Four out of five Australians have never tried to improve their credit score

Angus Kidman 19 September 2016


Yet 25% of us are worried about how it will affect applications for loans and credit cards.

A survey of 2,033 Australians conducted for found that 82% of us have never made any attempt to improve our credit scores. While our use of credit is growing, we don't seem as keen to try and maximise our access to credit by making sure our credit score is as high as possible.

25% of those surveyed were worried that their credit score would impact on any future application for credit, while 9% of people said they had been rejected as a result of their credit score. The younger you are, the more likely you are to be concerned, with 40% of generation Y expressing worries about their credit score's impact on application, compared to 31% of generation X and 11% of baby boomers.

Credit scores provide a quick summary of individual credit history, and are frequently used by lenders as a key element when assessing credit applications. There are a range of strategies you can use to improve the score, some of which are clearly better known than others. Popular techniques identified in the survey include increasing savings to pay off debt (picked by 56%), consolidating debts into a 0% balance transfer card (27%) and setting up a credit card to establish a credit history (25%)

If you want to learn your own credit score, you can check what it is for free using finder's credit score checking service. Checking your score won't affect your credit rating, but every application you make is recorded on your credit file, so it's worth knowing where you stand before seeking out a credit card, personal loan or mortgage, and taking steps to improve your score if necessary.

Curious about your credit score? Find out now for free.
Get your free credit score today

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4 Responses to Four out of five Australians have never tried to improve their credit score

  1. Default Gravatar
    Karleine | September 20, 2016

    My credit rating please

    • Staff
      Elizabeth | September 20, 2016

      Hi Karleine,

      You can get your free credit score on this page.

      I hope this helps,


  2. Default Gravatar
    Joel | September 20, 2016

    Hey guys,

    I have a shocking score as I was very stupid when I was younger. How would I go about improving my score

    • Staff
      Elizabeth | September 20, 2016


      Thanks for your question.

      We have a guide on how to improve your credit score that you can read here.

      I hope this helps,


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