Understanding My Credit Report
Frequently Asked Questions
Your credit report provides a detailed record of your credit history, including the types of credit you have had and how you have repaid your credit. This section provides a comprehensive explanation of what makes up your Experian credit report and how to interpret the information contained within it.
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A credit report is a detailed record of your credit history, including the types of credit you have had and how you have repaid that credit. Your credit report may include a 24-month history of whether you have made your loan repayments on time. This is known as “repayment history information” and a good repayment history will help you to get approved when you apply for credit.
A credit report is made up of a range of personal and financial information. Below are the typical types of information found on a credit report:
● Personal Identifying Information – Information such as your name, address, driver’s licence number or date of birth is required for identification purposes. Updates to this information come from information you supply to credit providers, or when you request your credit report from Experian and third-party organisations, such as price comparison websites.
● Credit Account Information – Credit providers, such as banks, report information about each credit account you have with them. They report the type of credit account, the date you opened the account, your credit limit or loan amount, and your payment history.
● Credit Enquiries – Your credit report lists the enquiries or requests that lenders have made for your credit reports within the last five years. When you apply for a loan, for example, you authorise your lender to ask for a copy of your credit report.
● Bankruptcies & Judgements – Credit reporting bodies also collect bankruptcy information from courts.