ANZ participates in credit reporting. This means if you apply for credit from ANZ, we may request a credit report about you from a credit reporting body. Credit reports contain information that can help us assess your application, including your credit history with other providers.
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, we need to give the credit reporting body:
- Information about you (such as your name and address) 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.
When you receive credit from ANZ, we need to share more information with a credit reporting body, on an ongoing basis. This ensures it can be included in your credit report and shared with other credit providers, upon request. It’s information we’ve collected through your use of your ANZ product and includes:
- 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; or
- Commit a serious infringement (e.g. fraudulent behaviour or deliberately seeking to evade your repayment obligations)
But we also let them know when you:
- Make repayments on time; or
- Correct a default
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
Using information we’ve received from credit reporting bodies
We can use this information to:
- Assess your application for credit.
- Help you avoid defaulting on your credit obligations.
- Assess your suitability to act as a guarantor.
- Manage accounts and carry out general administration and operational tasks for ANZ Group - for example, risk management, market and customer satisfaction research, staff training, credit scoring and collecting debts.
- Meet requirements of any laws, regulations, codes of practice and payment systems.
Often, we’ll combine the information obtained from a credit reporting body with the data we already hold about you, like:
- How much you hold on deposit
- How you have repaid existing ANZ credit
- Information from your application form
We can then use the combined information to create a ‘credit score’ or rating, which we use to decide whether you can afford the credit you’re applying for.
Sharing your credit information
Special rules apply to how we share information we get from a credit reporting body. Generally we can only share this information with:
- Our related entities – they use and disclose the information as we do
- Agents and contractors or service providers – such as debt collection agencies
- Other credit providers – to assess credit or investigate suspected fraud
- Mortgage insurers
- Your guarantors
- Regulatory bodies, government agencies and law enforcement bodies or courts – when we’re required or authorised by law
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.
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.