This coincides with the launch of an online interactive map, which shows for the first time the hot spots for credit scores across the nation at GetCreditScore.com.au/creditscoremap, allowing consumers to compare their own credit scores against those across the country.
GetCreditScore.com.au uses the VedaScore credit rating between zero and 1200. The VedaScore summarises the information in a person’s credit report at a point in time into one easy to understand number, which is independent of individual income. By understanding their score consumers can be empowered to get a better deal on financial products.
GetCreditScore.com.au has now given away over 160,000 free credit scores and is creating a consumer movement, with your everyday Australian now more able to access personal credit information, which can help them save money on financial products.
GetCreditScore.com.au Managing Director, David Scognamiglio said it’s crucial that all Australians know their credit score to manage their financial health and get a better deal. “A good credit score can affect your access to better deals on personal loans and credit cards and more Australians need to be awar“Regardless of interest rate rises or credit card fees, consumers have actually never been as empowered as they are now to get a great deal.
“If you have a good credit score it puts you in a better position to ask for more from a financial institution. If your score is not so good you can work to improve it to help you get a better deal in future” he said.
VedaScore draws on data from Veda, Australia’s leading and most accurate credit bureau. It is used by thousands of lenders and credit providers, using credit information built up over many years, providing a predictive score. This helps Australian’s truly understand where they stand to make well informed credit decisions.
GetCreditScore.com.au is a joint initiative by SocietyOne and Veda aiming to give away one million credit scores to empower consumers. Your credit score is a number that represents the information contained in your credit report. It attempts to give creditors an idea of how financially responsible you are.
To read the chart of the best and worst areas for credit scores across all Australian capital cities click on the link below:
Source: Veda Press Release