How can I improve my credit report?

Equifax has some simple steps you can follow to help you keep your credit report healthy:

  1. Pay your loans and bills on time
    Consider setting up direct debits and schedule loan repayments for your pay day.
     
  2. Keep track of your credit commitments
    Do your homework before applying for credit and keep track of your credit commitments. Making a number of applications within a short space of time will be recorded on your file and is not always looked upon positively by lenders, as it may be an indicator that you're under financial stress.
     
  3. If you move house or update your contact details, notify lenders
    Advise lenders, phone and utility providers of your new email or physical address so they can re-direct bills to your new address. If you don't pay these bills, a default can be listed on your credit report.
     
  4. If you are having trouble meeting repayments
    Talk to your credit provider who may be able to assist.
     
  5. Keep track of your credit record
    Proactively manage your personal credit report by regularly checking your credit report. You can do this by checking the information held by credit reporting bodies in Australia, including by Equifax in your Equifax credit report. You are permitted to obtain your free credit report each year. Or another way to regularly check your credit report is to consider signing up to a monthly subscription and monitor changes to your credit profile through credit alerts.