Your credit report holds information relating to your credit history and it helps credit providers, such as banks, financial lenders, telco and utility companies, get a clear picture of your credit worthiness when you make an application for a loan or credit contract.

If you’ve ever applied for a credit card, personal or home loan, store finance, mobile phone or an electricity or gas contract it is likely that you will have a credit report. A credit report includes information such as:

• Personal details including your full name, date of birth, driver’s licence, gender and residential addresses and employer information.
• Consumer credit information which may include:

• Credit applications you have made for personal use
• Credit account information including type of credit account, the credit limit and the dates accounts were opened or closed
• Monthly repayment history on credit accounts such as mortgages and credit cards. This will reflect whether you paid the minimum amount required on your financial commitments each month on time or not.
• Details of overdue debts like payment defaults

• Publicly available information can also be included as part of your consumer credit information. This includes court judgements and court writs, directorship details, proprietorship details and bankruptcy, debt agreement and personal insolvency information.
• Commercial credit information which may include:
  • Credit applications for credit for commercial purposes
  • Details of overdue commercial credit accounts

What is a credit rating?

In Australia, the largest credit reference agency is Equifax (previously Veda). Your Credit Score is a credit rating and if you have a credit report with Equifax, is it likely that you will have a Score too. It is a number between 0-1200 that summarises the information on your credit report at a point in time. Your Score can help you understand the information in your credit report and how it affects your ability to get a loan.

With your Score, not only do you find out your credit rating, but you’ll also learn what information on your credit report is contributing to your credit rating, good and bad. This information, called ‘contributing factors’, can help you understand what you can do to improve your Score credit rating. Your Score is important to know as it is what lenders can look at when deciding whether to accept your application for a loan or credit. In simple terms, the higher your Score, the better your credit profile and the more likely you are to be accepted for credit.

Want a copy of your credit report?

A credit report without a Score is available upon request or alternatively a credit report and Score can be purchased. At Brickhill we can assist you to arrange either report.

Please note that credit reports are only free in certain circumstances.

• You can request a copy where a credit application was declined. You must apply within 90 days of the date you were declined
• You can request a copy if you have lodged a correction request and been advised that information on your file has been corrected
• You can request a copy once every 12 months

Please call us on 1300 252 088 if you would like assistance to arrange a free credit report.