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Category: Credit Reports

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.  This is because multiple credit applications are often a sign someone is under financial stress.

3. If you move house or update your contact details, notify lenders
If you move or change your email address, make sure to update your contact details with any businesses that send you bills. If you don’t receive bills and don’t pay them, you could end up with defaults listed on your Credit Report. 

4. Let credit providers know if you’re in financial difficulty
If you contact them, they will often be willing to come to some arrangement with you. But if you fail to make your repayments with no explanation, you’ll probably end up with a default on your Credit Record.

5. Keep track of your credit record
Proactively manage your personal credit profile 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’re entitled to a free Credit Report once a year and whenever you have an application for credit denied. You also have the option of signing up to a monthly subscription with Equifax, which will entitle to regular credit reports, along with other tools that will allow you to monitor your creditworthiness.

Category: Credit Reports

We will create an Equifax Credit Report on you when we first receive information about you. A credit report is generally established when you make your first application for credit. This could be when you apply for a post-paid mobile phone contract, utilities account such as electricity, gas or water, an internet or Pay TV service, credit card or store finance.

To establish your own credit report, the application needs to be in your name and at your current residential address.

A credit report could also be established if you are a business director and we receive this information from ASIC or default judgement information is collected by us from the court system.

Category: Credit Reports

Most people think of credit cards, personal loans or mortgages when credit is mentioned but there are also less obvious forms of credit. Any business that provides payment terms of at least seven days can be a credit provider. Utility companies and telecommunication providers are often credit providers. So are retailers that offer ‘buy now, pay later’ deals.

Even if you’ve never had a credit card, or paid off a mobile phone in instalments, or had an account with a utility provider, you might still have a credit report. If you’ve rented a TV, or gone guarantor for a loan or been a company director, you will probably have a credit report.

Any business that provides a good or service up front and gets paid for it more than a week later is entitled to access your credit record (as long as you’ve put in a request for them to provide you with something on credit).

Category: Credit Reports

There are several reasons why you may not have a credit history, such as:

  • You’ve never applied for credit

  • You were in a relationship where the loans and bills were all in your partner’s name

  • You haven’t applied for credit for a long time. In this case you will still have a Credit Report, but it will have no credit history information. (This information is usually deleted once it’s more than five years old.) 

 

Younger and older Australians, as well as divorcees and recent migrants to Australia, are more likely to have no credit history or a ‘thin’ credit history.

Even if you don't have a credit history, you can still apply for credit. However, the potential credit provider will have to use sources of information other than a credit report to determine your creditworthiness.

You don’t need to get a credit card to establish a credit history. Other forms of credit like a post-paid mobile phone or electricity contract will also kick start your Credit Report.

Category: Credit Reports

Most people at one time in their lives will use credit. Credit can help you to get the things you want without having to pay the full amount up front. Put simply, credit is where you obtain goods or services and get to enjoy the benefit immediately and pay for them in the future.

Items commonly bought on credit include houses, cars, household goods and holidays. Credit also includes ‘buy now pay later’ retail finance and credit contracts where you get the good or service now and pay it off over time. (For instance, a mobile phone you pay off over 18 months.)    

Credit is defined in the Privacy Act as a contract, arrangement or understanding under which
a) Payment of a debt owed by one person to another person is deferred; or
b) One person incurs a debt to another person and defers the payment of the debt.
 

Category: Credit Reports

When you apply for credit from a financial institution, or sign a contract that permits you to delay payment for goods or services, the organisation providing the credit wants to be confident you will pay back what you owe. Past behaviour is a strong predictor of future behaviour. So, if you’ve paid your bills and made your loan repayments in the past, the organisation will be reassured that you are likely to continue to do so in the future.

Credit reporting agencies (such as Equifax) keep track of whether you pay your bills and repay your debts, compiling this information into a credit report. When you apply for credit, the potential credit provider will typically review your Credit Report before deciding whether to extend credit to you. Depending on their lending criteria, the credit provider will place less or more weight on your Credit Report, but it usually has a significant impact on whether your credit application is approved or denied. 

Credit reports encourage responsible lending. That is, they play an important role in ensuring credit is only provided to those who are likely to be able to repay it.

As a credit reporting body, Equifax is one of the leading custodians of Australians' credit information.

See below for two examples of how credit reporting can work in the real world
 

New credit application
Sue applies for a personal loan with ABC Bank by completing a form online. The form has terms and conditions advising Sue that a credit check will be conducted and that her information can be passed on to a credit reporting body.

When assessing Sue's application for credit, ABC Bank takes into account information on the form, any other information they may have (like if she is an existing customer), and also requests a credit check from Equifax (or another credit reporting body in Australia). As part of this check, some information from the application is passed on to Equifax, such as Sue's name, address, employment details and the credit enquiry information. In response, Equifax will supply ABC Bank with all or part of Sue’s Credit Report and, in most cases, her Credit Score as well.

ABC Bank then makes a decision based on all the information they have about Sue's application for credit. Each credit provider will make their own credit assessment decision. While legislation determines the information a credit reporting body can pass on to credit providers, credit providers decide how to use it and what analysis to apply.  A credit provider can use a credit report as part of the information they review to help make a decision on whether to extend credit to you. They may also look at the information you include on your application form as well as any other information they may have on you as a customer, and include all this information when making a decision based on their own lending criteria. Therefore information from one lender may mean a loan application is rejected, whereas another will accept it. 
 

Default listing
Sue also has a mobile phone contract with the telco ABC Phone Company, and she has missed a number of payments. Despite ABC Phone Company contacting her, she has not paid her outstanding bills.

The phone company decides to list a default for non-payment (this is outlined in the terms and conditions of her account), which is legal because the amount is in excess of $150. This payment default information is provided to Equifax and other credit reporting bodies.

Next time Sue applies for credit, any credit provider who conducts a credit check with Equifax, or another credit reporting body, will be able to see this default information on her Credit Report.
 

Category: Credit Reports

A credit reporting body (CRB), often referred to as a credit bureau or credit reporting agency, is an organisation that collects and sells credit information. In Australia CRBs are governed by the Privacy Act. This Act sets out the rules about what information can be collected about you and included in your Credit Report, as well as who can access your Credit Report. Credit reporting information encourages responsible lending by helping ensure credit is only provided to those who are likely to repay it. There are four CRBs in Australia: Equifax, illion, Experian and Tasmania Collection Service.

CRBs are obligated to provide you with a copy of the information they have on you, including your Credit Report for free.

Each CRB, like Equifax, maintains their own set of consumer credit information based on data from credit providers, like banks, financial institutions, telecommunications and utilities companies and publicly available data.

Every CRB maintains its own consumer credit information based on data from credit providers, as well as publicly available data. (Credit providers such as banks, financial institutions, telecommunications businesses and utilities companies and publicly available data such as court writs and judgements relating to credit and bankruptcies.)

Learn more: CreditSmart helps explain credit reporting.

Category: Credit Reports

The short answer is that Equifax can only give your Credit Report to a select range of organisations that have a legitimate interest in your creditworthiness.

The longer answer is that access to your Credit Report is governed by the Privacy Act. This Act, specifically its ‘Australian Privacy Principles’ and Part IIIA on Credir reporting, lays out strict conditions around what organisations are permitted to request a Credit Report from credit reporting bodies (such as Equifax).

Equifax can only supply your Credit Report, or information on it, to:

  • A credit provider

  • A mortgage broker

  • A trade insurer

  • Your agent (for example, a broker, financial counsellor, debt management company or credit repair agency you’ve employed)

     

You may have commercial credit and public record information on your Credit Report. If this is the case, and certain requirements are met, this information can be supplied to:

  • Organisations involved in commercial-credit-related activities. (For instance, if an organisation you are a director of applies for credit, the potential credit provider can access the commercial credit and public record information on your Credit Report.)

  • Organisations that collect commercial credit debts

  • Organisations that require this information for financial or credit-risk-related purposes

Category: Credit Reports

No. Employers cannot request your Credit Report from credit reporting bodies (such as Equifax). Your actual or potential employer can ask you to provide them with a copy of your Credit Report, but it is up to you whether you choose to do so. (It’s not common for employers to ask current or prospective employees for their Credit Reports. But this does happen, especially if your creditworthiness could impact your suitability to work for a particular organisation, or in a particular role.)

Category: Credit Reports

A notation will be added on your Credit Report whenever your Credit File is disclosed. This will be listed on your Credit Report as either an ‘enquiry’ or as a ‘file access’.

Category: Credit Reports

As a general rule, you can have information removed from your Credit Report if it is found to be incorrect, misleading, incomplete or out of date.

