You can request your credit report (including a free option) from Equifax. 

To get a free copy of your Equifax credit report, get in touch with here.

Perhaps you are looking to apply for credit, or you’ve recently been declined for credit and are looking for credit repair advice. Or you might just be worried about keeping your identity safe. Getting your credit report will give you a full overview of the information creditors can access on you.

A credit enquiry is when a credit provider such as a bank performs a credit check on you as part of an application for credit. For example, this could be when you apply for a home loan or credit card. It may be added to your credit report and will be listed as a ‘credit enquiry’. 

Details of a credit check may include the date, the type of credit you have applied for, such as a mortgage, credit card, personal loan, utility and/or telco accounts as well as the amount you applied for. Your credit report doesn’t show the outcome of your application, only that an application has been made.

The process of a credit application involves a check into your credit history which will appear on your credit report. The lender looks to learn how you've handled your debts, the number of accounts you have open, whether you've paid on time, and the balance you're carrying across your credit products such as a home loan or credit card.

If credit providers enquire about your credit history on the back of multiple applications for credit, it can give the impression that you're taking on too many accounts in a short period of time, a move that could impact your credit worthiness.

As GetCreditScore is an Access Seeker requesting for your credit score and credit information from Equifax on your behalf, it doesn’t negatively impact your credit score or credit worthiness. 

Reporting on Account Information is part of Comprehensive Credit Reporting (CCR) which was introduced in 2017.  For your accounts to show on your report, your financial institution must be participating in CCR. 

It can also take a while for new credit accounts to appear on your credit report, as credit providers go through different reporting processes to update a credit reporting bureau. Furthermore, credit providers may not submit information to every credit reporting bureau, so there may be instances where it is visible on some credit reports and not others.

Personal identity information (PII) including your name, date of birth, gender, driver’s licence, and address history is held for the life of the report unless updated by information supplied from recent credit activity. For other information it depends on the type of data, but this may be up to: 

12 months

• Financial hardship 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 actions

Seven years

•  Overdue accounts listed as serious credit infringements. 

Information about credit accounts that you have such as mortgages and credit cards will appear on your credit report for the length of the loan or credit facility. It will also be held for an additional two years after the account has been closed.

Any credit provider can access your credit report. That is, a business offering you loans, such as banks, or a business offering you goods and services before you pay, such as telco companies or utility providers. Their access is recorded and can be seen by other credit providers.

You or someone you appoint (such as GetCreditScore) can also access your credit report, but when we do it, this is not visible to anyone but yourself and the credit reporting bureau we use, being Equifax. It’s important to note that accessing your credit score and report through GetCreditScore does not negatively impact your credit score and how lenders may view your credit worthiness.

Bankruptcy is a legal process where you’re declared unable to pay your debts.

The listing of a bankruptcy may appear on your credit report for up to seven years based on whichever of the following ends later. It can be listed for: 

• A period of five years from the day you become bankrupt, or 
• A period of two years from the day your bankruptcy ends

A bankruptcy listing can severely impact your credit worthiness when you apply for credit. To reduce the amount of time a bankruptcy appears on your credit report, ensure you meet your commitments as part of being bankrupt, so you can be discharged from the bankruptcy as soon as possible. 

Repayment history is simply a record of your minimum monthly repayments on your loans such as mortgages and/or credit cards that appear on your credit report. 

Your repayment history information is recorded on your credit report for a period of two years. 

It’s important to know that regularly making your minimum repayments on time is a great way to demonstrate good credit behaviour and improve your credit worthiness.

As of 1st July 2022, we are required to also provide additional information in relation to any financial hardship arrangements that might be associated with your accounts.

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.

Please note that these arrangements do not impact your credit score.

A non-payment of a debt of $150 or more that has been overdue for at least 60 days can be listed as a ‘default’ on your credit report by a credit provider such as a bank or utility company. 

Defaults will remain on your credit report for a period of five years. Once you have paid the default, the status of your default will be updated to ‘paid’.

Defaults are looked upon unfavourably by credit providers, so, it’s a good idea to contact your credit provider early, if you are having trouble meeting your repayments on time.

If there is a new arrangement in place that is wholly and partially related to any of your defaults, this will also be displayed under the status of the debt.

A court action is an order by a court that requires you to pay the credit provider with whom you have an outstanding debt with and includes any fees and interest.

A court action on your credit report can severely impact your credit worthiness. This is because it indicates that you haven’t been able to pay off your debt and requires legal action to reach an acceptable agreement.  

A court action remains on your credit report for up to five years.