Business Credit Reports and Personal Credit Scores
A credit score is a number that summarises information in your credit history. Lenders use this score as a consideration when you apply for a loan or credit. All Australians have the right to check their credit reports for free once a year.
There are a number of reasons to check credit reports. In today’s day and age a real concern is identity theft. This is where someone takes your personal information and then uses that for gain. A recent example I heard was that people had used someones details to obtain two mobile phones with plans. They never paid the bills, meaning the persons credit score was damaged without their knowledge. It was discovered only when they were denied a loan and couldn’t understand why.
Credit Scores are available through a number of organisations in Australia. Each one is part of the index. You will also find a range of business and company credit reports to help create a risk profile.
In addition to a free credit report, a number of organisations also offer enhanced services such as alerts. These are premium services that will notify you if any personal information or details in your report changes. There may also be a premium if you wish to receive the report quickly rather than waiting.
To obtain your own credit score you will need to identify yourself. This may include the provision of identity documents.