Who can add information to a credit report?
Only credit providers can add information to credit reports. It is mandatory for major banks to report credit information, while all other lenders that hold an Australian Credit Licence can report, but are not required to. ‘Credit provider’ is defined in section 6G of the Privacy Act.
Credit providers include:
banks;
organisations that provide credit, if providing credit is a substantial part of the business;
retailers that issue credit cards in connection with the sale of goods or services;
businesses that provide credit in relation to the supply of goods or services where the repayment of the amount of credit is deferred for at least seven days (e.g. utilities companies and telecommunication providers);
businesses that provide credit related to hiring, leasing or renting goods where repayment is deferred for at least seven days; and
assignees of credit providers.
Who can add information to a credit report?
Chapter: 5.9: Credit reporting
Contributor: Stephen Nowicki, Director of Legal Practice, Consumer Action Law Centre
Current as of: 1 September 2024
Law Handbook Page: 399
Next Section: What information is in a credit report?
