Privacy and credit reporting

Did you know that each year you have the right to obtain a copy of your credit report, for free?

Whilst most people have never checked their credit report, having a good credit rating is extremely important if you are looking to secure a home loan, sign up[ to a new credit card or even if you’re setting up a new mobile phone contract.

Some quick tips to help you with your credit rating:

  1. It seems obvious, but don’t forget to make your payments.  Set up a reminder, or an automatic payment to help ensure you don’t get caught out.
  2. Make sure that you update your address if you move – missed payments because bills have been sent to your old address can end up as a default on your credit report.
  3. Contact your credit provider as soon as you realise you may not be able to make a payment on time.  Many credit providers will work with you if you are struggling with repayments.
  4. Make sure you fill out application forms for credit properly – much of what is contained in your credit report is actually information provided by you!

For more information, contact our Privacy team or head to OAIC – Credit Reporting or Credit Smart.