a look at these articles.

Read some tips on what you can do to improve your score and more about financial wellness with these blogs.

Anatomy Of Your Credit Score

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How To Improve Your Financial Health

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Reasons For Different Credit Scores

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