Credit Savvy credit score
How to get your free Experian credit score with Credit Savvy.
What is Credit Savvy?
Credit Savvy is an online service that gives Aussies access to their credit score for free. It launched in 2015 and is owned and operated by CBA New Digital Businesses Pty Ltd (the Commonwealth Bank).
Credit Savvy is a free service; it earns money from advertising from banks and other financial institutions. This means third parties may pay Credit Savvy to show you their products.
What service does it offer?
Credit Savvy works with Experian, one of three main consumer credit reporting companies here in Australia. Using Experian data, it provides the ability for you to find out your credit score along with resources to help you understand how they work and how to improve a low score.
With Credit Savvy's free online service you can:
- Get access to your credit score
- Track your credit score with monthly updates
- Learn what's behind your credit score
- Receive alerts when there are changes to your credit file
How to get your credit score with Credit Savvy
You can create an account with Credit Savvy by verifying your identity with a form of ID, such as your driver's licence, Medicare card or passport. Credit Savvy will then securely retrieve your credit data from Experian and get your credit score and credit file information to you within minutes.
You will need to create an account with Credit Savvy first and you can choose to sign up with your email, Facebook or Google account.
What are the credit score ratings from Credit Savvy?
The Experian model is used with your Credit Savvy credit score, which means that you will receive a score between 0 and 1,000. There are other credit bureaus that use slightly different scales and models.
The higher the number, the better your credit score. Generally speaking, the better your credit score, the greater chance you have of a lender approving your loan application. To help you see how you rank, your score will fall into one of five tiers ranging from "Excellent" for the highest scores down to "Below average" for ones that need more improvement.
| Score | Rating |
| 800-1,000 | Excellent |
| 700-799 | Very good |
| 625-699 | Good |
| 550-624 | Fair |
| 0-549 | Below average |
Source: Experian
There are several practical steps you can take to improve your credit score including paying your bills on time, lowering the limits on your credit cards and making frequent payments to any existing loans.
How does Credit Savvy get your credit score?
Credit Savvy credit scores are calculated by a statistical algorithm using information from your credit report. The score is generated by looking at some key attributes including your repayment history, the credit limit of each of your credit products and the number and type of credit provider that have made credit enquiries on your report.
It's important to note that there are some things that could have a negative impact on your Credit Savvy credit score, including:
- A large number of credit applications in a short period of time
- Defaults
- Court judgements
- Open accounts with debt collection agencies
- Missed payments
- Short term credit such as payday lenders
- Bankruptcy actions
Keen to learn more about credit scores? Read our full guide on credit scores that includes how they work, what they're used for and where else you can get your credit score for free.
More resources on Finder
More guides on Finder
-
Credit Repair Australia
Credit Repair Australia can help you sort out your credit score and improve your chances of getting a loan or credit card.
-
Mobile phone plans and credit checks
Missing a phone bill can end up hurting your credit score, but simply having a mobile plan won't impact your credit report.
-
What is a good credit score?
The average Australian has a "very good" credit score according to Finder analysis. Here's how credit scores are categorised in Australia, and how to check yours.
-
Credit reporting agencies in Australia
Credit reporting bureaus issue credit reports and scores to consumers and lenders. Discover how they work in this guide.
-
How to request a credit ban in Australia
Placing a ban on your credit report can help to protect you from fraud. Here's how to request and extend bans with Experian, Equifax and ilion in Australia.
-
Will cancelling a credit card affect my credit score?
If you're planning to cancel a credit card, here's what you need to know about the impact it could have on your credit score.
-
How to improve your credit score?
9 things you can do today to start improving your credit score.
-
Credit repair in Australia
How to remove incorrect negative listings from your report and adopt positive money habits to get your credit history back on track.
-
How long do credit enquiries stay on your credit file?
How to remove enquiries from your report in 4 steps and a guide for improving your credit score.
-
How to improve your credit score with a credit card
Discover how you can use a credit card to build or repair your credit history.
Ask a question