Comprehensive Credit Reporting
How positive data could impact your next credit application
When you apply for credit in Australia, the credit provider will usually ask for your permission to obtain and access the information on your credit report. The information helps them determine how you manage to repaying other credit obligations and process a decision to approve your application.
Comprehensive Credit Reporting (CCR) makes it easier for lenders to make a more informed assessment of your credit history when you apply for credit. CCR allows for the inclusion of additional information on your credit report which may include the following:
After Australia’s CCR scheme was launched back in 2017, banks began sharing positive financial customer data with the bureaus. As of September 2019, the big four banks had completed sharing their full portfolios of credit data with Experian.
As a result of the information shared by financial institutions, consumer credit scores began evolving, becoming more and more accurate.
Keep on top of what’s happening and find out what’s new through our blog Experian Insights. Here you can learn more about how well Australians understand CCR, the misconceptions about what data impacts credit scores as well as see where you stand in the credit landscape with our interactive Credit Health Check plus much more.
Experian is a proud supporter of the Australian Retail Credit Association (ARCA) industry initiative CreditSmart. This informative website was developed by credit experts to help you understand how credit reporting operates in Australia as well as empower you to understand how your credit choices affect the information that credit providers can access and how you can view and control that information.