Your credit file is an important part of your financial identity. A poor credit record makes it difficult to access finance for larger purchases like a car or a home and may also mean you are only accepted by less competitive lenders that may charge higher fees or interest rates.

A lot of information is recorded on your credit file including loan applications, late loan repayments, defaults and details about your identity. It's important to check all of this information to make sure it is accurate

You can check your credit report for free with finder and check it at any time in your finder account. We'll also let you know if something on your report changes.

How do I check my credit report for errors?

The first step is to request a copy of your credit file, which you can do for free with finder. The credit report you receive when requesting it through finder will be delivered through Experian and you'll receive it in a few minutes.

You can also get a free copy of your credit file once every 12 months or within 90 days of having a credit application rejected if you'd prefer to request it directly from a credit bureau. You will receive it within 10 days.

Once you have your credit file it will include the following information:

• Debts or loans. Check that each debt is yours and that the amounts are correct.
• Defaults. Defaults can only be listed for debts over $150 that are overdue by 60 days. Creditors must also inform you in writing before listing a debt as a default, so check that you received notification.
• Serious credit infringements. A serious credit infringement can only be listed six months after it is listed as a default and only if the debtor is unable to contact you at your last known address. Make sure the creditor took the correct action before listing.
• Credit applications. Make sure the applications listed were made by you. If they weren’t, someone may be using your identity to apply for loans and you need to address it right away.
• Name and date of birth. Make sure both are accurate.
• Current and previous addresses. Being contactable is essential to maintaining a good credit file, so make sure your details are up to date.

What mistakes might I find on my credit report?

Here are some common mistakes you may find in your credit file:

• Incorrect address. This is a simple error that can occur if you move house frequently.
• Incorrect default. This may be listed due to a processing error on the bill collectors' behalf. It can happen if you use third-party services to pay bills (eg, a property manager) or if a credit card expires.
• An expired listing. Defaults only stay on your credit file for five years, after which they expire. Make sure that any legitimate listings are not beyond their expiry date.
• Fraudulent credit applications. If your identity has been stolen it may have been used to apply for loans or services. You may find multiple applications, or even loans or unpaid services that you never applied for.

How can I keep my credit file free from errors?

The simplest way to keep your credit file error-free is to check it regularly. If you request your credit report through finder you can access it again at any time in your finder account. We will also notify you whenever something on your report changes so you can keep an eye out for inaccuracies.

You also need to make sure that all payments and debits actually go through, don’t just rely on someone else or automatic transfers to pay your bills. Physically check to see if the money has left your account.

Your credit report is important and it should be checked regularly for accuracy. If you find a genuine mistake it is relatively simple to have it rectified by any of the credit reporting bodies. Doing so will help ensure that you’re treated fairly by lenders.

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