Some specific situations when you can ask to have information deleted from your file are:

  • When a default listed on your Credit Report has subsequently become statute barred (i.e. the debt you defaulted on is no longer legally enforceable because a specified period of time has elapsed)

  • When you have entered into a new arrangement with a credit provider following a default

  • When a default was listed on your Credit Report as a result of circumstances outside of your control, such as a bank error

 

Equifax will investigate and remove the default information, in this insrance, if the debt has become statute barred or the listing was a result of unavoidable circumstances and you have entered into a new arrangement with the credit provider.

Learn more in the Corrections section of the Equifax Help Centre

Category: Credit Reports

If you believe there is incorrect or incomplete information on your Equifax Credit Report, it is important that you get this corrected. The information used to generate an Equifax credit report is provided to Equifax by credit providers. A wide range of businesses provide their customers with credit of some type and these businesses do sometimes give Equifax inaccurate or incomplete information. 

The best way to correct information on a credit report is to speak directly with the credit provider that the error relates to and ask that it be investigated and your credit report amended. We have a handy list of contact details for creditor providers or you can use the Equifax Corrections Portal.

Category: Credit Reports

If you review your Equifax Credit Report and find an enquiry from a credit provider you have not applied for credit with it is important to have it investigated. You can contact the credit provider (or Equifax) and ask them to investigate (you won’t have to pay any fees or charges if you do this). The credit enquiry may have been put on your Equifax Credit Report in error or it may be someone trying to fraudulently apply for credit in your name.

Learn more about fixing your Credit Report in the Corrections section of the Equifax Help Centre. 

Category: Credit Reports

A credit report is a record of your credit history. It may include information on applications for credit that you have made in the past as well as information relating to your history of repaying credit card debts, personal loans and mortgages (including modified repayment arrangements due to hardship). Your credit report may also include publicly available information, such as court writs and judgements related to bankruptcies, personal insolvencies and debt agreements.

Credit reports are available to all consumers who have a credit history. These reports are built using information provided by credit providers as well as public record information.

You can get a copy of your Free Credit Report here or you may consider our monthly subscriptions which include Credit Scores and Alerts. 

Category: Credit Reports

They are essentially the same thing. Your Credit File is information about your credit activity that is held by a credit reporting body (such as Equifax). When you ask to see your Credit File, the document that is sent to you is usually referred to as a credit report. To put it another way, your Credit Report is an extract of the information held on your Credit File.

Category: Credit Reports

In your Credit Report you will find information about your history with credit. Your Credit Report is divided into a number of sections:

1. Personal information / identity details
This includes information like your name, date of birth and names you may be also known as. It also includes your driver’s licence number, as well as a list of places you have worked and addresses where you have lived or operated a business from.

2. Consumer credit information
The consumer credit information section includes:

Details of credit enquiries that have been made on you by a credit provider when you have made an application for consumer credit. Consumer credit relates to loans for household or family purposes as well as for the purchase, renovation or re-financing of a residential investment property. Well-known types of credit include credit cards, mortgages, personal loans, car loans and credit contracts. (Credit contracts are typically used by businesses – such as utility providers and telecommunications companies – that provide a good or service upfront and get paid for it at a later date.) The ‘buy now pay later’ store finance and store cards many retailers offer are also a type of credit.

Consumer credit liability accounts – this may be an account that you currently have open or have had open in the past. Your Credit Report may include information about the type of consumer credit liability account you had or have, as well as its credit limit and open and/or close date. Please note that not all credit providers supply consumer credit liability information to credit reporting bodies (such as Equifax).

Monthly repayment history on credit accounts such as mortgages, personal loans and credit cards. This reflects whether you have paid the minimum amount required on time each month or not. It will also include information on any defaults or financial hardship arrangements in relation to your accounts. Please note that not all credit providers supply repayment history information to credit reporting bodies (such as Equifax).

Overdue accounts such as defaults, new arrangements on your defaults as a result of financial hardship and serious credit infringements

Public record information like:

  • Court judgements

  • Directorship details

  • Proprietorship details

  • Bankruptcy, debt agreement and personal insolvency

 


3. Commercial credit information
This is information about credit enquiries that have been made on you for commercial credit. Common types of commercial credit are a work-mobile-phone contract, business loan and business credit card. It also includes details of any overdue commercial credit accounts and other debts.

4. File access information
This is information about third parties that have accessed your Credit Report. These third parties may include brokers, credit repair agencies and Equifax. (For instance, if you request a copy of your Credit Report from Equifax, the fact that Equifax has accessed your Credit File in order to provide your Credit Report will be noted.)

 

Get a copy of yoru Free Credit Report here or consider our monthly subscriptions which include Credit Scores and Alerts.

Category: Credit Reports

Once you have received a copy of your Equifax credit report it is important to review it carefully to make sure everything is correct. Below is a guide on what to look out for.

1. Personal/identity information – make sure that your name and personal details are correct. The address details will show the address you were living at when you last applied for credit, which may not be your current address. Please let Equifax know if your address is wrong or your name is misspelled or your date of birth is incorrect.

2. Your Equifax Credit Report contains a credit overview, which is a good place to start. This section gives you a snapshot of the number of credit enquiries made on you, any accounts – including overdue ones – you have and details of commercial credit you may have. (You can review the information in the credit overview in the main body of your Credit Report.) You should check that the credit information listed on your Equifax Credit Report is accurate.

3. If you come across anything that is inaccurate while reviewing your Equifax Credit Report, it is important that you have it investigated. (This is will be done at no cost to you). You can either contact the credit provider by referring to the a list creditor contacts here or contact Equifax using our corrections process.

Equifax takes reasonable steps to ensure that your credit report is accurate. However, as we rely on information provided by a number of different sources, errors can occasionally occur.

Learn more: CreditSmart provides some information about what to check in your credit report.

Category: Credit Reports

If you have applied for credit under more than one name (e.g. you have changed your name by Deed Poll or after you got married) there will probably be more than one credit file (aka credit report) for you on Equifax’s database. In these cases, Equifax keeps two separate files but creates a link between them. When you request a copy of your Equifax Credit Report you will also be provided with the credit reports in the other names that, to Equifax’s knowledge, you are “also known as”.

 

Category: Credit Reports

If you change your name, you’ll probably end up with two credit files (aka credit feports) – one in your old name and one in your new name. This is rarely a cause for concern, as Equifax has processes in place to link different credit files for the same individual. If you ask Equifax for your Credit Report, you will receive copies of the credit reports in your old and new names.

Category: Credit Reports

A credit enquiry may be added to your Credit Report when a lender conducts a credit check on you as part of an application for credit. It is listed on your Credit Report as a 'credit enquiry'.

A credit enquiry may include the date, the type of credit you have applied for (a personal loan, credit card, mortgage or phone contract), whether you are a sole or joint borrower (including acting as a guarantor for another loan), as well as the amount.

See below for an example of how a credit enquiry works in the real world.

David is buying a new car and he applies for a car loan with ABC Car Finance. David completes his application form and as part of the assessment on whether to accept his application, the credit provider conducts a credit enquiry.

As a result of this credit check, David's application for a car loan will be recorded on his Credit Report. It is important to note the application is recorded on David’s Credit Report – and that this information remains on his Credit Report for five years – no matter what happens. Even if David doesn’t proceed to take out a loan from ABC Car Finance, the fact he applied for one remains on his Credit Report and may affect his Credit Score.

Category: Credit Reports

The type of credit applied for, the amount of credit and the number of credit enquiries over a period of time can all have an impact on your Credit Report.

Many people are unaware that shopping around can negative consequences where credit is concerned. If you make several credit applications in a short space of time, this may be seen as a sign you are in financial difficulty and have a negative impact on your Credit Report and Credit Score.

Did you know....? Many applications in a short space of time can be an indicator of credit stress.

Category: Credit Reports

As the name suggests, your repayment history is a record of when you have paid your minimum monthly repayments on your credit cards and loans. Whether you meet your minimum monthly repayments on your credit card and loans each month can be recorded on your Credit Report as repayment history. The repayment history information section of a credit report includes whether your minimum monthly repayments have been made on time or how many days overdue the payment is.

There is a 14-day grace period before an overdue monthly payment can be reported by a credit provider and included as part of the repayment history section of your Credit Report

Regularly making your minimum repayments on time each month is a good way to demonstrate good credit behaviour. While one late repayment, depending upon how late the payment is, is unlikely to significantly impact your credit worthiness, a number of late payments could be an indication you are in financial stress and may negatively impact your Credit Report.

Repayment history information is recorded on your Credit Report for a period of two years.

From 1 July 2022, we will also display hardship flags for applicable accounts under the Accounts, Repayment History and Financial Hardship Information section of the credit report, including the following:

Temporary relief / deferral Financial Hardship Arrangement (FHA)
Payment obligations are temporarily reduced or deferred as a result of a financial hardship Variation Financial Hardship Arrangement (FHA).

