Who Will Check Your Credit File?

A lender may wish to access this data as part of a credit check. Typically, a lender (such as a bank, phone company or credit union) will contact a credit bureau when they are required to conduct a credit check. For instance, if you have applied for a credit card or an interest-free personal loan, the lender will access your credit file to review your previous applications, as well as any overdue accounts.

Whenever you apply for credit or a loan in Australia and a credit provider does a credit check, it forms part of your credit history. Credit bureaus, such as Equifax, record your credit history in a credit file. You can easily access your credit file online.

Your credit file – or credit report – details your credit history, applications for credit and any overdue debt. Bankruptcies, court judgements and court orders are also noted, alongside personal identification information and commercial credit information.

Lenders, such as banks and credit unions, will usually run a credit check when you apply for a loan, such as a business loan. They will assess your credit history against their set of specific criteria, to help them determine your suitability for credit.