A new free credit rating website backed by peer-to-peer-lender SocietyOne crashed on Tuesday morning following a web traffic of "hundreds of thousands" of borrowers hungry for transparent credit rating data.

The credit score website GetCreditScore.com.au has been live since Monday evening but has been unavailable for access since around 8.45 AEST on Tuesday.

The new website uses data from credit bureaus such as Veda Group to provide a credit score on a scale of 0 and 1200 without having to pay a fee.

"The site is currently experiencing overwhelming popularity - into the hundreds of thousands of visitors in fact - and the GetCreditScore team is working hard to rectify it," GetCreditScore's public relations manager said in a statement.

The public relations manager could not confirm the exact number of visitors or the identity of the website's host provider.

The creators of the website said the tool empowered consumers to negotiate better interest rates with banks.

"Credit scores are becoming increasingly important for Australians, yet most people would not know their score. It is time now for consumers to get informed, find out their score and start pushing for a better deal," GetCreditScore spokesperson Christopher Zinn said in a statement on Tuesday.

SocietyOne has been calling on all credit providers should make positive reporting to the comprehensive reporting regime to increase competition.