Variation Financial Hardship Arrangement (VHA)
A variation made to the terms or conditions as a result of a financial hardship arrangement. The repayment history will be measured against the new payment going forward.

Category: Credit Reports

A default is also known as an overdue debt. There are two types of defaults; consumer and commercial payment defaults.

Consumer payment default
A consumer payment default can be reported by a credit provider and listed on your Credit Report. This can only occur if you have an overdue debt of equal to, or more than, $150 that is more than 60 days overdue. For example, if you have a mobile phone bill of over $150 and it was due more than 60 days ago, your phone company can have it listed on your Credit Report as a payment default.

Before reporting a consumer default, the credit provider must take a number of steps. In particular, it must send two separate written notices to your last known address. The first notice will be a final request for payment and the second will be a warning that the overdue payment will soon be listed with a credit reporting body (such as Equifax).


Commercial payment defaults
In the case of commercial credit, the minimum default amount is $100. Before listing commercial defaults or overdue debts, commercial credit providers (or their agents) must send a notice to your last known address stating their intention to list the default amount with a credit reporting body (such as Equifax).

Potential credit providers may look unfavourably on applicants with a history of overdue accounts. If you want to maintain your creditworthiness, it’s a good idea to avoid defaults getting onto your Credit Report. To do this, make your repayments and pay your bills on or before the due date.

Both consumer and commercial payment defaults may stay on your credit report for five years, even when you have paid the entire overdue amount. When you have paid a default, the status is updated to ‘paid’ which can be looked upon more favourably by lenders but it will remain as part of your credit history.

If there is a new arrangement in place that is wholly and partially related to any of your defaults, this will also be displayed in the Overdue Accounts section of your credit report.

Learn more: CreditSmart and MoneySmart have information to help you understand defaults.

Category: Credit Reports

Comprehensive credit reporting (CCR) means there is more ‘positive’ information that can be included on consumers’ credit reports. This provides a more detailed picture of an individual’s credit history and creditworthiness. CCR refers to the type of consumer credit information that can be collected by credit reporting bodies (CRBs) and can be used by credit providers when making a lending decision. The positive CCR data that can be included on credit reports includes:

  • Your account information, such as the type of accounts you have and the dates they were opened and closed

  • Your credit limits

  • Your repayment history for the past 24 months. (Only licenced credit providers can contribute to or review this repayment history.

  • Any defaults or financial hardship repayment arrangements in relation to your accounts

Previously Australia had a negative reporting system. This meant consumer credit reports could only contain information such as credit enquiries (typically applications for credit) and information from credit providers such as payment defaults and serious credit infringements. Most advanced economies in the world operate under a comprehensive credit reporting system.

CCR was introduced to Australia in 2014. (The Privacy Act 1988, which is the legislation governing consumer credit reporting in Australia, was amended to facilitate CCR.)

While CCR was introduced in 2014, limited CCR information was supplied to credit reporting bodies (such as Equifax) in the following years. In 2018, the amount of CCR information being supplied to credit reporting bodies increased dramatically as a result of Australia’s Big Four banks being required to adopt CCR reporting. 

Category: Credit Reports

Among other things, a serious credit infringement relates to overdue consumer debts where a person owes a debt to a credit provider but has left, or appears to have left, their last known address without paying that debt and without providing the credit provider with their new or forwarding address. A serious credit infringement can be listed on a credit report in this case if the person has not had contact with the credit provider for six months or more despite attempts by the credit provider to contact them.

Serious credit infringements on consumer credit remain on a credit report for seven years from the date they're listed. However, if they have been paid they revert back to a default and will remain on the credit report for five years. The fact that an amount has become overdue and then been paid still remains part of your credit history.

Category: Credit Reports

This all depends on the type of data. Personal identity information including your name, date of birth, gender, driver’s licence and address history is held for the life of the credit report. For other information on your Credit Report, here are some of the typical timeframes.

One year
Financial hardship repayment arrangements

Two years
Repayment history information

Five years
Any credit enquiry
Overdue accounts listed as a payment default
Overdue accounts listed as clearouts
Writs and summons
Court judgments

Seven years
Serious credit infringements

For some information the timeframe will vary.

Information about consumer credit accounts you have with credit providers is known as consumer credit liability information.  This consumer credit liability information can be held for two years after the account has been terminated or ceases to exist. This means that the account information will remain on file for the length of the loan plus two years. 

Similarly, if you are bankrupt or have a personal insolvency agreement or debt agreement the length of time this information remains on your Credit Report could vary depending on when the bankruptcy, debt agreement or personal insolvency agreement was entered into and when it ends.

Category: Credit Reports

There is no set frequency with which your Equifax Credit Report is updated.

Your Equifax Credit Report may be updated on a monthly basis with, for instance, information about whether you made the monthly minimum repayment on your credit card on time. It will also be updated if a credit provider lists an overdue debt you’ve incurred. Your Credit Report may also be updated whenever you apply for credit, open or close an account, change your credit limit, or agree to act as a guarantor. When Equifax receives publicly available information, such as default judgments, court writs and Bankruptcy Act information, this will also update your Credit Report.

Your Equifax Business Credit Report may be updated whenever you apply for business credit, change your credit limit or are listed as a new director. Credit providers may also update your report when they list any overdue debts you may have incurred and we may also add certain information obtained from third parties, such as default judgments, court writs and Bankruptcy Act information.

Category: Credit Reports

Free Credit Reports from Equifax do not include a Credit Score. This is because your Credit Score is generated using Equifax's proprietary algorithms. There are a range of monthly subscription products that you may wish to consider which includes Credit Scores and Alerts, as well as other useful tools and information. 

Category: Credit Reports

No, checking your own Equifax Credit Report does not impact your Equifax Credit Score. When you check your Equifax Credit Report, you will have a File Access note added to it but this does not impact your Equifax Credit Score.

Learn more: Both CreditSmart and the Australian Government's MoneySmart have useful information about credit reports.

Category: Credit Reports

It can affect your Credit Report if the phone bill is in your name. If a bill payment is missed you should contact your telecommunications provider immediately and talk to them about the situation rather than hoping an overdue debt won’t be listed on your Credit Report.

Category: Credit Reports

It is unlikely that your friend can just assume the loan as that loan will still be in your name. It is also very risky to do that. If your friend fails to keep making the repayments on time, it’s your Credit Report that will be negatively impacted and you will be held liable for that loan. Be warned, having a default listed on your Credit Report will make it harder for you to get credit. In this situation, it is always best practice to pay off your car loan and have your friend arrange their own loan. 

Category: Credit Reports

There’s no getting around the fact that having a default listed on your Credit Report is a negative. However, it doesn’t mean you’re destined to have a bad Credit Report for life.

Firstly, your default can only remain on your Credit Report for a maximum of five years. Secondly, while you can’t have a default erased from your Credit Report, if you do eventually pay off the money you owe ­– or even just make arrangements to do so – this information will also be recorded on your Credit Report. Finally, if you are now in the habit of making your loan and credit card repayments on time, this can help lessen the damage done by having defaulted in the past.

We have also added further details in relation to your defaults, in particular, where a new arrangement is in place. A new arrangement is either:

  • New consumer credit provided that relates, wholly or in part, to this amount of credit.
  • Varied terms or conditions of the original consumer credit that relate to the repayment of the amount of the credit.

Category: Credit Reports

Accessing your Equifax Credit Report is easy, and it is free. You can request your credit report from Equifax in the following ways:

  • Order online on our website

  • Call us on 13 8332 and follow the prompt

  • Mail your request to us at PO Box 964, NORTH SYDNEY NSW 2059

Free Equifax Credit Reports are delivered within one business day, provided we are able to verify your identity.

 

You are entitled to a free Credit Report from Equifax once every three months or in the following situations:

  • You’ve been denied credit. In this case you need to make your request for a free Credit Report within 90 days from the date your application was declined.

  • You have submitted a correction request and are advised that the information on your Credit Report has been corrected.

 

When applying for your free Equifax credit report it is a good idea to have the following information at your fingertips:

  • Your full name

  • Your date of birth

  • Your driver's licence number

  • Your current residential address

  • Your previous addresses

  • Your current employer or a previous employer

  • Name of the organisation to which you last applied for credit

 

Only you can request a copy of your Equifax Credit Report (you can’t have your partner or a family member do it). For security reasons, you will be asked to verify your identity prior to receiving a copy of your Credit Report.

Equifax also offers a range of subscription plans where you can get your Equifax Credit Report, Equifax Credit Score and features such as credit and identity monitoring.

