The Savvy Team love to hear from our members and get all sorts of questions asked, so we thought we would share some of the most commonly asked questions we get (see Q1-3 here):
Q4. Who is Experian?
The credit scores and credit report information we provide come from Experian, they’re a Credit Reporting Body.
All the nitty gritty details:
Credit Savvy retrieves your credit score and credit report information from Experian, one of Australia’s national Credit Reporting Bodies (CRB).
Experian is one of 3 national CRBs in Australia (there is also the Tasmanian Collections service which is as you probably guessed specific to only Tasmania). You sometimes also hear these CRBs referred to as Credit Bureaus.
CRBs collect credit related information about individuals (and sometimes companies) from credit providers and publicly available sources. This includes previous applications for credit and information like defaults and bankruptcies.
CRBs process this information into a credit report and credit score, essentially representing your credit reputation. It’s important to note that a CRB doesn’t approve or deny credit, that’s all about the lenders themselves.
Each Credit Reporting Body maintains their own set of consumer credit information so it is possible you will have a separate file with each one. This can mean your credit file and credit score at each CRB may not be exactly the same.
Experian Australia is part of the global Experian organisation that leads the world in providing data, analytical, marketing and credit services.
As a relatively new entrant to Australia, Experian brings innovation, global expertise and competition to the Australian credit services market.
We teamed up with Experian as we have a shared vision for building consumer credit knowledge and empowering consumers to help better understand and improve their financial health.
You can request your full Experian credit report here.