Equifax Credit Score Australia: What It Is and How It Works

Quick Answer: Your Equifax credit score in Australia runs from 0 to 1,200 — the highest range of the three Australian bureaus. A score of 661–734 is Good, 735–852 is Very Good, and 853+ is Excellent. Equifax is the bureau used by most major banks and mainstream mortgage lenders, making it the most important score for home loan applications. Defaults, court judgements, excessive enquiries, and missed repayments reduce your score. Professional removal of unlawfully listed defaults under the Privacy Act 1988 can improve your Equifax score by 100–300 points in 30–90 days.

Equifax is the most widely used credit bureau in Australia. If you're applying for a home loan through one of the big four banks, the lender is almost certainly checking your Equifax file — and your Equifax score is the number they see first. Understanding exactly how it works gives you a clear advantage when you're trying to improve your position.

Equifax Score Range and Bands

The average Equifax score in Australia sits around 550–620, depending on the demographic group. A score above 661 puts you ahead of a significant portion of the population. A score above 735 puts you in genuinely strong territory for most financial products.

What Goes Into Your Equifax Score

Equifax uses a proprietary algorithm, but the inputs are consistent with Australian credit reporting standards under the Privacy Act 1988 and the Comprehensive Credit Reporting (CCR) system introduced in 2018.

The main inputs, roughly weighted by importance:

Repayment history (highest weight): Under CCR, every lender who participates reports your monthly payment behaviour — on time or late — across all open accounts. This 24-month rolling record is the single largest driver of your ongoing score. Consistent on-time payments are the most powerful rebuilding tool available.

Defaults and court judgements (severe negative): A listed default immediately reduces your Equifax score by 80–200 points. Multiple defaults can push a score from Average into Below Average territory entirely. Defaults stay for 5 years from listing date — unless challenged and removed under the Privacy Act 1988 and Credit Reporting Code.

Credit enquiries (cumulative negative): Each hard enquiry reduces your score by approximately 5–20 points. Five or more enquiries in 12 months signals financial stress. Enquiries remain for 5 years.

Account age and mix (minor positive): Older accounts with positive histories contribute positively. A healthy mix of credit types is marginally better than relying on a single product type.

Credit utilisation (ongoing): High utilisation across credit cards signals financial stress. Below 30% is the target.

How to Get Your Free Equifax Credit Report

1. Go to equifax.com.au
2. Create a free account with your name, date of birth, email, and address
3. Verify your identity with a driver's licence or Medicare card
4. Access your score instantly in the dashboard; request the full report (standard 10-business-day delivery or instant via the online platform)

You're entitled to one free full credit report per year under the Privacy Act 1988. If you've been declined credit in the last 90 days, you're entitled to a free report regardless of whether you've already used your annual one.

How Equifax Scores Compare to Experian and Illion

Your Equifax score can differ significantly from your Experian or Illion score because different creditors report to different bureaus. A default on your Equifax file may not appear on your Illion file, and vice versa. Always check all three — the bureau your lender uses determines your outcome.

Real Case Study: Priscilla, Darwin — Equifax Score 398 to 673 in 52 Days

Priscilla, 42, a school administrator from Darwin, had an Equifax score of 398. Her file showed two defaults — one from a telecommunications company ($340) and one from a utility provider ($510) — both listed within the same 6-month period three years ago, following a difficult personal situation that had temporarily disrupted her finances.

She'd been managing her money well since then: no missed payments for 26 consecutive months, no new credit applications. But the two defaults kept her score in the Below Average band and prevented approval for a car loan she needed to get to a new job.

Her ACS assessment found that neither default had been listed with a Section 21D pre-listing notice — the written warning required at least 30 days before a default can be listed under the Privacy Act 1988. Both creditors had bypassed this requirement entirely.

We lodged challenges with both creditors simultaneously. The telecommunications company removed its listing in 31 days. The utility provider held out for 8 more days before complying. Both defaults were gone by day 39.

Result: Priscilla's Equifax score moved from 398 to 673 in 52 days — including time for the bureau to update after both removals were confirmed. She applied for a car loan and was approved at 9.8% p.a. through a mainstream lender. She only paid when we succeeded. Subject to individual assessment; results may vary.

Improving Your Equifax Score: Ranked by Speed

Frequently Asked Questions

What is a good Equifax credit score in Australia? A score of 661–734 is classified as Good by Equifax, which makes you eligible for most standard loan products at mainstream lenders. A score of 735–852 is Very Good — you'll access competitive rates and have strong approval odds. Excellent (853+) gives you access to the best available rates and the fastest approvals.

How often does my Equifax score update in Australia? Your Equifax score updates whenever new information is added to your file. Under CCR, participating lenders report repayment data monthly, so your score can change each billing cycle. A default removal, enquiry removal, or correction produces an update typically within 5–15 business days of the bureau processing the change.

Is Equifax the most important credit score in Australia? For home loans and most bank lending, yes — Equifax is the most widely checked bureau. The major banks (CBA, ANZ, Westpac, NAB) primarily use Equifax. For telco and utility applications, Illion is more commonly checked. For non-bank lending, Experian is used more frequently. Ideally, maintain a strong score across all three.

Can I dispute information on my Equifax credit file? Yes. Under the Privacy Act 1988, you have the right to dispute any information you believe is inaccurate, incomplete, or unlawfully listed. You can lodge a dispute directly with Equifax at equifax.com.au, or engage professional credit repair if the grounds are complex or the creditor disputes your challenge.

How long does a default stay on my Equifax file? Exactly 5 years from the date the default was listed with Equifax — not the date of the missed payment, and not the date you paid it. Paying a default updates its status but does not shorten the 5-year listing period. Unlawfully listed defaults can be challenged and removed earlier under the Privacy Act 1988.

What is the difference between my Equifax score and my Equifax report? Your Equifax score is a single number (0–1,200) generated from the data in your file. Your Equifax report is the full detailed record — every credit account, default, enquiry, repayment history entry, and personal detail. The score is a summary; the report is the source data. Both are available free from equifax.com.au.

Not Happy With Your Equifax Score? Find Out What Can Change It.

A free assessment from Australian Credit Solutions reviews your Equifax file in detail, identifies every entry that may be challengeable under the Privacy Act 1988, and gives you a clear picture of what removal could mean for your score and your borrowing options.

Australian Credit Solutions is ASIC-licensed (ACL 532003), lawyer-led by Principal Solicitor Elisa Rothschild, and has helped over 5,000 Australians improve their Equifax scores since 2014. No Win No Fee. 98% success rate on accepted cases.

Get My Free Assessment → 📞 0489 265 737 🛡️ ASIC Licensed ACL 532003 | ⭐ 4.9/5 from 976+ Reviews | 🏆 Award Winner 2022–2024

Australian Credit Solutions Pty Ltd holds Australian Credit Licence ACL 532003. Credit repair services are subject to individual assessment. Results may vary. This article provides general information only and does not constitute legal or financial advice.

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