Category: Corrections

Credit repair companies claim they can fix your Credit Report or clear your credit history. Equifax urges Australians to be careful of such companies. They claim, not always credibly, to be able to remove negative information from people’s Credit Reports. The charge for this is often over $1,000. 

Category: Corrections

Equifax urges Australians to be wary of 'credit repair' style organisations. In particular, you should think twice before paying for the services of a company that claims they can repair your Credit Report.

Category: Corrections

Yes, in some circumstances you can. If you believe inaccurate information has been put in your Credit Report, you can ask the credit provider who supplied that information, or the credit reporting body that received it to investigate. Such investigations are free and if the disputed information is found to be inaccurate or incomplete, it will be deleted or modified. If you are unsatisfied with the response of the credit provider or credit reporting body, you can also seek advice from a community legal service or financial counsellor. Organisations such as National Debt Helpline and Good Shepherd provide assistance at no or minimal cost.

In addition, if you are dissatisfied with the outcome of an investigation by the credit provider or credit reporting body, you can utilise the services of the Australian Financial Complaints Authority (AFCA). ACFA provides free services to Australian consumers.

For more information on the Equifax complaints process please visit our Complaints section in the Help Centre.

Need more information?
ASIC MoneySmart also provides information on credit repair and financial counselling.
CreditSmart warns consumers to beware of credit repair companies and also provides information on legal advice.

Category: Corrections

If you believe there is incorrect or incomplete information on your Equifax credit report, it is important that you get this corrected.

The information used to generate a credit report is provided by credit providers, such as include banks, financial institutions, telecommunications companies and utility providers, to Equifax. The quickest way to have information corrected on your Equifax Credit Report is to speak directly with the credit provider that provided the information. You should ask them to investigate and amend your Credit Report if they have made a mistake. Equifax has a handy list of common creditor contacts. You can also visit the Equifax Corrections Portal to request Equifax conduct an investigation and amend your Credit Report if the information on it is inaccurate. 

Category: Corrections

Once we receive your correction request, we will provide you with written confirmation that it has been received. Our Customer Resolutions team will investigate your request within 30 days and provide a response to you in writing. We may, however, notify you that there is a delay and seek to extend this time if we have not concluded our investigation.

Category: Corrections

Read through the following steps to submit a correction to your Equifax Credit Report.

1. Firstly, you need to submit a request to us via our Corrections Portal

2. Once we receive your request, we will provide you with written confirmation that it has been received. If all the relevant information is provided, Equifax may be able to make the necessary amendment straight away. For example, Equifax could update a default to ‘paid’

3. If necessary, Equifax will contact the credit provider on your behalf to have them verify the accuracy, or otherwise, of the correction request.

4. Equifax will then review the information given by the credit provider and make any amendments, if any, to the entry/entries on your Equifax Credit Report

5. Equifax finalises the investigation

Some important information to know
Equifax will notify you in writing what the result of our investigation is. Where appropriate, Equifax will send you a letter notifying you that your Credit Report has been corrected. Equifax will also issue you with an updated copy of your Equifax Credit Report so you can see what has changed.

If a correction is made to your Credit Report, Equifax will identify the organisations to which it has disclosed your Credit Report in the three months prior to it being corrected. It will then notify these organisations of the substance of the correction in accordance with Equifax's obligations under the Credit Reporting Code. Equifax will do this automatically at the time the correction is made.

If a correction is not made, Equifax will write to you setting out in detail the outcome of its investigation and why the requested correction has not been made. In the case of consumer credit information, Equifax will also send you a 'What You Need to Know' document. This sets out your rights under the Privacy Act 1988 and outlines the further steps you can take if you are unhappy with the outcome of the investigation by Equifax.

Once we receive your correction request, we will provide you with written confirmation that it has been received. Our Customer Resolutions team will investigate your request within 30 days and provide a response to you in writing. We may, however, notify you that there is a delay and seek to extend this time if we have not concluded our investigation.

Category: Corrections

If you would like to submit a correction request with Equifax it is important that you have the following information ready before you start.

The information required to submit a correction request can be found on your free Equifax credit report:

  • The PAS or Credit file number on your Equifax Credit Report. (This isn’t mandatory but will it easier for Equifax to identify you)
  • Your personal details, such as your name, date of birth, place of birth, driver’s licence number, employment details, current and previous residential addresses, email address and phone number(s)
  • Specific details of the entries on your Equifax Credit Report that you are disputing. Please let Equifax know the date the entry was listed on your report, the account/reference numbers it related to and the amount of money that was involved. If you can supply these details

Category: Corrections

Online:
Submit your request through our online Corrections Portal.

Post:
Submit your request by mail by sending it to:

Equifax – Public Access
Equifax Australia Information Services and Solutions Pty Limited
GPO Box 964
NORTH SYDNEY NSW 2059

Please include the following identification information:

  • Name

  • Date of Birth

  • Current Address

  • Previous address

  • Driver’s license

  • Current Employment

 

You will also need to provide details of the correction required. Please include:

  • The details of the entry being disputed, in particular any relevant account reference numbers and the name of the credit provider who listed the entry you are disputing

  • The reason for disputing the entry

  • Any relevant documentation

Category: Corrections

You can check the status of a correction request by logging in to our Corrections Portal.

Category: Corrections

If you are unhappy with the outcome of Equifax’s investigation or would like to make a complaint, please contact our Internal Dispute Resolutions (IDR) team by sending an email to customercomplaintsAU@equifax.com. Make sure that you sufficiently detail your matter and include your full name, contact details, any reference numbers and relevant supporting documentation. Our IDR team will investigate your matter and contact you to attempt to resolve the matter directly. 

We want to do everything we can to resolve your matter, so it's important that you raise it with our IDR team prior to having your matter addressed externally. Raising your matter with Equifax directly will often result in a quicker resolution.  

If you are still not satisfied with our response, you can contact the Australian Financial Complaints Authority. (Please note that AFCA will likely encourage you to try to resolve your issue with Equifax first before they get involved in investigating your complaint.) 

Australian Financial Complaints Authority
Website: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678
Address: GPO Box 3, Melbourne, VIC 3001
 

When contacting AFCA, we suggest you include the following: 

  • A detailed timeline of events

  • Copies of any correspondence, such as emails, you've had with the credit provider and Equifax's Customer Resolutions Team

  • As well as contacting AFCA, you can also make a complaint to the Office of the Australian Information Commissioner (OAIC)

Category: Corrections

Office of the Australian Information Commissioner
Website: oaic.gov.au
Email: enquiries@oaic.gov.au
Phone: 1300 363 992 
Address: GPO Box 5218, Sydney, NSW 2001

Category: Corrections

If you've been rejected on a loan application due to an item on your Credit Report or believe there is something incorrect you firstly need to get a copy of your Equifax Credit Report.

You can get your Equifax Credit Report for free or you can subscribe to one of our Equifax subscription packages which will enable you to monitor and track your Equifax Credit Report and Equifax Credit Score over time.

Once you have your Equifax Credit Report, you’ll need to review the items and check the personal identity information is correct. After that, please review the details of your credit enquiries and defaults, if there are any. If you find credit enquiries or defaults that you do not recognise, or were unaware of, on your Credit Report, it is important to have these entries on your Credit Report investigated.

To start a correction investigation, you’ll need the details of the entry on your Equifax Credit Report that want to dispute. In particular, please note down the date the entry was listed on your Equifax Credit Report, the account/reference numbers it related to and the amount of money involved.

To ensure a smooth process you will need to ensure you have the details of these disputed entries items on your Equifax Credit Report before proceeding with the submission of a correction request.

The information used to generate your Equifax Credit Report is supplied to Equifax by credit providers. Banks, phone companies and utility providers are some of the most common credit providers in Australia.

The best way to correct information on a credit report is to speak directly with the credit provider that the error relates to, and ask that it be investigated and your credit report amended. Equifax also offers a free service to help your correct your credit report using our Corrections Portal.
 

Category: Denied Credit

If you’ve been denied on an application by a credit provider and they advised that information on your Equifax Credit Report was a factor the first thing to do is to get a free copy of your Equifax Credit Report.

If you have been declined credit, you are entitled obtain a free Equifax Credit Report if you apply within 90 days of being declined.

Once you have a copy of your Equifax Credit Report you can better understand what information may have contributed to your application refusal.

Category: Denied Credit

There are a number of reasons why a credit provider may reject an application for credit.

