By Eleanore D. Sanchez

One in four Australians believes their current credit scores would prevent them from getting a loan or a credit card, according to a recently released survey by

The study surveyed around 2,000 respondents. Around 67% expressed confidence that their credit score would not affect their ability to secure a loan. However, 25% said they expect their loan or credit card application will be rejected due to their credit score.

Bessie Hassan, money expert, validated the concerns of the 25% who worried about their credit scores.

“There are still many of us in dark when it comes to credit scores,” Hassan said.

“People often don’t realize the consequences of a poor credit history until they get knocked back applying for credit. A shaky history of paying bills on time and outstanding debt directly impacts your credit score. It can really be a nightmare if you put it all on the line to buy your first home and bad money habits from the past come back to haunt you,” she further noted 

Hassan said that given such circumstances, the only lenders who may take your business are those who deal with high-risk borrowers in return for high interest. has partnered with credit bureau Veda to help users get a free credit score check, along with tips on how they can improve their credit score. 

“Knowing your credit score allows you to apply for credit with confidence. You may be pleasantly surprised with your score. At the very least, it can save you from unexpected rejection and be the catalyst for positive change,” Hassan said.

“The first step Aussies could make is to pay bills on time and lower unused credit card limits. There’s no quick fix. Credit scores take into account years of past behaviour, but there’s no time like the present to change your habits,” she said.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan