What Is a Good Credit Score in Australia? (2026 Guide)

Quick Answer: In Australia, a "Good" credit score is 661–734 on Equifax (0–1,200 scale), 625–699 on Experian (0–1,000 scale), and 500–699 on Illion (0–1,000 scale). "Good" means you're eligible for most standard loan products at mainstream rates. "Very Good" (Equifax 735–852) or "Excellent" (853+) unlocks the best rates and fastest approvals. If defaults or unlawfully listed entries are holding your score in the Average or Below Average band, professional removal under the Privacy Act 1988 can move you into the Good range in 30–90 days.

"Is my credit score good enough?" It's one of the most common questions we hear — and the answer depends on which bureau you're checking, which lender you're approaching, and what you're trying to achieve. This guide gives you the exact numbers, side by side, with no ambiguity.

Good Credit Score Ranges by Bureau

Equifax (0–1,200) — Most Widely Used

Experian (0–1,000)

Illion (0–1,000)

What "Good" Actually Gets You

Being in the Good band doesn't just mean loan approval — it's also about the rate attached to that approval. The difference between Average and Very Good on Equifax can translate to 1.5–3% on a home loan rate. Over 30 years on a $450,000 loan, that's $150,000–$250,000 in additional interest.

Even moving from the bottom of Good (661) to the middle of Very Good (780) can produce meaningful rate improvements with competitive lenders.

Real Case Study: Denise, Hobart — Average to Very Good in 47 Days

Denise, 44, a bookkeeper from Hobart, had an Equifax score of 598 — firmly in the Average band. She wanted to refinance her home loan of $390,000 to access a lower rate and reduce her monthly repayments. Her current lender had increased her rate after a period of financial hardship three years earlier, and she'd been unable to refinance since.

Her file showed one default — a $690 listing from a credit card provider — and five hard enquiries from previous refinance applications that had all been rejected.

During her ACS assessment, we found the credit card default had been listed using an incorrect amount. The actual balance at the time of listing, per the creditor's own records, was $690 — but the provider had initially listed $1,240 before later amending it. The original listing had never been formally corrected; the amendment existed internally but hadn't flowed through to the bureau.

Under the Privacy Act 1988, accuracy is a legal obligation. We challenged the listing on accuracy grounds and sought full removal given the procedural failures.

The default was removed in 47 days. The erroneous enquiry from a broker who had run two searches without individual consent was also challenged and removed in 23 days.

Result: Denise's Equifax score moved from 598 to 763 — from Average to Very Good — in 47 days. She refinanced her $390,000 home loan at 6.41% p.a. compared to the 8.8% she was paying. Her monthly repayment dropped by $742. Over the remaining 22 years of her loan, the total interest saving is approximately $196,000. She only paid when we succeeded. Subject to individual assessment; results may vary.

How to Move Your Score Into the Good Band

The fastest path depends on what's holding your score down.

1. Remove unlawfully listed entries first — defaults and enquiries listed in breach of the Privacy Act 1988 or Credit Reporting Code produce the largest, fastest score improvements. A free credit assessment identifies these within 24 hours.

2. Consistent on-time repayments — under CCR, every on-time payment builds your score. 12 months of clean history produces 60–100 points of gradual improvement.

3. Stop new credit applications — each hard enquiry costs 5–20 points. Stopping applications immediately halts the damage.

4. Reduce card utilisation — below 30% across all cards. Reducing from 80% to 25% can move your score 20–60 points within a billing cycle.

5. Don't close old accounts — account age contributes positively. Only close accounts you're paying fees on, and do it gradually.

See the full strategy in how to improve your credit score.

Frequently Asked Questions

What is a good credit score for a home loan in Australia? Most mainstream lenders want to see at least 660–680 on Equifax for a standard home loan approval. For the best available rates, 735+ (Very Good) is the target. Non-conforming lenders consider lower scores, but at rates that significantly increase the total cost of the loan. See our full guide on credit score requirements for home loans.

How do I know if my credit score is good? Get your free credit reports from all three bureaus — Equifax, Experian, Illion — and compare your scores against the band tables above. Each bureau displays your band label alongside the score. A score in the Good band or above means you're eligible for most standard lending products.

Is 700 a good credit score in Australia? On Equifax (0–1,200), a score of 700 sits in the Good band — eligible for most standard products, though not quite at the Very Good threshold of 735. On Experian (0–1,000), 700 falls at the top of the Good band. On Illion (0–1,000), 700 is in the Good band. Overall, 700 is a solid score that most mainstream lenders will work with.

What happens if my credit score goes below 500? On Equifax, below 460 is Below Average — mainstream lenders typically decline automatically. Non-conforming and specialist lenders will consider applications but at significantly higher rates. The focus at this level should be on identifying and removing unlawfully listed defaults, as these are most commonly responsible for Below Average scores.

Can I improve my credit score quickly in Australia? The fastest improvements come from removing negative entries that were listed unlawfully under the Privacy Act 1988. Professional removal takes 30–90 days and can produce 100–300 point improvements. Without removal, rebuilding through on-time payments takes 6–24 months to produce meaningful change.

Not in the Good Band Yet? Let's Change That.

If your score is sitting in Average or Below Average, the first step is understanding exactly what's causing it — and whether any of those entries can be challenged. A free assessment takes minutes.

Australian Credit Solutions is ASIC-licensed (ACL 532003), lawyer-led by Principal Solicitor Elisa Rothschild, and has helped over 5,000 Australians reach and exceed the Good credit band 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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