What Sort Of Information Is Contained In My Credit File?

What Sort Of Information Is Contained In My Credit File?

Personal information is abundant in credit reports. It’s critical to comprehend what’s in your credit report and who has access to it. This article will describe the contents of a credit report as well as how to protect your personal information.

The information in your credit report is divided into three components:

(1) What’s in a credit file’s consumer credit part?

Inquiries made in the last five years for household, personal, or family reasons or to buy, re-finance, or renovate a residential investment property are examples of such loans. Any debts, including major credit infringements and obligations owing by 60 days or more.

Credit account information including:

  • Account for individual credit, such as a personal loan or credit card
  • The account’s open and closing dates are shown.
  • The amount of money you can borrow is determined by your credit limit. Your credit limit is the maximum amount of financial assistance available for an account. If you accept a higher credit limit, it will be recorded on your credit history.

It’s critical to pay your credit card bills on time each month to avoid extra fees. Many credit cards and other lending accounts, such as mortgages, keep track of monthly payments. This will show whether or not you paid your bills on time.

Please be advised that any changes will not immediately appear on your credit report.

¬†(2) What’s in the commercial credit section of a credit report?

  • Enquiries about commercial credit or risk management are common. In general, these queries pertain to you as a single trader, business partner, property investor, or company director. Any outstanding commercial credit accounts owing to you or where you have gone guarantor are listed.
  • The names of credit providers currently providing loans to you
  • Enquiries made by a third party, such as a finance broker or other authorised representative representing you.
  • Notes regarding matters under investigation, or previous investigations where no amendment was made to your credit file and you requested a note be added to your file.

 (3) Public record information

Inquire about bankruptcies, liquidations, financial settlements, court writs and judgments if you’re looking for information in public records. This data will be included in your credit report’s consumer credit section.

We hope that this article was beneficial and gave you a deeper knowledge of what’s on your credit report. Please don’t hesitate to contact Credit Repair Ausvengers if you have any questions or require advice on credit repair. Our credit repair experts are more than happy to assist you in getting your finances back on track.

If you’ve been declined credit, don’t worry. There are steps you can take to improve your credit score and increase your chances of being approved for credit in the future. Credit Repair Ausvengers can help remove negative listings from your credit file, so you can start rebuilding your credit history. Contact us today to learn more about our services.