2020 Financial Services Winner of Australian Small Business Champion Awards

Comprehensive Credit Reporting (CCR)What is it and how can I benefit from it?

Comprehensive Credit Reporting (otherwise known as CCR) was introduced in March 2014 and has been compulsory for Australia’s big four banks (CBA, ANZ, Westpac and NAB) since July 2019, with more lenders to follow suit by June 2021.

In a nutshell, CCR refers to positive credit reporting, where lenders provide more of their customer’s credit data to credit bureaus like Equifax, Experian and Illion so a more accurate picture of borrowers’ credit history can be shown.

Fair Go Finance voluntarily adopted CCR in October 2019 because of our commitment to being a responsible lender. We act in the best interests of our customers by ensuring that every loan Fair Go Finance offers is affordable for our customers, and every loan meets their needs, objectives and requirements.

To understand why it was introduced by the Government and the many ways it can benefit you see more here.

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Everything you need to know about CCR

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We’re Australia’s first commercial small amount loan provider to adopt Comprehensive Credit Reporting

Here at Fair Go Finance, we are proud to say that on top of being a responsible lender, we also became Australia’s first commercial small amount loan provider to adopt Comprehensive Credit Reporting back in October 2019.

See your credit score improve

And since adopting CCR, we have seen incredible results for our customers. Firstly, it has already helped improve the borrowing power of our customers with good repayment conduct, by giving them access to larger loans and better rates. And secondly, it has positively helped those borrowers who have had credit issues in the past, but have now begun to repair their credit rating so they can achieve a brighter financial future sooner.

Now that you have a good understanding of what Comprehensive Credit Reporting is, and the benefits it can offer you, don’t forget that knowing your credit score and checking it regularly is a key part of staying financially healthy.

If you’ve not obtained your credit score before, you may wish to read our blog, “What is my credit score? Find out now for free” which explains exactly what you need to do.

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Are you eligible to apply?

  • I am 18 years or older
  • I have not entered into bankruptcy or part 9 agreement within the last 6 months
  • I am willing to provide my Bank Statements online
  • My income is not solely from Centrelink
Please note: Bank statements can only be submitted via our secure online service.