Credit reporting

Everything you need to understand credit reporting and what it means for you.

What is Comprehensive Credit Reporting?

Comprehensive credit reporting (CCR) is changing how credit reporting works in Australia. Find out what it means for you.

Comprehensive Credit Reporting (CCR) has changed the way credit reporting works in Australia. It provides a more complete picture of your credit history that can affect your ability to borrow money or get credit from banks and other lenders.

Like nearly all Australian adults that have credit, you have a credit report and score that play a big part in whether or not you can borrow funds to buy a house, a new car or get approved for a credit card.

In a nutshell, your credit score matters, which is why it’s more important than ever to keep it in good shape.


What is a credit report?

Your credit report is a bit like a report card for banks and lenders with important information (positive and negative) about your credit history.

If you apply for a loan or any other form of credit (like a credit card), your credit report forms an important part of your application, so it’s super important to keep your credit report in great shape.

What's in my credit report?

There are two parts to your credit report:

1. Your personal details

Your personal details are used to identify you, and include your name, gender, date of birth, address, employer and driver’s licence.

2. Your credit history

Information about how you’ve managed other debts including any loans or credit cards you currently have or have had over the last two years.


What is a credit score?

It’s the number on your credit report that summarises your credit history with a score. That rating tells a credit provider (a bank or lender) how likely you will be to pay back any money that you borrow from them.

The four main things that go into determining your credit score are:

  1. Your account repayment history
  2. Lack of negative credit information
  3. Recent credit application information
  4. Length of your credit history

Credit reporting bodies use different methods to calculate your credit score but it will be a number between zero and 1,000 or zero and 1,200.

The higher your score, the more likely you are to pay back a loan. The lower the get the picture!

What information could your credit history include?

  • Any loans and credit accounts you have had over the last two years.
  • Your repayment history on loans and credit cards, for up to two years.
  • Any financial hardship arrangement made during the previous 12 months.
  • Any credit applications you’ve made over the past five years.
  • Any credit defaults (if you’ve missed a payment of at least $150 by 60 days or more).
  • Your credit score – the higher the number the better the score.

View a sample credit report


What do we report to credit reporting bodies?

If you’ve got a loan or credit facility with us, we report your comprehensive credit information to a credit reporting body like Equifax, Experian and Illion.

What we report on includes information such as:

  • Your account identification details
  • The type of credit accounts you have (e.g. home loan, credit card)
  • The dates you opened and closed any credit accounts
  • Your repayment history, for up to two years
  • Any financial hardship arrangement made during the previous 12 months
  • Your current credit limits

What this means for you?

The information we report on includes positive and negative credit information that’s used by credit reporting agencies to determine your score - which means it’s really important to pay your bills, loan or credit card repayments on time to keep your credit report looking good.

Keep your credit score in top shape

Want to get a better handle on your credit? There are some simple things you can do to make sure you get on top of things and keep your credit report in good shape:

  • Only borrow what you need 
  • Reduce your credit card limit and pay down debt as soon as possible
  • Set up auto-payments for bills to make sure you never miss a payment
  • Keep your credit card and contact details up to date
  • Check your credit report and credit score regularly

See more tips for keeping your credit report healthy

How can I access my credit report and score?

You can request a free copy of your credit report once a year from each credit reporting body. To get a copy, you’ll need to contact the credit bodies directly and provide them with some identification.

Your credit report and score can change over time so it’s a good idea to check them on a regular basis.

Learn more about credit

If you’re serious about maintaining a good credit score, it’s a good idea to do some more homework and stay on top of the game. Head over to the CreditSmart® website for more information, or read our FAQs.

Need financial assistance?

We understand that sometimes circumstances can change in life and managing your repayments can become harder than usual.

If your financial situation changes and you’re worried about making your repayments on time, please contact us right away to find out how we can help.

Find out more about how we can help

Or contact us on 13 12 21, press 3 then option 3 or email us at [email protected].