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2022-01-19 3:13 pm
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2022-01-10 11:44 am
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Credit history

Your credit history and why it matters for loan and credit card applications.

What’s on this page

What is a credit report?

Your credit report is a record unique to you. It shows how you have managed debt in the past (have you paid on time?) and your history of credit applications. 

The report is collected by authorised credit reporting bodies, who get information from organisations like banks and utility companies.

What is in a credit report? 

Information on loans, credit cards, utilities like electricity, rent pay,emys, interest free plans with retailers and car dealers, pay later accounts.

  • Personal details like date of birth and driver’s licence
  • Current credit (both used and available)
  • Loans applied for (including those made as guarantor)
  • Repayment history, and whether or not you are making payments on time
  • Payment defaults, where you are overdue by 60 days or more in making a payment
  • Bankruptcies
  • Court judgements

What is it used for?

Lenders access your credit report when you apply for credit. It allows them to see how you’ve managed your money before they can offer you finance. 

It’s worthwhile getting a copy of your credit report before you apply, so you know exactly where you stand and can fix any issues that could paint you in a less-than-favourable light.

How to check your credit report

Repairing your credit

Take a look at the Government’s Moneysmart website for their tips on how to fix and improve a credit score.