Understanding your credit file and how to access your credit report

Consumers often ask, “What is my credit file?” or “How do I get access to my credit report?” All consumers are encouraged to learn more about Comprehensive Credit Reporting, including the difference between a credit file and a credit report, and how to gain access to this information.

A credit file may be created in a number of ways by any approved credit reporting bureau. These different ways are the result of:

• an enquiry about a consumer made by a credit provider (lender), mortgage insurer, or trade insurer e.g., when you make an application for credit with a lender;
• a commercial credit enquiry made by a credit provider or an organisation conducting a financial risk assessment; and
• information received by a credit reporting bureau from third parties such as the courts; AFSA (which holds personal insolvency information); and ASIC (which holds directorship information).

A credit report is prepared by a credit reporting body as the result of credit enquiries about your credit history by a third party or by your request. Credit reports contain details about your credit history and certain other information about you, including whether you are, or have been, bankrupt and court judgments against you or whether you have a default lodged for non-payment.

Personal credit file information may be held by several different credit reporting bureaus and can be different from one bureau to the next.  The following are the names and links to 3 commonly used credit reporting bureaus in Australia:

Veda 

• To buy certain information about you which is held by Veda click on this weblink.

• To get a free report from Veda click on this weblink

Experian

• To get a free report from Experian click on this weblink

Dun & Bradstreet (D & B)

•  To get a report from D & B either free or paid click on this weblink

Consumers can learn more about Comprehensive Credit Reporting and their credit file on the Credit Smart Website.  This is a Government prepared website which contains very easy to understand information about how and why your credit history is stored and accessed.

If you feel you need help with your financial situation or wish to speak to a financial counsellor about credit problems then click here for a list of Helpful Contact Links.