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Positive Credit Reporting is here



There is now another good reason to pay your bills on time! Comprehensive credit reporting (CCR) or positive credit reporting began on 1 July 2018.


This means that credit reporting will now include both positive and negative credit history.


In the past credit history has only included credit applications & negative information like payment defaults & serious credit infringements.


As of the 1st of July, the report will include up to 24 months of repayment history, dates accounts are open and credit limits.


So if you pay your bills on time, your credit report can potentially be used to your advantage when applying for credit.


An easy way of ensuring bills are paid on time is to set up automatic payments.


If you are worried that your credit history may be hampering you credit applications, there are ways to check the health of your credit report & potentially fix any incorrect information.


The Creditsmart website (www.creditsmart.org.au) has more information on managing your credit report & the new ‘positive’ credit reporting.

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