How to Read a Credit Report
General Finance Articles > Article: How to Read a Credit ReportHaving a clean, accurate record of your credit history is essential to getting approved for the best interest rates on loans. Check your credit report at least once a year, for any inaccuracies that can harm your credit and ability to get financing.
Everyone must know how to read a credit report. Australian credit reports are not difficult to understand, but you should know some basic elements of the report before reading it. Make sure to verify all of the information contained on your credit report.
First will be a listing of your personal information, address history, past and present employers, driver's license number and date of birth which are self-explanatory.
Second will be your current accounts including some overdue accounts, judgments and bankruptcy act information.
Following this section will be a listing of recent companies who looked at your credit history when you applied for new credit with them.
The consumer credit information section of the report will list your current accounts and let you know if any of them are overdue. This is the information that will most harm your credit, and the amounts listed will reflect the amount of money owed the creditor.
