Your free Credit Report – how to see what a lender sees

I applied for my credit report 2 weeks ago – it is free if you are prepared to wait for them to get it for you (just got it!). If you need it urgently you can pay.

How to apply

Go to www.mycreditfile.com.au  and go to the details of what you need to provide to get your free credit file.

You can then fax or mail the request to the address listed at mycreditfile.com.au.

Why would I bother?

When you apply for a loan or credit card – the lender will check your credit file.

This is a good way to check what they will see – especially if you have been knocked back (or are just curious)

Errors on your credit file

If you do find items on your credit file that are incorrect – you can request that they be taken off. See www.mycreditfile.com.au for more details.

Tips on keeping your credit file clean

  1. Make sure you get all your mail.

After you move out –  Try to update addresses for all bills such as credit cards/loans, telephone, internet, electricity, gas, insurance

If you own your home and you move – council rates, water rates, strata rates

 Or if you are a regular mover – you might wish to get a Post Office Box. These can be as cheap as $100 a year.

  1. Pay bills even if you are in dispute.

You should be able to request a refund or credit of money paid for a disputed fee (particularly with bigger companies). Is it worth not paying $300 to the phone company if you don’t like their charges – if it means you get knocked back for a loan in 4 years time.

What I found looking at my credit report

I have a few loans: car , 2 credit cards, Home Loans, etc.

I was surprised at how much these people check up on you . I thought if you made repayments regularly they wouldn’t worry about you – but the providers of the above loans check my credit file every  6 months. I guess because it is their money – they want to see what you are up to.

Posted in Debt, Property
  • Ed

    Thanks for this. I had to get mine from Dun & Bradstreet as well to compare – you can get it online for free: http://www.checkyourcredit.com.au

  • scottkay

    Thanks Ed – can you provide the link to show how to get the free Dun & Bradstreet report (the main reports cost $30 or $60 currently)? Although mycreditfile has charges as well you can get a free report by following the instructions here: http://www.mycreditfile.com.au/home/free-credit-file.dot
    Scott

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