How often should you check your credit report? 

If you didn’t already know, your credit report plays a huge role in your financial health – but how often should you check it? If you’re like most people, the answer is probably ‘not enough’. Keeping an eye on your credit report isn’t just about knowing your score, it’s about ensuring it’s accurate and being aware of any issues before they become more serious. 

Why checking your credit report is essential

Your credit report is your way of keeping track of your financial history. A credit report contains information on your loans, credit cards, repayment history and any defaults or court judgements. This information is used to assess your reliability as a borrower, so if there are any errors or outdated information, it can affect your ability to secure finance, negotiate more favourable interest rates or even lease a property. 

How often should you check your credit report?

At Fix My Credit, we recommend checking your credit report at least once a year, but for some individuals, it might be necessary to check more often. Check your credit report: 

• Annually: You should check your credit report once a year to ensure all information is accurate and up to date.
• Before applying for finance: If you’re going to apply for finance, it’s a good idea to review your credit report a few months in advance. This gives you the chance to address any potential issues before they become a problem.
• After being denied credit: If you’ve unsuccessfully applied for a loan or credit card, checking your report in advance can help you understand why and allow you to take steps to improve it.
• If you suspect fraud: Unauthorised accounts or suspicious activity could indicate fraud. Checking your report regularly can help you detect any red flags early.

How do you check your credit report? 

As an Australian, you can get a copy of your credit report every three months. You can access your credit report through these reporting bodies: 

• Equifax, phone 138 332.
• Experian, phone 1300 783 684.
• illion, phone 1300 734 806.

We recommend using all three as the report can differ slightly between agencies. 

What should you look for when checking your credit report?

When you access your credit report, you should check for: 

• Incorrect personal details
• Unfamiliar accounts or loans
• Late payments you think were made on time
• Defaults or judgments that should no longer be listed
• Signs of identity theft or fraudulent activity

How to fix errors on your credit report

If you do find an error, you can dispute it. A professional credit repair company like Fix My Credit can help restore your credit and remove unfair defaults or court judgments. Credit default and court judgment removal involves eliminating incorrect or unfair listings from your credit report. 

Defaults often contain errors, outdated information, or non-compliant listings, which can be challenged and removed if creditors fail to provide proper documentation. Similarly, court judgments, and public records that impact credit scores, can be removed if they contain errors, have been satisfied, or meet legal criteria for removal. Addressing these inaccuracies helps restore your credit profile and improve your financial health.

Take control of your finances with Fix My Credit

Regularly checking your credit report is a must if you want to maintain your financial health and fix errors before they become an issue. At Fix My Credit, we recommend reviewing your report at least once a year, or more frequently if you’re planning on applying for a loan or mortgage. 

Keeping track of your credit status helps you find any errors, prevent identity theft, and ensure your financial future looks strong. For professional help, contact Fix My Credit today!