MoneyHub is H&R Block's free credit reporting platform and personal financial management toolkit. If you’ve ever used credit or taken out a loan, then you’ll have a credit score. But what exactly is a credit score and how can you change it? Keep reading to discover our answers to the top questions about credit scores and how MoneyHub can help you take control of your finances.
In a nutshell, your credit score is a number that helps banks and lending institutions determine how reliable you’re likely to be at paying off future debts. Your score will fall on a scale of 1-1000 (or sometimes 1-1200, depending on the credit agency you use to measure the score). The higher the score the better as it opens up more possibilities for lenders, banks, insurance companies and service providers to give you a better deal. A low score can lead to companies being reluctant to do business with you or charge you higher rates.
You can check your credit score in less than a minute simply by signing up to MoneyHub. Once you have your score, you can see which category you fit into (see table below) and whether you need to do some work to improve your score.
Here is a summary of the scores provided based on the Illion credit score scale:
0 No score If you are a young Australian who has not yet built up a credit history, don’t be surprised if nothing comes up.
Alternatively, you may have some bad debts associated with your name. Make sure to check everything in your credit report to ensure that it’s correct. If not, you may lodge a dispute in the system to rectify.
1-299 Low Your file may have some negative data due to payment defaults, poor payment history or bankruptcy. A large number of credit enquiries, especially for small amounts could also be a factor.
300-499 Room for improvement  You may be still in the process of building up a credit history and have not yet proven your reliability. Or your history may show a record of credit applications to smaller lenders who provide services to higher-risk customers. 
500-699 Average This is a healthy result, although it may indicate you don’t have an extensive credit history, possibly due to your age or  lack of a property portfolio. 
700-799 Great Most people in Australia fall into this category. Your history shows you have maintained good credit history and have probably been paying your bills on time. There may however be a few credit enquiries or loan applications on your file.
800-1,000 Excellent This is the best level of rating, indicating reliability with credit applications and repayments over a significant period of time. It’s associated with disciplined applications, having a mortgage and/or investment properties. Older age groups often fall into this range.
Essentially anyone who has taken out a loan or line of credit or held a credit card in their name will have a credit history. You must be at least 18 years old to apply for a financial product, though if you are under the age of about 20, you may not have had enough time to build up a credit history.
First of all, don’t panic. A low credit score can happen for a number of reasons.
If you believe the score to be incorrect:
  • First check with the credit agency that created the score to check they have the correct information for you.
  • Next, check with your bank to make sure they are also using the correct data and that you’ve not been the victim of financial fraud
  • If these are all in order and your credit score is still low, then it is likely due to one or more of the following reasons:
    • Not paying bills on time or not paying at all
    • Missing on loan repayments
    • Making too many applications for credit
    • Defaulting a loan
    • Having your home foreclosed
    • Any court judgment on financial payments
The good news is that there are quite a few things you can do to improve your credit score, including:
  • Ensuring your credit file is accurate and up to date
  • Paying all bills and loans on time
  • Showing lenders you’re good with loans and repayments by managing a small loan or credit card
  • Holding on to any unused credit cards
  • Not applying for too many credit cards
Your score comes from our partner illion, an internationally trusted credit agency, that’s been operating in Australia since 1887. illion follows best practice guidelines to gather all of your financial data from banks, credit card companies and auto financers, as well as public records such as property or court documents in order to calculate your score.
If there is anything you believe to be incorrect on your record, simply log a query while you’re logged in to MoneyHub.
To improve your credit score, you need to demonstrate reliability with paying back loans and limit the number of times you apply for credit.
Improving your score takes time and may take more than a couple of years. It’s a good idea to log in and check your credit score from time to time in order to stay up to date with your current score and make sure your efforts are helping to improve the overall score.
You can check your credit score with MoneyHub whenever you like and as many times as you want!
A higher credit score improves your chances of getting approved for a range of financial products, including a home loan, personal loan, line of credit or credit card. But that’s not all. It also makes it more likely you will be offered a more favourable term.
The higher your score, the more desirable you will be to a range of lending institutions, meaning there’s a better chance you will be able to get the best possible deal.
A credit report is a full summary of all your financial history including bill payment history, defaults, bankruptcies and court judgements, plus any loans or credit you currently have in your name.
Your credit score is a number on the scale of 1-1000 (or sometimes 1200, depending on the agency) that indicates how reliable you are at repaying loans and managing debt. The higher the number the better, and this number changes whenever you perform any financial activities, such as paying a bill on time or defaulting on a loan.
With MoneyHub, your credit score and report are both available to you at no cost and can be accessed whenever you want. Simply log back in anytime to view. Plus. we’ll even send you alerts whenever something changes on your credit report including but not limited to, addition of any new accounts, defaults, increase in credit limits on any of your accounts, so that you can stay on track and improve your score over time.
Companies that give credit want to know if a customer is reliable and if they will repay their bills and debt on time. Credit score providers gather all of this information from banks, credit card companies and auto financers, as well as public records such as property or court documents in order to help these companies make these assessments. You can read more about credit reporting agencies and your rights and privacy here.
There are a number of reasons why your score might have changed. Some of these include:
  • The age of your credit information may affect your credit score in that newer data is often weighted more than older information.
  • Information held on your credit file may drop off over time as it gets older.
  • The length of time between when a credit provider sends your information through to a credit bureau such as illion may also affect your score.
If you have any questions about your credit file, feel free to email for more info.
Absolutely not! Using MoneyHub will in no way affect your credit score. It will just make your life easier by giving you an easy way to track your finances and make good decisions for your future.
Spend Tracker is a user-friendly platform designed to help you get a quick and easy snapshot of all your financial transactions so you can make better decisions about your money.

