Don’t panic – Follow these 3 steps

Understanding your Equifax Score helps give you confidence when applying for credit. Your Equifax Score is a credit rating between 0-1200 that lenders can look at when deciding whether to accept your application for a loan or credit.

Find out what the introduction of Comprehensive Credit Reporting means for you and your credit report.

Here are some tips on how to keep your credit report as healthy as possible under the new comprehensive reporting system.

Chris lived in a share house four years ago and when he moved out he didn’t take his name off the phone account and his former housemates did not pay a bill. As a result he ended up with a default on his report.

From 12 March 2014 additional information was permitted to be collected, held and disclosed by credit bureaus.

The new comprehensive credit reporting system gives Australians more power to demonstrate credit worthiness and manage their credit profile.

The Privacy Act 1988 (the Act), which is the legislation governing consumer credit reporting in Australia, has been amended to introduce comprehensive credit reporting.

The new data allowed under comprehensive credit reporting is now appearing on many credit reports.

To find out more about the changes to the way information appears on your credit report please view our common questions.

You can view a sample My Credit File report.

Many credit providers rely on business credit reports to aid their decision making when assessing applications for credit.