It is definitely a good idea to check your credit bureau file at least once a year to make sure the information is accurate.
It is best to know ahead of time what your credit file looks like before applying for credit. To get a copy of your credit file you can contact VEDA Advantage on 1300 921 621 or visit www.mycreditfile.com.au. Veda makes freely available your credit file where your request relates to the refusal of an application for credit or is otherwise related to the management of your credit arrangements. Veda despatches the file within ten working days however for a small fee you can receive a faster delivery of your file.
VEDA also offers a paid service where you can receive alerts whenever specific changes occur on your credit file. If you do find a mistake simply contact the named credit provider or enquirer as well as the credit reporting agency. Be sure to put your concern in writing and ask them to amend the file accordingly.
If you have difficulties amending your file, you can take your complaint to: The Financial Ombudsman Service (www.fos.org.au) for banks, building societies or credit unions. The Telecommunications Ombudsman www.tio.com.au (for phone companies) The Credit Ombudsman Service (www.cosl.com.au) for non-bank lenders The Office of the Federal Privacy Commissioner www.privacy.gov.au.