Mylifeasa credit unicorn

I am a unicorn.

That’s a sentence I never thought I would begin a money column with.

Unicorn is a term used in the credit scoring industry for people with credit scores over 900.

They are so rare they are practically mythical. At least that is what I had been told.

But overnight I became one, making me wonder whether credit unicorns really are that rare, or whether there has been something deeply flawed about the credit rating system.

Every adult has a credit score between zero and 1000, with zero being unspeakably terrible, and 1000 representing a god of money.

They are calculated by the big credit reporting bureaus, including Veda and Dun & Bradstreet.

They compile reports using information passed to them by our banks, our insurers and a whole heap of other businesses.