Australia's new credit reporting system means more data is available to lenders, but only under certain conditions, thanks to Australia's strict privacy laws. It's a far cry from the Wild West scenario in place in countries where data is up for sale to the highest bidder.
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By the time most people are in financial difficulty, it's too late. Open banking will help lenders identify borrowers at risk and offer better terms.
"Open banking" and "comprehensive credit reporting" are two buzzwords doing the rounds but what is the difference between the two and how will they affect the average consumer?
Comprehensive credit reporting has kicked in, so how will it affect your credit report? And is that different to your credit score? We answer your questions.
How can you access your credit score? Do lenders check your credit score and your credit report? We answer your questions.
Australia's credit reporting system is changing. Here's what you need to know about comprehensive credit reporting.
If you've ever made a late payment on a loan or credit card, your bank could soon be forced to tell other lenders, and you could face higher interest rates.
Were you late paying a credit card bill two years ago? New credit score rules mean you could find it harder to take out a loan.
While I'm all for competition, the idea that a consumer can now have three different credit scores seems a little ridiculous.
Looking past her partner's money habits left one NSW woman divorced and $30,000 in debt. These are the financial red flags you can't afford to ignore.
