Credit score

Free Credit Score Check & Guide

Whether you're looking to take out a personal loan or you'd like to apply for a credit card, your credit score is a crucial factor.

Download the Zable app to see:

Your free Equifax credit score
Personalised tips on how you can improve your score
How your score compares to others in your area and age range

Download the Zable app

illustration of a dark blue card with credit score in front of a night time backdrop

Why choose the Zable app for your credit score check?

Free credit score
Access your Equifax credit score and gain valuable insights into your credit history and factors that can impact your score
Track your spending
Get a clear picture of where your money goes by monitoring your accounts with ease.
Start rent reporting
Build your credit history by reporting your rent, without the need for a mortgage or loan.

See what our customers have to say

“Brilliant”

“The app is great to monitor spending and a great way to build your credit score”

Sally

“Highly Recommended!”

“Application process was simple, quick approval and card arrived within a couple of days. Very user friendly app helps me keep track of my spending. Would highly recommend Zable”

Viney

What is a credit score?

A credit score is a number representing your financial reliability. Lenders will use it to assess your risk when applying for credit such as a personal loan or credit card.

There are three big independent ‘credit bureaus’ that generate and store these scores called TransUnion, Experian, and Equifax.

You might notice that your score differs depending on the bureau the information is coming from, but they all tell a similar story. If you have a good credit score with one agency, you’ll likely have a good score with another. The higher your score, the better your chances of getting approved for credit.

Rating	Equifax	Experian	TransUnion
Very Poor	-	-	0 - 550
Poor or Low	0 - 438	0 - 640	551 - 565
Fair	439 - 530	641 - 860	566 - 603
Good	531 - 670	861 - 1000	604 - 627
Very Good	671 - 810	1001 - 1120	-
Excellent	811+	1121 - 1250	628 - 710

How is a credit score calculated?

Your credit score is a reflection of your credit behaviour in the past. When calculating your credit score, information found in your credit report is taken as an indicator of your likely future behaviour when it comes to managing your money and repayments.

Some of the factors that credit scoring models will consider when calculating your score include:

The number of accounts you have
Your payment history (paying bills on time)
The length of your credit history
Your available credit vs used credit
The types of accounts you have

What else affects your credit score?

We’ve covered the ways in which your credit score can be directly affected, but sometimes the potential impact is more nuanced. Below we answer your most frequently asked questions related to what can impact your credit score.

Does an overdraft affect your credit score?

Having an arranged overdraft is unlikely to affect your credit score but the way you use your overdraft can have an impact on your credit rating.If you have an arranged overdraft that you rarely dip into or clear the balance when you get paid each month, this shouldn't harm your score. However, if you have an unauthorised overdraft or incur charges for not paying back your overdraft, this could demonstrate to potential lenders that you struggle to manage your finances and may be a risky candidate for credit.

Does gambling affect your credit score?

This depends on where the money used for gambling is coming from. Gambling activity itself does not show up on your credit report or impact your credit history.

However, if you were to take out payday loans or cash advances to spend on recreational gambling, this could have a negative impact on your financial health and, should you miss repayments, your credit score.

Does a balance transfer affect your credit score?

Applying for a new credit card for a balance transfer typically results in a temporary credit score dip. However, by successfully managing your consolidated debt and paying it off promptly, you can potentially improve your credit score in the long run.

Does universal credit affect your credit score?

Claiming Universal Credit won’t impact your credit score.

Your credit score reflects your borrowing history, debts and repayment record. As Universal Credit is considered part of your income, it won’t appear on your credit report and therefore won’t affect your score.

Do student loans affect your credit score?

Unlike other loans and financial products for borrowing money, student loans do not appear on your credit report and, as a result, your credit score is not affected by them.

It's worth remembering that missing your student loan repayments can harm your credit score, though.

Does switching banks affect your credit score?

You should be careful not to close your oldest account, which could affect your score. But as long as you have repaid any outstanding overdrafts on your previous account, opening a new current account shouldn’t impact your credit rating.

Additionally, most banks will have to perform a 'hard credit check' when you apply for an account with them. These checks will appear on your credit report and influence your score.

"Keeping a close eye on your credit score isn't just good practice, it's essential. Your credit profile reflects your financial health, impacting everything from credit card and loan approvals to interest rates. Regular monitoring allows you to spot inaccuracies, track your progress and make informed decisions to ensure that your financial future remains on solid ground."

Adam McAllister - 5 years in financial services

How to improve your credit score

There are several steps you can take to improve your credit score, which can make it easier for you to secure a loan or credit card in the future.

Some of the steps include:

Using a credit card responsibly and making repayments on time - learn more about credit cards for building credit.
Keeping your balance under your available credit limit.
Keeping your longest running bank account open.
Reporting your rent payments to credit reference agencies.
Checking for errors in your credit report.
Registering to vote to prove your permanent address.

How can I check my credit score?

Download the Zable app to get a clear picture of your credit profile.

Once in the app, tap ‘Credit Score’ to be able to see your Equifax credit score, what’s boosting your score, what improvements you can make, and how your score compares to others in your area and age range.

Download the Zable app

credit score displayed on an iphone 14 pro

Credit score FAQs

Why should I check my credit score?

Checking your credit score is the first step you can take to improve it. This, in turn, can help boost your chances of getting approved to borrow money, and even help you get better rates.

On top of that, checking your credit report allows you to quickly spot signs of identity theft, such as unknown accounts being opened in your name.

What if there's incorrect information in my credit report?

If you find incorrect information, you should dispute it directly with the Credit Reference Agency (CRA) that holds the data. The CRA will then launch an investigation with the original lender to verify the information. If the data is found to be wrong, it will be corrected or removed from your file.

If my credit score is low, will I still be able to borrow?

It’s possible to borrow with a low credit score, but not guaranteed. Read more about loans for bad credit scores and cards for bad credit scores.

What credit score do you need for a mortgage?

There is no single minimum credit score required for a mortgage, as every lender uses its own criteria and scoring system.

A higher score (typically in the ‘Good’ or ‘Excellent’ range) increases your chances of approval and helps you access the most competitive interest rates, while a lower score may result in fewer options, higher interest rates, or a requirement for a larger deposit.

What credit score is needed to buy a car?

There is no definitive number when it comes to what credit score is required to purchase a new car. The credit requirements can vary from lender to lender, each using its own policies to evaluate your financial health based on your credit report.

As with any loan, the higher your credit score, the more likely you are to have your credit application approved. However, if you are applying to purchase a car using finance, you should find that you are still able to obtain the loan you need, even with a low credit score.