What is Included in Your Credit Report?
Your Credit Report
If you have ever applied for credit or a loan there will be a credit report about you.
What is included in your credit report?
Together with your personal information such as your name, gender, date of birth, address, employer details and driver licence number your credit report will include the following information:
- Type of credit product (for example: credit card, store card, home loan, investment loan, personal loan and business loan)
- Lender/credit provider
- Credit limit
- Opening and closing dates of the account
- Name of a joint borrower, if applicable
- Repayment amount
- When repayments are due
- How frequently you make the repayments and if you paid by the due date
- Any missed payments (those that were not made within 14 days of the due date) and if, and when, you made them.
Any defaults (non-payment of your debt)
- Includes defaults on your phone and utility bills, together with any loans
- A default remains on your credit report for five years
- If you pay the default this will remain on your credit report, although will show that you have paid it.
- The number of applications you have made
- Total amount of credit you have borrowed
- Any loans you have guaranteed
Public Record Information
- Court judgements
- Directorship details
- Proprietorship details
- Bankruptcy, debt agreement and personal insolvency
What is your credit report used for?
A Lender/credit provider can request your credit report when they consider your application for a new loan, credit card or service contract. The report helps them decide if you are likely to default on your repayments or not.
Can you access your credit report?
You can request a free copy of your credit report at least once a year – ask us how to request this quickly and easily.
Why should you access your credit report?
Checking your credit report gives you the opportunity to identify any mistakes – and have them corrected. It can also alert you to identify theft. Identity theft is where other people use your information for financial gain.
Who retains your credit report?
There are three credit reporting agencies in Australia:
- Equifax (previously known as Veda)
- Illion (trading as Dun & Bradstreet Australia)
- Experian Australia
Do you have any questions?
Please contact us by phone or email – we would appreciate the opportunity to assist you.