Why you should check both Illion and Experian credit reports on ClearScore

We're excited to announce that you can now see your Illion credit score and report in your ClearScore account. This is in addition to your Experian credit score and report we’ve always shown you.

In Australia, there are three major credit bureaus that generate credit reports - Illion, Experian and Equifax. The different credit bureaus will use their own scoring methods to decide your credit score. That’s why you might see one score from Illion and a different one from Experian.

Checking multiple credit reports is a great habit to get into for lots of reasons. Let’s explore some of the main ones.

Different lenders will look at different credit reports

When you apply for credit – like a loan or credit card – the lender could look at any of your credit reports to help them make a lending decision. That means you should apply for credit when all of your reports are in the best possible position, because a better score could mean better offers.

So checking both your Illion and Experian credit reports on ClearScore can help you avoid surprises or disappointments when applying for credit.

You get a more complete picture of how you're doing

By checking both your Illion and Experian credit reports, you can get a more well-rounded understanding of your current position. You’ll have more information to help you see where you’re doing well and where you can improve because they use different parts of your credit history to make their reports.

You can easily identify errors in your credit report

Your credit report is the basis for your credit score, so it's important to ensure that it is accurate and up-to-date. By checking both your Illion and Experian credit reports, it’s easier to cross reference them and identify any inconsistencies or errors they may contain. If you notice any mistakes, find out how to correct them here.

What’s the difference between Illion and Experian?

Both Illion and Experian are credit bureaus that generate credit scores and reports. However, they gather their credit data from different sources, meaning there could be differences in your credit reports.

Both provide valuable information, and having access to multiple scores and reports gives you a more comprehensive view of how you’re doing.

How to check your reports

If you haven’t already, head to your ClearScore account and look at both your Illion and Experian credit reports. Simply head to your homepage and use the ‘Illion’ and ‘Experian’ tabs towards the top of the page to choose which score to look at. You can then use the ‘Reports’ section to take a deeper look at both your Illion and Experian credit reports.

What to look for in your reports

Once you’ve checked both your Illion and Experian credit scores, you can compare the reports. You should:

• Look for differences in the reports to identify any reporting errors

• Look for similarities in the reports, to identify areas you’re doing well and where you could improve

• Keep monitoring both scores and reports over time to stay on top of your creditworthiness

Summary

• ClearScore now shows you two credit scores and reports - from Illion and Experian

• Checking multiple credit reports is a great habit to get into, it can help you improve your finances and safeguard your credit score

• You should compare your credit reports and look for similarities and differences

Not got ClearScore yet?

Check your Illion and Experian credit scores in one easy-to-understand place, for free, forever. Sign up for ClearScore now.