Know Where You Stand With an Equifax Score
Understanding your Equifax Score can give you a better indication of how lenders view you when applying for credit. Your Equifax Score is a credit rating between 0-1200 that lenders may look at when you apply for a loan or credit. Generally, the higher your score, the better it is as it indicates lower risk.
Your Equifax Score is calculated using the information on your credit report at a certain point in time and, as it can be used by lenders to assess your application for a loan, it’s an important number to know. Your Equifax Score is dynamic and changes as information is added to or deleted from your credit file.
Your Equifax Score is also a great tool in helping you understand the information on your credit report.
If you have ever looked at your credit report, you’ll know that it can contain lots of unfamiliar information that can be difficult to understand. When you get your Equifax Score in one of our subscription packages, not only do you find out your Equifax Score or credit rating, but you’ll also learn what information on your credit report is contributing to that rating, good and bad. We call this information 'contributing factors'. It’s important to understand what's contributing to your credit rating as there may be things you can do to help improve your credit rating. You can find out how to improve your Equifax Score here. If you’re after your free credit report, you can get it here.
Want to find out your credit rating? Get your Equifax Score now.
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Check out our informative infographic to understand what goes into your credit profile and what it can be used for.
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Your credit report holds information relating to your credit history and it can help credit providers, such as banks, financial lenders, telco and utility companies, get a clear picture of your credit worthiness when you make an application for a loan or credit contract.
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