It is an extremely important document in that it can determine whether or not you are able to secure a mortgage, car loan or other credit facilities, as well as what interest rate you’re charged for those loans. But many people question “who can access and view my credit file”?
Lenders and merchants can buy memberships to credit reporting agencies so they can quickly and easily do a credit history check on potential customers. Credit bureau members have to sign a contract stating that they will only access credit files when they are authorised to do so by the applicant. This is again why your credit file is so important. You ask “who can access my credit file?” The answer: nearly everyone who can offer you credit. The types of organisations that can access credit reports and perform a credit history check are organisations with a legitimate business that need to check your credit history. These organisations include:
These include banks and credit unions, such as Commbank, St George, ANZ, NAB and Westpac.
These include Visa, American Express, MasterCard and others.
For finance on new, used and refinanced car loans.
This can include accountants and solicitors.
For a government license or benefit (if the agency is required to consider your financial status)
Usually can only look at your name, address, former addresses, and current and former employers.
Each time a credit report is viewed by one of the above organizations, a “hard inquiry” gets recorded on your credit report. When you request to view your own credit report, it is considered a “soft inquiry.” The more number of hard credit reporting inquiries that show up on your credit report, the worse your credit score may become. So if you’re wondering “should I fix my credit file to improve my rating?”, speak to a certified specialist for comprehensive advice.
Removing negative listings from your credit file can open up a huge number of financial opportunities for you. Clean Credit specialises in helping people have negative credit items such as defaults and judgements removed from their credit files. Through our credit repair service, we can help you regain control of your financial future and have a much higher chance of securing credit.
Our blog is chock full of articles by industry experts, all with the aim to improve your credit rating. If you need help with your credit history, our blog is a great place to find the credit resources you need. And as they say “knowledge is power”.
A higher score means you will pay on time, but you’ll pay late or never, when your score dips below the average—that’s how lenders see it. Perhaps you’ve read too many positive vs negative credit rating comparisons already and you understood why it’s so important for lenders. So, this time, we’ll give you fresh ideas on how you can turn your negative rating into a positive one based on your credit rating.
There are many reasons why debtors want to find out their credit rating for free. Whether they want to use it for credit application or for employment, one thing is certain- credit rating and the contents of a credit report are vital tools in financial planning.