Spend Tracker lets you see where your money goes, tag taxable transactions throughout the year to make tax time easier and identify strategies that can help you make your money work harder for you.
You can view the full list of available institutions via the institution drop down on the Spend Tracker page. Please note, this list may change. So if you work with a bank that is not currently on this list, please check back later to see if it has been added.
MoneyHub is a financial wellness product created and owned by H&R Block Australia in partnership with Credit Simple. H&R Block is Australia's leading tax preparation company, with over 50 years of Australian tax expertise. We created this product to help our clients take control of their finances and managing their taxable transactions easily throughout the year.
MoneyHub may receive a commission for referrals from a range of providers including financial services and telcos, when you visit and click on offers displayed on the MoneyHub website and in MoneyHub’s communication to you.
Absolutely! H&R Block is trusted and chosen by over 1 million customers at tax time each year thanks to our strong record for efficiency and reliability. We have over 50 years of Australian tax experience and we are passionate about helping Australians make the most of their money each and every day.
What sets our platform apart from other credit score sites is our ability to organise and manage your tax deductions through our Spend Tracker.
We want to make sure you don't miss out on any deductions that you are eligible for, which is why Spend Tracker helps you consolidate your cash flow from all your bank accounts and cards in the one platform.
Once you have linked your accounts, you can tag taxable transactions throughout the year. At the end of the financial year, simply export the list of potential tax deductions and take it with you to your tax appointment.
It lets you see where your money goes so you can  identify strategies that can help you make your money work harder for you. Best of all, all these tools are free.
To find out more about how to use the Spend Tracker to your advantage, visit our Maximise your Tax Deductions page.
Yes, Moneyhub has negotiated a wide range of special offers for our members so that you can save even more.
These can range from credit cards, personal loans, home loans, energy plans, insurance, mobile phone plans, and broadband plans.
We’re always on the lookout for better deals for our members so you can be sure there’s more to come.

Your privacy is a top priority and your credit history will only ever be accessed when you give permission. Click through to find out more about MoneyHub’s Terms of Use and Privacy .

All of your information is stored in a secured environment and Moneyhub adheres to all Australian privacy laws, which have strict rules about how credit providers and credit reporting bodies can handle your personal information. Find out more about MoneyHub’s Privacy here.
This is identity theft (or identity fraud), which involves someone using another individual’s personal information without his or her consent, usually to open a bank account, acquire a credit card or commit a financial crime.
This can happen when a thief accesses your personal details from a document containing your personal information, or from public sources, such as social media. So it is very important that you keep all of your records and financial documents, as well as your ID, safe and secure at all times.
It is also important that you regularly monitor your accounts and credit report and stay alert to any unexpected changes or irregularities. If you believe you have been a victim of identity theft, you should act immediately and report this to your financial institution so that action can be taken.

The law regulates credit reporting and ensures that only business entities with a specific, legitimate purpose, and not members of the general public, can check your credit without written permission.
No. MoneyHub protects privacy of each customer and does not allow unauthorised use of your email address by other parties or for making good and services without your permission.
The security of your information and your privacy is a top priority for us, so we have worked closely with Australian government agencies to find a best practice way for you to authenticate your identity.
An Australian passport or driver’s licence is the most common way to authenticate your identity, so this is the primary way for you to register and access your information. However, if you don’t have these documents you can also use a Medicare card or an international passport to gain access.
It is also possible for you to register manually, without using any of the documents listed above, by selecting the option “None of the above” as the Proof of ID type when you are registering. You will then have the option to supply accompanying documents online.
We do everything we can to ensure that all of the information we hold is accurate and correct. But if you believe there to be an error, please contact us at and a member of our team will assist you.
The credit report section of our website also has a ‘Dispute this’ tool in each section of the credit report. This allows you to query and have any incorrect data corrected.
MoneyHub supports all mainstream browser types (Chrome, Firefox, Safari, Edge). However, please note that we’re currently only supporting the more current versions. So if you are experiencing issues, the first step is to make sure your browser is up to date. If you continue to have issues, please contact us on