Frequently Asked Questions

1. What is Credit 101?

Credit 101 is an educational and credit-guidance app designed to help you understand, monitor, and improve your credit profile.

We simplify complex credit information so you can:

• Understand your credit score
• Identify risk factors
• Learn how lenders assess applications
• Improve your financial positioning before applying for finance

Credit 101 focuses on education and structured credit improvement, not selling loans.

2. Does Credit 101 provide loans?

No.

Credit 101 does not provide loans or direct lending services.

We provide:

• Credit profile education
• Personalised credit insights
• Financial positioning guidance
• Referrals to licensed credit professionals (if required)

Any lending decisions are made independently by licensed lenders.

3. Is Credit 101 a licensed credit provider?

Credit 101 is not a lender.

Where credit assistance is provided, it is delivered either:

• Under an authorised credit representative arrangement, or
• Through referral to an appropriately licensed Australian Credit Licence (ACL) holder.

All lending and credit activities comply with Australian regulatory requirements.

4. Will using Credit 101 affect my credit score?

No.

Using the app does not negatively impact your credit score.

We do not submit loan applications on your behalf without your consent.
Any credit checks performed require your clear authorisation.

5. How does Credit 101 help improve my credit score?

We focus on the core drivers lenders assess:

• Repayment history
• Credit utilisation
• Number of enquiries
• Account conduct
• Defaults and adverse listings
• Stability factors (employment, address, income consistency)

The app provides structured action steps such as:

• Reducing utilisation ratios
• Cleaning up small defaults
• Avoiding unnecessary enquiries
• Improving banking conduct

6. How long does it take to improve a credit score?

This depends on your starting position.

General timeframes:

• Minor improvements (utilisation adjustments): 30–60 days
• Cleaning paid defaults: 30–90 days
• Strong behavioural rebuilding: 3–6 months
• Major credit rehabilitation: 6–24 months

Credit rebuilding is behavioural — not instant.

7. What credit bureaus operate in Australia?

Australia has three primary credit reporting bodies:

• Equifax
• Illion
• Experian

Each bureau may hold slightly different data.

8. What is a good credit score in Australia?

Credit score ranges differ by bureau, but broadly:

• Excellent: 800+ (Equifax scale)
• Very Good: 700–799
• Good: 600–699
• Fair: 500–599
• Below 500: High risk category

Lenders assess more than just the number — conduct and structure matter significantly.

9. What is Comprehensive Credit Reporting (CCR)?

CCR means lenders can see both:

• Negative data (missed payments, defaults)
• Positive data (on-time repayments, account limits)

This provides a fuller picture of your repayment behaviour.

10. Why was my finance declined?

Common reasons include:

• Poor banking conduct
• High credit utilisation
• Too many recent enquiries
• Unpaid defaults
• Inconsistent income
• Living expense misalignment
• High debt-to-income ratio

Credit 101 helps you identify and correct these issues before reapplying.

11. Does checking my own credit score hurt it?

No.

Checking your own report is considered a soft enquiry and does not lower your score.

Only formal credit applications (hard enquiries) impact your file.

12. What is credit utilisation?

Credit utilisation is how much of your credit limit you are using.

Example:

• Credit card limit: $10,000
• Balance: $8,000
• Utilisation: 80%

Most lenders prefer utilisation under 30–50%.

13. Can Credit 101 remove defaults?

We do not “delete” legitimate defaults.

However, we can guide you through:

• Dispute processes (if listings are incorrect)
• Paying and updating defaults
• Hardship arrangements
• Structuring repayment plans

Credit file corrections must follow formal bureau processes.

14. Is my data secure?

Yes.

We use industry-standard data security practices and encryption protocols to protect your information.

We do not sell your personal data to third parties.

15. Who is Credit 101 for?

Credit 101 is ideal for:

• First-time borrowers
• Business owners preparing for finance
• Clients previously declined
• Individuals rebuilding credit
• Anyone wanting stronger approval positioning

16. How is Credit 101 different from a broker?

A broker helps secure finance.

Credit 101 helps you become finance-ready before applying.

We focus on positioning, structure, and long-term credit strength.

17. Is there a cost?

Pricing varies depending on the level of service selected.

We offer:

• Basic educational access
• Structured credit improvement guidance
• Premium one-on-one credit strategy sessions

Full pricing is transparently displayed inside the app.

18. What if I need finance now?

If you need immediate finance:

• We can assess whether your profile is application-ready
• We may refer you to a licensed broker
• We may recommend waiting and strengthening your position first

Applying prematurely can reduce approval odds.

19. Does Credit 101 guarantee approval?

No.

No ethical credit service can guarantee approval.

We improve your probability of approval through better structure and preparation.

20. How do I get started?

• Download the app
• Complete your credit profile assessment
• Receive your personalised action plan
• Begin strengthening your approval position