• Comprehensive Credit Reporting

    RAMS started comprehensive credit reporting (CCR) as part of a government-initiated industry change to provide a more complete picture of consumers’ credit history.

  • RAMS has started comprehensive credit reporting (CCR) as part of a government-initiated industry change to help provide a more complete picture of your credit history which contributes to your overall credit health.

    CCR includes more positive credit information including account open and close dates, types of credit, credit limits and up to 24 months of repayment history information. 

    Here’s a comparison summary of credit history information now applicable to CCR:

    Credit history information Prior to CCR CCR
    Account open dates   Y
    Account closed date    Y
    Type of credit   Y
    Credit limits   Y
    24 months of repayment history information   Y
    Credit enquiries Y Y
    Defaults Y Y
    Serious credit infringements
    (e.g. fraud or deliberately evading your obligations)
    Y Y

    What CCR means for you

    Customers with a RAMS home loan may see a change to their credit report; for example repayment history will show back to April 2018 and you may see a change to your credit score as a result of CCR. Your credit score is a number generated by that credit reporting body that is a summary of the information on your credit report. The higher the score, the better your credit history is. Your credit score is also likely to change more regularly with CCR due to additional information being supplied to credit reporting bodies each month.

    Further information and support

    The Credit Smart website has further information on CCR and credit reporting in Australia or you find more information here.

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    About the author

    Raymond A Ram is the RAMbassador for RAMS Financial Group. Raymond works with the RAMS team to bring simple, helpful and expert information on home loans and savings accounts to life with his down to earth and cheeky personality. He enjoys seeing everyday Australians turn their dreams of saving for a goal or getting into a home a reality. 

    Growing up in Goulburn, NSW, Raymond was brought up with good old-fashioned Aussie values of hard work and a fair go. It soon became apparent that Raymond wasn't content for the conventional path of grazing, producing the very best wool, and finding a nice sheep to settle down with. So it wasn't long before his passion for performing and his talent as a likeable larrikin shone through - landing him a few roles such as 'RAMlet'. He was even tipped to play RAM-bo at one point but chose to become star of the small screen instead as RAMbassador for RAMS. He now finds this role so much more rewarding.

    Contact your local RAMS Home Loan Centre about your home loan options.

    Raymond A Ram

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  • Disclaimer:

    While such material is published with permission, RAMS is not responsible for its accuracy or completeness.  This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.