Worst credit scores from Brisbane to the Gold Coast revealed
The suburbs with the worst credit scores in the south east have been revealed and there are some surprising entries on the list.
New analysis by comparison site Finder crunched the averages and found 24 suburbs were hovering close to weak from Brisbane to the Gold Coast.
The lowest average credit score came out of Logan suburbs Crestmead and Marsden (postcode 4132) which pulled 554 out of a possible 1000 — “fair” but teetering close to the edge of “weak”.
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Brisbane suburbs Ellen Grove and Forest Lake (4078) were in the same boat though slightly better at an average of 593.
But a massive group of 20 suburbs were hovering just above that with an average credit score of 598, just 44 away from the worst in the region.
Logan had the bulk of those, with Bahrs Scrub, Bannockburn, Beenleigh, Belivah, Buccan, Eagleby, Edens Landing, Holmview, Logan Village, Mount Warren Park, Windaroo, Wolffdene and Yarrabilba.
In that number were also Gold Coast suburbs Alberton, Luscombe, Stapylton, Steiglitz, Woongoolba and Yatala, with one suburb from Moreton Bay — Cedar Creek.
Finder personal finance expert Kate Browne said income and employment rate were among the factors that affected credit score averages.
“Those with a high income and a steady job are more likely to pay their bills on time,” she said.
The national average was 685 at present, which was the top of the “good” range, with anything above 800 considered “excellent”,
The best scores in the SEQ region came out of Hawthorne, Bulimba and Balmoral, which also made the national top five list on an average credit score of 806.
“The very first step is knowing your score. Lenders and banks know your score, so you should too,” Ms Browne said.
“If you find there’s room for improvement, you can take some simple steps such as making sure you’re paying bills on time and keeping credit card limits low.”
Finder analysed 14,000 Australian credit reports for the analysis.
Postcodes with lowest average credit scores
Postcode Score Suburbs
4132 554 Crestmead, Marsden
4078 593 Ellen Grove, Forest Lake
4207 598 Alberton, Bahrs Scrub, Bannockburn, Beenleigh, Belivah, Buccan, Cedar Creek, Eagleby, Edens Landing, Holmview, Logan Village, Luscombe, Mount Warren Park, Stapylton, Steiglitz, Windaroo, Wolffdene, Woongoolba, Yarrabilba, Yatala
4163 622 Cleveland
4034 625 Aspley, Boondall, Carseldine, Geebung, Zillmere
4127 628 Daisy Hill, Priestdale, Slacks Creek, Springwood
4014 633 Banyo, Nudgee, Nudgee Beach, Virginia
4157 638 Capalaba, Capalaba West, Sheldon
4115 644 Algester, Parkinson
4114 645 Kingston, Logan Central, Woodridge
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