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Your credit score is a number a credit reporting body calculates from your credit report, and lenders use it to decide whether to lend to you and at what price. You can get your credit report free every three months from each credit reporting body, and Moneysmart and the OAIC currently list two for consumer credit reports: Equifax and Experian.
This guide covers how to get your report and score free, what goes on a report and how long it stays, what actually moves a score, and how credit cards and buy now pay later affect it.
By Better Rate Mate Editorial Team · Last reviewed
You have a right to a free copy of your credit report once every three months from each credit reporting body, and also if you've been refused credit in the past 90 days or your information has been corrected. At other times a body may charge a fee, but it mustn't be excessive. The OAIC's list (updated 14 April 2026) names Equifax (138 332) and Experian (1300 783 684). They can hold different information, so it's worth checking both.
Your score may come free from the reporting body or from an online credit score provider that uses their data. Moneysmart's warnings: you usually agree to marketing when you sign up (you can opt out afterwards), and you should avoid any provider that asks you to pay or for your card details. Your report records requests made by credit providers when you apply for credit; getting your own report or score isn't a credit application.
Since comprehensive credit reporting, a report includes positive information as well as negatives: each credit account you've held in the last two years with its limit, and your repayment history, including missed payments (not made within 14 days of the due date). The OAIC sets how long each item can stay.
| Information | Stays for |
|---|---|
| Credit enquiry (each application) | 5 years |
| Repayment history | 2 years |
| Current consumer credit accounts | 2 years from the end of the credit |
| Financial hardship information | 1 year |
| Default | 5 years |
| Court judgment | 5 years |
| Serious credit infringement | 7 years |
| Bankruptcy | The later of 5 years from the start or 2 years after it ends |
Moneysmart says your score is based on what's in your report, such as how much you've borrowed, how many applications you've made and whether you pay on time. Depending on the reporting body, scores run from zero to either 1,000 or 1,200, and a report also shows a band (such as low, fair, good, very good or excellent). A higher score means a lender sees you as less risky.
What kills a credit score fastest? Missed payments and defaults, followed by a cluster of new credit applications.
A credit card affects more than your score. When you apply for a home or personal loan, lenders count your card's full limit, not the balance. ASIC's 2024 review found lenders generally apply a serviceability allowance of 3.8% (or more) of the card limit per month; on a $10,000 limit that is $380 a month counted against you even if you owe nothing. Reducing or closing unused cards before a home loan application can help, and you have a legal right to reduce a limit or cancel, including online. See our home loans guide.
Since 10 June 2025 buy now pay later has been regulated as credit, and providers must check your credit history before lending. Moneysmart says BNPL arrangements, applications and late fees can appear on your credit report, and late or missed payments can reduce your score. A BNPL hardship arrangement, unlike one on a card or loan, won't appear on your report. See buy now pay later vs credit cards.
Request your free credit report from Equifax (138 332) and Experian (1300 783 684); you're entitled to one from each every three months. Some reporting bodies and online credit score providers also give your score free.
As at September 2026, the OAIC and Moneysmart list two credit reporting bodies for consumer credit reports: Equifax and Experian. They can hold different information, so check both.
Scores run from zero to 1,000 or 1,200 depending on the reporting body, and each groups scores into bands such as fair, good, very good and excellent. Compare your score to that body's bands, not to another body's scale.
Missed repayments and defaults, which stay on your report for two and five years respectively, and many credit applications in a short time.
No. Checking your own score or report isn't a credit application. Applying for credit is what adds an enquiry.
Moneysmart says a financial hardship arrangement does not affect your credit score. The months it's in place can show on your report for 12 months, and you're shown as up to date if you stick to it.
Card types, fees, interest-free days and credit limits, explained in one place in ourguide to comparing credit cards. When you're ready, tell us how you use a card and we'll match you on rate and fees.
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