Comprehensive credit reporting was introduced in Australia to provide a clearer picture of your credit history. Previously, your credit report mainly showed your bad behaviour, such as defaults, other credit infringements, and bankruptcies. Your comprehensive credit report also includes positive information, like your repayment history. So if your credit report or credit history shows that you manage your debt well, this is viewable to credit providers. These changes may make getting credit or a loan easier- or harder for some people.

Suppose you have been paying off your credit card and loans on time. Credit providers can check if the credit you applied for is right for you. Better still, they may offer a loan with an interest rate and repayment schedule tailored to your circumstances. In that case, this positive history will count towards your creditworthiness - as you have demonstrated your ability to manage debts responsibly.

For more information on Comprehensive Credit Reporting, visit this website: https://www.creditsmart.org.au/comprehensive-credit-reporting/ or call us on 1300 999 787 or 07-35351700.