Quick answer
You are entitled to a free copy of your credit report from each credit reporting body once every three months. Request it from Equifax and Experian, because they can hold different information. You can also get a free copy if you were refused credit in the past 90 days or your file has just been corrected.
Key points
- A credit reporting body must give you your report free once every three months.
- Free copies are also available after a refusal of credit in the past 90 days or after a correction.
- Equifax and Experian are the two main bodies and may hold different information.
- Repayment history is held for two years; defaults and enquiries for five.
- Errors are free to fix, and only incorrect information can be removed.
What is a credit report, and who keeps it?
A credit report is a record of how you have handled credit. It lists the loans and cards you hold or have held, how you have repaid them over recent years, the credit applications you have made and any serious events such as defaults or court judgments. In Australia it is compiled by credit reporting bodies using information that lenders and others supply.
Moneysmart names Experian and Equifax as the two main bodies, and notes that each may hold different information about you. That detail matters: a clean look at one report does not guarantee the other matches.
Can I really get it for free?
Yes. The OAIC explains that a credit reporting body must give you your credit report free once every three months. Moneysmart’s guidance says the same and suggests checking at least once a year.
There are two extra situations in which a free copy is available, according to the OAIC:
- You were refused credit within the past 90 days.
- Your credit-related personal information has been corrected.
At other times a body may charge a fee, though the OAIC says that fee must not be excessive. Equifax’s own page also lists a free report where an application was declined in the past 90 days, or a correction was made, or you have not requested a free report in the last three months.
How do I ask for it?
The OAIC lists the contact points for the two main bodies:
| Body | Phone | Online |
|---|---|---|
| Equifax | 138 332 | equifax.com.au |
| Experian | 1300 783 684 | experian.com.au |
Equifax’s page adds that you can order online at mycreditfile.com.au, call and follow the prompts, or post a request to its North Sydney address. Check each body’s site for the identity details it asks for, because requirements can change. Ask both bodies in the same week so you can compare the two files together.
What will I see when it arrives?
Reports vary in layout, but they generally include:
- Your name, date of birth, current and past addresses.
- Credit accounts, with limits and the last two years of repayment history.
- Credit applications and enquiries.
- Defaults, court judgments and any insolvency information.
- A score, on a scale that Moneysmart says runs from zero to either 1,000 or 1,200.
Moneysmart also explains that a credit rating is the band your score falls into, from low through to excellent. Treat the numbers as a summary and the listings as the substance.
How long does information stay on the report?
The OAIC publishes the periods:
| Item | How long it stays |
|---|---|
| Credit enquiries | 5 years |
| Defaults | 5 years |
| Repayment history | 2 years |
| Court judgments | 5 years |
| Financial hardship information | 1 year |
| Serious credit infringements | 7 years |
| Bankruptcy | The later of 5 years from the day it began or 2 years from the day it ended |
Moneysmart adds that a missed payment is one not made within 14 days of the due date, and that a default can be listed for a debt of $150 or more that is at least 60 days overdue after the provider notifies you. Paying a default does not remove it, but it then shows as paid.
What should I check first?
Go through the report slowly with a pen:
- Personal details. Are the name, address and date of birth right?
- Every account. Is each loan, card or debt actually yours?
- Balances and limits. Do they match your statements?
- Repayment history. Any late marks you do not recognise?
- Defaults and judgments. Are the dates and amounts right?
- Enquiries. Do you remember each application?
Moneysmart points out that debts you do not recognise might be identity theft. If you see something suspicious, act promptly and read our guide on protecting your credit score.
What if I find a mistake?
Contact the credit reporting body, explain the error and attach evidence such as a statement or a settlement letter. Moneysmart confirms this is free and that only incorrect information can be removed. A correct default stays for its full period.
Once a correction is made, the OAIC notes you can obtain a further free copy of the report to confirm it. Keep a record of each date and reference number. If the issue is with the lender rather than the body, you may need to raise it with the lender as well.
What if I think someone is using my identity?
The OAIC explains that you can ask for a ban on your credit report, which lasts 21 days from your request and can be extended. Requesting a ban is free, and the OAIC recommends applying to all the bodies, or asking one to pass your request on. During a ban the body generally cannot use or disclose your report for credit checks, which can make applying for credit harder while it lasts.
If you think a ban is needed, do it before a loan application, not during one. Tell your broker so the timing can be planned.
Why read it before applying for a loan?
Lenders read your file before you do if you let them. Looking first means you can fix errors, prepare explanations and choose lenders that suit your history. It also tells you whether you are in good shape or need a plan.
If you have already been declined, you can usually get a free report within 90 days of that decision, and our guide on what to do if your loan is declined shows what to do next. Where history is the issue, pages on bad credit home loans, bad credit personal loans and private loans with bad credit explain the paths we look at.
What mistakes should I avoid?
- Checking only one body. The files can differ.
- Paying to see your own report. Free access is your right under the rules above.
- Paying a repair company. Moneysmart warns against providers that ask for payment or card details.
- Ignoring small items. A forgotten account can matter.
- Leaving it until you are declined. Early checking gives you time.
Can I see an illustrative example?
This is illustrative only and not a real person. A couple planning a refinance order their reports from both bodies. One report shows a phone account marked as a default; the other does not list it. They pull the statements, find the debt was paid, and ask the body to correct the entry. A few weeks later they request a fresh copy, free because of the correction, and the listing is gone.
Their broker now works from clean files rather than discovering the issue mid-application. The point is not luck; it is the order of events.
What happens after I have my reports?
Bring both to the conversation with your broker, along with a list of current debts. Ownright Custom Finance can read the files with you, explain what lenders are likely to see and suggest a sensible timeline. If you would like us to do that, use our apply page. You can also read our guide on improving your credit score for the habits that build a stronger file over time.
Ready to move from reports to a loan?
Sounds like you’re looking to get a loan, and you have just done the groundwork that makes it easier. We’re the lending experts in loans for all kinds of credit histories, so click here to see if you qualify. We will look at what is available once we have read your situation.
Frequently asked questions
How often can I get a free credit report?
Under Privacy Act credit reporting rules explained by the OAIC, a credit reporting body must give you your report free once every three months. You can also get one free if you were refused credit in the past 90 days or your credit information has been corrected. Other times, a reasonable fee can apply.
Which credit reporting bodies should I contact?
Moneysmart names Experian and Equifax as the two main bodies and says they may hold different information, so it is worth checking both. Equifax can be reached on 138 332 or at equifax.com.au, and Experian on 1300 783 684 or experian.com.au. A third body, illion, also operates in this space.
Will checking my own report affect my score?
Asking for a copy of your own report is not the same as applying for credit. Your report lists credit applications you have made and requests from credit providers to see it, so it is formal applications that matter. Check your own file whenever your free allowance permits, and avoid unnecessary applications.
What is the difference between a credit report and a credit score?
The report is the detailed record of accounts, applications, repayment history and listings. The score is a number summarising it, which Moneysmart says runs from zero to either 1,000 or 1,200 depending on the body. Lenders read the report itself, so look past the score to the details.
What if my credit report has a mistake?
Contact the credit reporting body and ask for the information to be corrected. Moneysmart says this is free, and that only incorrect information can be removed. Companies that charge to remove negative listings are unnecessary because you can raise the correction yourself. Keep copies of any evidence you send.