Your credit
report is a compilation of your personal
and financial data, gathered and
maintained by a credit reporting agency.
The information contained on your
personal credit report can mean the
difference between "approval" and
"decline" on your next application for
credit. Find out what kind of
information may be contained in your
personal credit report.
Of greatest interest to potential
lenders is the history of your past and
current credit transactions, including
any accounts with banks, retailers,
credit card companies, and other
lenders. This information is used by
creditors to determine your past
financial behavior, current level of
debt and available credit, and other
factors which may affect your
creditworthiness.
Your report also includes personal
information like your current and prior
mailing addresses, year of birth,
spouse's name, and employment
information. It may also contain public
record information, such as
bankruptcies, defaults paid or unpaid
or any monetary judgments against you.
A credit
reporting agency must take all
reasonable steps to ensure you can
access your report. You should be able
to get a copy of your credit report for
free by applying in writing to the
credit reporting agency.
Veda
Advantage or Dun and Bradstreet may take
up to 10 days to send your report from
the day they receive your application,
or sooner if you pay a fee. Tasmanian
Collection Service will provide you with
a free copy of your report if your
application relates to a refusal of
credit or the management of your credit
arrangements. Otherwise they charge a
small fee
You can
get a copy of your credit report from
these credit reporting agencies:
Veda Advantage (previously known as
Baycorp Advantage),
Dun and Bradstreet, and
Tasmanian Collection Service.
Laws help
regulate how your credit file is used, and
who can access the information in your
credit report. Only companies with a
legitimate reason to view your credit
information, such as banks, mortgage
lenders, etc., are permitted to access
your personal credit information.
Potential employers can only access your
credit report with your express
permission.
Due to the massive volume of information
processed by credit bureaus, inaccuracies
may occasionally occur. By reviewing your
credit report regularly and properly
disputing any discrepancies, you can help
prevent potential delays or denials in
receiving credit.