How credit reporting works at ACS

This page explains how we collect, use, and share credit-related information, and your rights to access or correct it.

What is credit reporting?

Credit reporting is the process of sharing certain information about your credit activity with licensed credit reporting bodies (CRBs).

This helps lenders assess credit applications and manage risk responsibly.

In Australia, credit reporting is regulated under the Privacy Act 1988 (Cth) and overseen by the Office of the Australian Information Commissioner (OAIC).

Scope

This Policy applies to:

• applicants for consumer credit
• current and former consumer credit customers
• credit information we obtain from or disclose to credit reporting bodies
• credit reporting information we hold or use in connection with consumer finance

What information may be reported?

If you apply for or hold a credit product with us, we may share the following types of information with credit reporting bodies:

Credit application information:

• When you apply for credit with us
• The type and amount of credit applied for

Credit account information:

• Whether your account is open or closed
• Credit limits or loan amounts
• Repayment status

Repayment history information:

• Whether repayments are made on time
• Whether payments are overdue

Default information:

• If a payment is overdue for a significant period
• The amount outstanding at the time of reporting

We do not report information unrelated to credit, such as your spending behaviour or transaction history.

Who do we share information with?

We may share credit-related information with licensed credit reporting bodies, including:

• Equifax
• Illion
• Experian

These organisations maintain credit reports that other lenders may access when you apply for credit.

Why we use credit reporting

We use credit reporting information to:

• assess credit applications
• manage existing credit accounts
• reduce financial risk
• comply with legal and regulatory obligations

How repayment history works

Repayment history information shows whether you have made your repayments on time.

For example:

• Paid on time = positive record
• Late or missed payments = may be recorded as overdue

This information is updated regularly and reflects your ongoing repayment behaviour.

Defaults (serious overdue payments)

A default may be recorded if:

• a payment is overdue for an extended period
• the amount is above a minimum threshold
• required notices have been issued under the law

Before reporting a default, we must follow strict legal requirements, including providing notice where required.

If something is wrong on your credit report

You have the right to request correction if you believe information is:

• incorrect
• incomplete
• out of date
• misleading

We will:

• investigate your concern
• review relevant account records
• liaise with the credit reporting body if needed
• correct information where required

How long does investigation take?

We aim to resolve credit reporting complaints within 30 days.

If more time is required due to complexity, we will:

• inform you
• explain the reason
• keep you updated

Accessing your credit information

You have the right to request access to:

• credit information we hold about you
• information we have shared with credit reporting bodies

You can request this by contacting us using the details below.

What happens if you disagree with a decision?

If you are not satisfied with the outcome of a review, you can escalate your complaint to:

• Australian Financial Complaints Authority (AFCA)
• Office of the Australian Information Commissioner (OAIC)

These are independent external dispute resolution bodies.

Keeping your information secure

We take reasonable steps to protect your personal and credit-related information from:

• misuse
• loss
• unauthorised access
• unauthorised disclosure

Contact us

Operations Manager

ACS Asset Management

PO Box 7795

Cloisters Square WA 6850

Alternatively you can call us on 1300 851 953