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Why your credit score matters more than ever


It's key to thriving in 2021 – here's how to get it for free.

Your credit score isn't just a number. It's a measure of how well you're managing your finances. And managing your finances well is going to be a crucial skill in 2021.

2020 has been a tough year. We're still in the grips of the coronavirus pandemic, but we're starting to see vaccine deployment in the US and UK, and Australia is expected to follow suit from March 2021.

We won't see an instant switch back to "normality" – international flights from Australia are expected to be minimal until the end of the year, for instance – but life should be less restrictive than it has been for most of 2020.

When restrictions ease, new opportunities arise. You might start thinking more seriously about buying your first home. You might decide to switch to a new frequent flyer credit card and plan how you'll spend the bonus points. You might take out a loan for a new car.

Your credit score is crucial for any of those decisions. When a bank is weighing up whether to give you a loan, your credit score is essential information. It's not the only thing that will be considered, but it's a really helpful benchmark. If you've got a good or excellent score, your chances are solid. And if you have a low score (below 550), you can put a plan into action to improve it.

Happily, you can keep track of your credit score for free. Just use the Finder app and you can easily and securely access your Experian credit score. The app will send you a monthly update on your score, so you can always be sure you're on top of your money. And that will help make for a better 2021.

Angus Kidman's Findings column looks at new developments and research that help you save money, make wise decisions and enjoy your life more.

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