Check Your Credit File for FREE:
Take Control of Your Financial Future
Are you concerned about your credit score?
Do you suspect inaccuracies in your credit file?
Taking charge of your financial health starts with understanding your credit report.Fortunately, in Australia, you have the right to access your credit file for free from each of the three Credit Reporting Agencies (CRAs).
This guide will help you navigate the process and empower you to make informed decisions about your financial well-being.
What are Credit Reporting Agencies (CRAs)?
CRAs are organizations that collect and maintain credit information on individuals.In Australia, there are three major CRAs:
Each CRA gathers information from various sources such as banks, credit card companies, and utility providers.They then compile this information into a credit report, which includes details about your credit history, debts, and payment behavior.
CRAs are organizations that collect and maintain credit information on individuals.In Australia, there are three major CRAs: Equifax, Illion & Experian.
Why Check Your Credit File?
There are several reasons why checking your credit file is crucial:
You Applied For Finance & You Were Declined?
If you applied for a loan and they said " You need to check your credit file", It means something is affecting your creditworthiness, if its not a matter of serviceability to the loan, its your credit file, so you need to check it!
Identify Errors:
Mistakes can happen, and sometimes your credit report may contain inaccurate information.Checking your file allows you to identify and dispute any errors, ensuring your credit score accurately reflects your financial standing.
Monitor Your Credit Health:
Regularly reviewing your credit file helps you track your credit progress and identify potential red flags that could impact your ability to secure loans or credit cards in the future.
Protect Yourself from Identity Theft: Checking your credit report can help you detect any suspicious activity, such as unauthorized accounts or inquiries, which could be signs of identity theft.
Fix My Credit File Australia Your Partner in Credit Repair:
At Fix My Credit File Australia we understand the importance of accurate credit information and its impact on your financial future.We offer comprehensive credit repair services to help you achieve your financial goals.
Our services include:
Identifying and disputing errors on your credit report
Negotiating with creditors to remove negative items like disputable defaults, court judgments, clear-outs, enquiries, financial hardship, repayment history disputable listings. And helping you to Building a positive credit history, Monitoring your credit progress & Educating you on your consumer credit rights in Australia.
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Connect Unlimited Accounts
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Clear overview of all finances
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All of your accounts in one place
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Build tables and lists in a click
Define Financial Goals
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Set custom spending limits
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Get realtime budget alerts
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Devise a clear spending plan
Track Your Money
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Cancel wasteful accounts
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Schedule payments on the go
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Manage your debt
Check your credit for FREE!
Fix My Credit File Australia provide FREE credit file assessments for everyone. With over 10 years experience in the credit repair erena your in the best of hands.
You receive a very personable experience with Fix My Credit File Australia because your not dealing with uneducated sales staff that are paid commissions for taking your money, your dealing directly with the CEO and founder of Fix My Credit File Australia Jade Taylor.
Once you have a copy of your credit files i will provide you with a free credit file assessment so you understand your current creditworthiness.
Together we can discuss your credit file, what the information means and what your position is currently based on your credit files, personal circumstances, gather 100% of the CORRECT information so i can them make an educated decision, based on facts and evidence, hand in hand with your current situation, creditworthiness and what your wanting to achieve.
Together i will explain what your current options are and what options you have moving forward.
Now it would make sense to have the one credit file, wouldn’t it? – We agree however, no, ITS NOT the case, so here we will help save you a lot of time and provide you with the companies and direct links to the Credit Reporting Burea’s in Australia, the exact same file they look at when you apply for a loan.
Get the FREE credit file links to the correct credit files directly from the Credit reporting bureau’s in Australia. Don't give your personal details to a website that claims to give you a free copy of your credit file, only to get a credit report that doesn't include the information the banks can see, gather 100% of the correct information so you can then make an educated decision. Get the correct information, here:
Check credit files -
Let us explain in a few short steps, so you can piece together the puzzle and get straight on to the correct company, who has the same credit file information the lenders are assessing you on.
Don’t be lured into some overnight free credit file website, offering you your free credit check or file –
As many aren’t the reputable “Credit reporting bureau” and these websites are created to gather your personal information to only provide an inaccurate or incomplete credit file furthermore they then use your information to promote products and services – no thank you.
Equifax
Where To Get Credit File
The main credit reporting bureau in Australia
( They used to be called VEDA )
You can get a free copy of your credit file every 12 mths, just once, or you are required to pay for the credit file. There are also different types of reports a free non comprehensive (less information, without the credit score) file, enough information however to locate any issues.
The comprehensive credit file is the credit file with the credit score attached and costs a little more. – We will explain the credit score and the relevance to that information here below.
You can access the link to Equifax here to order your free credit file: https://www.equifax.com.au/personal/products/equifax-credit-report
Where do i go?
Understand Your Equifax Score
Understanding your Equifax score
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.
Learn more and get access to your Equifax Credit file for free here
The second credit reporting bureau in Australia
( They used to be called Dun and Bradstreet)
The great fact about Illion is they dont charge consumers for their credit files to consumers for a copy of your consumer credit file
Where do I go?