Each credit provider has their own lending criteria and these are the basis for their credit decisions. Your loan may have been rejected because:

  • The credit provider may be concerned that you will not be able to keep up with the repayments based on your income and current debts and financial obligations
     

  • The amount of money in your savings account/s is not enough to prove that you will be able to meet the loan repayments
     

  • The credit provider has checked your credit report and found that you have a default or other negative information
     

  • Your employment history. If you are unemployed, change jobs frequently or are working your way through a probationary period, you may not be able to demonstrate you can service your loan
     

  • Residential situation. Moving house on a regular basis can be a potential reason for a credit application refusal

 

Make sure you obtain a free copy of your Equifax Credit Report or you may consider subscription plans that include Credit Alerts and Credit Scores that can help you manage your credit profile.

Category: Denied Credit

When you apply for credit, your Credit Report can be an important piece of information. Credit providers may use it, along with the information on your application form and their own lending criteria, to help them get a clear picture of your credit commitments and how likely you are to be able to make repayments on future credit.

Credit providers can include banks, financial institutions, phone and utility (electricity, gas and water) companies.

Your Credit Report may be considered as part of the information that can be used to determine whether you are approved for a particular credit card, loan, mortgage or service, and on what terms.

Category: Denied Credit

If you have been denied credit it is best not to apply for credit again until you find out why. There are a number of factors that may result in an application for credit being refused including:

  • Not having either a high enough income or sufficient savings to meet the repayments

  • The number of other loans and other financial commitments you have

  • How secure your employment is

  • What’s on your Credit Report, in particular entries for previous bankruptcy, defaults, serious credit infringements, a high number of credit applications or a poor repayment history

 

If you have been declined credit and the information on your Credit Report was a factor, the lender, phone or utility company will give you details of the credit reporting body they used.

If it was Equifax, the first step in understanding why your Equifax Credit Report has contributed to you being declined credit, is to obtain a free copy of your Equifax Credit Report. If you have been declined credit you are entitled obtain a free credit report if you apply within 90 days of being declined and provide evidence that a credit provider has declined your application for credit.

By getting a copy of your Equifax Credit Report you can better understand what information may have contributed to your application refusal. It is important to check your Equifax Credit Report regularly to ensure it is accurate. You may also consider subscription plans from Equifax that provide additional features such as Credit Alerts and Credit Scores that can help you manage your credit profile.

Learn more: CreditSmart helps explain what to do when you can’t get a loan.
 

Category: Denied Credit

Each time you apply for credit and a credit provider obtains a copy of your Credit Report, a credit enquiry is added to your Credit Report. Lenders and credit providers view negatively a relatively high number of enquiries made in a short space of time, as it is a potential sign of credit stress. This may in turn affect your ability to obtain credit.

However, the number of enquiries recorded on your credit report is just one piece of information a lender may consider when assessing your application for credit. Lenders look at a variety of information. For example, if you are an existing customer of the credit provider, it may take into account whether you have paid your bills (or made your loan repayments) on time.

Category: Denied Credit

Repayment history information, such as whether you make your credit card and loan repayments on time as well as any variation of repayment arrangements as a result of financial hardship will usually be recorded on your Credit Report. One late repayment – depending upon how late it was – probably won’t significantly impact your creditworthiness. But several late payments can indicate you are in financial stress and may make credit providers wary of providing credit to you.  

Because they are not licenced credit providers, telecommunication companies and utility providers can’t list information on your Credit Report unless you are 60 days or more overdue with a payment. 

Category: Denied Credit

Under the Privacy Act 1988, an overdue debt or default can only be listed on your Credit Report if it is overdue by 60 days or more and totals $150 or more. Defaults are viewed negatively by credit providers and can impact your ability to get credit in the future.

If there is a new arrangement in place that is wholly and partially related to any of your defaults, this will also be displayed in the Overdue Accounts section of your credit report.

If you have had a default in the past but have paid it and established a good repayment history, a lender may view your Credit Report more favourably. This is one of the benefits of comprehensive credit reporting.

Category: Denied Credit

If you have an overdue debt, where you have left or appear to have left your last known address, it can be listed as a serious credit infringement. This information is viewed negatively by credit providers and can impact your ability to get credit in the future.

Category: Denied Credit

If you can’t meet your monthly loan repayments or financial commitments in relation to your phone or utilities contracts, it’s important that you act quickly.

Firstly, talk to your credit providers and find out if they’ve got procedures in place to help customers experiencing financial hardship. If you talk to them before you default, you may avoid having a default listed on your Credit Report.

If you need financial advice or legal counselling, there are a number of free services offered by community organisations, community legal centres and some government agencies that may be of help.

Category: Denied Credit

If you’ve been denied credit by one credit provider and you continue to make a number of applications, the resulting enquiries on your Credit Report can negatively affect your chances of obtaining credit in the future.

Under comprehensive credit reporting, information on when an account is open and closed can also be held on your Credit Report. This, together with your repayment history, can help lenders get a clearer picture on your credit obligations and can be taken into account in their assessment of a credit application you make.

If you’ve been refused credit, you have a right to obtain your Credit Report free of charge within 90 days of being declined credit.

Learn more: CreditSmart helps explain what to do when you can’t get a loan.

Category: Credit Scores

Equifax has some simple steps to help you keep your credit report healthy and improve your Equifax Credit Score:

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 in credit stress

3. If you move house or change your email address, notify lenders
If you don't advise, for instance, your phone company and utility providers of your new contact details, they won't be able to redirect bills to your new postal or email address. If you then don't pay these bills, a credit infringement or overdue debt could be listed on your Credit Report

4. If you are having trouble meeting repayments
Talk to your credit provider who may assist

5. Keep track of your credit record
Be proactive and check your Credit Report periodically. You can obtain a free credit report each year. You could also consider signing up to a monthly subscription to get your Equifax Credit Score and monitor changes on your Equifax Credit Report through credit alerts

Category: Credit Scores

Your Equifax Credit Score is impacted by the information contained on your Equifax Credit Report. There are a number of different factors which could impact your Equifax Credit Score.

  • The type of credit providers you’ve applied for credit with. Credit providers differ. Because of this, applying for a loan from a bank may impact your Equifax Credit Score differently to, for instance, taking out store finance from a retailer
     

  • The type of credit you’ve applied for. Just as credit providers differ, so do the types of credit they provide. Mortgages, credit cards, personal loans and store finance may carry different levels of risk and impact your Equifax Credit Score in different ways
     

  • The credit limit or size of the loan you’ve requested in your application. A smaller loan or credit card limit may carry a different level of risk to a larger loan
     

  • The number of credit applications you have made. Each time you apply for credit and a credit provider obtains a copy of your Credit Report, an enquiry is added to your Credit Report. Applications for credit can include loans, credit cards and applications for phone and utilities contracts. Even buy now pay later retail finance can result in a credit enquiry
     

  • The ‘shopping pattern’ of credit applications over time. The spread of activity over the credit report’s life to date can have an impact on your Equifax Credit Score. Shopping around for credit and applying to a number of different credit providers within a short space of time may negatively impact your Equifax Credit Score. This flags you as a greater risk than if you had infrequent credit applications with only a few credit providers. As well, a relatively new credit file with many enquiries may represent a different level of risk than an older file with only a few credit enquiries
     

  • Directorship and proprietorship information. If you are a company director or a proprietor and this information is listed on your credit report it may impact your Equifax Credit Score. If you are or have been a company director or proprietor, it's important to check the individual and commercial sections of your Equifax Credit Report
     

  • The age of your Credit Report. The date your Credit Report was created may impact your Equifax Credit Score. For example, a relatively new Credit Report may indicate a different level of risk than one that has been established for many years
     

  • Your personal details. Your Equifax Credit Score takes into consideration personal circumstances, such as age, as well as ‘stability factors’, such as how long you’ve been employed in your current position and how long you’ve resided at your current residential address, to help assess credit risk
     

  • Default information. Default information on your personal or business credit report, such as overdue debts, serious credit infringements or clearouts, may negatively impact your Equifax Credit Score. On the other hand, a lack of default information in your file may positively affect your score
     

  • Court writs and default judgements. A court writ or default judgement on a Credit Report is an indicator of increased risk and may negatively impact your Equifax Credit Score. On the other hand, if you don’t have this information it would indicate a reduced level of risk
     

  • Commercial address information. Information such as location and the length of time you have resided at your current business address is a measure of stability and may impact your Equifax Credit Score

Category: Credit Scores

Yes. Even if you don’t actually use the credit you’ve been given access to, your application for it will be recorded on your Equifax Credit Report. If you have a large number of credit applications on your Equifax Credit Report – or even just an above-average number of credit applications in a short space of time – this can lower your Equifax Credit Score.   

Category: Credit Scores

Not necessarily. If you’ve been late paying your debts in the past this information will remain on your Equifax Credit Report for up to five years and for a serious crime imfringement it will remain for seven years. Even if you’ve now paid off all your outstanding debts, your Equifax Credit Score will likely continue to be negatively impacted by your prior late payments or defaults. That noted, you can improve your Equifax Credit Score by always making your loan repayments and paying your bills on time.  

