Credit Score New Zealand

A Beginner Guide To Credit Score

Natalie @


Credit score is your lifeline when it comes to getting any type of  loan in New Zealand. It is a score between 0 and 1000 and it is an indication to all finance companies of your trustworthiness. Get this right and you will have no problems in getting a loan but if you stuff it up then its whole different ballgame. To understand credit rating we need to know the basics of it. Lets start with what is a credit score  

What is a credit score ?

A credit score is a number between 0 and 1000, the higher your number the better your credit score in the loan market. The credit score represents your credit worthiness in amongst the financial institutions in New Zealand. The higher the score, the better a borrower looks to potential lenders. Lets look at what the different credit scores represent in Ne Zealand market. 

  • Excellent (800 to 1000)

  • Very good (700 to 799)

  • Average (500-699)

  • Fair (300 to 499)

  • Bad (0 to 299)

What determines your credit score ?

There are many factors that determine your credit score in New Zealand. Almost all of this will be from your past dealings with line of credit. A credit score is based on your credit history including but not limited to : 

  • Payment history

  • Total amount owed

  • Length of credit history

  • Types of credit

  • New credit 

Where to check your credit score for free

There are only few companies where you can check your credit ratings in New Zealand. Most of these companies allow you to check your credit score online by simply filling out a credit report request form. Takes only few minutes to fill the form and in most cases the credit reports are free of charge. Lets look at some of the main companies that offer free online credit checks in New Zealand

  • Centrix 
  • Illion 
  • Equifax
  • Creditsimple

Disputing your credit score

If you are not happy with your credit score and think there has been a mistake then you can lodge a dispute. In order to dispute your credit score you will have to have all the evidence and all the documentation to prove that there has been a mistake. You can dispute it directly with the credit agency or lender who reported it.

Causes for bad credit scores

Bad credit scores are not uncommon in New Zealand as we all had difficulties in paying our bills or credit cards on time or another. Its not the end of the world and there is always ways you can fix your bad credit. In order to fix bad credit score we have to understand main causes of it. Lest start by looking at he main causes of bad credit in New Zealand : 

  • Defaulting on Loans 

  • Late or unpaid credit card bills

  • Late or unpaid utility bills

  • Bankruptcy

  • Write offs

How to fix your credit score

Fixing your bad credit score is not going to be easy and there is no quick fix. This will take time and continued effort so be prepared to go the distance. Lets look at some of the things that will help you fix your credit ratings in New Zealand : 

  • Know what your credit score is

  • Dispute the reporting mistakes

  • Make your own corrections

  • Make timely payments

  • Keep your credit active

Natalie @

Credit Score

Your Lifeline For Loans

Not everyone realizes the importance of credit scores until one tries to get a home loan, car loan or any type of personal loan in New Zealand. By then it will be too late and your applications will be declined due to bad credit so in order to be credit prepaid you must keep an eye on your credit score and keep it in excellent state. Don’t let simple mistakes in the past affect your future. 

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