Credit Blog

Credit Blog

Find out more about credit and how you can improve your financial situation to get the things you want out of life

Making your repayments on time

/ credit basics credit report credit score personal finance

While the idea of putting through payments each month might not seem like such a big deal, credit can become a burden should you begin to fall behind.

Is it worth getting a credit card for the rewards?

/ personal finance

One of the methods banks can use to increase the use of their financial products such as credit cards is association with a rewards scheme. Can you benefit without your debt stacking up?

Is it ever a good idea to choose interest free?

/ personal finance

The allure of an interest-free deal is understandably strong, but like any form of credit, it always comes with terms and conditions, so it's important to do your research.

When should you not use your credit card?

/ personal finance

A credit card can be a useful tool. But are there some times when it's better to refrain from pulling out that shiny plastic? Here we look at when, and when not to swipe your card.

Understanding car finance for buying a new car

/ personal finance credit report

Not everyone will have the cash available to pay for a new vehicle straight away. But how can car finance impact your credit history? Here we take a closer look.

Safe credit card use overseas

/ fraud & identity personal finance

One of the most attractive options for travellers when taking money overseas is most likely to be the credit card. Here we look at how you can use your cards securely overseas.

What you should know before applying for a home loan

/ personal finance credit report

Taking out a home loan is common practice for many Australians, but there is a lot that goes into getting the nod from a credit provider.

Should I get a credit card?

/ credit report personal finance

Responsible use of a credit card without an outstanding balance or a series of late payments can act as an endorsement for future credit.

Using credit cards to build your credit profile

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Credit cards can be an excellent way of building a strong credit history, as long as you stay on top of your payments.

Why have I been declined credit?

/ credit basics credit report personal finance

There are number of reasons why a lender may decide to decline your credit application. When you first apply for credit, credit providers such as lenders, phone or utilities companies may check your credit history alongside the information you have provided as part of your application process.

Understanding the new credit reporting system

/ credit basics credit report credit score personal finance

Comprehensive credit reporting changes mean consumer credit reports can now include ‘positive’ credit information such as if you make your credit card and loan repayments on time. Previously personal credit files could only hold ‘negative’ information like credit enquiries (applications) and defaults. 

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You can get a free copy of your personal Equifax credit report:

  • if you have been declined credit in the last 90 days; or
  • if you have had an item corrected on your Equifax credit report; or
  • once every 12 months.

If you do not meet the criteria, a once-off Equifax credit report is currently available for free.

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An individual has the right to obtain a free copy of their credit file either personally or through an Authorised Access Seeker in the follow circumstances:

  • Once every 12 months
  • If their credit application was declined (the free credit file request must be made within 90 days from the date the application was declined)
  • If the individual has lodged a correction request and has been advised that their Equifax credit report has been corrected

If an individual does not meet the criteria, a once-off Equifax credit report is currently available for free.

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Your client is eligible for a free Equifax Credit Report.