09 January 2018
Credit ratings are used by lenders to understand more about the credit history of an applicant. Your credit rating changes over time as your financial circumstances change. At Cash Converters, we use this credit rating information as part of the decision making process when you apply for a Personal Loan.
Credit ratings are generally a score between 0 and 1200 and are grouped into five categories from ‘excellent’ to ‘below average’. The score is calculated by the credit rating agency based on a number of factors:
You can obtain a copy of your credit report through the following ratings agencies:
Free credit reports are often available in limited circumstances or once every twelve months.
Do you really need a loan today? *
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems. Check your options before you borrow:
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.