“The new Credit Score Hub makes it easy for customers to monitor their credit file and understand the drivers affecting their score, quickly and easily from the palm of their hand. It’s another tool we’re adding to the CommBank app and NetBank that will help customers improve their financial well-being and make smarter financial decisions,” he said.
CBA’s new Credit Score Hub provides customers with information on:
- their individual creditworthiness and rating level
- Credit accounts and repayments for the last 24 months
- credit applications
- reported negative credit events
CommBank has seen record levels of digital engagement1 – with customers logging on to its digital platforms more than ever before – and partnered with Credit Savvy, backed by CBA’s x15ventures, and Experian, one of Australia’s official credit reporting agencies, to offer eligible customers access to the Credit Score Hub.
“The new hub enables CommBank customers to learn about their credit score, what it is and how it is composed. For those customers who wish to block future loan applications and prevent potential fraud or fraud, Credit Savvy offers its SavvyShield feature,” said Mr. Meneguzzo.
Today’s announcement coincides with new research from CommBank2 This shows that while 8 in 10 Australians say taking care of their financial well-being is important, only one in five have checked their personal credit history in the last six months.
According to CBA research, around a third of Australians (34 percent) are either unsure of what a credit score is or have never heard of the term.
“Contrary to popular belief, checking your credit score does not negatively affect it. In fact, knowing your credit score can better enable customers to understand their overall credit score and take steps to improve it. In addition, they can monitor their points and credit applications to protect themselves against fraud and scams,” added Mr. Meneguzzo.
Via the Credit Score Hub
- The Credit Score Hub allows eligible customers to easily consent and access their credit score and understand information about their creditworthiness.
- The Hub can be accessed through the CommBank App and NetBank and is available immediately to eligible, digitally active CommBank customers.
- CommBank has partnered with Credit Savvy, powered by CBA’s x15ventures, and Experian, one of Australia’s official credit reference agencies, to offer eligible customers access to the credit scoring hub.
About Credit Savvy
Credit Savvy is a trademark of CBA New Digital Businesses Pty Ltd, ABN 38 633 072 830 and Australian Credit License 516487. CBA New Digital Businesses Pty Ltd is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124.0
Notes for editors
1 In June of this year, digitally active customers logged in an average of 36 times, up from an average of 31 times in the same month two years ago. This represents the total number of logins to digital assets (NetBank, CommBank Mobile App or CommBank Tablet App – including Face ID logins, excluding CommBiz) divided by the number of customers logged in to a core digital asset (NetBank, CommBank Mobile App or CommBank) Tablet App) in the month of June for the years 2020-2022
2 Fieldwork was conducted by the House of Brand Group between 08/29/2002 and 09/02/2022 among a sample of n=1,012 nationally representative respondents with quotas by age, sex and location.