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Credit Report Errors to Look Out For

Credit report errors are more common than you might expect – turns out credit bureaus can make mistakes too. It’s important to check that your credit information is correct and up to date as errors could have serious implications when applying for credit and can also alert you to things like identity fraud.

What are credit report errors?

Credit report errors are essentially any piece of information on your credit report that is incorrect, misleading or out of date.

Types of errors can include:

Incorrect personal details

Make sure all personal information such as your name, date of birth, most recent and past residential addresses are correct.  


These relate to late payment amounts over $150 that have been overdue for at least 60 days. Defaults can stay on your credit report for up to 5 years. Check to see if late payment and default notices were issued for these repayments and if they accurately reflect whether payments were missed.  

Credit infringements

More serious defaults can transition into credit infringement which can remain on your credit report for up to 7 years.

Debts and loans

Look out for debts and loans that were not made by you, incorrect amounts, duplicates, incorrect repayment records/information. Don’t forget to check that the loan amounts and monthly repayment history on your credit report are correct. 

What to do if you find an error

Firstly, you can contact the credit bureau where the error was identified. In Australia, there are three main credit bureaus: EquifaxIllion and Experian. Usually small errors can be corrected straight away or the credit bureau can investigate further on your behalf with the financial institution that listed the information. 

Secondly, you can contact your credit provider or financial institution and provide details about the incorrect information you identified. If they refuse to correct the error, your credit provider must give supporting evidence proving why the information is deemed to be correct on your credit report. 

Thirdly, if the institution that listed incorrect information does not resolve the error, you can reach out to the ombudsman for dispute resolution. Lodge a complaint by contacting the Australian Financial Complaints Authority AFCA.

If you’ve done all of the above and the error has not been resolved, you can contact the Office of Australian Information Commissioner OAIC as a last resort. 

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Is your credit information correct?

Check your credit scores now to see if all your credit information is correct. Your Wisr dashboard gives you in-depth insights into your payment history, personal info, credit enquiries and more. 

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Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.

James is a marketing and communications professional with a passion for leading high-performance teams. He likes what he does… a lot.

James, Chief Growth Officer

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