Frequently asked questions

If you think your identity may have been stolen or you have reasonable grounds to believe you have been a victim of fraud, you can request a suppression on your credit report.

No. Your credit score is a number that reflects positive and negative credit behaviour. New Zealand's focus on comprehensive credit reporting means that lenders can see your repayment history. If you're making repayments on time, lenders can see that as a positive behaviour.

No, it is straightforward. If you see information on your Equifax credit file that you believe is inaccurate or incomplete, you can contact Equifax who will investigate the correction request with the relevant lender. Alternatively, you can contact the lender or creditor directly to correct any error and remove it from your file. If it’s not resolved by a lender, you can make a complaint to Equifax.

There are many factors that could impact your credit score such as time at an address, collection defaults and/or judgments on a credit file are very powerful indicators of increased credit risk and therefore lower credit scores.

There are several strategies for improving your credit score - pay your bills on time, if you get into trouble talk to the lender, reduce the number of credit applications and get engaged with your credit score and your credit file. Find out more with Yonda.

A credit score above 600-700 and above indicates that you're on top of your finances. A credit score below 600 indicates you are less creditworthy. Find out more about Yonda’s categories.

Your credit score is a number that reflects the activity on your credit file. It's a quick measure of how credit worthy you are, but the activity on your credit file or history is what determines this score. Your credit file includes more detailed information such as previous applications for credit, credit accounts, any defaults, and 24 months' worth of repayment history.

A credit file is a history of all your credit activity, dating back to the first time you obtained credit. Contained within a credit file is information such as:

• Companies you have applied for credit with such as banks, utilities and finance companies.
• The amount of credit you applied for.
• The type or purpose of credit sought, such as credit card, overdraft, home loan.
• Records of payment defaults (overdue accounts).
• Court judgments.
• Insolvency information.
• Collection agency defaults.
• Ministry of Justice fines.
• Collections data.
• Records of any identification you have reported lost or stolen.
• Also included is your full name, current and previous addresses and date of birth.

Your credit file can be accessed by you and certain entities for specific purposes, and only when you have provided consent for them to do so. For example, a bank that is considering lending you money.

We recommend you obtain a copy of your credit file. This is for several reasons.

1. The information on your credit file may impact your ability to obtain credit.
2. Your credit report is one of the first places fraudulent activity will appear if you've been victimized by identity theft.
3. Multiple sources of information can lead to inaccuracies on your credit report.

You are entitled to access your credit file for free (supplied within 10 business days) through mycreditfile.