What are Credit Reporting Agencies?
A credit reporting agency is a private company that collects data and maintains historical information on consumer and business credit records. Credit reporting agencies also provide consumers and credit providers with credit reports.
You are entitled to one free credit report every year. A credit history provides a ‘picture’ of how you use credit. If you have ever owned a credit card, taken out a loan, or applied for a mobile phone plan you will have a credit history. Your credit history may include information such as loan inquiries, current loans, defaults, bankruptcies, and details about whether you pay your bills on time. This ‘picture’ is used by credit providers when deciding whether or not to approve an application for credit.
Why do I need a Credit Report?
A credit report is a means to assess whether someone has attempted to obtain credit in your name. A yearly credit report is also a way you may monitor your file to ensure no errors are on your report. Errors may look like enquiries organisations have made about your credit you can’t explain.
Please Note: If you request your credit report, your current contact details will then become available to any lenders, creditors or debt collectors who check your report.
How to do I obtain a Credit Report?
- Request a free credit report from ALL relevant agencies as some may gather credit information others have missed :
- Australia - Equifax (formerly Veda), Experian, illion (Formally Dun & Bradstreet).
- New Zealand - Equifax, Centrix, illion
- Have sufficient identification ready in order to obtain your credit history.
- You may be charged a fee if you have already obtained a report from the same credit reporting body within a twelve month period.
- You may also be charged a fee if you require an urgent copy of your credit report – free credit reports takeup to 10 working days.
- If you would like help understanding the process or need assistance in obtaining or interpreting your credit report please contact IDCARE.
What if my identity has been compromised?
- If there is risk that your identity may be fraudulently used, it is recommended that a ban (also known as a suppression) be placed on your file – this is a free service.
- During a suppression period, credit providers will not be able to access your file for 21 days (Australia) or 10 days (NZ).
- Report your matter to police and notify your financial institution(s).
- A suppression may be extended indefinitely but you will need to provide proof of fraudulent activity (or risk thereof) ie: police report or if it’s an online crime and you’re in Australia an cyber.gov.au report number.
For more information please see our Credit Bans Fact Sheet and Suppressions Fact Sheet.
Relevant Websites
Australia
- Equifax - www.equifax.com.au
- illion – www.dnb.com.au
- Experian - www.experian.com.au
New Zealand
- Equifax - www.equifax.co.nz
- illion – www.illion.co.nz
- Centrix - www.centrix.co.nz
Disclaimer
Identity Care Australia & New Zealand Ltd (IDCARE) provides identity and cyber security incident response services (the Services) in accordance with the following disclaimer of service:
IDCARE is Australia and New Zealand’s national identity and cyber incident community support service. We are a not-for-profit charity.
- The Services provide do not constitute legal advice. IDCARE recommends that you consult a solicitor in relation to your legal rights and obligations, including but not limited to your legal rights or obligations under Australian and international privacy and data protection laws.
- While every effort has been made to ensure the accuracy of the information in this product or service, to the maximum extent permitted by law all conditions, terms, representations, and warranties (in each case, whether express or implied) in connection with the provision of the Services which might otherwise be binding upon IDCARE are excluded.
- IDCARE’S liability for any loss or damage suffered by any person or organisation (including, without limitation, any direct, indirect or consequential loss or damage) arising out of or in connection with the Services (including without limitation liability for any negligent act or omission, or statement, representation or misrepresentation of any officers, employees, agents, contractors or consultants of IDCARE) shall be limited to the fees paid by you to IDCARE in respect of the Services. For the avoidance of doubt, this limitation of liability extends to any liability arising from any actions performed or not performed as a result of any recommendations made in course of providing the Services.
- The Services provided by IDCARE are intended to be provided solely to the initial recipient of this document or service and IDCARE will not be liable to any other person who may receive this document.
While every effort has been made to ensure the accuracy of the information in this alert, IDCARE disclaims any liability to any person in respect to any actions performed or not performed as a result of the contents of the alert or any accompanying data provided. Wider dissemination may be permitted by authority in writing from IDCARE’s Managing Director. If you would like to provide feedback please use our Feedback Form.
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IDCARE as a registered charity does not ask individuals to donate or pay for our front line services. We are not a charity that can receive tax deductible donations. We rely on organisations that care enough about you to care about us to keep our charitable service going. Proudly these organisations are displayed above and on our Subscriber Organisations page. If you are asked for payment you are encouraged to report this to IDCARE via our Report Phishing page.