Your Equifax credit score is shown as a number as well as a percentile range, indicating where your score falls within the scores of other credit-active Australians in our credit database. Our scores (which you’re compared to) are evaluated on a regular basis, and the algorithm is updated when necessary to take into account demographic and economic changes. To help you understand where your score stands in comparison to others, Equifax use a risk grade:

• Below Average (Bottom 20%) – Based on past data, credit grades in this category suggest that an adverse event such as a default, court judgement, personal bankruptcy or similar is more likely to be recorded on a credit file within the next year when compared to the average active Australian population as tracked by Equifax’s credit bureau.
• Average (21% – 40%) – Based on history, credit scores in this category suggest that an adverse event such as a default, court judgement, personal bankruptcy, or similar will be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded by Equifax’s credit bureaus.
• Good (41% – 60%) – Based on history, scores in this category indicate that an adverse event such as a default, court verdict, personal bankruptcy, or similar is less likely to appear on your credit file during the following year than in the general population recorded by Equifax’s credit bureau. To put it another way, the probabilities of no negative events showing up on your credit report within 12 months are greater than those of the typical population. As a result, this score has been designated as “good” overall.
• Very Good (61% – 80%) – Based on past experience, this category suggests that a bad event such as a default, court judgment, personal bankruptcy, or similar is unlikely to appear on your credit file in the next year when compared to the average credit active Australian population as recorded by Equifax’s credit bureau. In other words, the chances of no negative events appearing on your credit file in the next 12 months are more than 2 times greater than those of the average person. As a result, this score has been assigned a very good population grade.
• Excellent (81% – 100%) – According to history, grades in this category indicate that an unfavorable occurrence such as a bankruptcy, court judgement, personal insolvency, or similar is extremely unlikely to show up on your credit file during the following year when compared to the average active Australian population recorded by Equifax on its credit bureau. To put it another way, the chances of no negative events showing up on your credit report in the next 12 months are more than 5 times better than those of the general public. As a result, this score has been designated as excellent population status.

Your Equifax credit score may differ from the one that lenders see. It’s crucial to note that credit scores are dynamic and vary depending on when they’re generated and how they’re used. Knowing your credit score might assist you in determining how companies think of you.

Credit Repair Ausvengers is here to help you repair your credit and achieve your financial goals. We understand that repairing your credit can be a daunting task, but our team of credit repair experts will work diligently to get the job done. Contact us today for more information about our services or to get started on repairing your credit. We look forward to helping you reach your financial dreams!