Understanding the Basics of CCR
Comprehensive Credit Reporting (CCR) means positive as well as negative data can be included on credit reports and used by credit providers to assess credit risk.
What does this mean:
- Traditionally, only negative data was permitted to be disclosed e.g. enquires, defaults and other adverse information.
- In 2014, the Privacy Act was amended to introduce CCR reporting e.g. payment history, credit limits and account type.
- The 4 major banks have until July 2019 to load all their consumer credit accounts.