Key Takeaway
There's no single "good" credit score in Australia — it depends which bureau you're looking at. Roughly speaking, you want 622+ on Equifax, 700+ on Experian, or 700+ on illion. Below that? You've still got options.
Introduction
Alright, let's cut to it. If you're here, you've probably copped a knock-back on a loan. Maybe a few. And now you're wondering what's going on with your credit score and whether you're ever gonna get approved for anything.
Yeah, it's bloody frustrating.
Here's the thing though — most people don't actually understand how credit scores work over here. They reckon there's one magic number and if you're below it, you're stuffed. Nah, it's not that simple.
At Australian Credit Solutions, we've helped over 5,000 Australians sort out their credit issues. So in this guide, we'll explain what a credit score good range actually looks like in Australia, why you might have bad credit, and your actual options for getting finance.
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How Credit Scores Actually Work Here
Right, this is where it gets a bit mental. Unlike the Americans who all talk about their "FICO score," we've got three different credit bureaus in Australia — and they each use completely different scoring systems.
So a score of 650 means totally different things depending on where it's from.
Equifax (scores go from 0 to 1,200)
| Rating | Score Range |
|---|---|
| Below Average | 0-509 |
| Average | 510-621 |
| Good | 622-725 |
| Very Good | 726-832 |
| Excellent | 833-1,200 |
Experian (scores go from 0 to 1,000)
| Rating | Score Range |
|---|---|
| Very Poor | 0-549 |
| Poor | 550-624 |
| Fair | 625-699 |
| Good | 700-799 |
| Excellent | 800-1,000 |
illion (scores go from 0 to 1,000)
| Rating | Score Range |
|---|---|
| Below Average | 0-499 |
| Average | 500-699 |
| Good | 700-799 |
| Very Good | 800-899 |
| Excellent | 900-1,000 |
What this actually means for you: If a lender knocks you back because of your credit score, ask them which bureau they checked. Different lenders use different ones — some check all three.
Need Help With Your Credit?
Get a free, confidential credit assessment from our ASIC-licensed specialists.
What's Actually Dragging Your Credit Down?
Before you go searching for bad credit lenders, it's worth understanding what's on your file. Sometimes things that look like your fault actually aren't — and can be challenged.
Defaults
A default is listed when you've owed more than $150 for more than 60 days after being properly notified. It's the big one. But here's the thing: if the creditor didn't follow the correct legal process, that default might not belong on your file.
Too Many Credit Enquiries
Every time you apply for credit — even if you get rejected — it leaves a mark. Multiple applications in a short period makes you look desperate to lenders.
Late Payments
Under Comprehensive Credit Reporting, missed payments now show up on your file. Even a few late payments can drag your score down.
Court Judgments
If a creditor took you to court over an unpaid debt, the judgment stays on your file. But sometimes these are listed even when the underlying debt was disputed.
Expert Tip from Elisa Rothschild:
"About 30% of the defaults we review don't meet the legal requirements for listing. Creditors often skip steps like sending proper notices or listing incorrect amounts. If you've got defaults on your file, it's worth getting them checked before paying extra for a bad credit loan."
Your Options for Getting Finance with Bad Credit
Option 1: Fix Your Credit First
This is often the smartest play. If there are errors or improperly listed items on your credit file, getting them removed could bump your score enough to qualify for mainstream lenders.
Option 2: Specialist Bad Credit Lenders
These lenders specifically work with people who've been knocked back elsewhere. The trade-off? Higher interest rates and fees. We're talking rates that can be 5-10% higher than mainstream lenders.
Option 3: Secured Loans
If you've got an asset like a car or property, some lenders will use that as security and care less about your credit score.
Option 4: Wait It Out
Defaults drop off your file after 5 years (or 7 if sold to a debt collector). If you're close to that, sometimes waiting is the cheapest option.
Warning
Be careful of predatory lenders who target people with bad credit. Always check the comparison rate (not just the advertised rate) and calculate the total cost of the loan before signing anything.
When to Get Professional Help
Look, you can try fixing your credit yourself. But if you've got defaults, serious credit infringements, or you're not sure what's on your file, getting professional help often makes sense.
At Australian Credit Solutions, we offer a free credit assessment where we look at your file and tell you exactly what can be challenged. No obligation, no pressure.
Call us on 0489 265 737 or fill out the form on this page. We've helped over 5,000 Australians clean up their credit files — with a 98% success rate on removable listings.
Frequently Asked Questions
What Our Clients Say
928+ verified reviews from real clients
"They managed to remove my default quickly, which is truly impressive. Their efficiency and dedication exceeded my expectations. I highly recommend Australian Credit Solutions."
"I'm really happy with the service I received. The team was very supportive throughout the process, and the consultant was professional and helpful. Highly recommend their team."
"After struggling with credit issues for years, I finally found a solution. The team's expertise and professionalism made the whole process smooth and stress-free."
"After being rejected for a car loan due to an old default, I contacted Australian Credit Solutions. Within a few months, the default was removed and I got my loan approved!"
Elisa Rothschild
(BA/LLB)Principal Lawyer & Director
With over 12 years of experience in credit law, Elisa has helped thousands of Australians remove unfair credit listings and rebuild their financial futures. She leads Australian Credit Solutions' legal team with a focus on consumer advocacy and regulatory compliance.
Need help with your credit file? Get expert advice from our team.
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