Keeping an eye on your credit report is one of the smartest things you can do for your financial wellbeing in Australia. Whether you’re applying for a home loan, signing up for a mobile plan, or just trying to stay on top of your personal finances, knowing your credit standing can make all the difference.
In this article, we’ll walk you through everything you need to know about how to check your credit report in Australia: what it includes, why it matters, where to get it for free, and how to fix any issues you might find. Let’s dive in.
What Is a Credit Report?
A credit report is a detailed record of your credit history compiled by credit reporting agencies. It includes information about your loans, credit cards, payment history, defaults, and even applications for credit. This report is used by lenders, banks, landlords, and sometimes even employers to assess your creditworthiness — in other words, how likely you are to repay a loan or pay your bills on time.
In Australia, your credit report is managed by one or more of the following credit reporting agencies:
- Equifax (formerly Veda)
- illion
- Experian
Each agency may hold slightly different information, so it’s a good idea to check your report with all three.
Why Should You Check Your Credit Report?
There are several solid reasons to check your credit report regularly:
1. Spot Errors Early
Credit reporting agencies handle large amounts of data, and mistakes can happen. You might find an incorrect address, a loan you never took out, or a payment marked late when it wasn’t. Fixing these errors promptly can protect your credit score.
2. Prevent Identity Theft
If someone fraudulently takes out credit in your name, your credit report is likely the first place it will show up. Keeping an eye on your report can help you detect identity theft early and take action.
3. Prepare for Major Financial Decisions
Thinking of buying a home or applying for a car loan? Lenders will look at your credit report. Knowing your credit standing beforehand allows you to fix any red flags and improve your chances of approval.
4. Improve Your Financial Habits
Seeing your financial behaviours in black and white can help you understand how your actions affect your credit profile and encourage better habits.
What’s Included in a Credit Report?
Your credit report in Australia typically includes:
- Personal details (name, date of birth, address history, driver’s licence number)
- Credit accounts (credit cards, mortgages, personal loans, etc.)
- Repayment history (whether you paid on time or not)
- Defaults (overdue debts of $150+ that have been unpaid for over 60 days)
- Credit applications (each time you’ve applied for a loan or credit card)
- Bankruptcy or court judgments, if applicable
- Credit score (in some reports)
How to Check Your Credit Report for Free
Under Australian law, you’re entitled to one free credit report every three months from each of the main reporting agencies. You’re also eligible for a free report if:
- You’ve been refused credit in the last 90 days
- Your credit-related personal information has been corrected
Here’s how to request your report from each agency:
1. Equifax
Website: www.mycreditfile.com.au
Steps:
- Visit the site and click “Get my free Equifax credit report”
- Fill in your personal details and verify your identity
- Submit the request (you may need to upload ID documents)
- Your report will be sent to you within 10 business days
Equifax also offers paid options with faster access and additional features, but the free version is sufficient for most people.
2. illion
Website: www.checkyourcredit.com.au
Steps:
- Click “Get started” on the homepage
- Register with your email and verify your identity
- Your credit report will be available to download, usually instantly
illion’s platform is user-friendly and often gives immediate access to your report.
3. Experian
Website: www.experian.com.au
Steps:
- Choose the “Request a copy of your credit report” option
- Complete the online form and provide ID
- Experian may email your report or let you download it through their portal
What Is a Credit Score?
In addition to your credit report, many of these services provide a credit score, which is a numerical summary of your creditworthiness. In Australia, credit scores typically range from:
- 0 to 1,200 (Equifax)
- 0 to 1,000 (Experian & illion)
Higher scores indicate better credit health. Here’s a rough guide:
| Score Range | Credit Health |
|---|---|
| 800 – 1,200 | Excellent |
| 700 – 799 | Very Good |
| 625 – 699 | Good |
| 550 – 624 | Fair |
| Below 550 | Poor |
Note: Lenders have their own criteria and don’t rely solely on this number, but it gives you a good snapshot.
What If You Find a Mistake?
If you spot an error in your credit report, act quickly:
- Contact the credit reporting agency with evidence of the mistake.
- Provide documentation (e.g., bank statements, letters from lenders).
- The agency is required to investigate and respond within 30 days.
- If unresolved, escalate the issue to the Australian Financial Complaints Authority (AFCA).
Fixing errors can directly improve your credit score and ensure you’re not unfairly penalised.
Pro Tips for Maintaining a Healthy Credit Report
- Always pay bills and loans on time
- Don’t apply for too many credit products in a short time
- Keep your credit card balances low
- Avoid defaulting on loans
- Check your credit report at least once a year
Final Thoughts
Checking your credit report in Australia is simple, free, and essential for maintaining control over your financial future. By staying informed, you’ll be better equipped to make smart money moves — whether that’s securing a mortgage, improving your credit score, or just understanding where you stand.
It only takes a few minutes to request your report, but the insights you gain could save you thousands. So why wait? Check your credit report today and take the first step toward stronger financial health.
