Every hour in Australia, 43 women and 27 men become victims of financial abuse.

For credit repair specialist Ellie Dunne, this isn't just a statistic; it's daily reality. She receives up to 15 calls a day from people blindsided by debts and defaults they didn't create.

"A lot of exes use their former partner's details to take out loans, sign up for phone plans or open utility accounts... and the victims are none the wiser," says Dunne, of Credit Wipe Australia.

"These things can sit hidden for months or even years before someone realises the damage."

Often, people only discover the problem when applying for a car loan or mortgage. By then, their credit report is full of red flags and the damage has been done.

Some companies respond with compassion. Others don't.

"Even with evidence of domestic violence or coercion, some lenders just want their money," says Dunne.

Many victims are told to pay the debt to move forward. But paying it doesn't wipe the slate clean.

"That default will stay on your report for five years," she says. "You've spent your own money on something you never agreed to, and you're still no closer to getting finance."

What Aussies understand about credit scores

According to Equifax's 2024 Australian Credit Scorecard, 93% of Australians are aware that their credit history is being tracked.

The national average credit score is now 861 (in the top band and considered excellent). Nearly one in 10 Australians moved up a score band last year.

But public understanding is still limited.

Only 58% of Australians know how to access their credit report, despite being legally entitled to a free copy every three months from each of the three major credit reporting bureaus.

About a quarter don't realise that shopping around for loans can lower their score and 87% believe unpaid fines, such as speeding or parking tickets, show up on credit reports. They don't.

A credit score is a number that reflects how well you manage credit. It's calculated based on your repayment history, current debts, defaults and recent credit inquiries.

Australia doesn't have a centralised system. Instead, three major credit reporting bodies - Equifax, Illion, and Experian - generate their own scores using slightly different data.

"Equifax is the one most banks check," says Dunne. "Illion is often used as a secondary source. Experian shows up more in apps like Credit Savvy, but it's not relied on by lenders as much."

Because lenders don't all report to the same bureaus, your score can vary depending on where you check.

In October 2024, Experian completed an $820 million acquisition of Illion in Australia and New Zealand. Analysts say the deal will help it compete more directly with Equifax.

Common credit score myths busted

• Your age doesn't affect your credit score. False. While age isn't factored in directly, older people tend to have higher scores because they've had more time to build their credit history. "Younger people just haven't had the same window," says Dunne.

• Changing jobs or moving house won't impact your score. False. "Employment and residence stability matter," she says. "If you move around a lot or change jobs frequently, it can work against you."

• Where you live doesn't matter. False. "If your postcode has a lower average credit score, it can actually drag yours down too," says Dunne.

• A high score guarantees loan approval. False. Lenders don't just look at your score, they assess your full credit report. Dunne says that even with a great score, one small default can stop an application.

What to do if your identity is stolen

If you believe your identity has been misused, you can request a credit ban, also known as a credit report freeze. This prevents anyone, including you, from applying for new credit in your name.

"It stops anyone who might have access to your sensitive details, like a licence or Medicare, from applying for finance," explains Dunne.

"Some of my clients keep the ban in place permanently. When they need credit, they lift it, get approved and put it straight back on."

It's free, effective and offered by all three major bureaus.

But knowing what's on your file in the first place is just as important. And for that, many people use credit score apps.

Apps and websites such as ClearScore, Credit Savvy and Wisr have made it easier to access your credit score, but they come with caveats.

"ClearScore is more of a marketing platform," says Dunne. "They'll encourage you to apply for high-interest loans with promises like, 'Increase your score by X points'. But it can actually damage your real credit score."

She recommends accessing your report directly through the official bureaus.

"That's what the banks are looking at. You want to see what they see."

Credit Savvy, which uses Experian data, was retired in May 2025 and folded into the CommBank app. While this may improve accessibility, Dunne still recommends going straight to the source.

How to protect your credit

• Check your report every three months. It's free, and it won't affect your score. 

• Use official sources, such as Equifax, Illion and Experian. 

• Be wary of credit score apps. They can be incomplete or misleading. 

• Know your rights. You can dispute errors and request corrections. 

• Use a credit ban if you suspect fraud. It's free, fast, and effective.

What to do if you feel overwhelmed

"Get help," says Dunne. "There are professionals who know the system and can fight for you."

Because your credit file isn't just a number, it's a record of your financial agency. And it should never become a weapon in someone else's hands.