What your credit file reveals about youWhat is a credit rating and how does it impact youMost individuals in Australia who have applied for finance would have a credit file. Different credit reporting agencies exist in Australia, the main reporting agency is VedaAdvantage (previously Baycorp). What your credit file reveals about youWhen a formal application for finance is made, a record shows up on your credit file, disclosing the lender or financial institution you applied to and the amount, and date and type of finance sought. What does not show up is whether you were approved, or whether you decided to proceed with the loan. Only authorised finance providers are allowed to access this record. If you are late for payments on a loan, or fail to pay a utility bill after an extended period, it is possible for that finance company to record a default on your file. This may impact your ability to obtain credit in the future. Need a copy of your veda credit file?If you require a copy of your credit file, you can visit veda at www.vedaadvantage.com |
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