Banking
Australia — Banking: Credit History
Australia has three credit reporting bureaus — Equifax, Experian, and illion — operating under the Privacy Act 1988 and the Credit Reporting Code 2014. New arrivals to Australia start with no local credit history, since credit files are built from local reporting rather than imported from other countries; this can affect access to credit cards, loans, and phone/utility contracts until a local history is established.
VerifiedAustralian Credit Solutions and Finder guides to Australia's credit bureaus and scoringLast reviewed: 2026-08-31
Why this matters
Newcomers to Australia typically arrive with no local credit file, even if they have strong credit history overseas, which can limit approval for credit cards, personal loans, and some contract-based services (mobile phone plans, utilities) until a local history is built up.
Key facts
- Australia has three credit bureaus: Equifax, Experian, and illion — each uses a different scoring scale (Equifax: 0-1,200; Experian and illion: 0-1,000)
- Equifax is the most widely used by the Big Four banks (CBA, Westpac, ANZ, NAB); Experian and illion are more commonly used by fintechs, non-bank lenders, and buy-now-pay-later providers
- Not every credit provider reports to every bureau, so scores and file contents can differ between them
- Every Australian resident can request one free credit report per bureau every 12 months, or at any time within 90 days of being refused credit
- Credit history from overseas does not transfer to Australia — newcomers generally start with no Australian credit file
Steps
- Understanding Your Credit Report — Request your free credit report directly from each bureau (equifax.com.au, experian.com.au, illion.com.au) — one free report per bureau every 12 months, or immediately if you've been refused credit in the last 90 days.
Costs
- Free annual credit report: Free (one per bureau, once every 12 months)
- Expedited/additional credit reports: Varies by bureau, typically a small fee if requesting outside the free entitlement
Timelines
- Obtaining a free credit report: Typically processed within 10 days of request, per Privacy Act requirements
Required documents
- Proof of identity (e.g. passport or driver's licence) when requesting a report from a bureau
Common mistakes
- Assuming credit history from another country transfers to Australia — it does not; you start with no Australian file
- Not realising scores can differ across Equifax, Experian, and illion since not all lenders report to all three