illion Credit Score and Report: Everything You Need to Know

~Important update on illion: illion was one of Australia's three major credit reporting bureaus, alongside Experian and Equifax. In 2024, Experian acquired illion, and illion's consumer credit data has now been consolidated into the Experian bureau. If you previously had an illion credit score on ClearScore, this is now provided by Experian - and your ClearScore Australia account shows a single Experian credit score and report. The information below explains what illion was and how it worked, and points you to where to find the equivalent information for your Experian credit score today.~

Before credit providers or financial institutions approve a new line of credit, they conduct credit checks to understand the risk profile of the borrower. Running a credit check involves reviewing credit reports of borrowers prepared by credit bureaus and credit scores.

Until recently, a large number of lenders in Australia relied on illion credit scores and reports to assess eligibility, alongside Experian and Equifax. Following Experian's acquisition of illion, illion's consumer credit data has been consolidated into the Experian bureau, so lenders that previously checked illion data now access this information through Experian.

Let's take a look at what illion was, how illion credit checks worked, and where this information lives now under Experian.

illion was a credit reporting agency in Australia, and was one of the country's three major credit reporting agencies - alongside Experian and Equifax - until it was acquired by Experian. illion's consumer credit data has now been consolidated into the Experian bureau. In 2014, it became the first credit rating agency in Australia to implement comprehensive credit reporting. illion collected the credit history of businesses and individuals from various credit providers and used its proprietary algorithm to prepare credit reports and calculate credit scores. This data and methodology are now part of the Experian bureau, which uses its own scoring model to calculate your credit score.

An illion credit report included personal details and information about your personal credit history, such as:

• Name, residential address, date of birth, employer and driver's licence number
• Credit history (including credit accounts and hard credit checks), credit limit, and repayment history
• Details of court judgments, bankruptcy proceedings, and any creditor who believed you obtained credit fraudulently or evaded payment obligations

Your Experian credit report - which now includes the consumer credit data previously held by illion - covers the same categories.

Under comprehensive credit reporting (which illion helped pioneer in Australia in 2014, and which Experian continues to use), positive and negative information stays on your report for different lengths of time. Monthly repayment history stays for two years, and bankruptcy filings stay for five years. Hard credit checks remain on your report for over five years, regardless of approval status.

Credit scores have historically differed between illion, Experian, and Equifax because each used its own proprietary scoring model. Now that illion's consumer credit data has been consolidated into Experian, your scores may still differ between Experian and Equifax for the same reason - each uses its own model.

It was common for an Equifax score and an illion score to be different - and the same is true today between your Experian score and your Equifax score, since each bureau uses its own scoring model. illion's credit score ranged from 0 to 1,000, with a score of 500 to 699 considered good. On ClearScore Australia today, your Experian credit score now ranges from 0 to 1,200, with 500 to 699 falling in the 'Good' band. A high score indicates lower credit risk. A 'Good' score on your Experian credit file (the data previously held by illion has been consolidated here) shows there is no significant negative information on your file, or that there isn't yet enough information to calculate a higher score.

Here's how illion's score bands compared to Experian and Equifax historically, alongside the credit score bands now used on ClearScore Australia (Experian, scale 0–1,200):

| Band | ClearScore today (Experian, 0–1,200) | Equifax (0–1,200) | illion (historical, 0–1,000) | What it means | | --- | --- | --- | --- | --- | | Excellent | 800 - 1,200 | 833 - 1,200 | 800 - 1,000 | Borrowers with a long credit history of consistent bill and loan repayments, plus responsible credit management, often score in this range. | | Great | 700 – 799 | 726 - 832 | 700 - 799 | This range shows that even though you may have a few credit enquiries on your file, you have maintained an overall good repayment record. | | Good | 500 - 699 | 622 - 725 | 500 - 699 | This shows you have a Good credit score and are likely to be approved for most new credit applications. | | Fair – Room for Improvement | 300 - 499 | 510 - 621 | 300 - 499 | A score in this range doesn't always indicate a negative credit history. It may also be due to a shorter credit history or borrowing from high-risk lenders. | | Low | 0 - 549 | 0 - 509 | 1 - 299 | You may have defaulted on repayments and/or made several loan/credit card applications resulting in numerous hard credit enquiries. | | Zero | | | 0 | It indicates that you have no credit history. |

Today, you can access your Experian credit score and report - which now includes the consumer credit data previously held by illion - for free, forever, using ClearScore. Sign up to ClearScore by following the steps below:

1. Visit the ClearScore Australia website to start your sign up for free.
2. Create a ClearScore account by entering your personal information, such as your name, date of birth, and email address.
3. Verify your identity by providing additional information, such as your address and ID.
4. Once you have verified your identity, you will be able to see your credit score and report on the ClearScore dashboard.
5. Then, simply head to your ClearScore report page to view your Experian credit score and report. (illion is no longer shown as a separate tab - its data is now consolidated into your Experian credit score.)

In Australia, credit scores are calculated by credit reporting agencies based on information gathered from credit providers such as banks, credit card companies, and other lenders. Australia's three major credit reporting agencies were Equifax, Experian, and illion. illion has now been acquired by Experian, so the two main credit bureaus today are Experian and Equifax.

illion credit scores were calculated based on information provided by credit providers and financial institutions. That data now feeds into the Experian credit score shown on ClearScore Australia. Factors such as defaulting on loan, late payments, joint debts, and applying for too many credit products can lower your score.

To improve your credit score, you can follow ClearScore's recommendations by visiting ‘Reports’ and see your ‘Insights’ showing you the tips of how to improve your credit score, which may include paying bills on time, reducing credit card balances, and checking your credit report regularly for errors or fraudulent activity. Remember to check your credit score and report regularly to ensure that your credit history is accurate and up-to-date.

In addition, here are some more helpful tips to keep in mind:

• Regularly review your credit report for errors
• Pay bills on time (credit card dues, loan instalments etc). Set up payment reminders or auto-debit instructions
• Set a spending limit on your credit card (You should keep your credit utilisation below 30% of the total credit limit at all times)
• Apply for credit only when necessary (multiple queries in a short time can reduce your score)

• illion was one of Australia's three major credit reporting agencies, using its own proprietary scoring model to prepare credit reports and calculate credit scores. Following Experian's acquisition of illion, illion's consumer credit data has now been consolidated into the Experian bureau - and ClearScore Australia provides a single Experian credit score and report. If you previously checked your illion score, you'll now find the equivalent information under your Experian credit score in your ClearScore account. For the most up-to-date information on how Experian credit scores work, see our guide to Experian credit scores in Australia.

• illion credit score is calculated based on information provided by credit providers and financial institutions. Factors such as defaulting on loan, late payments, joint debts, and applying for too many credit products can lower your score.

• Credit scores may differ between credit reporting agencies like illion, Equifax, and Experian since they all use their own proprietary algorithms to calculate scores. This can result in variations depending on the information each agency has received from lenders.

You can now access your illion credit score and report for free, forever, using ClearScore. Sign up to ClearScore today and check your credit score.