ClearScore has been in the credit score game since 2015, launching in the UK before taking their brand to India and South Africa. They launched in Australia in 2020.
You may have seen their television ads, but is ClearScore any good? Read on to find out.
Get your credit score at Finty. Our service is free and our app is available on iOS and Android.
Inside this guide
Who owns ClearScore?
ClearScore is an independent company headquartered in London. Their company registration number is 09221862. ClearScore Australia is a part of the worldwide brand, with offices in Sydney.
Experian attempted to acquire the business for £275 million. However, the deal was abandoned in 2019 over fears that UK regulators wouldn’t “approve the proposed acquisition of ClearScore on satisfactory terms”. [1]
Are they a legit service?
ClearScore is 100% a legitimate online credit score platform. In fact, we have met with their team on several occasions.
They have middling to positive reviews worldwide for their services, and the few complaints are regarding the confusing nature of their scoring system.
How much does it cost?
ClearScore is a free service. Their company is funded from the commission they are paid when their users are referred to a bank or partner and apply for a product.
What ID is required to sign up?
As with any credit report service, ClearScore requires proof of identification to create an account. You’ll need to provide your full name, date of birth, two years of address history and either a driver’s licence, passport, or Medicare number on registration.
How often can you check?
ClearScore updates your credit score every month based on when you registered your account. You can sign in and check your score any time you want. A timeline feature also offers a way to see how your score has developed over time.
What do you get in your credit report?
ClearScore provides a fairly comprehensive snapshot of your credit report, with all the factors included that you need to know. This includes their calculated ClearScore score, as well as credit account details, payment history, defaults, and bankruptcies. You’ll also be able to see what percentage of credit you’re using currently and any hard and soft searches made against your name.
Do they have a mobile app?
Yes, ClearScore offers a mobile app for Android and iOS. You can also choose to use your mobile for two-factor authentication if you’d like to improve the security of your account.
Does using ClearScore affect your credit score?
No. ClearScore runs a soft search on your file. This won’t affect your credit score and you can sign up without the worry of it having a direct impact.
It is worth mentioning, though, that any loans or credit cards you sign up for through ClearScore will be subject to a hard search, as you are applying for a form of credit.
Can I use it to get the credit score for a business?
ClearScore is solely a personal credit score service. The company does not currently offer any additional service or functionality for businesses.
Alternatives
Still want to shop around? Here are some of the top options on the Australian market for you to explore:
- Finty. Get your credit score for free. Track on a dedicated mobile app.
- Get Credit Score. Popular service owned and operated by Equifax.
- Credit Simple. Get your credit score from illion. Also offers credit scores for businesses.
- Credit Savvy. Operated by X15 Ventures, which is a subsidiary of Commonwealth Bank.
- Equifax. Free and paid plans available as well as additional services.
- Experian. One of the main credit reporting bureaus. Free and paid plans available.
- Finder. Offers a free credit score service integrated with their app.
Article sources
1 Reuters. "Experian, ClearScore scrap merger plans, https://www.reuters.com/article/us-clearscore-m-a-experian/experian-clearscore-scrap-merger-plans-idUSKCN1QG1CA". 27th February, 2019.
