Australians urged to check credit reports

By Mozo ·

Australians should check their personal credit reports at least once a year to improve their chances of securing a loan, an expert has said.

Christine Christian, chief executive of credit reporting agency Dun & Bradstreet, told News Limited that consumers ought to educate themselves about what actions can affect a credit report.

"Consumers should place themselves in a position to understand exactly what a lender will see, and this means the first step to applying for credit should be ordering a copy of your credit report," she said.

Ms Christian noted that credit reports are free to obtain, adding that once people are aware of their ratings, they can make better decisions about how much their credit transactions should be costing.

The advice should serve as guidance to Aussies looking to compare credit cards in search of the best deals. It follows recent research by Dun & Bradstreet which revealed that 86 per cent of Australians have no idea what their credit profile looks like.

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