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Comprehensive Credit Reporting

Comprehensive Credit Reporting (CCR) enhances Australia's credit reporting system and allows for additional information to be securely supplied between credit providers and credit reporting bodies. CCR helps to recognise people displaying sound credit management and enhances responsible lending requirements and borrowing practices.

About CCR

Westpac started CCR as part of a government-initiated industry change to provide a more complete picture of consumers’ credit history. Customers may now see additional information on their credit report.

Prior to CCR, a credit report contained any credit enquiries, defaults and serious credit infringements.

The additional information shared for CCR includes account open and closed dates, types of credit, credit limits and up to 24 months of repayment history. In 2022, financial hardship information will also be shared for credit reports across the industry.

Westpac is supplying CCR information for all consumer credit products including credit cards, Flexi Loans, personal loans, home loans and auto finance loans.

What CCR means for our customers

CCR means it's more important than ever to pay your bills on time so your repayment history information is shown favourably on your credit report.

Setting up automatic payments, such as Card Autopay, can take the hassle out of remembering to pay your bills on time and help you to keep your payments on track.

You may also see a change to your credit score as a result of CCR. Your credit score is a number generated by that credit reporting body that is a summary of the information on your credit report. The higher the score, the better your credit history is. Your credit score is likely to change more regularly with CCR due to additional information being supplied to credit reporting bodies each month. 

CCR and hardship customers

We have been supplying repayment history information since April 2018, however, in line with an agreement with the Government we are currently excluding this information for accounts subject to a hardship arrangement.

The Government has now legislated how hardship should be reflected in consumer credit reports across the industry. This change takes effect mid-2022 and if it affects you we will let you know.

If you’re having trouble making your repayments, we can help. Please contact Westpac Assist for a confidential conversation about your situation.

Credit reporting in Australia

When you apply for credit, credit providers may use information from your credit report to inform their credit decision and the amount of credit offered.

Westpac works with three credit reporting bodies in Australia:

Credit reporting bodies are businesses that give credit reports to credit providers to help them decide whether to lend money. Each credit reporting body will have a privacy policy on its website which outlines how your information is used.

Get a free copy of your credit report

You can request a free copy of your credit report from each credit reporting body at least once every three months. You can also request a free copy if:

  • you’ve been refused credit within the past 90 days, or
  • your credit-related personal information has been corrected.

Outside the above, a credit reporting body may charge a fee for generating your credit report.

Each credit reporting body has its own credit report format and method for calculating a credit score so you may want to see how they compare.

Checking what’s on your credit report is important to see if there are any fraudulent applications made in your name and to check your information is correct. If you see something that doesn’t look right on your report, you can contact us or the credit reporting body to get it looked into. If there is a mistake, we will fix it.

Further information and support

The Credit Smart website has further information on CCR and credit reporting in Australia or you can contact us.