Credit Check - What Is Shown?

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The Rok said:
For those that are interested you can now buy your credit report & specifically your Veda credit score for $85 from Veda. As per above, scores are listed as 0 - 1200. It is possible to go into a negative score, and even down to -999, but that would be a declared bankrupt individual.
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Thanks for this info The Rok. I have been using Veda's older product " Credit Check Australia, Credit Rating, Credit Report | MyCreditFile.com.au " for a few years now but have asked them to cancel that at the next renewal, and have signed up for Veda Access at Your Credit & Identity | Products & Pricing which does the same as My Credit File but also adds the VedaScore for an extra $15pa.
I was happy with my score but would like to improve it, and now I can. It's good to have the knowledge rather than flying blind, so thanks for telling us about this service.
 
Just rec'd a free Veda copy of my file just showing some cc enquiries going back a way. But what does this mean "Consumer Credit Liability Information" and a number/rating?
 
get me outta here said:
Just rec'd a free Veda copy of my file just showing some cc enquiries going back a way. But what does this mean "Consumer Credit Liability Information" and a number/rating?
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Consumer Credit Liability Information (or CCLI) is part of positive reporting, for accounts you have you will eventually be able to see credit provider, type of credit, limit (not balance) and open/close date. I think Veda is doing some future proofing here as noone has actually started contributing this information to my knowledge, even they though they have been allowed to since 12th March. Will probably take 6-12 months for this to become common to contribute CCLI and Repayment History info.
 
Ok thanks. I had a number next to it as well. But, really all this report shows is that a few cc co have been poking around. Not very interesting really.
burmans said:
Consumer Credit Liability Information (or CCLI) is part of positive reporting, for accounts you have you will eventually be able to see credit provider, type of credit, limit (not balance) and open/close date. I think Veda is doing some future proofing here as noone has actually started contributing this information to my knowledge, even they though they have been allowed to since 12th March.
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Slightly OT but had a weird experience yesterday worth telling to those who own a company that may have undergone changes in ownership. It involved company ASIC records and how well they are used by business research companies and updated.
Received in the mail letters from a major media company addressed to myself and two company directors, one who had been a director for only six months back in 2000 and the second who resigned in 2010 leaving me as sole owner and director. The accountant each time had updated the ASIC records and I always check for accuracy the ASIC company records when making the annual payment.
The media company advised me they sourced the company info online from the US based Hoovers business research company owned by Dun and Bradstreet.
I phoned the local D&B and a customer officer advised that Hoovers accessed their database and also confirmed that their records were as per the media companies mail out list. She further confirmed their info came from ASIC files which I advised this could not be the case as their info was up to 14 years out of date.
The D&B officer looked into the matter further and advised that my company file had not been updated since 2012 which didn't make sense as it should have already picked up the two removed directors. The D&B officer was able to instigate an update whilst I waited advising me on completion that their database now shows me as the sole director.
I asked the D&B officer to send me out company info forms which I returned completed with detailed company info.
 
Curiosity got the better of me and I signed up for Veda Plan ($120) ... delivered within minutes of payment.

The report is fairly detailed and accurate;

Home addresses and employment history starting from my first job
Recent CC enquiries (looking at you ANZ)
Current CC providers
Commercial credit enquiries
Directorships - current/previous

Amex is the only provider that has been viewing my file (file access) - particularly active in the period I was using one of their cards to pay the ATO :D

Interesting and worth the coin IMHO - very happy with my Veda score.
 
Bit the bullet with the veda access plan last month for 2 reasons
1) a cough up from AGL which resulted in me being defaulted incorrectly (has since been expunged)
2) Getting approved for my anz cards despite being iffy about the number of credit enquiries i've had in the last 12 months prior (Amex x 2, citi, westpac homeloan, bankwest commercial loan, novated lease)

Found that in addition to the above, i had a hit from HSBC (was shopping around for HL), AGL (when I connected gas) & Wright express (apparently my motorpass is a credit card)
My credit score looks worse for wear but I am not entirely surprised. In fact I'm more surprised that I got approved for my anz cards lol.

I didn't note any monthly file accesses from any of my credit providers (only citi and amex were listed)

Interested to see whether my score heals over time with no enquiries, or whether is it doomed to stay as it is until items on my credit file start expiring?
 
My score has been improving by about 10 points a month where the month has no applications.

Note, it may stay the same for months, then jump by 30-40 points.
 
DeKa said:
My score has been improving by about 10 points a month where the month has no applications.

Note, it may stay the same for months, then jump by 30-40 points.
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Oh. It's been a while. I am not game enough to look.
 
I have seen them stay static for 5 months, no move at all, the make one "right" application and see it jump 100 points over night.
 
Interesting, seems that veda has a hand in this new service.
It'll be interesting to see if the scores are the same as those bought from veda, but I assume that like the free credit file, it'll be limited to once per year.
 
jlien said:
Interesting, seems that veda has a hand in this new service.
It'll be interesting to see if the scores are the same as those bought from veda, but I assume that like the free credit file, it'll be limited to once per year.
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It is indeed interesting, Veda give you that one free credit file a year because thats the law, not because they are nice guys so a bit surprising they are supporting a free service.
 
Didn't realise it was by law. I assumed that it's the old "the first one's free but each subsequent one will cost ya" sales strategy.

I bought my veda service last month to satisfy curiosity, but I definitely would like to know how my score progresses as time rolls on, so had I gotten my score from this offer, I probably would have caved in a month or two down the line and purchased the subscription to see my progress.

If nothing else, this offers some advertising to their services and some opportunity to upsell.
 
Oddly, I registered and was told I had already requested my credit score. Odd.
Funnily enough, my PO Box in Australia is actually registered with Veda as an address of mine. I must be pretty tiny to fit in that small box!
 
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