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Changes to Credit Reporting

What is credit reporting?

Credit reporting is the sharing of information between credit providers and credit reporting bodies about the lending products you have such as credit cards, personal loans, car loans, home loans and overdrafts. The information is collected by the credit reporting bodies to create your credit report, which is then used by credit providers when assessing your credit or loan applications.

What’s changing?

Comprehensive Credit Reporting (CCR), a new Australian law, changes the information we share with credit reporting bodies. Previously we only reported information including new credit enquiries (loan and credit applications) and payment defaults to the credit reporting bodies. Under the new rules, we’ll also be reporting:

  • The types of loan and credit accounts you hold
  • When accounts were opened – and closed (if relevant)
  • Current credit limit on each account
  • Your repayment history, including when you make payments on time and when you’re late.

What the changes mean for you

We’ll be sending this additional information to credit reporting bodies over the next 12 months. We have already commenced sharing credit card data, and personal loan, car loan, home loan and overdraft information will follow.  While you won’t see all data on your credit report straight away, we’ll be sharing credit information dating back to March 2018. So how you manage your money now is important, like making your repayments on time, as it may influence your future lending applications.

Keep on top of your money for a healthier credit report

We’ve got some helpful tips to get you started on managing your money and having a healthy credit report.

Set up automated payments

Details of your repayment history will now appear on your credit report, including when you pay on time and when you miss any payments. The more repayments you make on time, the better you look.

Top tip: The easiest way to stay on top of your repayments is to set up automated payments like direct debits.   

Get to know your accounts

Spend a few minutes going through your loan and credit accounts. Make sure you know which ones are open, and which ones you have are closed or are not in use. Also, make a note of your credit limits and aim to stay within them.

Check your credit report

Check the information that’s recorded about you is correct.  If you find something that doesn’t look right, contact the relevant financial institution and ask them to check it for you.

Top tip: You’re entitled to a free copy of your credit report from each credit reporting body every year.

Don't go overboard

Your credit report shows not only your current loan and credit accounts, but also every application you’ve made. Too many applications can have a negative impact on your report, so try and keep them to a minimum.

The sooner you start, the better

If your current credit report doesn’t have the best score, don’t lose heart. By getting on top of your money, like making repayments on time, you can start working to improve it – but it will take time.  Most importantly, be cautious of any ‘quick fix’ offers.

Want more information?

To understand more about credit reporting and how you can check your credit report, refer to the Australian Retail Credit Association website, Credit Smart.


Credit reporting bodies are independent organisations that securely gather and distribute credit and personal information to financial institutions to assist them in making lending decisions. ANZ provides information to and uses information from three different credit reporting bodies - Equifax, illion and Experian.

When you apply for a loan or credit card we’ll conduct a credit check on you, requesting information from one or more credit reporting bodies. The report will include personal information, to verify your identity, and credit information, to provide a much more complete picture of your lending history.

The credit reporting bodies will provide you one free credit report per year. Additional reports can be requested at a cost.

To obtain your credit report you’ll need to contact one or a combination of the credit reporting bodies.

If you believe your credit report is not correct you can contact the credit reporting body where the report was obtained or contact the financial institution that has provided the incorrect information and request an investigation.

There is no quick fix, improving your credit score will take time. Getting on top of your repayments and ensuring they are made on time is a good place to start. For more tips on how to improve your score visit the Credit Smart website.