Where you apply to us to be a tenant, one of our checks involves obtaining a credit report about you.
A credit report contains information about your credit history which helps credit providers assess your credit applications, verify your identity and manage accounts you hold with them. Credit reporting bodies collect and exchange this information with credit providers like us and other service providers.
The Privacy Act limits the information that credit providers can disclose about you to credit reporting bodies, as well as the ways in which credit providers can use credit reports.
Information exchanged with credit reporting bodies
The information we can exchange includes your identification details, what type of credit has been extended to you, the amount of credit extended to you, whether or not you have met your credit obligations and if you have committed a serious credit infringement (such as fraud). We also ask the credit reporting body to provide us with an overall assessment score of your creditworthiness.
Types of credit related personal information
- name, sex, date of birth, driver’s licence number, employer and three most recent addresses;
- confirmation of previous information requests about the individual to credit reporting bodies made by other credit providers and credit insurers;
- details of previous credit applications, including the amount and type of credit and credit limit;
- details of current and previous credit arrangements, including credit providers, start/end dates and certain terms and conditions;
- permitted payment default information, including information about related payment arrangements and subsequent repayment;
- information about serious credit infringements (e.g. fraud);
- information about adverse court judgments and insolvency;
- publicly available information about the individual’s credit worthiness;
- any credit score or credit risk assessment indicating a credit reporting body, credit provider’s or our analysis of the individual’s eligibility for consumer credit; and
- any other types of credit related personal information about an individual permitted under the Privacy Act.
Use and storage of credit-related information
We use information from credit reporting bodies to confirm your identity, assess applications for tenancy, manage our relationship with you and collect overdue payments. We may also use this information as part of arriving at our own internal assessment of your creditworthiness.
We store credit-related information with your other information. You can access credit-related information we hold about you, request us to correct the information and make a complaint to us about your credit-related information. See sections 8 and 9.
Credit providers may ask credit reporting bodies to use their credit-related information to pre-screen you for direct marketing. You can ask a credit reporting body not to do this. Also, if you’ve been, or have reason to believe that you’re likely to become, a victim of fraud (including identify fraud), you can ask the credit reporting body not to use or disclose the credit-related information it holds about you.