Comprehensive Credit Reporting (CCR)

Comprehensive Credit Reporting (CCR) is changing how customer credit information is reported in Australia and customers may see a change to their credit report.

Comprehensive Credit Reporting (CCR)

From 1 July 2021, we will start sharing additional credit information about customers with credit reporting bodies as part of the Comprehensive Credit Reporting (CCR) changes.
We have always reported information such as the date of your loan application, or if your loan is in default. Under CCR we will also now report:

  • When your loan accounts were opened and closed
  • Your current credit limits
  • Your repayment history, including whether you've made payments on time

Frequently asked questions

Credit Reporting is the sharing of customer information regarding credit products between credit providers and credit reporting bodies.

Credit reporting bodies are independent organisations that securely report credit and personal information to credit providers to help them assess a credit application.

CCR is a reporting system where credit providers, such as Banks, are required to share customers' credit histories. This helps financial institutions make more informed lending decisions. Under Comprehensive Credit Reporting, credit providers share both positive and negative credit data.

Auswide Bank will commence Comprehensive Credit Reporting from 1 August 2O21

Auswide Bank is adopting CCR in line with industry standards and legislative obligations, and as part of our commitment to responsible lending to our customers. All the major banks have already adopted CCR and other credit providers are working towards it.

Under CCR we share your credit information with credit reporting bodies. This information gives credit providers a more comprehensive view of your credit history, enabling them to make a more informed assessment of your ability to repay the loan.

If your payment is more than 14 days late, and your repayment history has been provided to a credit reporting body, then this will appear on your credit report issued by that body.

Yes, if you were in default as of 1 July 2021, and the default has been reported to a credit reporting body, then this will appear on your credit report issued by that body.

We will not report credit information on guarantors. Only a borrower's credit information is reported.

The repayment history information on your credit report will reflect what was agreed under the financial hardship arrangement. The credit report will also place a "flag' alongside your repayment history information that means that the repayment history is associated with a special arrangement. In the credit report this will be referred to as 'financial hardship information'.

If you'd like to see your credit profile, you can request one free credit report from any credit reporting body per year. You can also contact Credit Smart to obtain a copy of your credit report. New information that Auswide Bank will report under CCR will be visible on your credit report by the end of the year.

No, you cannot opt out of Comprehensive Credit Reporting. To learn more about Comprehensive Credit Reporting you can visit the Credit Smart website.

Yes, this is covered under the Privacy Act and the Auswide Bank Privacy Policy.

Your credit data can be viewed by credit providers when you apply for credit and a credit check is conducted as part of your credit application process.

Your data will be securely stored by Credit Reporting bodies that we have entered into agreements with.

If you believe there is an error on your credit report, you can contact the credit reporting body where you obtained your report, or contact the financial institution that provided the incorrect information and ask them to investigate.

If you're having trouble making your repayments on time, please visit Making Loan Payments for help.

Want more information?

To learn more about Comprehensive Credit Reporting you can visit the Credit Smart website