What is a credit report?

A credit report details your credit-related activity, including records of when a credit provider has accessed your history as part of a credit application or assessment process. You are entitled to one free credit report every three months through the official Australian Credit Reporting agencies.

A credit report provides an overview of how you manage and use credit. If you have ever held a credit card, taken out a loan, or applied for a mobile phone plan, you are likely to have a credit history. This history may include information such as credit enquiries, existing loans, defaults, bankruptcies, and your record of making payments on time. Credit providers use this information to assess your financial situation and determine whether to approve an application for credit.

Why do I need a credit report?

A credit report can help identify whether someone has attempted to obtain credit in your name. Requesting a copy of your credit report each year is also a useful was to monitor your credit file and check for any inaccuracies. These may include credit enquiries or accounts that you do not recognise or cannot 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 do I obtain a free credit report?

Request a free credit report from BOTH credit reporting agencies as one may hold credit information the other does not
The links below will take you to the application forms for both Credit Reporting Agencies (CRAs). You will need to complete the relevant forms and provide the required identification documents. Both Equifax and Experian allow you to submit your application and upload your identification documents directly through their websites.
Equifax
Experian
It is recommended that you wait until the credit ban is in place before applying for the reports.

Credit reports FAQs

Do I need to pay for a credit report? No. The OAIC states that credit reporting agencies must allow you free access to your credit report every three months. You may be entitled to additional reports at no cost if you have been refused credit within the last 90 days, or if your credit-related personal information has been corrected.
What’s the difference between a credit report and a credit file? Nothing. Both terms are commonly used to mean the same thing.
What I am looking for when I get my credit report? You are looking for details in relation to credit enquiries or debts that you cannot explain and had nothing to do with. These are indicators of either a mistake or an identity theft event. You should also check your personal details on each report as, fraudulent applications may be using incorrect information, which can appear on your file.
What happens if I cannot understand the names of credit providers on my credit report? It is common for credit enquiries to be made by credit providers that have a different name to the place a consumer obtains credit from. Check with the named organisation as to which products / services / organisations they work with (you may find that the different name relates to a service you legitimately applied for).
What if I find errors on my credit report? You have the right under the Privacy (Credit Code) Act 1988 to dispute with either the Credit Reporting Agency or Credit Provider the entry on your credit report that is incorrect. These organisations must investigate and provide consumers with an outcome at no cost. Sometimes we have people say that Credit Reporting Agencies defer them to the Credit Provider to correct their credit report, but under the Code the CRAs must act if requested to do so.
Do I need to obtain a credit report from both Credit Reporting Agencies? Yes. We recommend you apply for your credit report from Equifax and Experian. Each agency may hold different information about you, as they collect and maintain credit information independently. As a result, information that appears on one credit report may not appear on the other. Reviewing both credit reports provides a more complete picture of your credit history.
What if a Credit Reporting Agency does not have a credit report (file) relating to me? This can be common for individuals who have never applied for a line of credit. Or it may simply mean that credit providers you have dealt with have not supplied information to or conducted credit checks through that Credit Reporting Agency. As a result, the agency may not hold any credit information about you.

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For additional support or information, contact IDCARE by submitting a Get Help Form or call 1800 595 160 (Aus) or 0800 121 068 (NZ).

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