Check your credit score monthly if possible, or at least every 3 months, because most Australian credit data updates roughly monthly, and a free credit report is available every quarter from each credit reporting body. Check before any major credit application, after a decline. Whenever there’s a risk of identity fraud, none of these checks will hurt your score.
Key takeaways
- Check your score monthly to stay aligned with typical reporting cycles, and at least quarterly, since a free report is available every 3 months from each bureau.
- Checking your own score is a soft check and won’t affect your score.
- Always check before applying for a loan, credit card, or refinancing.
- Request a free report within 90 days after a credit refusal, or if you’ve corrected information on your report.
- Watch what lenders see: repayment history is shown for 24 months, hard enquiries and defaults can remain for five years.
Why this matters
Lenders use credit reports and scores to assess risk, approve applications, set limits, and price interest rates, so regular checks help catch issues early. Australia uses comprehensive credit reporting, so on-time repayments boost a profile and late payments can lower it, making consistent monitoring practical and useful. Different agencies may hold different data, so a complete view means checking each major bureau.
Does checking hurt your score?
No—checking a personal credit report or score is a soft enquiry and doesn’t impact the score. Hard enquiries from applying for credit are recorded and can affect a score, so keep applications spaced and deliberate.
How often do scores update
Scores change when new information arrives at the bureaus, which often occurs monthly in Australia. There’s no fixed schedule, but monthly reporting is a common pattern across lenders and utilities, so a monthly check aligns with data movement.
When to check more frequently
- Before applying for credit: confirm accuracy and fix issues before a lender views the file.
- After a decline: request a free report within 90 days to see why and address problems.
- After a data breach or suspected identity theft: request a temporary ban and monitor closely.
- While fixing errors: check after corrections so updates appear across reports.
Who holds scores in Australia?
Australia’s three main credit reporting bodies are Equifax, Experian, and illion, and each may hold different information. Report and score ranges differ by agency, so results won’t always match across all three.
Score ranges to know.
- Equifax: score ranges from 0 to 1200.
- Experian: Many Australian guides reference a 0 to 1000 range.
- illion: many Australian guides reference a 0 to 1000 range.
What lenders see (and for how long)
- Repayment history information appears for 24 months and reflects whether payments were made on time.
- Hard enquiries (credit applications) typically remain for five years.
- Defaults usually remain for five years, and serious infringements can remain for seven.
The recommended rhythm
- Monthly: aligns with common reporting cycles, helps catch mistakes and fraud early, and builds habits around repayment dates.
- Quarterly: matches Australia’s free report entitlement from each bureau, creating a low-cost baseline check.
- Event-driven: always check before applications, after declines, post–data breach, and after submitting corrections.
Step-by-step: check your credit score and report
- Decide what to check today: quick score check, or full report for deeper review.
- Choose a bureau: Equifax, Experian, or illion; each may have different data, so check each over time.
- Request your free report: eligible once every 3 months, with expedited free access after a credit refusal or correction.
- Verify identity and submit the request: allow several days for delivery if not available instantly online.
- Read the report line by line: confirm personal details, accounts, repayment history, enquiries, and defaults.
- Flag any errors: contact the bureau to fix wrong or out‑of‑date entries at no cost.
- Recheck after fixes: confirm updates have flowed through before any new application.
Checklist: monthly 10‑minute review
- Check your score movement versus last month.
- Scan recent enquiries; confirm there are no unknown applications.
- Confirm scheduled repayments posted on time; address any delays immediately.
- Note upcoming applications and plan spacing to avoid multiple hard enquiries close together.
Checklist: quarterly deep-dive (free reports)
- Pull your free report from a different bureau each quarter to cover all three across the year.
- Verify personal information and address history.
- Review all open and closed credit accounts for accuracy.
- Check repayment history for the past 24 months for accuracy.
- Review defaults and court judgments; if paid, confirm they’re marked as paid.
- Log all findings in your tracking template and set fixes.
How to space out credit applications
Avoid multiple applications in a short window, because each hard enquiry can stay on file for up to five years and may affect the score used by lenders. Compare options first, then apply to one targeted product at a time, waiting for the outcome before submitting another application. If a decline occurs, pull a free report and fix issues before trying again.
Improving score over time (quick wins)
- Pay on time—those on‑time repayments build positive history under comprehensive credit reporting.
- Keep accounts accurate—close unused credit lines if not needed and check they are recorded correctly.
- Correct errors quickly—it’s free to fix inaccuracies with the bureaus.
- Let positive patterns build—repayment history shows for 24 months, so consistency matters.
How to handle fraud risk
If affected by a data breach or identity theft, request a temporary ban on your credit report so new applications aren’t approved in the background. While the ban is active, check scores and reports more frequently and watch for unfamiliar enquiries or accounts. Keep copies of breach notices and lodge corrections promptly if any fraudulent entries appear.
Australia’s free report rules (what to claim)
- One free report every 3 months from each bureau.
- Another free copy if you were refused credit in the last 90 days.
- Another free copy if credit‑related personal information has been corrected.
What to do before any big loan
- Check the score and report at least one full cycle (about a month) before applying to allow time to fix errors or repay small overdue amounts.
- Confirm there are no new hard enquiries in the past few weeks, if possible.
- Make sure any paid defaults are marked accordingly, and repayment history is accurate.
FAQs
- Does checking my score lower it? No, personal checks are soft enquiries and do not affect the score.
- How often should I check? Monthly for active monitoring, at least quarterly using free reports, and always before credit applications.
- What’s a good score? Equifax scores range from 0–1200, with higher being better; other bureaus use 0–1000 scales.
- How long do marks stay? Repayment history 2 years; enquiries and most defaults 5 years; serious infringements 7 years.
Action plan (90 days)
- Week 1: Get a current score and one free report; list issues and quick fixes.
- Week 3–4: Confirm all repayments on time; set payment reminders or direct debits.
- Week 5–6: Request corrections for any errors and document all submissions.
- Week 8: Pull a score update; check for new enquiries and confirm corrections have landed.
- Week 12: Pull a free report from a different bureau and repeat the process.
Where to get help
If repayments are getting hard to manage, contact the lender’s hardship team quickly and agree on a plan that fits the budget. Keep checking the report during any hardship arrangement to confirm repayment status and that updates post correctly.
Final note and next steps
Monthly checks keep pace with typical reporting cycles, while quarterly reports round out a full view across all bureaus and protect against errors or fraud. For personalized support with reports, disputes, and planning applications, check out our services or get a free quote with Easy Credit Repair.
Disclaimer: This content reflects Australian rules and guidance at the time of writing and is based on research and our views; for personal questions or updates, please reach out to us.