To be sent via email a copy of your credit file directly from Illion go here: https://www.creditcheck.illion.com.au/auth/login/signup
Understanding your illion credit score
Understanding your illion credit score
A credit score is a number between 0 and 1,000 that indicates how credit-worthy you are, and how likely you are to pay your bills on time. Most credit scores are between 300 and 850. The higher the score, the better your credit rating is.
Illion (Credit Reporting Agency)
Experian
A more recent reporting body.
Not used as widely as the two reporting bodies above, however used by many creditors and lenders.
Where do I go?
To have a copy sent to you via email directly by Experian Go here: https://www.experian.com.au/consumer/credit-report-scores/experian-credit-report
Do I have to check all three?
Credit Enquiries
Number Of Credit Enquiries
Pattern of credit enquiries over time
The spread of activity or enquiries and to many in a short period of time can have an impact on your 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.
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 Credit Score. It flags you as a greater risk than infrequent applications for credit with a few credit providers
Your Personal details
Your personal details
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 risks
Directorship Information
Age of credit report
The date your Equifax Credit Report was created may impact your Credit Score. For example, a relatively new file may indicate a different level of risk than an older report. As a longer or older file has more longevity of data to assess your historical expectations and movements.
Default Information
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Directorship and proprietorship information
Directorship and proprietorship information on an Equifax Credit Report may impact your Credit Score. If you’re a director or a proprietor it’s important to check the individual and commercial sections of your credit report and also ensure this information is correct.
Number of credit enquiries and shopping patterns
The type of credit provider making an enquiry on your Credit Report (that is the type of credit provider you’ve applied for credit with) may impact your 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, high interest lender or bad credit lender may have a different level of risk and associated extra or higher interest 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 Credit Score. For example, mortgages, credit cards, personal loans and store finance may carry different levels of risk, high interest lenders or bad credit lenders can have a negative effect on your credit file as they are high risk and lend to those who are credit effected.
Yes, Some credit reporting bodies specialize in reporting different or industry specific data from only certain lenders, or providers that report to them about your creditworthiness, or certain events or types of credit.
Its also dependent on who the creditor or lender reports their information to, as to where the information and data lies and with what credit reporting authority that information reports to. This is why you need to check all three to get 100% of the correct, most current information to then be able to make an educated decision once you have all the facts.
Sound confusing and unstructured for consumers?
We agree, but unfortunately it’s the way they report your information.
So to explain, some lenders will check all three credit reporting agency's, some may only check two of the three reporting agency's, some check just one, it also depends on who the creditors or lenders report their data to, as to where they will then check what credit file when assessing your creditworthiness and credit file. You might have three default on Equifax, two on Ilion and none on experian, and vise versa. - This is why you need to check all three.
So we need to have access to what the lenders access to, to ensure we have 100% of the correct information, to then work on solutions should there be negative listings or overdue accounts.
When you apply for credit in Australia, the credit provider will usually ask for your permission to obtain and access the information on your credit report.
The information helps them determine how you manage repaying other credit obligations and process a decision to approve your application.
An Experian Credit Score represents our view of how a credit provider may see the information on your Experian Credit Report. Your Experian Credit Score is a number between 0 and 1,000. The higher your score, the healthier your report is.
Your Experian Credit Score can be useful guide. It gives you an idea of how credit providers may view your Experian Credit Report and the information contained in it when assessing your application for credit.
Remember, your Experian Credit Report is only a portion of what is considered in assessing your credit application. Your credit score isn’t set in stone – it’s dynamic that can change with certain kinds of financial behaviour. It can go up or down over time, so it’s important to regularly check your credit report.
You can check your Experian credit file directly at https://www.experian.com.au/consumer/credit-report-scores/experian-credit-report
Understanding your Experian score
Default information on your personal or business Credit Report, such as overdue debts, serious credit infringements or clear-outs, stay on your credit file for 5-7 years. Defaults 5 years Clear-outs or now called serious credit infringement sentence is 7 years.
Paying a default, overdue account, clear-out does not remove it from your credit file.
Commercial Address Information
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 Credit Score
Credit Components They Assess You On
How do the lenders and or creditors choose who is approved and who is declined for finance or credit?
Every lender is different, but the main components hand in hand with the companies internal policies and procedures/ risk management assessment criteria is based on
⦁ Your creditworthiness/ credit history
⦁ Affordability and serviceability for the finance amount/term/type of account
⦁ Liabilities, existing and current finance your still paying off and the amount of finance you have across all lenders circumstantial to your personal financial circumstances.
Court Judgments Or Default Judgment
Court writs and default judgements
A court writ or default judgement on your credit report is seen as a negative listing and “bad credit” the sentence for a Judgement is 5 years of bad credit. Paying a Judgement will not remove the bad credit from your credit file.
How to maintain good credit
Factors that contribute to a higher credit score include a history of on-time payments, no defaults, Judgments or overdue accounts, low balances on your credit cards, a mix of different loan accounts from credit cards to mortgages , older credit accounts, and minimal inquiries