How is your credit score affected by COVID-19?
If you’re one of the many Australians financially impacted by COVID-19, who have deferred $218 billion worth of payments this year – fear not. Your credit score is unlikely to be affected by payment deferrals or mortgage holidays due to the current state of the world.
However a strong credit score is still important when it comes to future loans. Here we look at how it’s calculated and what you can do to maintain a good score.