Comprehensive Credit Reporting (CCR) is a credit reporting system that provides lenders with more detailed and current information on a borrower's credit history.
With CCR, credit providers report both positive credit information, such as repayments made on time and credit limits, and negative information, like missed payments and defaults. This information is used by lenders to assist in their decision-making when you apply for credit.
CCR provides lenders with a more complete picture of a borrower's credit history, which can help them make more informed lending decisions and ultimately lead to better outcomes for both lenders and borrowers.
Your credit report will now be a more complete picture of your financial history, both positively and negatively.
If you make repayments on time, this behaviour will be reflected in your credit report. Alternatively, if you miss repayments by more than 14 days, this is also reflected in your credit report.
Your credit score may change more regularly with CCR as monthly account information is being shared.
We are transitioning to Comprehensive Credit Reporting (CCR) because it offers a more detailed view of a borrower's credit history by including both positive and negative credit information. This means we can assess creditworthiness more effectively, which helps us offer better-tailored financial products and services.
A credit report may include the following:
If you want to find out more about CCR, head to the Credit Smart website.
You can contact us to access your credit information, and you have the right to contact us at any time to address incorrect information. Amending incorrect information is free of charge.
Telephone: 13 77 28 Monday to Friday 8:45am – 4:30pm (AEST)
Email: [email protected]
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