Your credit file is a tool that lenders and financial institutions use to determine your qualification for a loan, credit card, or account application. It’s an important, ever-changing report that takes into consideration all of your financial activity throughout your life, and is something you should keep tabs on. Thankfully, there is an easy, free way to check up on your credit file.
Getting a Copy of Your Credit Report
To get a copy of your credit report, you will have to contact one of Australia’s Credit Reporting Bodies (CRBs) and provide them with the following information:
- full name
- address
- date of birth
- previous address
- driver’s licence number
The three national CRBs in Australia are:
- Vedacom.au (Equifax) – 1300 762 207
- D&B CheckYourCredit – 1300 734 806
- Experian Credit Services – 1300 783 684
Free credit reports must be provided within ten days following the receipt of your request, although there is usually a paid service that can expedite the process. Contact the CRB directly for a full list of fees for paid services.
Restrictions on Accessing a Free Credit Report
You can access your credit report for free from a CRB once a year, or, under the following circumstances:
- If you have applied for and been refused credit within the past 90 days
- Where your request for access relates to a decision by a CRB or a credit provider to correct information included in your credit report
Why You Should Know About Your Credit Report
As your credit report directly correlates to your ability to get a loan, knowing what your credit score is can assist debt negotiators in finding the right lender for you. You can also see what factors are negatively affecting your credit report, and take steps to rectify them.
