Credit score: Why is it important?

4 minutes

Your credit score is very important when you apply to borrow money – whether that’s from a bank, for a credit card, or even a phone payment plan. The lender will look at your credit score to help them decide whether you are likely to repay the money you have applied to borrow. Watch this jargon buster video to learn more about how your credit score is calculated and the actions you can take to ensure you maintain a healthy credit score for the next time you want to borrow.

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Davidson Institute

Whether you’re a budding business, dedicated community group or curious individual, our financial education resources are designed to help you feel more money confident. Powered by Westpac, the Davidson Institute is here to help you work towards the financial future you want.

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