Your credit rating

Baycorp Advantage (formerly Credit Advantage) is the largest credit reporting agency in Australia. It has over 4,000 subscribers that include banks, building societies, telecommunication providers, retailers, credit unions and credit cards providers. These subscribers can check your credit worthiness with Baycorp Advantage and are also provided with information on whether you have had previous problems repaying a loan.

If you have not applied for credit before or haven't used credit in the last five years then it's unlikely that Baycorp Advantage will have information about you. You can also get a copy of your credit file for free by writing to Baycorp Advantage and providing them with your:

• full name;
• current residential address;
• date of birth;
• driver's licence number;
• signature.

Baycorp Advantage
Public Access Division
PO Box 964
North Sydney NSW 2059
Alternatively, visit http://www.mycreditfile.com.au/

Credit rating – a case study

Shannon had not paid her Power and Water bill for several months because she had overspent at Christmas and wanted to pay off her credit card debt quickly.

However, when she wanted to get a personal loan from her credit union to buy a new car, the loan was not approved because Power and Water had provided Baycorp Advantage with a negative credit report.

Next | Previous