What Is Happening To My Credit File?
Updated: Jun 30, 2020
Comprehensive Credit Reporting (CCR) for Home Loans, Personal Loans, Credit Cards and Overdrafts is going live from mid-September 2019 for the remaining major lenders.
WHAT DOES THIS MEAN?
This means there will now be much more detailed information displayed on your credit report. Your credit report will include information such as:
The financial institution where the account is held – e.g. CBA, NAB etc.
The type of account that is held – Personal Loan, Home Loan, Overdraft or Credit Card
Account dates – open and closed (where applicable)
Current account liability (for loans, the balance plus redraw amount) or credit limit
The account repayment history, including:
When payments are made on time
When payments are more than 14 days late
WHAT IF MY REPORT IS WRONG?
If you believe the information on your credit report is incorrect we recommend that you obtain a copy of your credit report to investigate further. If the incorrect information is confirmed then you will need to commence an investigation with the credit reporting body or the relevant financial institution
WHERE CAN I GET MY REPORT?
You can obtain one free credit report from each of the individual credit reporting bodies per year (additional reports are provided at a cost). To get a copy of your credit report, you will need to contact the credit reporting bodies directly: