What your credit report can tell you

Your credit report gives you much more than your credit score. It also provides insights into your borrowing habits.  

Here's the lowdown on what you can learn. 

🗒️ The big picture 

Essentially, your credit report is a record of all things credit-related in your past.  
 
These include negative events (like defaulting) to your enquiries for credit, to your accounts, to how long you've been using credit. 

🙉 Events you'd rather forget

In credit land, negative events range from minor mistakes, like missed repayments, to major events, like accounts with debt collectors, defaults, fraud listings, court cases, and bankruptcy.  
 
The former hang around on your file for two years, and the latter for as long as seven years. 

🚩 Seeing something you don't remember? 

If you see a negative event on your credit report that didn't happen, you can get it fixed. You can request a correction directly with the credit provider or via the credit reporting agency.  This might also be an indicator of fraud, for example that someone has applied for credit using your identity, so it is a good idea to check your credit report regularly to protect yourself. 
 


Free advice is also available via The National Debt Helpline on 1800 007 007, or at ndh.org.au or financialcounsellingaustralia.org.au.  

⏳ How long have you been at it? ‍

Your credit report tells you how long you've been in the borrowing business. It begins when you first take out a loan or sign up for a long-term service that requires regular payments, such as a mobile phone plan or an electricity connection. 
 
Early in your credit history, your credit score is usually average. But, the longer you show yourself to be reliable, the higher it gets. 

🏛️ See what the banks see 

You can view what’s on your credit report in the MONEYME app.  
 
Check your credit score and head to ‘Insights’ to view any negative events, the age of your credit file, any credit accounts you’ve had, and any enquiries (applications) you’ve made in the past.  
 


Not happy with your credit score? Your credit score insights will help you understand what has impacted your score and how you can improve it.  
 
Your score updates every month, and, every time you take a responsible step, like making timely repayments, you could give it a boost.