Changes to Credit Reporting Legislation Talk to us Phone us Email us Breadcrumbs UniBank About Us Member news & media 2018 Changes to Credit Reporting Legislation 17 May 2018 17 May 2018 Changes to Credit Reporting Legislation From 1 July 2018 the Australian Government has mandated a change to Comprehensive Credit Reporting (CCR), which you may also hear being referred to as positive credit reporting. This will require banks to report on your positive and negative credit history to give a broader and more balanced view of your credit record. How will the changes impact you? Before Comprehensive Credit Reporting your credit history included: Credit enquiries (applications for credit and credit contracts) Negative information (overdue accounts, defaults and significant credit infringements etc.) Under the new reporting system additional information will be supplied to provide a deeper understanding of your credit profile. These include: Dates of accounts being open Type of credit facility (personal loan, credit card, home loan etc.) Credit limits Details of monthly repayments Having access to this deeper level of information on your credit history will enable us, and other banks, to ensure we lend responsibly and provide you with credit products that meet your requirements. Recording your credit information As a result of the move to positive credit reporting from 1 July 2018, if you have a loan or credit facility with the Bank we have commenced reporting your comprehensive credit information to the credit reporting bureaus. This change of reporting means it is extremely important for you to ensure you’re making your required loan repayments on time as this will positively impact your credit report. More information For more information about Comprehensive Credit Reporting including answers to some Frequently Asked Questions (FAQs), visit the CreditSmart website. You can also access the FAQs here. Back to top.