How do I understand my Equifax Score?

Your Equifax Score is an important number that summarises the information in your Credit File at a point in time and is expressed as a number between 0 and 1200. Your Equifax Score is dynamic and will change as information is added to and deleted from your credit report. In simple terms, the higher your Equifax Score, the better your credit profile which is an indication that you may be more likely to be accepted for credit.

If you’ve got a low Equifax Score, your credit applications may only be approved by lenders that charge a much higher interest rate or you may have difficulty gaining access to credit at all.

When you receive your Equifax Score as part of an Equifax Credit & Identity annual subsciption package, you’ll also receive a list of score factors – things that have influenced your score. This can give some insight into what you’re doing well and what areas might need some work, so you can improve your score over time.

You can also get a copy of your free Equifax credit report here. Note this does not include an Equifax Score.