She also says that because CCR only shows your credit limit, not your actual amount owing, lenders view that limit as your total amount of liability.
So, if you have five credit cards each with a credit limit of $5,000, lenders will calculate your total liability as $25,000, even if you only owe $3,000.According to the Office of the Australian Information Commissioner, you can request a copy of your credit report from these bodies:"That's why we talk about reassessing the credit you have and whether you need it," Ms Cremin said.
"If you've got a credit card in the bottom drawer that you've never actually used, you might be able to close that."If you're going for a loan, lenders use your credit report as one tool to determine your suitability, so it is important.."A lender is going to look at your credit report more than your score," she said.
And she added many of the lenders would have their own algorithm for determining your appeal as a borrower, rather than using the number the credit agencies give you, so don't focus too much on that one number.
This is outrageous banks found corrupt & criminal activity yet get more power to control & manipulate people’s data & lives ccr Private credit reference companies control all aust citizens without oversight PoliceState anyone auspol abcnews bankingrc thebigissue
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