Three Credit Files held in your name
There are three credit reporting agencies that hold a copy of your credit file. These are Equifax (formerly, Veda Advantage), Dun & Bradstreet and Experian. When these credit reporting agencies receive your information from the lender/service provider, this is then “filed” under your individual name. This is then referred to as your credit file.
Your credit file is updated by the credit providers you apply to credit to, with details such as:
- Your personal details (name, date of birth, drivers licence, address history)
- Details of any joint applications you have made with someone else
- Credit applications you have made on your own behalf (credit cards, personal loans, housing loans etc.) This includes any loans you’ve agreed to be a guarantor for.
- Bank and finance company arrears (loans or debts that you are overdue in paying or those you have now repaid or settled).
- Overdue Accounts (Defaults)
- Debt agreements
- Commercial and business loan applications you’ve applied for
- Court Judgments
Your personal details are kept on your credit file forever.
All other details have specific expiry dates ranging from 2 years up to 7 years.
Each credit reporting agency maintains their own files of consumer credit information so it’s possible you could have a credit file with all, some or one of the agencies.
Be aware that your credit file may not be exactly the same if you compare them from different credit reporting agencies because a lender/service provider may not send your information to every agency.