Comprehensive Credit Reporting (CCR) is a change to credit reporting by some credit providers in Australia
Previously, your credit report may have included information like when you applied for credit products and any defaults you’ve had.
With CCR your credit report includes additional information like the dates you opened and closed your personal credit account, account type, credit limits you have and up to 24 months of repayment history.
CCR enables credit providers to obtain a more comprehensive view of your financial situation to better meet responsible lending obligations. The four major banks, CommBank, ANZ, NAB and Westpac (plus lenders owned by them) have supplied at least 50% of their personal credit accounts information to credit reporting bodies, with 100% of personal credit accounts information to be supplied by late September 2019.
Whether CCR becomes legislation or not, CommBank is participating in CCR. We provided personal credit cards information first, with home loans, personal loans and personal overdraft information to be supplied by around the end of September 2019.