Learn how Comprehensive Credit Reporting (CCR) can help you improve your credit score and enhance your financial opportunities.
Comprehensive Credit Reporting (CCR for short) refers to sharing more comprehensive customer information between credit providers and credit reporting bodies. Sometimes known as Positive Credit Reporting, it means someone's positive credit behaviour can now be seen on their credit report, such as:
And more. Previously, credit reports only flagged negative credit behaviours, such as missed repayments, hard credit inquiries, payment defaults, infringements, and more. This was sometimes called 'Negative' Credit Reporting and wasn't as thorough.
Positive information being available to credit providers can result in more accurate assessments of your suitability for finance products and give them more insight into your creditworthiness, as they'll have a better picture of your repayment history and ability to manage your finances.
Jacaranda Finance is reporting data under the Comprehensive Credit Reporting regime.
With CCR, we will now provide a more detailed and comprehensive view of your credit history to credit bureaus.
This means that your credit behaviour, such as making timely repayments and managing your loans responsibly, will be reported, potentially strengthening your credit profile.
You may also have improved access to more competitive loan products, better loan terms and increased transparency in your credit information.
Your credit score is more than just a number—it's the key to your financial health and opportunities.
We are 100% devoted to improving the credit scores of Australians. We also want to help you understand everything you need to know about how credit works.
With the Better Credit app, you can check your credit score and monitor its progress over time for free. This could unlock new financial opportunities in the future.
It’s quick and easy to download the BetterCredit app and check your credit score. Simply head to the Apple or Google Play stores - linked below - and start your download.
Alternatively, you can log in right here and proceed to step 2
If you’re an existing customer with Jacaranda Finance, simply login to your account using the app or online in the customer portal.
If not, you can create an account in no time! We’ll ask you to verify your ID before you can complete this step.
Once you’re in, you should see an option to ‘Track Your Credit Score For Free’.
In the BetterCredit app or customer portal, hit ‘Track My Credit Score’ to grant us access to your credit file via an access seeker check.
Don’t worry: this is a ‘soft credit enquiry’ and won’t appear on your credit report to other lenders. It won’t affect your credit score in any way.
That’s it! You should now be able to check and monitor your credit score and its progress in the BetterCredit app dashboard.
Your score will be updated in the app on a monthly basis.
Register with us to receive your free credit score and unlock access to our comprehensive online course that will guide you through the essentials of credit scores. Start your journey to better credit today with Finance Fundamentals!
CCR could help you in a number of ways, which we’ve summarised below.
For a more detailed overview of both the pros and cons of CCR, see our article here.
CCR allows credit providers to access a more complete picture of an individual's credit history to make more informed decisions about lending to consumers.
If you have a strong recent credit history, CCR could make you eligible for more competitive products.
People who've positively changed their credit behaviour may see their credit score improve faster under CCR than under negative credit reporting.
Things like defaults or bankruptcies can stay on your credit report for years, so if you fell on hard times just once but have demonstrated good credit behaviours, CCR can highlight this to credit providers.
CCR allows credit providers to access a more complete picture of an individual's credit history to make more informed decisions about lending to consumers.
If you have a strong recent credit history, CCR could make you eligible for more competitive products.
People who've positively changed their credit behaviour may see their credit score improve faster under CCR than under negative credit reporting.
Things like defaults or bankruptcies can stay on your credit report for years, so if you fell on hard times just once but have demonstrated good credit behaviours, CCR can highlight this to credit providers.
If you're looking to apply for a loan but you’re worried about how it'll affect your credit score, no stress! At Jacaranda Finance, you can check if you qualify first, and your credit score won't be impacted.
If you meet our eligibility criteria, we'll let you know on the spot. You can then choose to submit an application, which will involve a hard credit check and may impact your credit score.
Here are the answers to some of our most frequently asked questions.
Your credit score, also known as a credit rating, is a score given to you based on your borrowing history from credit providers, ranging from 0 to 1,200.
When you apply for a credit product (such as a home loan, car loan or credit card), your credit score can essentially act as a numerical representation of your trustworthiness and reliability as a borrower.
The key difference between a credit score and a credit report lies in the detail and purpose of the information provided.
A credit score is a single number, typically ranging from 0 to 1200, which summarises your creditworthiness based on your credit history. On the other hand, a credit report provides a detailed history of your credit activities, including personal information, credit accounts, repayment histories, and more.
While your credit score gives a quick snapshot of your financial reliability, your credit report offers a comprehensive look at your credit behaviour over time.
Yes, you can check your credit score for free with the Better Credit app. The app allows you to sign up and check your score in just a few minutes, whether you're a customer of Jacaranda Finance or not. It's designed to be an easy and secure way to monitor your financial health.
If you prefer, you can also log in to your online customer portal and check your credit score there.
Nothing! Checking your credit score with us is entirely free!
Checking your credit score with us will not affect it in any way. We use a 'file access' to retrieve your credit information from Equifax, which is different from a 'full credit enquiry' and will not appear on your credit report.
