There are several steps you can take to improve your credit score in Australia:
Check your credit report: Make sure that all the information on your credit report is accurate. Dispute any errors with the credit reporting agency.
Pay bills on time: Late payments can have a significant negative impact on your credit score. Be sure to pay all bills on time.
Limit new credit applications: Each time you apply for credit, it creates a hard inquiry on your credit report. Limit the number of new credit applications you make, as too many hard inquiries can have a negative impact on your credit score.
Have a credit card: Having no debt at all doesn’t mean you are more creditworthy. Have a small credit card and pay it regularly. Your credit card payment history is recorded for 2 years in the new comprehensive reporting that the banks use.
Be mindful of your debt: Reduce or pay off your outstanding debts and keep your credit card balances low.
It’s important to keep in mind that improving your credit score takes time and effort. You need to be consistent with your efforts and stay patient. It’s also important to monitor your credit score regularly to ensure that you’re on track to reach your goals and to make sure there are no errors on your credit report.