How Can You View Your Credit File (and How Much Does it Cost)?
You know you need to check your credit file for inaccuracies and evidence of identity theft from time to time. But how do you actually get your credit file? And how much does it cost? Let’s take a quick look at these issues, including why some credit reports are free while other forms of access to your credit file might involve a fee.
How Much Does it Cost to Get a Copy of Your Credit File?
According to the Office of the Australian Information Commissioner, “credit reports are generally required to be given free of charge.” Then why do you still see fee-based options for getting a copy of your credit file from Veda Advantage and Dun & Bradstreet?
The cost actually has nothing to do with getting your report. You’re paying for the convenience of immediate online delivery. If you need your credit file right away (such as the day before you plan to apply for a loan), it might be worth paying them for the express delivery. However, if you’re willing to wait, you can order a free copy of your credit file to be delivered via post.
Here is what you need to do to get your credit reports from these two credit reporting agencies.
Veda Advantage
1. Visit www.MyCreditFile.com.au.
2. Click the “Personal” tab near the top of the site.
3. Then click the “My credit file” link.
4. Here you can choose “My Credit File – Express” (the paid instant version) or “My Credit File – Free” (the standard version) from the links in the left column. At the time of writing, an express credit file costs $36.95.
5. Mail or fax the requested information to Veda Advantage if you chose the free credit report option. Their contact information is at the bottom of the page listing the required personal details you must send. If you chose express delivery, you can fill out your personal details and payment information online.
Dun & Bradstreet
1. Visit www.dnbcreditreport.com.au.
2. In the gray box on the homepage, click “instant” if you’re willing to pay for instant online delivery of your credit file, or click “standard” if you’re willing to wait up to ten days to get a free copy of your credit file. Note: at the time of writing an instant credit report from D&B costs $30.
3. Enter the required information on the website and submit your request.
Dun & Bradstreet seems to make it a little bit easier to request a free copy of your credit file than Veda Advantage, but neither has a process so complicated that it should discourage you from requesting one. It’s a good idea to keep tabs on changes to your credit file throughout the year, especially before applying for any new major sources of credit. So what are you waiting for? Request your free copy of your credit file today and make sure this important financial record is in order.
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