New Rules For Obtaining Credit in Australia - Welcome to your Credit Score!

[grand dad]

Please pay attention if you are a serious property investor and reliant on bank funding.

The concept of "Positive Reporting" is very American. There are new laws in force in Australia and, no doubt, we will be hearing a lot about "Credit Scores" in years to come.

http://www.heraldsun.com.au/busines...creditable-score/story-fngu4eru-1226777466299

A BILLION-dollar company listed on the stock market this week, and its only major "asset" is your personal financial details. The company is the Veda Group, and they're a credit reporting agency.

If you've ever been knocked back for credit, you've probably heard of them. And if you're an upstanding financial citizen, you'll definitely want to know about them next year.

That's because the current privacy legislation only allows them to collect "negative" credit information on you: applications for credit, outstanding credit, unpaid bills over 60 days, and bankruptcy and other judgments against you.

....

 

[zimby]

Interesting.
Positive Reporting is good news I feel.
More interesting that Share Price Listed Higher than expected.

 

[Spanish1]

Yes a step in the right direction I believe, especially if it leads to interest rate discounts and similar benefits. I'm curious what other "positive" information they'll be able to put on the report apart from the VedaScore.