From your postcode to last year's pay rise, here are 10 factors that don't affect your credit score (and 10 that do).
Your credit score is the history of everything you've ever borrowed translated into one score – nothing more. But there are a bunch of misconceptions floating around Internet forums and the American media (which doesn't apply to Aussies) about what can impact your credit score.
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If you're confused about what's listed on your credit report and the factors that can impact your financial history, here are 10 things that can't shape your score and 10 things that can.
|Your salary||How long you've been with your employer|
|Paying your credit card bill 2 days late||Paying your credit card bill more than 14 days late|
|Race, ethnicity, sexual orientation||Defaults, court judgements and serious infringements|
|Current credit card balance(s)||Credit card limit(s)|
|Number of Instagram followers you have||Number of credit products you have|
|Where you live||How long you've lived at your current address|
|Savings and investments||Personal loans and mortgages|
|Your best friend's finances||Your partner's finances if you have a joint product|
|Credit utilisation ratio||New credit enquiries (whether approved or declined)|
|Declaring fruit at customs||Declaring bankruptcy|
Were you fooled by any of the factors above? If so, you're not alone. And if you don't know your credit score, you can check it and get your comprehensive credit report for free through Finder.
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