Your credit report includes details about all of your loans and credit cards, including your punctuality in making repayments.
After changes earlier this year, all credit reports now include information on your repayment history. What many people don’t realise is that even a single missed payment for an amount as low as $150 can appear on your record if it is more than 60 days overdue.
These details can remain on your record for as long as 5 years, even after it has been paid.
The important thing to remember is that you can find out what is on your credit record, and it’s free.
This could be very handy if you plan on applying for credit in the near future, particularly if there is something on your record that is incorrect, as it gives you a chance to rectify the error before it causes you a problem.
You can request a copy of your credit record from any one of the main credit reporting agencies, and we’ve included links to each at the bottom of this article.
Your report will take a week or two to be received, but you can get one almost immediately for a fee.
In order to apply, you will need to provide your full name, current and previous address, date of birth and a copy of your passport or driver’s licence, along with an official document with your name and address on it, (such as a rates notice, bank statement or electricity bill).
Apparently the types of mistake that can crop up include having a debt listed twice, or an apparent default due to a processing error. If you find a mistake, the credit reporting agency that you obtain the record from can help you correct any mistakes.
To obtain a copy of your credit record, you can contact: