What is credit?
Credit is money or value provided now with an obligation to repay according to agreed terms.
About your credit
Understanding credit.
A practical introduction to credit and the questions consumers may need to ask.
Credit basics
Questions worth understanding.
What is a credit agreement?
A formal agreement describing the amount, costs, repayments, rights and responsibilities.
What is an affordability assessment?
A process that considers relevant financial circumstances, income, expenses and existing obligations.
What is a credit bureau?
A source of credit information used for relevant assessment and reporting purposes.
What does repayment history mean?
A record of how credit commitments have been managed over time.
What happens if I miss payments?
Contact the credit provider as soon as possible and ask about the available options.
What is over-indebtedness?
A situation where a person cannot meet credit obligations as they become due.
What is debt counselling?
A regulated assistance route for consumers who may be over-indebted, where applicable.
How can I get help?
Contact the credit provider or seek appropriate debt assistance where necessary.
Consumer guidance: Consumers have rights relating to accessing and challenging information held by credit bureaus and assistance when over-indebted.