For those that are interested you can now buy your credit report & specifically your Veda credit score for $85 from Veda. As per above, scores are listed as 0 - 1200. It is possible to go into a negative score, and even down to -999, but that would be a declared bankrupt individual.
The whole Veda scoring system is based on likelihood of defaulting on a loan within the next 12 months. so, below 200 is an 80% chance of defaulting, not very good and no chance of getting credit. 200 - 400 is a 20% - 40% chance of defaulting on credit, 500 - 700 is from memory a 11% chance of defaulting and 700+ is a 6% chance of defaulting. 500 - 700 is the mean australian score range, this is where you want to be at or above. Plenty of enquires for unsecured credit such as credit cards will result in a significant drop in your score.
Having said that, I saw a credit report this week with 50+ enquiries over the last 5 years for unsecured credit, so basically 10+ per year and her score was 490. Another 10 points and she is all of a sudden back into the average range and a good candidate for credit.
Its worth paying the $85 for your score, and it gets updated monthly so you can track it.