Does Changing Your Address Affect Your Credit Score?

Moving house is stressful enough without worrying about your credit score. The good news? Simply changing your address won't directly affect your credit score at all. But there are a few related things that could impact it if you're not careful.

Let's clear up the confusion and cover what you actually need to know.

Your Address Doesn't Impact Your Credit Score

Here's the straightforward answer: your address itself has zero impact on your credit score.

Credit reporting agencies like Equifax and Experian use your address purely for identification purposes. It helps them verify who you are and match all your credit information to the right person. The address appears on your credit report, but it's not a factor in calculating your score.

This means:

• Moving to a "bad" postcode won't lower your score
• Having multiple previous addresses on your file is fine
• Frequent moves don't automatically hurt your creditworthiness
• The previous tenant's credit history doesn't affect yours

Your credit score is based on how you manage credit, not where you live.

What Could Go Wrong When You Move

While the address change itself is harmless, things related to moving can definitely impact your credit score if you're not on top of them.

Missing Bills Sent to Your Old Address

This is the big one. If you don't update your address with banks, credit card companies, and service providers, bills and statements will keep going to your old place.

Miss a payment because you didn't receive the bill? That's still recorded as a missed payment on your credit file. The credit reporting system doesn't care why you missed it, only that you did.

A single missed payment can drop your credit score significantly. For context, missing just one credit card payment could cause your score to drop around 20% or more, depending on your overall credit history.

Missed Utility Bills at Your New Address

When you move, you typically set up new accounts for electricity, gas, internet, and water. If these bills slip through the cracks because you're dealing with moving chaos, missed payments get reported to credit bureaus.

Utility companies are increasingly reporting payment information to credit agencies, so treating these bills as seriously as loan repayments matters for your credit health.

Opening Multiple New Accounts

Moving often involves opening several new accounts: utilities, internet, possibly a new phone plan. Each of these might involve a credit check, and multiple credit inquiries in a short period can temporarily lower your score.

Hard credit inquiries (the type that shows your full credit report) typically cause small, temporary dips in your score. Having several in quick succession can be more noticeable, though the impact usually fades within a few months.

Electoral Roll Registration

In Australia, being registered on the electoral roll at your current address is important for credit health. It's one of the ways lenders verify your identity and assess stability.

If you move and don't update your electoral roll details, it can make it harder to be approved for credit and may raise questions when lenders check your information.

How to Update Your Address Without Issues

Protecting your credit score when you move is straightforward, it just requires being organised.

Update your details with:

• All banks and credit card providers
• Loan providers (personal loans, car finance, mortgages)
• Utility companies (electricity, gas, water, internet)
• Phone and insurance providers
• Any other companies you have credit or payment arrangements with

Most of these can be updated online or with a quick phone call. Do this as soon as you know your new address, ideally before you actually move.

Set up mail redirection: Australia Post offers a mail redirection service ($165 for 12 months, covering up to six names) to forward mail from your old address to your new one. This creates a safety net for any bills or important documents that slip through while you're updating details.

Register on the electoral roll: Update your enrolment with the Australian Electoral Commission at your new address. You can do this online at aec.gov.au.

Switch to paperless billing: If you haven't already, switching to email statements and bills means you'll receive them regardless of your physical address. This reduces the risk of missing important payment reminders during a move.

Set up direct debits: Automatic payments for regular bills mean you won't miss a payment even if you don't receive a reminder. This is especially useful during the chaos of moving.

You Don't Need to Contact Credit Bureaus

One thing you don't need to do: contact Equifax, Experian, or other credit reporting agencies directly about your address change.

They'll automatically update your address based on information provided by your lenders and service providers. It typically takes 30 to 45 days for your new address to appear on your credit file after you've updated your details with creditors.

What If You See an Address You Don't Recognise?

Your credit report will show both current and previous addresses. Seeing old addresses you've lived at is completely normal and nothing to worry about.

However, if you see an address on your credit report that you've never lived at, that's a red flag. It could indicate identity theft or fraud, where someone has applied for credit using your details but their address.

If this happens:

• Contact the credit reporting agency immediately to dispute the incorrect information
• Check for any accounts or credit inquiries you don't recognise
• Consider placing a ban on your credit report to prevent further fraudulent applications
• Report potential identity theft to IDCARE, Australia's national identity and cyber support service

Multiple Addresses: Not a Problem

Some people worry that having lots of addresses on their credit report makes them look unstable or unreliable. This is largely a myth.

While extremely frequent moves (like 10 addresses in two years) might raise questions about stability when lenders manually review applications, it's not a scored factor in your credit rating. What matters much more is your actual credit behaviour: making payments on time, managing debt responsibly, and not applying for too much credit at once.

Your address history is simply a record that helps verify your identity and connect your credit information over time.

Moving Interstate or Overseas

The same principles apply whether you're moving across town or across the country. Update your address with all your credit providers and services, and your credit score won't be affected.

If you're moving overseas temporarily and plan to return:

• Keep Australian accounts open if they don't have fees
• Continue making any debt repayments from overseas
• Update your overseas address with providers so you receive statements
• Consider keeping one Australian bank account active for easier transition when you return

Missing payments on Australian debts while overseas will still damage your Australian credit score and can create serious problems when you return.

The Bottom Line

Changing your address is completely safe for your credit score, as long as you update your details properly. The address itself has no impact whatsoever on your creditworthiness.

What does matter is making sure bills and statements reach you at your new address so you don't accidentally miss payments. A bit of organisation during your move protects your credit health and saves you from the stress of dealing with missed payments later.

Keep Track of Everything During Your Move

Moving involves juggling multiple accounts, bills, and financial obligations. It's easy to lose track of what's been updated and what hasn't, especially during a stressful relocation.

WeMoney helps you see all your accounts in one place, so you can track which services are still sending statements to your old address and ensure everything's been updated. Monitor your transactions to confirm bills are being paid correctly during the transition, and check your credit score to make sure nothing's gone wrong.

Having visibility over your complete financial picture makes moving less stressful and helps ensure nothing slips through the cracks. Download WeMoney free for iOS and Android.

Disclaimer: This article provides general information only and is not financial advice. WeMoney operates under Australian Credit Licence 526330 as a non-advice platform. For specific advice about your credit file or report, contact Equifax or Experian directly. For personalised financial guidance, please consult a licensed financial adviser or conduct your own research before making financial decisions.