ANZ participates in credit reporting and is subject to the mandatory credit reporting (CCR) regime. This means ANZ is required to share certain credit information with credit reporting bodies which is then included in your credit report. It also means that if you apply for credit from ANZ, we may request credit reporting information about you from a credit reporting body. This information includes information about your credit history with other providers and can help us assess your application.
What’s a credit reporting body?
These are companies that hold credit information about individuals and provide it to credit providers in certain circumstances, including when:
- A customer applies for credit (e.g. a home loan or credit card).
- The credit provider is trying to help a customer avoid defaulting.
Sharing your information with credit reporting bodies
When we request a credit report, or when we are required to share ongoing information about the credit you hold with ANZ, we need to give the credit reporting body:
- Information about you (such as your name and address and other personal information we hold about you) to make sure we receive the correct credit report.
- Information about your application – such as the type and amount of credit you’re applying for.
We also need to give the credit reporting body information we’ve collected through your use of your ANZ product such as:
- The type of credit you hold
- The amount of credit you received
- The terms and conditions
- When your account is opened and closed
- How you repay your credit
Also, we need to report information to a credit reporting body when you:
- Miss repayments on your credit
- Default on your obligations
- Commit a serious infringement (e.g. fraudulent behaviour or deliberately seeking to evade your repayment obligations)
- Enter into an arrangement with us to help you manage financial hardship.
But we also let them know when you:
- Make repayments on time
- Comply with any financial hardship arrangement
- Correct a default
This information that we disclose to a credit reporting body is called ‘credit information’.
Who are the credit reporting bodies?
Call: 13 83 32
Mail: Equifax Australia Information Services and Solutions Pty Limited
PO Box 964
Call: 1300 734 806
Mail: illion Australia Pty Ltd
PO Box 7405 St. Kilda Rd
Call: 1300 784 134
Mail: Experian Australia Credit Services Pty Ltd
PO Box 1969
Just so you know
Collecting information from a credit reporting body
When we collect information about you from a credit reporting body, it is usually to help us assess an application for credit you have made with us. For this purpose, we will consider information from the credit reporting body such as:
- Details of other credit products you hold
- How you have managed repayments on existing credit products
- Whether you have been in default in the past
- Any serious credit infringements
- Whether you have entered a financial hardship arrangement
This information we get from credit reporting bodies is called ‘credit eligibility information.’
We may also use information such as risk ratings, credit scores and other analytics and insights which we derive from the information we receive about you, to help us assess your ability to repay credit.
How we use and disclose your credit information and credit eligibility information
Credit providers can only use and disclose this information for limited purposes. Generally, ANZ will collect, use (and sometimes disclose) credit information and credit eligibility information to:
- Assess your application for credit.
- Help you avoid defaulting on your credit arrangement with us.
- Assess your suitability to act as a guarantor.
- Perform certain internal management purposes related to the provision or management of credit by ANZ.
- To assist with the collection of overdue payments
- Fulfll our legal and regulatory obligations (including mandatory requirements to report certain types of credit information to credit reporting bodies).
Third parties we may share your credit eligibility information with
Strict rules apply to when and how we share information we receive from a credit reporting body. Generally we can only share this information with:
- Our related entities.
- Debt collection agents.
- Other credit providers in certain situations (e.g. to assess credit or investigate suspected fraud).
- External dispute resolution schemes (or to other parties as directed by an external dispute resolution scheme).
- Mortgage insurers.
- Your guarantors.
- Enforcement bodies in certain limited circumstances.
- Other persons we are required or authorised by law to disclose the information to.
If you think you’ve been, or are likely to be, a victim of fraud – for example, because you suspect someone else is applying for credit in your name – you’ve got a right to request credit reporting bodies don’t use or disclose credit reports held about you.
To do this, contact the credit reporting body directly. After making such a request, the credit reporting body won’t share your credit report information for 21 days. (Please note you can request an extension to this period.)
Managing your credit information
You can access your credit information, seek a correction and make a complaint about how we manage this information, as explained in the Managing your personal information section below.
If we disclose information we’ve collected through the credit reporting bodies to our operation hubs overseas, this will be managed as outlined in this Credit Reporting section.