credit-cardWith the launch of GetCreditScore.com.au, Australians are able to get a snapshot of their credit score, empowering them with information to help negotiate better credit terms. Credit providers such as banks and credit card companies, use credit scores to assess an individual’s credit risk and to mitigate potential losses due to defaults. Increasingly, credit scores are used to determine who qualifies for a loan, at what interest rate, and what credit limits. Financial campaigner and GetCreditScore spokesperson Christopher Zinn welcomed the launch – which helps empower consumers. “Credit scores are becoming increasingly important for Australians, yet most people would not know their score. It is time now for consumers to get informed, find out their score and start pushing for a better deal,” Mr Zinn explained. “GetCreditScore.com.au puts the power back in your hands.” For decades, credit scores have been widely used in most developed economies like England and the United States where people have relied on them as a tool to access credit and even negotiate better terms from banks and other lenders. Australians can now benefit the same way. GetCreditScore features the VedaScore provided by data intelligence and insights company Veda. To get a snapshot of their VedaScore, people can simply visit www.getcreditscore.com.au and fill in some basic information – name, address, date of birth, email and driver licence number or passport number. GetCreditScore.com.au is being launched during MoneySmart Week, Australia’s biggest initiative promoting the importance of financial literacy. GetCreditScore is an initiative of SocietyOne, in conjunction with Veda.