Your credit history is more than a number.
Your credit report tells a story about how you have managed credit. Learn what lenders may see, the mistakes that can cause problems, which credit-reporting platforms may matter and what you can do next.
Australian-focused information · General information only
What is credit history?
Your credit history is the information recorded about your borrowing and credit behaviour. A credit report may include your personal details, credit applications and enquiries, credit accounts, repayment history, defaults and certain public-record information.
Your credit score is a number or rating calculated from information in a report. It is useful as a snapshot, but it is not the whole application. Different providers can calculate scores differently, and lenders also look at your income, expenses, debts, savings, deposit, employment and the loan you are applying for.
Different banks and lenders may use different credit-reporting platforms. Some place more emphasis on the detailed credit file, while others may not use a traditional credit score at all. I can help you understand which information matters for your situation and which lender may be the better fit.
Credit report
The detailed file behind the score: accounts, enquiries, repayment information, defaults and other relevant information.
Credit score
A number or rating based on information in your report. It can help you understand how a provider may view your file, but it is not an approval decision.
Serviceability
Lenders also consider whether the proposed repayments fit your income, expenses, debts, deposit, employment and overall circumstances.
Common mistakes that can hurt your file
One mistake does not define you. The earlier you find an issue, the more options you usually have to understand it, correct it or plan around it.
Multiple credit applications can create multiple enquiries. Plan your applications and understand what is being submitted before you apply.
Late payments and defaults can affect what appears in your credit history. Contact the provider early if a repayment is becoming difficult.
Phone, utility, credit-card and buy-now-pay-later commitments can still matter. Keep track of every account and its due date.
Check your name, date of birth, addresses, accounts, enquiries and amounts. A wrong or duplicated entry should be challenged.
An account or enquiry you do not recognise needs urgent attention. Contact the provider and the credit reporting body.
Closing accounts, changing limits or rearranging credit before understanding the impact can create unnecessary questions. Talk it through before making major changes.
How to keep your credit history healthy
Pay on time
Use reminders, direct debit or a regular money routine so repayments are not missed.
Know your commitments
Review open accounts, limits and subscriptions. Close or reduce unused credit only after considering how it fits your situation.
Apply deliberately
Ask questions first and avoid lodging applications you are unlikely to meet.
Check your file
Review your report regularly so errors, unknown accounts or outdated information do not sit unnoticed.
Act early on hardship
If repayments are becoming difficult, speak with your lender or a free financial counsellor before the problem grows.
Protect your identity
Use strong passwords, be careful with personal information and act quickly after a data breach or suspected fraud.
Request your credit file free of charge
Request a free credit file review with me. I can check your credit file and we can go over it together.
A review can help you approach the right lender with a clearer picture of your position and avoid unnecessary applications.
Request a report yourself
You can request a free credit report from the main credit reporting bodies every three months. Different bodies may hold different information. MoneySmart explains how to request your reports. If you would like help understanding them, we can go through them together.
Talking to me does not create a credit enquiry. I do not lodge a credit application or create a credit enquiry on your file until you authorise me to proceed with an application.
Your identity details, accounts, enquiries, repayment history, defaults, public-record information and any organisation that has accessed your file.
If something looks wrong or needs attention, I can explain the next steps and where to seek a correction. Please do not email passwords, identity documents or unredacted sensitive information.
Why the number is not all that matters
A score is a useful indicator, not a verdict. A lender may look at the detail behind the number and how it fits with the rest of your application.
A high score does not guarantee approval.
A lower score does not automatically mean a loan is impossible either. The right next step depends on the information in the file and the rest of your position.
The best plan is based on the facts, not just the headline number.
Want to know what is in your file and what to do next?
I can help you go through the information you have, identify anything that may need attention and talk through what can be done, what you may be able to afford and what a clear plan forward could look like.
Please do not email passwords, identity documents or unredacted sensitive information. We can discuss a secure way to share only what is needed.
Important disclaimer
This page is general information only and is not financial, legal, credit-repair or personal advice. Credit reporting rules, lender policies and assessment methods can change. I cannot promise that information will be removed, that a score will change or that a loan will be approved. Always check your report directly with the relevant credit reporting body and obtain professional advice about your own circumstances.