You can request your credit report and credit score online and receive it instantly pending you can successfully verify your identity.
If you're applying for a new line of credit, it's important to check your credit score and report before you apply. If you need your credit report quickly, you can use this guide to compare how you can get it within 24 hours in Australia.
How can I receive my credit report within 24 hours?
You can order and receive your credit report within one business day from any of the major credit reporting bureaus in Australia. This includes Experian, Equifax and illion.
| Credit reporting bureau | Cost | Process |
|---|
| Equifax | Free | You can get a free copy of your credit report once every twelve months, if you've been declined credit in the past 90 days, or if you've had an item corrected on your Equifax report. Provided your identity can be successfully verified, you'll usually get your report within one day. If you do not meet the eligibility criteria for a free report, you can pay a one-time fee of $6.95. |
| Experian | Free | You get a copy of your Experian credit report instantly for free through Finder. Through Experian directly you can request your report by email or by post and will receive it within ten days. You can access your Experian report for free any time. |
| illion | Free | You can request a free copy of your credit report online once per year and provided your identity is successfully verified, you will see your details right away. You can also request it by post and it will be sent to you within three business days of the request. |
This information is correct at the time of writing, but make sure to check the credit reporting bureau website directly for all of the details.
You'll need to complete a form before you can receive your credit report. You'll be asked to provide personal information and relevant documents. The documents provided must be copies or digital scans of the original documents.
- Personal details. Including your name, date of birth and preferred method for the credit report to be delivered.
- Proof of identification. You'll need to provide proof of identification such as your Australian driver's licence number, passport, Medicare card, proof of age card, Roads and Maritime Services photo card or public employee photo ID.
- Residential information. You'll need to provide details of your previous and current residential addresses.
- Employment. You may be asked to detail your current and previous employer.
- Contact information. You'll also need to provide your daytime telephone number.
A credit report contains numerous information that can be grouped into three sections namely; consumer credit, commercial credit, and the public credit sections.
- Personal information. Your name, date of birth, where you live, your employment information, your driver's licence and your gender.
- Consumer credit information. If you hold or have applied for consumer credit it will be listed on your report. The listing will include details such as the type of credit, the date the account was opened and closed, the credit limit, the monthly repayment history and if any accounts are overdue.
- Commercial credit information. This section details applications made for commercial credit, active credit accounts and any overdue accounts you might have.
- Public record information. Public record information shows any court judgments, debt agreements, bankruptcy, and insolvency that is applicable to you. However, when a credit report is compiled, public credit forms part of the consumer credit section.
- Default notes. If you have any overdue notes, missed payments or serious credit infringements, they will be listed on your credit report.
Why is it important to check my credit report?
It's important to check your credit report at least annually. However, you should always review your credit report and score before you apply for a new line of credit. When you check your report, you can look out for false information that could be hurting your credit score. If you see any suspicious-looking information on your credit report, you can flag this with the credit reporting bureau as it could be an instance of identity theft.
As well as identifying errors, it's also important to check your credit report before you apply for a loan or credit card so you have an idea of the likelihood of whether you'll be approved or not. Most Australian credit cards require applicants to have a good credit history, but you can find some loans that are designed for applicants with bad credit. If you do have a low credit score, check out Finder's guide to credit repair for the steps you can take to get your finances back in order.
Most Australian credit reporting bureaus offer ways to order a copy of your credit report instantly. As this service usually comes at a cost, make sure to compare your options before you pay and review your report carefully once it arrives.
Picture: Shutterstock
