Your credit rating is an important figure that can help you (or sometimes hinder you) throughout your adult life. You can—and should—actively avoid the things that commonly impact negatively on Australian credit scores. Wondering what some of those things are? Read on to find out.

Don’t Be Late on Your Payments

Repeatedly late on your payments? Your credit score will likely start to see an impact. Your creditors will begin to report your late payments, and this has a significant effect on your rating. Stay timely, stick to your budget, and always pay at least the minimum payment. Some people like to set up another bank account specifically for their loan repayments and bills to come from.

Avoid Excessive Credit Applications

As much as consumers have ‘Shopping around’ programmed into them by the media, it’s not a good idea to apply for several finance products all at once. Numerous enquires, especially in a short period, raises a red flag for potential lenders, and hurts your credit rating. Instead, apply sparingly and research your options so that you can narrow down your credit applications.

Close Utility Accounts When Moving House

Moving house can be stressful and it can be easy for some loose ends to go unnoticed. However, don’t let any household accounts in your name be the thing you leave behind. If the gas, electricity or phone bills continue to arrive in your name, and they are not paid, it will be your credit rating that suffers. Requesting that your accounts be closed ahead of time (in writing) will ensure that if the account is not closed, you have proof of when and how your request was made and the utility provider will be liable and not you.