Late payments can significantly dent your credit score. To improve it, ensure you pay all your bills punctually. This includes credit card bills, loan repayments, and utility bills. Setting up automatic payments or reminders can help you stay on top of due dates and avoid late fees, thereby safeguarding your credit score from unnecessary harm.

It’s your job to show lenders that you're responsible with credit. Another way to do this is to not use up all the credit you have available to you. If your credit card balances are high, consider paying them down or spreading them across multiple cards to lower the overall utilisation ratio and potentially boost your score.

Regularly review your credit report for inaccuracies or discrepancies. Mistakes such as accounts that don't belong to you or incorrect payment statuses can harm your credit score. If you spot any errors, dispute them with the credit reporting body to have them corrected. Addressing these inaccuracies can lead to a fast improvement in your credit score.

Each time you apply for new credit, it leaves a mark on your credit report. Multiple applications within a short period can be viewed negatively by lenders and may lower your credit score. Try to hold back from unnecessary credit applications and focus on managing your existing credit accounts responsibly. By avoiding new credit inquiries, you can help safeguard your credit score from unnecessary fluctuations.

Having a healthy mix of credit accounts, such as credit cards, personal loans, and mortgages, demonstrates your ability to handle various types of credit responsibly. However, avoid opening new accounts for the sole purpose of diversification, as this could backfire.

Under Australian law, you're entitled to one no-charge annual credit report from each credit reporting body. Reviewing your report allows you to identify areas for improvement and ensure the accuracy of your credit information.