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Credit Report

Definition of 'Credit Report'

A credit report contains a great deal of information about you, and your credit history, obtained from many different sources.

It is put together by the credit reference agencies and sold to lenders and others to assist them in making more informed decisions about you. The largest use of credit reports is in the assessment of credit.

Information on your credit report includes public domain information such as court judgments and bankruptcies. Information provided by the credit reference agencies themselves includes details of searches made by those assessing you for credit or other purposes.

Lenders also provide the credit reference agencies with information about how you conduct your financial affairs. A credit report includes positive reporting of accounts which are paid on time and which are up-to-date. Negative reporting on your credit report includes accounts that are in arrears, together with any serious credit infringements or defaults.

The information on your credit report at each of the four credit reference agencies operating in Australia may well not be the same as that held by another.

There are four credit reporting agencies in Australia who sell your credit report to lenders and others: Veda, (now part of Equifax), Dun & Bradstreet, Experian, and for people living in Tasmania, the Tasmanian Collection Service.

Each credit reference agency is compelled by law to provide your credit report either to you, or to a person who has been authorised, in writing, by you to act on your behalf.

Under Australian law, the onus for checking the accuracy of credit reports lies with you.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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