Take Control

The first company in Australia to provide consumers with online access to credit reports.




  

Current

Definition of 'Current'

’Current’ is a payment status shown on a credit report. ‘Current’ means that repayments on a credit facility are up to date and have been made in accordance with a credit agreement.

Payment status reflects the position of the credit facility on the date the account is reported to a credit reference agency.

Other payment statuses include ‘overdue’, where payments are late, and ‘default’, when a debt greater than $100 is more than 60 days overdue and when recovery action has been commenced by the lender.

Now that positive reporting has been implemented in Australia, accounts with ‘current’ payment statuses will usually increase a credit score.

In contrast, accounts that are reported to the credit reference agencies with payment statuses other than ‘current’ will decrease a credit score.

This is because payment statuses are highly predictive of future default.

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'

Accepted Payment Methods: VISA and MasterCard

©Checkmyfile Pty Ltd 2007 to 2019. All Rights Reserved.

Check your Australian Credit ReportCheck your UK credit report