My Personal Credit File
A lender can check on how credit worthy you are by checking your credit record. Your credit worthiness is determined based on what is recorded on your Personal Credit File. It is comforting to note that other businesses or lenders are not allowed to check what is recorded on your credit file without your permission. This is protected under the Privacy Act.
People's Personal Credit Files are held by credit reporting agencies, commonly termed CRA's. The largest CRA in Australia is Veda Advantage (used to be called Baycorp) which has about 13 million personal credit files on record.
Some examples of when lenders check to see how creditworthy you are is when you apply for:
- a home loan
- a bank loan
- car loan
- telephone account
- a credit card.
It is preferable for someone contemplating borrowing money to first check what is on their personal credit file. One would then be able to determine what type of loan would be most suitable to apply for and therefore minimise the chances of having the application for a loan rejected by a lender.
Should you wish to obtain a copy of your personal credit file you can do so by contacting Veda Advantage. There is an option where you can get a copy of your personal credit file for about $27.00 which takes a couple of days, alternatively if you are not in a rush, you can a request a free copy which takes about two weeks.
Your will need to provide Veda Advantage with the following information in order to obtain a copy of your Personal Credit File:
- Your full name
- Your date of birth
- Name of the organisation where you last applied for credit
- Your current employer (if not then your previous employer)
- Your daytime contact phone number
- Your current residential address
- Your previous residential address
- Your driver's license number
- Whether you want the file sent you by post, email or fax.
Veda Advantage may sometimes request further information before your credit file is sent to you, and hence the above times can sometimes take longer.
People's Personal Credit Files are held by credit reporting agencies, commonly termed CRA's. The largest CRA in Australia is Veda Advantage (used to be called Baycorp) which has about 13 million personal credit files on record.
Some examples of when lenders check to see how creditworthy you are is when you apply for:
- a home loan
- a bank loan
- car loan
- telephone account
- a credit card.
It is preferable for someone contemplating borrowing money to first check what is on their personal credit file. One would then be able to determine what type of loan would be most suitable to apply for and therefore minimise the chances of having the application for a loan rejected by a lender.
Should you wish to obtain a copy of your personal credit file you can do so by contacting Veda Advantage. There is an option where you can get a copy of your personal credit file for about $27.00 which takes a couple of days, alternatively if you are not in a rush, you can a request a free copy which takes about two weeks.
Your will need to provide Veda Advantage with the following information in order to obtain a copy of your Personal Credit File:
- Your full name
- Your date of birth
- Name of the organisation where you last applied for credit
- Your current employer (if not then your previous employer)
- Your daytime contact phone number
- Your current residential address
- Your previous residential address
- Your driver's license number
- Whether you want the file sent you by post, email or fax.
Veda Advantage may sometimes request further information before your credit file is sent to you, and hence the above times can sometimes take longer.