How to Clean Your Credit Report

What is a credit report?

It’s basically your money report card.

It shows:

Any loans or credit cards you’ve had
If you’ve missed repayments
Any defaults
How much you currently owe
Every time you’ve applied for finance (yes, even those Afterpay accounts)

The better your history, the more likely lenders are to say “yes” to your application.

How to glow up your credit report

Here are some easy ways to keep it looking healthy:

Update your contact details — so you never miss a bill or end up with a sneaky default over a forgotten $180 phone payment.

Pay bills on time — anything over $150 that goes unpaid for 60+ days can be listed as a default. Set up direct debits so it’s one less thing to think about.

Chill on the finance applications — every loan, credit card, or “buy now, pay later” app you apply for gets logged. Too many in a short time = red flag for lenders.

(Pro tip: Use a mortgage broker — they can shop around without trashing your report.)

Got a default? Try this:

Defaults stick around for five years, but here’s how you might get one removed (especially if it’s been paid or added by mistake):

Step 1: Pay it off

Talk to the provider or debt collector and sort out the balance.

Step 2: Ask for removal

Call them up (ask for a supervisor!) and request the default be removed. If they say no and you think it’s unfair, you can escalate it to AFCA (Australian Financial Complaints Authority).

Step 3: Lodge a correction

Head to Equifax and use their free Personal Corrections service to fix any dodgy info.

Optional: Try a credit repair company like Clean Credit Australia — just keep in mind, they usually charge a fee and there are no guarantees.

Want to check your credit report?

You can get one free copy every year from Equifax.

Here’s the link: www.equifax.com.au

It’s a super easy way to see where you stand — especially before applying for a home loan.

P.S...

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