Get a FREE copy of your credit report

It’s a good idea to check your credit report every year to make sure there are no mistakes that could affect your credit record and your ability to get finance. You can get a FREE copy of your credit report every 12 months and it only takes about eight days to reach your email inbox. If you need it within 24 hours then there could be a fee of up to $80.

Find out what’s in your credit report

Your credit report contains information about your credit history. The type of information you will find in your credit report is the following:

Check the defaults on your credit report

If you don’t make payment on a debt, your credit provider may refer your debt to a debt collector and/or report your debt to a credit reporting agency and ask them to record the default on your credit report.

A credit provider may only report your debt if:

• The default amount is $150 or more
• You’re a ‘confirmed missing debtor’ or ‘clearout’ which means that your creditor can’t get in contact with you, or
• 60 days or more have passed since the due date for payment, and
• The creditor has asked you to pay the debt either in person (for example by phone call) or in writing (sending a written notice to your last known address)

The credit provider must notify you that they may lodge a report about the overdue payment, before they do so. Usually, your credit contract or service agreement will explain when your creditor may take a report about you to a credit reporting agency.

How long will a default be listed?

A credit default listing remains on your report for 5 years (in the case of a clearout it remains for 7 years). If you pay the debt, the listing stays but your credit report will be updated to show you have made payments.

When you apply for credit down the track, for example for a home loan or business loan, you may be rejected on the basis that there is a default listed on your credit report.

Credit providers must tell you if your application has been rejected because of something in your credit report.

Get a FREE copy of your credit report

You have the right to find out what’s in your credit report and correct any wrong information. You can receive a free copy once a year if you can wait eight days. You may have to pay up to $80 if you need the report faster.

You can get a copy of your credit report from the following credit reporting agencies. Some agencies have a form to fill out on their website, others ask you to email them your details or send them a letter.

You’ll need to provide the credit reporting agency with the following information to get a copy of your report:

• Full name
• Date of birth
• Current and previous address
• Day time phone number
• Current or previous employer
• A copy of your driver’s licence, passport, birth certificate or Proof of Age card
• A document issued by an official body which includes your name and address (e.g. rates notice, utility bill or bank statement)

How to correct a wrong listing

Follow these steps:

• If you think you have had a credit default wrongly listed against you, contact the creditor. You can dispute the listing and ask for it to be removed. If the creditor agrees the listing is wrong, they will ask the credit reporting agency to remove the listing from your report.
• If you are not satisfied with the response you get from the creditor, contact us and we will put you onto a reputable credit repair agency for help.
• You may be able to put a ban on your account free of charge to ensure only credit providers can access your account.

If you haven’t already, click on any of the below links to download our FREE E-Book or email us instead and we’ll send it to you within 24 hours.

First home buyers E-Book

Refinancing E-Book