Calculate your credit score



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Home loan comparison

Lender

Variable
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loans.com.au – Variable Home Loan (LVR < 90%)

    Variable
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    HSBC – Home Value Home Loan (Principal and Interest) (LVR < 80%)

      Fixed
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      Newcastle Permanent – Fixed Rate Home Loan (Principal and Interest) 1 Year

        Variable
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        Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 60%-80%)

          Variable
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          Athena – Straight Up Owner Occupied - Celebrate (LVR 50%-60%) (Principal and Interest)

            Fixed
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            IMB Bank – Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR ≤ 80%)

              Variable
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              Liberty Financial – Liberty Low Rate Home Loan (LVR < 95%)

                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of July 25, 2024. View disclaimer.

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                Purchase: Credit Score Calculator

                This calculator provides you with an indication of your credit score. It is a general guide and does not provide your credit score nor an indication of the contents of your credit report.

                Assumptions:

                The calculator is based on the information provided by the user, and does not relate to the information on the user's credit report. The calculator uses metrics from Equifax, Get Credit Score, and Experian in order to weight the information provided by the user to calculate an indicated credit score.

                The calculator assumes that each of the answers provided by the user represents a credit score range of between below average to excellent, and collates those answers into an estimated credit score based on the weighting used by the calculator.

                What is a Credit Score?

                To simply put it, a credit score is a numerical representation of your trustworthiness as a borrower. Banks and lending companies sometimes use this as a gauge if you're a reliable borrower and capable of paying back your debts.

                Your credit score also has a significant impact on certain factors such as how much money lenders are willing to lend you, your loan interest rates, your credit card limit, and whether you will be approved for a loan or not.

                Things like high credit card debts, a number of failed credit applications and bankruptcy declaration can negatively impact your credit score and will make it harder for you to get approved for a loan.

                On the other hand consistent and on-time loan repayments, and not borrowing beyond your capacity positively impacts your credit score and can help to further improve it.

                How is Credit Score Calculated?

                Credit scores are calculated based on the information on your credit report. Your score will be between 0 to 1,000 or 0 to 1,200 - this depends on your credit reporting agency.

                Your score will be based on the factors relating to your credit such as:

                • your credit history pattern, such as your loan applications that may have failed previously

                • the amount of money you've borrowed

                • your repayment performance - whether you are meeting the scheduled repayment time or not

                • your credit profile characteristics such as the age of your credit history

                • personal information such as such as age, length of employment, and length of time at your current address

                Credit Score FAQ

                A 700 credit score is considered a 'very good' score as it is above the average score which is between 625 to 699.

                A decent credit score to buy a car would be 620 to 728 which is considered 'good'. While some lenders may require higher bracket, this in general is a decent credit score for auto loan.

                A decent credit score to buy a house is around 660 and 700. This is considered good and accepted by most lenders but some may require a higher score.

                To quickly raise your credit score, you can do the following:

                • settle all your remaining debts or outstanding balances
                • pay additional monthly repayments (if allowed by your lender)
                • increase your credit limit
                • refrain from having a delayed payment on your monthly debts

                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of 9 July 2024.

                ^The addition of offset sub-account means your comparison rate will change.

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