If you do have a default on your credit report you can help improve your credit profile by repaying credit accounts you have on time each month such as a personal loan or mortgage repayments or the minimum balance on your credit card. Please note that not all credit providers provide Equifax with repayment history information. 

Category: Credit Scores

No. Getting your Equifax Credit Report will not negatively impact your Equifax Credit Score. In fact, it may help you improve your Equifax Credit Score by helping you identify any errors or if your identity has been compromised.

Ordering a copy of your Equifax Credit Report may alert you to information on it that could be negatively impacting your Equifax Credit Score. For example, if you request and review your Equifax Credit Report, you may discover inaccurate information that, once corrected or deleted, will improve your Equifax Credit Score. 

If there is something incorrect on your Equifax Credit Report, find out how to fix it here.

If, after reviewing your Equifax Credit Report, you think your identity has been compromised, you should contact the relevant credit provider for more information and, if necessary, seek an investigation. You can also place a ban on your Equifax Credit Report. Find out more here.

Category: Credit Scores

An Equifax Credit Score is a summary of an individual’s credit information held by Equifax. It indicates how credit providers and finance/utility providers may view you when you apply for credit.  An Equifax Credit Score is derived from the information on an individual’s credit file at a specific point in time.

An Equifax Credit Score is one indicator of risk. A higher Equifax Credit Score indicates a lower credit risk. Your Equifax Credit Score is important. This is because it can be used by credit providers, such as banks and other lenders, to help determine whether to lend you money, how much money to lend you, and the terms and interest rate at which the money will be lent. Some lenders now offer special deals on personal loans and credit cards to individuals with impressive credit scores.

Your Equifax Credit Score is important as it can provide you with a better indication of how lenders may view you when you apply for credit.  Equifax Credit Scores may be used by credit providers, such as banks and other lenders to help them decide whether to lend you money and in some cases can even impact on how much they will lend you, the terms and rate that they offer you. 

Once you know your Equifax Credit Score, you can take steps to improve it if needed, so you can choose a credit provider who may reward your good behaviour with access to better finance deals over time

Your Equifax Credit Score can also be used by phone companies and utility providers to help them decide whether or not to accept your application for a post-paid mobile phone, electricity, gas or water contract.

It is important to note that an Equifax Credit Score is only one indicator that may be used by a credit provider when it is deciding whether or not to extend you credit. A higher Equifax Credit Score is considered better as it indicates lower risk. Credit providers can also use information on your credit application form, along with any other information they may have on you as an existing customer, against their own lending criteria and policies.

The way an Equifax Credit Score is used in practice by lenders may differ to the way it is displayed in the Equifax Credit and Identity portal. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not.

Category: Credit Scores

Different lenders and credit reporting bodies (CRBs) have different credit scores based on their own information and algorithms. A credit score is only as accurate as the information it is based on. A credit score based on minimal data could potentially lead to the wrong credit decision being made. Lenders may use one or more CRBs to help in their assessment.

As Australia’s leading credit information company, the Equifax Credit Score is calculated using information from the most comprehensive and current credit data source in Australia. The Equifax consumer bureau has more than 16 million active consumer credit files and is widely used among Australian lenders.

Category: Credit Scores

A Credit score is not the only piece of information a lender will look at when assessing your application for credit. The lender or credit provider may also look at whether you can afford to repay the loan based on your current income, savings and expenses and whether you have been making any current loan repayments on time.

You’ll also need to meet the lender’s internal criteria that assesses whether the lender considers you can afford to repay the loan. If you don’t meet a lender’s criteria, they may not approve the loan, no matter what your Credit Score is.
 

Category: Credit Scores

Your Equifax Credit Score is a summary of your credit information held by Equifax. Finance and Utility providers may take into account your Credit Score when you apply for credit. Your Credit Score is derived from information held on your Credit Report. Your Equifax Credit Score will be a number between 0-1200. In simple terms, the higher your Equifax Score, the better your credit profile and the lower a credit risk you are.

There are a number of key contributing factors that are taken into consideration when generating your Equifax Credit Score:

  • Type of credit provider. The type of credit provider making an enquiry on your Equifax Credit Report (that is the type of credit provider you’ve applied for credit with) may impact your Equifax Credit Score. For example, there may be different levels of risk associated with approaching a bank, store finance provider, hire-purchase and utility company for credit. What’s more, research shows that there’s a different level of risk associated with lenders in particular industries. For example, a non-traditional lender may have a different level of risk than a bank or credit union
     

  • The type and size of credit requested in your application. Both the type of credit and size of the loan or credit limit you have applied for in the past can have an impact on your Equifax Credit Score. For example, mortgages, credit cards, personal loans and store finance may carry different levels of risk
     

  • Number of credit enquiries and shopping patterns. Every time you apply for credit and a credit provider obtains a copy of your report, an enquiry is added to your credit report. This can include any loan, mortgage or utilities applications you may make. Shopping around for credit and applying to a number of different credit providers within a short space of time may negatively impact your Equifax Credit Score. It flags you as a greater risk than infrequent applications for credit with a few credit providers
     

  • Directorship and proprietorship information Directorship and proprietorship information on an Equifax Credit Report may impact your Equifax Credit Score. If you’re a director or a proprietor it’s important to check the individual and commercial sections of your credit report
     

  • Age of credit report. The date your Equifax Credit Report was created may impact your Equifax Credit Score. For example, a relatively new file may indicate a different level of risk than an older report
     

  • Pattern of credit enquiries over time. The spread of activity over an Equifax Credit Report’s life to date can have an impact on your Equifax Credit Score. For example, a relatively new credit file with many enquiries may represent a different level of risk than an older file with only a few credit enquiries
     

  • Your personal details. Your Equifax Credit Score takes into consideration personal circumstances, such as age, as well as ‘stability factors’, such as how long you’ve been employed in your current position and how long you’ve resided at your current residential address, to help assess credit risk
     

  • Default information. Default information on your Equifax personal or business Credit Report, such as overdue debts, serious credit infringements or clearouts, may negatively impact your Equifax Credit Score. On the other hand, a lack of default information in your file may positively affect your Equifax Credit Score
     

  • Court writs and default judgements. A court writ or default judgement on an Equifax Credit report is an indicator of increased risk and may negatively impact your Equifax Credit Score. On the other hand, a lack of court writ or default judgement information would indicate a reduced level of risk
     

  • Commercial address information. Information such as location and the length of time you have resided at your current business address is a measure of stability and may impact your Equifax Credit Score

 

It is important to note that the way the Equifax Credit Score is used in practice by lenders may differ to the way it is displayed in the Equifax Credit and Identity portal. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not. 

Category: Credit Scores

If you don’t have an Equifax Credit Score, it’s probably because you are not credit-active or haven't applied or used credit. Children don’t have Equifax Credit Scores and some older Australians and those new to Australia may not either.I f you fall into one of the categories of insolvency such as bankruptcy, you may not have a credit score either as Equifax does not score credit files where insolvency information is present.

Category: Credit Scores

Your Equifax Credit Score is calculated based on the information on your Equifax Credit Report at a point in time. As the information on your Equifax Credit Report changes so will your Equifax Credit Score.

Your Equifax Credit Report is updated as your repayment history information on accounts is updated each month and as other information is added or removed from your Equifax Credit Report. Information from credit providers can include credit enquiries (resulting from credit applications you’ve made) and overdue debts. It can also include publicly available information such as default judgements, court writs and Bankruptcy Act information.  

Category: Credit Scores

A Credit report is the detail of your credit history to date whereas a credit score is simply a number which is derived from the information on an individual’s credit report as held by the credit reporting body (CRB) when the credit score is requested.

Your Credit Score does not form part of your Credit Report, rather it is derived from the information available on your Credit Report at a specific point in time.

You can get your free Equifax Credit Report here or to view your Credit Score, you may consider subscription plans from Equifax. 

Category: Credit Scores

The Equifax Score Tracker is a tool that tracks your Equifax Credit Score over time. Each month it charts your Equifax Credit Score, helping you to gain insight into what is impacting your Equifax Score and how you could improve it.

When you sign up to an Equifax Premium or Equifax Ultimate subscription, each month we’ll generate an Equifax Credit Score which you will receive together with a graph that charts this. You’ll also receive information regarding what items on your Equifax Credit Report contributed to your Equifax Credit Score at that point in time.

Your Equifax Credit Score may change every time new activities, such as credit enquiries or loan defaults, are recorded in your Equifax Credit Report.

