About Credit Scores

An Equifax Credit Score is a summary of an individual’s credit information held by Equifax. It indicates how credit providers and finance/utility providers may view you when you apply for credit.  An Equifax Credit Score is derived from the information on an individual’s credit file at a specific point in time.

An Equifax Credit Score is one indicator of risk. A higher Equifax Credit Score indicates a lower credit risk. Your Equifax Credit Score is important. This is because it can be used by credit providers, such as banks and other lenders, to help determine whether to lend you money, how much money to lend you, and the terms and interest rate at which the money will be lent. Some lenders now offer special deals on personal loans and credit cards to individuals with impressive credit scores.

Your Equifax Credit Score is important as it can provide you with a better indication of how lenders may view you when you apply for credit.  Equifax Credit Scores may be used by credit providers, such as banks and other lenders to help them decide whether to lend you money and in some cases can even impact on how much they will lend you, the terms and rate that they offer you. 

Once you know your Equifax Credit Score, you can take steps to improve it if needed, so you can choose a credit provider who may reward your good behaviour with access to better finance deals over time

Your Equifax Credit Score can also be used by phone companies and utility providers to help them decide whether or not to accept your application for a post-paid mobile phone, electricity, gas or water contract.

It is important to note that an Equifax Credit Score is only one indicator that may be used by a credit provider when it is deciding whether or not to extend you credit. A higher Equifax Credit Score is considered better as it indicates lower risk. Credit providers can also use information on your credit application form, along with any other information they may have on you as an existing customer, against their own lending criteria and policies.

The way an Equifax Credit Score is used in practice by lenders may differ to the way it is displayed in the Equifax Credit and Identity portal. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not.

Information supplied by Equifax

Equifax has some simple steps you can follow to help you keep your credit report healthy:


Pay your loans and bills on time

Consider setting up direct debits and schedule loan repayments for your pay day.


Keep track of your credit commitments

Do your homework before applying for credit and keep track of your credit commitments. Making a number of applications within a short space of time will be recorded on your file and is not always looked upon positively by lenders.  This is because multiple credit applications are often a sign someone is under financial stress.


If you move house or update your contact details, notify lenders

If you move or change your email address, make sure to update your contact details with any businesses that send you bills. If you don’t receive bills and don’t pay them, you could end up with defaults listed on your Credit Report. 


Let credit providers know if you’re in financial difficulty

If you contact them, they will often be willing to come to some arrangement with you. But if you fail to make your repayments with no explanation, you’ll probably end up with a default on your Credit Record.


Keep track of your credit record

Proactively manage your personal credit profile by regularly checking your Credit Report. You can do this by checking the information held by credit reporting bodies in Australia, including by Equifax in your Equifax Credit Report. You’re entitled to a free Credit Report once a year and whenever you have an application for credit denied. You also have the option of signing up to a monthly subscription with Equifax, which will entitle to regular credit reports, along with other tools that will allow you to monitor your creditworthiness.

Finance Options

Our range of finance options include:

Working Capital Finance

This form of finance operates similarly to cash flow finance because it is used to fund short-term requirements of a business in growth mode pending receipt of revenues.

Equity Release From Existing Plant & Equipment

Drawing down on the value of existing business assets can be a quick and efficient way to raise money to reinvest in your business.



On occasions, the best solution is to refinance to a lender that wants your business more than your current lender. Obtaining additional funds can often occur when refinancing too.

asset revaluation business finance perth

Asset Revaluation & Loan Top-Ups

As the value of your business grows so too should your borrowing capacity because you have more equity and security to offer a lender.

Get In Touch With One Of Our Specialist Brokers