How do I understand my VedaScore?

How do I understand my VedaScore?

Your VedaScore is an important number that summarises the information in your Credit File and is expressed as a number between 0 and 1200. In simple terms, the higher your VedaScore, the better your credit profile and the more likely you are to be accepted for credit.

If you’ve got a low VedaScore, your credit applications may only be approved by lenders that charge a much higher interest rate or you may have difficulty gaining access to credit at all.

When you receive your VedaScore as part of a Veda Credit & Identity package, you’ll also receive a list of score factors – things that have influenced your score. This can give some insight into what you’re doing well and what areas might need some work, so you can improve your score over time.

Does ordering a copy of my credit impact my Veda Score?

Ordering a copy of your credit file, or signing up to Veda Alerts, will not negatively impact your VedaScore. In fact, it may help you improve your score by showing you if your identity has been compromised. If it has, you can contact the credit provider for more information and, if necessary, seek an investigation.

To find out what your VedaScore is, as well as track it over time sign up to our Veda Access or Veda Plan package.

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