Your Equifax Credit Score is displayed as a number as well as a percentile range, showing where your score sits in relation to other credit-active Australians held in our credit reporting database. Our scores (which you’re compared to) are reviewed regularly, and the algorithm adjusted where necessary to account for population and economic changes. To provide you with an understanding of where your score sits compared to others, we use a risk grade:

• Below Average (Bottom 20%) - Based on history, scores in this category indicate that an adverse event such as a default, court judgement, personal insolvency or similar, is more likely to be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded on Equifax’s credit bureau.

• Average (21% - 40%) - Based on history, scores in this category indicate that an adverse event such as a default, court judgement, personal insolvency or similar, is likely to be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded on Equifax’s credit bureau.
   
• Good (41% - 60%) - Based on history, scores in this category indicate that an adverse event such as a default, court judgement, personal insolvency or similar, is less likely to be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded on Equifax’s credit bureau. In other words, the odds of no adverse events occurring on your credit file in the next 12 months are better than the average population odds. Hence this score has been classed as the good population grade.
   
• Very Good (61% - 80%) - Based on history, scores in this category indicate that an adverse event such as a default, court judgement, personal insolvency or similar, is unlikely to be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded on Equifax’s credit bureau. In other words, the odds of no adverse events occurring on your credit file in the next 12 months are more than 2 times better than the average population odds. Hence this score has been classed as the very good population grade.
   
• Excellent (81% - 100%) - Based on history, scores in this category indicate that an adverse event such as a default, court judgement, personal insolvency or similar, is highly unlikely to be recorded on a credit file in the next 12 months when compared to the average credit active Australian population as recorded on Equifax’s credit bureau. In other words, the odds of no adverse events occurring on your credit file in the next 12 months are more than 5 times better than the average population odds. Hence this score has been classed as the excellent population grade.

Your Equifax Credit Score may differ from the score that credit providers see. It is important to remember that credit scores are dynamic and change depending on when the score is generated and in what circumstances it is requested. Knowing your credit score may help you get a better indication of how credit providers view you.

If you’re curious about what your Equifax Credit Score is and how you compare to others, you may consider signing up to a monthly subscription package. If you would like to get a copy of your free credit report you can do so here. The free credit report does not include your Equifax Credit Score. ​