Check your credit rating

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A good credit rating allows you to get more credit in the future when you need it. This will help you to finance a car, rent a house, get a new credit card and sometimes even get a job. So how do you check your credit rating?

The easiest way to check your credit rating is to obtain a credit report. To do this you need to contact a credit reporting agency. The credit reporting agency will then ask for information, such as your name, address, telephone number and possibly your licence number. Using this information the credit reporting agency will then draw up a credit report and send it to you, usually within ten working days.

The Federal Government website page on credit reports suggests two possibly credit reporting agencies you may wish to use. We have looked at both of these websites and reviewed the experience.

Veda Advantage
Although it states on the Federal Government website that a credit report is generally required to be given free of charge, Veda Advantage does not offer a free credit report. You can only order a credit report with a turnover of one business day for $41.95.

Dun & Bradstreet
This credit reporting agency offers both a ten-business-day-turnaround credit report free of charge, and a fast track report which is available online after one business day. This site is also simpler to navigate, and it does not push you to purchase its other products.



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