Your credit score is a rating that loan and credit providers request when you apply for a loan or for credit.

This rating or number is based on a range of contributing factors and it represents your credit worthiness. Your credit worthiness is an indicator of your ability to make payments.


The biggest contributors to your credit score are

  • Your payment history – Whether you have made all your payments on time, made late payments or completely defaulted on your payments.
  • Your current debt – The amount of debt you currently owe will affect your credit score since it shows whether you are able to take on additional debt and how serious you are about lending.
  • The length of your credit history – If you have had credit for a long time it will count in your favour, however, if you have never had credit, you will most likely find it difficult to secure a quick loan.
  • The amount you wish to borrow – If you are looking to borrow a small amount of money, your chances of being approved is bigger than if you want to borrow a large amount of money.

Credit score information

New Zealand credit bureaus collect this information in order to be able to provide lenders with an accurate credit score, portraying your creditworthiness when they request it.

It is a fair indicator that provides lenders with the information needed to make informed decisions regarding consumers.

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