When did you last read your own credit report?
You have a right to a free copy every three months, from each of the bodies that hold one. Mistakes on it are common and they cost you money on every loan you apply for.
Every 3 months
you have a right to a free copy of your credit report
What this is
Your credit report is the record lenders read before deciding whether to lend to you and at what rate. It is assembled from what lenders report about you, which means it carries their errors as well as your history: a debt you settled that was never marked paid, an account you closed that is still listed, an enquiry from an application you never made. None of that corrects itself, and you only discover it when a lender says no or offers a worse rate.
Does it apply to you?
- Anyone planning to apply for a loan, a mortgage or a phone plan in the next year
- Anyone who has been declined and not told why
- Anyone who has had personal details exposed in a data breach
How to do it
- Request a free copy from each of the main credit reporting bodies. They hold different information, so you can have a report with both and they will not match.
- Read the list of credit enquiries. An application you did not make is the first sign of identity theft.
- Check that defaults and repayment history are actually yours and actually correct. A paid debt still showing as unpaid is the common one.
- If something is wrong, ask the credit reporting body or the lender to fix it. Correcting a mistake is free; do not pay a credit repair firm to do it.
Where people lose the money
Paying for a credit repair service.
Correcting an error is free. Ask the credit reporting body or the lender that listed it.
Checking one bureau and stopping.
There is more than one, they hold different information, and an error can sit on one and not the other.
Only looking when you need a loan.
Corrections take time. Looking a year before you apply is what makes the check useful.
Questions
Is it really free?
Yes. You have a right to a copy of your credit report for free every three months. Moneysmart suggests getting one at least once a year.
Does checking my own report lower my score?
No. Requesting your own report is not a credit enquiry by a lender and does not affect your score. Applying for credit is what creates an enquiry.
How do I fix a mistake?
Contact the credit reporting body or the lender that listed the information and ask for it to be corrected. It costs nothing. If they refuse and you disagree, AFCA can consider a complaint about a lender.
What is the difference between a score and a report?
The report is the underlying record of your credit history. The score is a number calculated from it, and different providers calculate it differently. The report is what you can actually check and correct.
Where these numbers come from
- Moneysmart (ASIC), Credit scores and credit reports · read 2026-09-23
Last gone over 2026-09-23. Figures change; the link above is always the current one.
Published by Income Lab, Melbourne. Responsible for this page: Jarred Krowitz.