Credit privacy concerns as credit rating snooping expanded

BUSINESS and consumer groups have voiced concern over new credit reporting rules that start next year.

Currently, everyone with a credit card, personal loan or mortgage also has a credit report, which includes whether they have defaulted on their repayments.

Most consumers only ask to see their credit report when they are in trouble.

From next year, much more data will be collected and shared under a new comprehensive credit reporting regime.

The new scheme will collect information on credit limits, repayment history, and account opening and closing dates.

Read more at ABC News Online



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