Queensland Country Bank commenced Comprehensive Credit Reporting (CCR) from September 2022.

Comprehensive Credit Reporting is the sharing of Members' credit information between credit providers and credit reporting bodies.

A credit report is a summary of how you have managed your credit facilities and may be used by credit providers to help them decide whether to offer you credit and on what terms.

Previously, your credit report may have included data such as the date of your loan application, any defaults on your loan or bankruptcies. With CCR your credit report includes additional information such as when you opened and closed a credit account, account type, credit limits you have, and up to 24 months of repayment history.

Credit reporting bodies are independent organisations that securely report credit and personal information to credit providers to help them assess a credit application. Queensland Country Bank works with Equifax Australia.

CCR means it’s more important than ever to make repayments on time. Making at least the minimum repayments on time will ensure your credit report is not negatively impacted. This information gives credit providers a more comprehensive view of your credit history, enabling them to make a more informed assessment of your ability to repay the loan. To avoid missing a payment, consider setting up direct debit (such as AutoPay for credit cards).

If your payment is more than 14 days late, and your repayment history has been provided to a credit reporting body, then the late payment will appear on your credit report issued by that body. This will remain on your credit report for 24-months.

Under the Privacy Act 1988, an overdue debt or default can only be listed on your Credit Report if it is overdue by 60 days or more and totals $150 or more. Defaults are viewed negatively by credit providers and can impact your ability to get credit in the future.

If there is a new arrangement in place that is wholly and partially related to any of your defaults, this will also be displayed in the Overdue Accounts section of your credit report.

We will not report the new types of comprehensive credit information on guarantors. Although we may still report information about a loan application secured by a guarantor or a default.

Your credit data can be viewed by credit providers when you apply for a credit facility and a credit check is carried out as part of your credit application process, and for a limited number of other reasons.

By law, your credit report can only be accessed by others in legally permitted circumstances. That is why, when you ask for your credit report, it will show you whenever someone else has accessed your credit report.

You can request one free credit report from each of the three credit reporting bodies every three months. Visit creditsmart.org.au for information on where to get your free credit report.

Financial hardship information is retained on your credit report for 12 months.

If you believe there is an error on your credit report, you can contact the credit reporting body where you obtained your report or contact the financial institution that provided the incorrect information and ask them to investigate.

Your data will be securely stored by Credit Reporting bodies that we have entered into agreements with.

You cannot opt out of Comprehensive Credit Reporting. To learn more about Comprehensive Credit Reporting you can visit the CreditSmart website.

Yes, provided data is only shared in accordance with the Privacy Act and in accordance with Queensland Country Bank’s Privacy Policy.

If your financial situation has changed and you are worried that you will not be able to make your repayments on time, it’s essential you contact us straight away. We have a range of ways that we may be able to help you. Please visit Financial hardship for help.

To learn more about Comprehensive Credit Reporting you can visit the CreditSmart website.