How to Build Credit from Scratch in Australia
How to Build Credit from Scratch in Australia If you're new to Australia, recently started working, or simply haven’t had a credit card before — you might not have a credit history. But don't worry. Here’s a step-by-step guide to building your credit score from scratch. 1. Open a Basic Bank Account Start with an everyday account and savings account with a reputable bank. Choose banks that report your behaviour (like overdraft management) to credit agencies. 2. Get a Low-Limit Credit Card Start with a secured card or student card Keep your credit usage below 30% Always pay the full balance by the due date 3. Become an Authorised User If a family member or partner has a solid credit card, they can add you as an authorised user. Their good habits help build your history too. 4. Use Buy Now Pay Later Services Wisely BNPL platforms like Zip and Afterpay now share some repayment behaviour with credit bureaus. Use these only if you can repay in full on time. ...