published March 23, 2020
ByWisr Support
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Protect Your Credit Scores During The Coronavirus Outbreak

Even if credit scores are the last thing on your mind right now, things will go back to normal soon enough, and it’s important to keep a future-focused outlook. They matter because our credit scores reflect how well we can manage money and impact a lot of life areas. Here are a few ways you can preserve your score, even if money is tight.


Check your credit scores regularly.

If you don’t know what credit scores are, this article gives you the complete rundown on what they mean and why they matter. They essentially sum up your creditworthiness and give an indication of how well you manage your finances. If you haven’t checked your credit scores before and don’t know where they sit, you can create a free credit profile right here on WisrCredit. We’ll also keep you posted whenever they change.


Create a free credit profile in two minutes.


Contact your credit providers.

If you have a loan or a mortgage, making your repayments on time is one of the most important factors in determining your credit score. If your financial situation has recently changed, many credit providers are offering COVID-19 financial assistance. It’s a good idea to reach out and learn about support available to you, such as deferring or reducing repayments, redraw options and reduced interest rates. 

If you are a Wisr personal loan customer, we’re here to support you during these tough times. We are committed to the financial wellness of all Australians, and have implemented a COVID-19 response plan and some FAQs regarding the support available. Please don’t hesitate to reach out to our customer support team at or call us on 1300 922 007 between 9:00am to 5:30pm AEDT.


Pay your bills on time.

We know that meeting deadlines for household bills can be tough, even at the best of times. However, as mentioned above, it is important that bills are not left overdue as they can potentially impact your credit scores. Do you best to at least meet the creditor’s minimum requirements or repayments. 


Contact your service providers.

If you don’t think you can meet deadlines for household utility and service bills, don’t hesitate to reach out to your providers to learn more about their customer assistance initiatives. 


We’ve put together a helpful guide for managing household bills right now.


Dispute incorrect information.

Errors in your credit report are more common than you might think. That’s why it's a good idea to check your credit scores regularly to ensure that all information is accurate and up to date. If you need to dispute an error on your credit report, often you need to get in touch with credit bureaus directly.  You can learn more about credit report errors in our recent post. 


Don’t forget about your debt.

If you have the financial capacity to, it's a good idea to pay down debt now. To help you out, we created Wisr App on iOS and Android to help you pay down debt faster by rounding up all of your daily transactions on a monthly basis, automatically paying this into your chosen debt account. It’s just like rounding up your spare change because every cent counts right? 


Be proactive.

As tempting as it might be to wait for this to all pass and hope things will be okay – a little work is required. Take initiative and assess your financial situation. Maybe now is a good time to make a budget. Also reach out to your providers like we mentioned above and make those difficult phone calls. Having some control is a great way to feel better and regain power.


Now give your scores a check to see where you stand today.

DISCLAIMER: This article contains general information only, and is not general advice or personal advice. Wisr Services Pty Ltd does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.
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