Ghosts and ghouls might send shivers up our spines around Halloween, but something terrifies Australians much more: credit scores! New research from financial comparison site finder.com.au has found one in seven Australians are too scared to check their credit score.

Most fear their score will be so low it would disqualify them from getting a mortgage, a personal loan, or a rental lease. Many worry simply checking their credit score would make it worse. One in 10 said they avoided learning about their credit score because they would be embarrassed if their partners knew their scores were low.

Financial experts urge the nearly two-thirds of Australian adults who don’t know what their credit score is to summon the courage and get the facts.

“Checking your credit score isn’t something which should be feared,” confirmed finder.com.au spokesperson Bessie Hassan speaking to news.com.au. “In fact, you should be more worried if you don’t know what your credit score is.”

She also dispelled a common myth, noting that simply checking your credit score has no negative impact.

“What can however impact your credit score is not checking it and then applying for credit you won’t be approved for because you do not have a good enough score,” she explained.

Several other bad money habits can also dent your credit score. Carrying a lot of debt or having a lot of credit cards, even if they’re not maxed out, harms your credit score. So does making several inquiries about new credit cards in a short period of time.

Knowledge is power, so don’t let fear hold you back from making smarter financial decisions this Halloween season. Even the lowest credit score can be increased. Knowing your credit score tells you whether you need to modify your financial behaviour to improve your credit health. Check your credit score for free using the national credit reporting bodies listed on the government’s Equifax Australia website, then call Chase Edwards on 1300 854 833. Our financial experts can help you put plans in place to reduce your debts and improve other elements of your financial health to increase your credit health.