It’s important to note that when a credit provider applies to obtain a Credit Score calculated by Equifax to use or review in the process of assessing your application for credit, the Equifax Credit Score that the credit provider receives is calculated at the time they do their credit check on you for a credit application and may change depending on the circumstances in which you have made a credit application. The Equifax Credit Score that you receive through an Equifax Premium or Equifax Ultimate subscription is not necessarily the same credit score a credit provider would obtain from Equifax. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not.

However, by monitoring your Equifax Credit Score over time, you’ll see how your Equifax Credit Score changes depending upon the information on your Equifax Credit Report, and be able to track changes over time. You’ll also have a better indication of how lenders see you based on the information on your Equifax Credit Report.

Category: Credit Scores

Your Equifax Credit Score is calculated at a point in time and will change each time new information is added to your Equifax Credit Report.

With an Equifax subscription that includes an Equifax Credit Score, you will receive a new Equifax Credit Score in the portal each month. A monthly email will notify you that your new Equifax Credit Score is available within the Equifax Credit and Identity portal.

Please note that while Equifax calculates your Equifax Credit Score every month as part of Score Tracker, when a credit provider uses an Equifax Credit Score as part of assessing an application for credit, the score they receive is calculated at the time they do their credit enquiry and may be different to your Equifax Credit Score in the Score Tracker. The way the Equifax Credit Score is used in practice by lenders may differ to the way it is displayed in the Equifax Credit and Identity portal. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not.

Category: Credit Scores

Contributing factors are the items on an Equifax Credit Report that impact the Equifax Credit Score at a point in time. With an Equifax Premium or Equifax Ultimate subscription you will see the top four contributing factors. The arrows next to the contributing factors show how much impact, positive or negative, that factor played in your Equifax Credit Score.

Category: Credit Scores

Yes, in certain circumstances. For instance, if you have gone guarantor for a company loan that is then not repaid on time, or at all, your personal Equifax Credit Score will be negatively impacted. (If a credit provider wishes to access both your consumer credit and commercial Credit Files – aka your Credit Report – as part of assessing an application for credit, they will need your consent prior.)

Category: Credit Scores

It will cease to exist. Equifax does not generate an Equifax Credit Score for Equifax Credit Reports where insolvency information is present. This includes all six categories of insolvency:

1. Bankrupt (excluding discharged, Part X and Part 1X)
2. Part X Debt Agreement (excluding discharged)
3. Part X Debt Agreement (discharged)
4. Discharged Bankrupt (excluding Part X, and Part IX Debt Agreements)
5. Part IX Debt Agreement (excluding discharged)
6. Part IX Debt Agreement (discharged)

Individuals can enter into Debt Agreements, in certain circumstances. These are not a type of bankruptcy but are, in fact, a way an individual can avoid going into bankruptcy.

Category: Credit Scores

The different Equifax Credit Score rating helps you to understand your level of risk, based on your Equifax Credit Score, compared to the Australian credit-active population held by Equifax.

The Equifax Credit Score rating is based on historical analysis that determines how likely an adverse event, such as a default, court judgement, personal insolvency or similar, is to be recorded on a credit report in the next 12 months. This a key determining factor in whether you are likely to be able to repay future credit. 

  • Below average  - There is an above average possibility an adverse event will be recorded on a Credit Report the next 12 months
     

  • Average - There is an average possibility an adverse event will be recorded on a Credit Report in the next 12 months
     

  • Good - Scores in this category indicate that an adverse event is less likely than average to be recorded on a Credit Report in the next 12 months. The odds of no adverse events occurring on your Credit Report in the next 12 months are better than the average population odds
     

  • Very Good - It is unlikely an adverse event is to be recorded on a Credit Report in the next 12 months. In other words, the odds of no adverse events occurring on your Credit Report in the next 12 months are more than 2 times better than the average population odds
     

  • Excellent) - An adverse event is highly unlikely to be recorded on a Credit Report in the next 12 months. In other words, the odds of no adverse events occurring on your Credit Report in the next 12 months are more than 5 times better than the average population odds.

 

Equifax reviews the Australian credit-active population scores regularly and the Equifax Credit Score rating is calculated to take into account population and economic changes.

It is important to note that the way the Equifax Credit Score is used in practice by lenders may differ to the way it is displayed in the Equifax Credit and Identity portal. Each lender may also apply their own lending criteria and policies, and in some cases their own scores, which is why some lenders may approve your application while others will not.

You can get your free Equifax Credit Report here but to get access to your Credit Score, you may want to consider our subscription plans from Equifax.

 

Category: Credit Scores

You can obtain your Equifax Credit Score by signing up to a subscription package. There are a range of different packages that will provide you with access to your Equifax Credit Report, Equifax Credit Score and additional features such as credit alerts, a Score Tracker and identity monitoring tools. If you’re simply looking for your free credit report from Equifax you can also order it here.

Category: Credit Scores

Your Equifax Credit Score is a summary of your credit information held by Equifax and indicates how finance and utility providers may view you when applying for credit. It is derived from information held on your Equifax Credit Report as held by Equifax when the score is requested. The Equifax Credit Score is a number between 0-1200 and in simple terms, the higher your Equifax Credit Score, the better your credit profile and the lower the credit risk.

The information that can be put on your Equifax Credit Report is strictly regulated by the Privacy Act 1988. Equifax calculates your Equifax Credit Score using information collected directly from you, as well as from credit providers. Publicly available information, such as court actions relating to insolvency and ASIC records, may also impact your Equifax Credit Score.

Knowing your Equifax Credit Score may help you negotiate a better rate with some lenders. You can also take steps to improve your Equifax Credit Score, if it is low.

Learn more: Both CreditSmart and the Australian Government's MoneySmart have useful information about credit scores.

Category: Credit Scores

You can get your Equifax Credit Score for free at GetCreditScore. Please note that with your free Equifax Credit Score from GetCreditScore you simply receive the Equifax Credit Score. It does not include an Equifax Credit Report, key contributing factors to your Equifax Credit Score (which indicate what information in your Equifax Credit Report contributed positively or negatively to your Equifax Credit Score) or credit alerts to notify you of changes to your Equifax Credit Report.

You can obtain a free Equifax Credit Report here or you may consider monthly subscription plans from Equifax which include Credit Alert and Identity monitoring services.

 

Category: Identity Theft

Identity theft can be a stressful, time-consuming and costly experience. Unfortunately, many people don’t realise that their identity has been stolen until it’s too late to protect their Credit Record. If you believe that someone may have used your identity details to fraudulently obtain credit you should act immediately.

Here are some steps you can take:

  • Request a copy of your Equifax Credit Report to check that the information relates to applications for credit that you have in fact made

  • Contact any credit providers listed on your Equifax Credit Report that you do not know or have not applied for credit with so that they can investigate and take appropriate and prompt action

  • Contact Equifax (and other credit reporting bodies) to put a ban on your consumer credit information

  • Contact the police and report the crime

 

When dealing with a possible identity theft it is important to keep records of the conversations you have and keep notes, including:

  • name/s of the individual

  • contact number

  • the date you spoke to an organisation

  • details of the conversation

 

You should also ask questions to the people you speak to so you can understand the process. Each credit provider may have their own processes for handling fraud. Note these requirements so you can comply.

 

Learn more: OAIC fact sheet on fraud and your credit report

Category: Identity Theft

To help protect your identity, we’ve put together the following P.R.O.T.E.C.T checklist.

Post

  • Reduce the risk of postal fraud by installing a secure mailbox

  • Arrange for your mail to be held at the post office whenever you go away. If you are moving house, arrange for your mail to be forwarded and let companies such as banks, credit card and utility companies know your new address

  • After you've read important documents and no longer need them, shred them before throwing them out

  • Consider electronic statements, it helps protect the environment as well

 

Review

  • Check your bank accounts each month and investigate any suspicious activity, such as small payments to unknown companies or people

 

Online

  • Don’t reveal passwords and personal identification information online, such as your birth date, full name, mother's maiden name or your phone number

  • If you use social media sites like Facebook, make sure your privacy and security settings are updated so only ‘friends’ can access your page

 

Track

  • Regularly check your Equifax Credit Report which you can get for free here and consider subscription plans from Equifax that includes a Credit alert service, notifying you when certain changes are made to your Equifax Credit Report

  • Consider an identity focussed subscription plan from Equifax that includes Identity Watch, a cyber monitoring service. If your personal information is found to be compromised online you will be alerted

 

Eliminate

  • Shred paperwork containing personal information or account details, including bank and credit card statements, phone and energy bills

 

Computer

  • Always use secure sites when paying for purchases or transferring money online

  • Install security software and keep it updated to protect your computer from hackers, scammers and viruses

  • Never open any attachments from unreliable sources, or unusual messages or files from people you don’t know

 

Tell

  • Immediately inform your credit providers if you notice any suspicious activity in your financial accounts

Category: Identity Theft

If a business that stores your personal data notifies you that it has been the victim of a data breach, it’s a good idea to check your Equifax Credit Report ASAP which you can obtain for free here. You may also want to consider taking out a subscription plan from Equifax which includes Credit Alerts and Identity monitoring services. Credit alerts can provide an early warning if someone tries to apply for credit in your name. Identity monitoring means you will be notified if Equifax discovers your personal information is being illegally traded online.

