Maintaining an excellent credit score is the first step toward snagging a great deal if and when you borrow money to buy a home, a car or any other big ticket purchase.That’s why it pays to check in on your credit history regularly and keep up with good financial habits to help keep your credit track record running smoothly.

With Australia making the move to comprehensive credit reporting from 1 July 2018, there’s no better time to check on your credit score and make sure you’re doing all you can to keep it healthy.

The shift to comprehensive credit reporting means that when you go to apply for a home loan, personal loan or credit card, lenders will have a more complete picture of your credit history, so they can get a clearer picture of what you’d be like as a borrower. The good news is this has the potential to be a great thing for many freelancers’ credit scores, because a positive financial history will have more of an impact.

But to take advantage of the benefits of comprehensive credit reporting, it’s important to maintain your good financial behaviour so that when lenders look at your full credit history, they see a reliable, responsible borrower.

Here are some simple ways that you can keep your credit report in top shape so that when you do need to approach a bank in the future for a loan, you’ll be in the best possible position.

Follow these tips and manage your finances responsibly to keep your credit score in tip top shape, setting you up for success down the line when you want to apply for credit like a home loan, credit card or a business loan to help you manage your freelance work costs.

 After starting his career working for the banks, Peter Marshall has spent the last 15 years helping Australians compare financial products. At mozo.com.au he is the Data and Compliance Manager, keeping track of banking legislation changes as well as the 2,500 banking, insurance and energy products in the mozo comparison database.