5 Things That Can Affect Your Credit Score

By requesting a credit limit increase, you’re giving yourself access to more credit. Sounds like a perfectly reasonable thing to do if you need it. Each credit card company will handle applications differently but some will do a hard enquiry against your name to determine your creditworthiness.

We all have some financially responsible friends and we all have those that, well… could use a credit score check themselves. By leaving a utility bill in your name with a mate, you could be risking missed payments or unresolved issues. These could be recorded against YOUR score!

Many official unpaid fines are reported so when you let that early morning parking fine go unpaid for too long, you’re looking at a potential black mark against your credit.

Well, indirectly. When you move house, you often change utility providers. Like requesting a credit limit increase, a new utility provider is likely to do a hard enquiry which can impact your credit.

Your credit reports are compiled with information from multiple sources. Chances are, there’s going to be an error from time to time. The good news is Australians are entitled to a free credit report once annually to spot errors like these!