Managing your credit report
Your credit report contains information that may affect your chance of securing credit in the future, so it’s important to find out what’s on your file so that you can work to improve it if you need to.
Check your credit report regularly, so you know where you stand
Reviewing your credit report may alert you to any incorrect information and let you know if you have been the victim of identity theft. Consider signing up for Credit Alerts, so you are aware when certain changes occur on your credit report.
Paying your bills on time
This may be a simple and effective way to improve your credit report.
Before you apply for credit, check your credit report in advance
This may indicate whether your application will be successful. Often banks will include an application fee, so check your credit report first to help avoid these unnecessary charges.
Avoid applying for credit when you don’t need it
Credit providers may have a negative view of someone who has made a relatively high number of credit enquiries in a short space of time, for example, when you’re shopping around for a good deal, or still deciding whether you want to apply for a loan.
Get in touch with all your credit providers (banks, utilities, phone company, ISP, etc.) to make sure bills are re-directed to your new address. If you fail to pay these invoices a serious credit infringement or overdue debt may be listed on your credit report.
Making sure your information is correct
Veda takes reasonable steps to ensure that your credit report is accurate. However, it’s important that you check your report and let us know if there are any administrative errors such as an incorrect date of birth, or a misspelling of your name or street address. For more information, visit our Resolution Centre.
If you believe the credit information on your report is inaccurate – such as an overdue debt or enquiry listed by a credit provider – contact the credit provider directly and seek an investigation. What’s more, if you think you’ve been the victim of identity theft, contact the police as well as the fraud departments of the relevant credit providers so that they can conduct an investigation.
Veda’s Credit and Identity products provide you with a copy of your credit report as well as other feature to help you track and improve your report over time. Find out more here.
- Once every 12 months
- If you have been declined credit in the previous 90 days.
- If you request a correction and that correction has been made.