CREDIT REPORT

A credit report shows all applications for credit, late bill payments and related information. Creditors pay to access credit reports and use this information to decide whether you are a good risk for them when you apply for credit. Credit reports can now record late payments of ordinary bills like electricity and gas etc.

Who uses a credit report?

Creditors pay to access credit reports and use this information to decide what sort of risk you pose to them, should you want to borrow money or undertake financial transactions related to paying off credit. Credit reports can now record late payments of ordinary bills like electricity and gas etc.


A credit report may or may not provide a credit score. You can get your credit report for free up to 4 times per year.

Getting a credit report

Refer to your bank statements

Credit reporting agencies host information about debtors (anyone that borrows money or uses credit) and sells that information to creditors. 

You can get your credit report for free at least once every 3 months from one of the Credit reporting agencies. 

It can take up to 10 days to get your credit report. 

You can contact one of the credit reporting agencies below to get your credit report. 

Sometimes there are differences between your credit report from one agency to the other, so it’s worth checking with each one to make sure that each report is correct and consistent with your understanding of your financial situation.

You can read more about credit reporting agencies at MoneySmart - credit scores and reports

If you want to understand your credit rating, getting your credit report is worthwhile. However, if you are having trouble with debt, there is a risk that when you apply for your credit report, creditors may increase debt collection activity. This occurs because when you apply for your credit report, your details are updated and creditors have your up to date information. 

Considerations before ordering a credit report

It’s worth getting your credit report to understand financial habits like use of credit and to ensure nobody has applied for credit in your name.

If you are being pursued for debt or you are concerned about your debt, the best thing to do is to discuss your situation with a free financial counsellor before getting your credit report. You can find a financial counsellor by going to moneysmart.gov.au/managing-debt/financial-counselling or call 1800 007 007 (National Debt Helpline)

If you do not have unmanaged debt, it’s worth finding out about your credit score because it’s a great way to check that everything is correct. If there are loans and other things on your credit report that you do not know about or never had, it may be that someone has used your identity. If this is the case, get in touch with the credit reporting agency to find out next steps.

If there are mistakes in your credit report, you can fix them yourself by getting in touch with the credit reporting agency and requesting them to remove the incorrect information. 

Credit repair agents target debtors to assist them to clear their credit history. These services are expensive, often ineffective and sometimes encourage people to enter formal Debt Agreements (a formal Debt Agreement is an act of bankruptcy). The best way to clear errors is to do it yourself for free. 

What’s on your credit report

1. Information about every credit product you have held over the last 2 years including:

  • The type of credit product
  • Who gave you the credit (credit provider) 
  • The credit limit (maximum credit you are allowed to use e.g. on credit card)
  • When you opened and closed the account
  • Names of any other people who applied with you (joint credit) 

2. Information about how you have paid for any credit you have held over the past 2 years including:

  • The repayment amount 
  • When payments were due 
  • When payments were made 
  • Whether payments were made by the due date 
  • How often you paid
  • Missed payments if not made within 14 days of the due date and when you made the payment if paid

3. Financial hardship applications are noted on your credit report (since July 2022). However, creditors (lenders) are not allowed to use this information to discriminate against you when you apply for credit.

Reporting debt to credit reporting agencies

Non-payment of a debt is called a default, so that the creditor may report a default to a credit reporting agency. Generally this is done so that the credit can recoup the debt at some stage, and to avoid risk to other creditors. This means that the default is listed on your credit file, shows in your credit report and makes getting credit harder. 

This can happen with ordinary bills that you don’t pay like utility and phone bills and also with loans and credit cards etc. 

The credit provider has to let you know that they are going to report this, so that you have a chance to pay or make an arrangement.

You will generally receive a default letter explaining the debt and your rights in relation to the default process.

A default can only be listed when:

  • The creditor cannot contact you 
  • It is over 60 days since the due date 
  • The amount owed is $150 or more
  • You have been asked to pay the debt either by phone or in writing (letter)

The default stays on your credit report and continues to affect new credit applications. 

The default remains on your credit file for:

  • 5 years 
  • 7 years when you are unable to be contacted (clearout)

Even if you pay the debt, the debt shows on your credit report along with the date that you paid it and hence can affect future credit applications or interest rates. 

Bankruptcy stays on your credit report and the National Personal Insolvency Index [NPII] forever. 

Creditors have to pay to access your credit report and the NPII.

Need help with Debt

If you have debt that you are struggling to manage, a free financial counsellor can assist you to work out the next steps, help you advocate to creditors and negotiate better outcomes on your behalf if needed. Visit our debt page for further information on where to access help.

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