You can also place a ban on your Credit Report  to help prevent fraudulent accounts being opened in your name. While a ban is in force, credit providers cannot view your Credit Report without your specific written permission.

Learn more: OAIC fact sheet on data breach guidance for consumers

Category: Identity Theft

Identity theft is when someone steals your personal information, such as your name, driver’s licence number or data of birth. Criminals typically steal this information in order to thieve money or gain other benefits (maybe a mortgage, a passport or a new phone account) by pretending to be someone else. Identity thieves may even commit crimes in your name.

Once an identity thief has access to your personal information, they could:

  • Open new credit card accounts in your name. When the thief makes purchases on the credit cards and leaves the bills unpaid, the negative information can be reported to your credit report and could impact your credit score and your ability to get credit in the future

  • Open a bank account in your name or create fake debit cards and use them to drain your existing bank accounts

  • Set up a phone, wireless internet, or other utility service in your name

  • Try and get a copy of your Equifax Credit Report

 

Learn more: Read MoneySmart's tips to help avoid identity fraud

Category: Identity Theft

Identity theft can happen to anyone. Identity criminals use many different methods and are getting more and more sophisticated.

Some common methods of identity theft include:

  • Stealing personal information that has been shared on unsecured websites or public Wi-Fi

  • Using of personal details and payment information provided on social media or services such as online dating

  • Thieving mail articles including documents that may contain personal details such as bank and credit card statements and preapproved credit card offers

  • Searching through household or commercial rubbish for documents that may contain personal details such as bank and credit card statements, preapproved credit card offers and tax information

  • The theft of wallets, bags and purses in order to obtain identification information such as driver’s licence or Medicare details, credit and debit cards

  • Skimming credit and debit cards via ATMs or EFTPOS terminals. (Skimming refers to stealing the information stored on a credit or debit card’s magnetic strip.)

  • Internet scams designed to obtain your personal information, either through phishing emails or spoofing sites designed to replicate banking and payment sites

  • Filling out change-of-address forms to divert your mail, which generally contains personal and financial information, to a different address

  • The use of malicious computer programs such as malware or spyware to record and transmit your online activity

  • Telemarketing scams

  • Data breach by stealing records through hacking into an organisations systems

Category: Credit Report Ban

A Credit Report ban helps if you think your identity may have been stolen. If you have reasonable grounds to believe you have been or are likely to be victim of fraud, you can request a ban on your Credit Report. Place a ban on your Equifax Credit Report here.

Placing a ban on your Credit Report will prevent credit providers from accessing your Credit Report as part of a credit check.

While the ban is in place your credit information can’t be disclosed by a credit reporting body. Credit providers will not be able to see credit reporting information on any part of your Credit Report without your specific written permission.

This helps to safeguard against anyone using your information to try and fraudulently take credit out in your name.

If you are placing a ban on your Credit Report it is important to do so with each credit reporting body in Australia.

Category: Credit Report Ban

If you would like to place a ban or extend a ban on your Equifax credit report, please enter your details into the form - Click here

Category: Manage My Account

Yes. To upgrade your Equifax subscription simply log in to the Equifax Credit & Identity portal and select the product you wish to upgrade to.

Category: Manage My Account

Yes, you can do this by calling us on 13 8332.

Category: Manage My Account

If you cancel before your annual subscription period ends you are entitled to a pro rata refund of the part of the subscription fee paid by you that relates to the unused portion of your subscription. For customers on a monthly subscription if you cancel your membership the membership fee for that month will not be refunded.

For more information please view the Your Credit and Identity Terms and Conditions.

Category: Manage My Account

Yes, you can. You are entitled to a free Credit Report from Equifax once a year, or in the following situations:

  • You’ve been denied credit. (You’ll need to request your Credit Report within 90 days of your application being declined.)

  • You have submitted a correction request and have been advised that information on your file has been corrected.
     

If you want a copy of your Equifax Credit Report but you don’t meet the criteria above, Equifax will happily supply one, but there may be a small charge involved. You have the option of either making a single payment for one report, or consider taking out an subscription plan from Equifax and having your Equifax Credit Report sent to you on a regular basis along with other features.

Category: Manage My Account

Score Tracker recalculates the credit scores of Equifax subscribers every month. If new information is added to your Equifax Credit Report or old information deleted from it, this is likely to raise or lower your Equifax Credit Score. Score Tracker lets Equifax subscribers remain informed about whether they are becoming more or less creditworthy. This can be useful information if, for instance, you are planning on applying for credit such as a home loan. 

Category: Manage My Account

It is important your email address is up to date to receive the full benefits of your Equifax service, in particular any credit or identity alerts and regular product updates.

Please contact us or call us on 13 8332 to change your email address.

Category: Manage My Account

If you need to update the credit card details you use to pay for your Equifax subscription you can call our contact centre on 13 8332.

Category: Manage My Account

You can choose to opt out of marketing emails when you first sign up to the Equifax Credit and Identity service.

If you are an existing member you can opt out of receiving marketing emails by clicking the "unsubscribe" link in the footer of emails you receive, or by contacting us on 13 8332.

Category: Manage My Account

On a desktop or laptop computer
Click the login button on the top right-hand corner of the homepage of the equifax.com.au website. This will open a ‘Select a Service’ drop-down menu. Choose ‘Your Credit and Identity’ from this menu. You’ll then need to type in your username and password to access the portal.

On a mobile or smartphone
Tap on the menu icon on the top right-hand corner of the homepage of the Equifax.com.au website. Press the login button and from the ‘Select a Service’ drop-down menu, select ‘Your Credit and Identity’. You will then need to type in your username and password to access the portal.

Category: Manage My Account

Your username is the email address you used to sign up to the Equifax Credit & Identity service. If you have forgotten your username please contact us or call us on 13 8332.

If you have forgotten your password you can click on the Forgot Password link on the login screen of the Equifax Credit and Identity portal. You will need some identity information and answers to your security questions to reset your password.

Category: Manage My Account

It is good security practice to regularly change your passwords. You can reset your password by using the Forgot Password link or via the My Account section in the Equifax Credit and Identity portal.

Category: Manage My Account

We are sorry you want to leave us! If you would like to cancel your subscription you can do so in one of two ways:

Phone
Please call us on 13 8332 (select option 2)

Online
Complete the personal contact us form, selecting 'Cancel my personal Equifax subscription plan' in the 'I would like to...' menu. Your subscription will be cancelled within one business day and confirmation sent to you by email.

If you cancel before your annual subscription period ends you are entitled to a pro rata refund of the part of the subscription fee paid by you that relates to the unused portion of your subscription. For customers on a monthly subscription if you cancel your membership the membership fee for that month will not be refunded.

For more information see our Your Credit and Identity Terms and Conditions.

Category: Complaints

Simply complete the online form and one of our complaints team members will contact you within 1-3 business days. Or contact us via:

Email: customercomplaintsAU@equifax.com
Mail: Customer Resolutions Team, PO Box 13294, Brisbane, QLD 4001

Category: Complaints

We want to do everything we can to resolve your matter, so it’s important that you raise your issue with our complaints team prior to having your matter addressed externally. Raising your matter with Equifax directly will often result in a quicker resolution.

If you are still not satisfied with our response, you can contact the Australian Financial Complaints Authority. (Please note that AFCA will likely encourage you to try to resolve your issue with Equifax first before they get involved in investigating your complaint.) 

Category: Complaints

Australian Financial Complaints Authority
Website: afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678
Address: GPO Box 3, Melbourne, VIC 3001

When contacting AFCA, we suggest you include the following: 

  • A detailed timeline of events

  • Copies of any correspondence, such as emails, you've had with the credit provider and Equifax's Customer Resolutions Team

  • As well as contacting AFCA, you can also make a complaint to the Office of the Australian Information Commissioner (OAIC)

 

You may also make a complaint to the Office of the Australian Information Commissioner (OAIC). 

Office of the Australian Information Commissioner
Website: oaic.gov.au
Email: enquiries@oaic.gov.au
Phone: 1300 363 992 
Address: GPO Box 5218, Sydney, NSW 2001

Learn more: Credit Smart also provides information on credit industry complaints