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Information about repayment history information

What is repayment history information?

Repayment history information (RHI) is one of the new types of credit-related personal information that credit providers are permitted to disclose to credit reporting bodies under the March 2014 privacy law reforms, if appropriate notices and other requirements of the Privacy Act 1988 have been complied with.

RHI is information about whether an individual has met their consumer credit payment obligations. RHI includes information about whether an individual has made or missed a consumer credit payment and if an individual makes a payment after that day, the date on which the payment is made.

 RHI is different to a 'default', which is information about a payment of $150 or more that has been overdue for at least 60 days.  A credit provider must give you specific notices before information about a default can be included in your consumer credit report.

For further information about RHI please see: Privacy Factsheet 16 – Credit reporting: repayment history information.

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What notice is required to disclose repayment history information

Notice in accordance s 21C of the Privacy Act 1988 must be given by credit providers for repayment history information (RHI), collected after 12 March 2014, to be disclosed to a credit reporting body (CRB).

For RHI collected prior to 12 March 2014 credit providers would, at a minimum, have had to have met the notification requirements in pdfNational Privacy Principle (NPP) 1 (Collection)1.15 MB in order to disclose the RHI to a CRB after 12 March 2014.  For example, the credit provider should have notified the individual at or before the time of collection of the RHI, that the credit provider may disclose that information to a CRB from 12 March 2014; see NPP 1.3(d).

There is also an argument that, from 12 March 2014, a credit provider cannot disclose RHI collected before that date to a CRB unless it met, to the extent possible, the notification requirements in s 21C of the Privacy Act 1988 at the time of collection.

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Which credit providers can disclose and access information about your repayment history?

Only a credit provider that holds an Australian Credit Licence can disclose repayment history information to a credit reporting body (CRB) or access repayment history information contained on your credit report.

Generally, that means credit providers who provide:

  • mortgage credit
  • personal loans, or
  • credit cards.

Importantly, your credit report held by a CRB will not include information about your repayment history for:

  • utilities credit (including, your electricity, water or gas bill)
  • telecommunications credit (including your mobile phone and internet bill).

RHI is separate to 'default' information which is a bill or repayment that is overdue for at least 60 days and the amount is $150 or more.

For more information on who is required to hold an Australian Credit Licence see the Australian Securities and Investments Commission (ASIC) Regulatory Guide 203: Do I need a credit licence?  or to find out who does hold an Australian Credit Licence search the ASIC Connect register for ‘credit licence’ holders.

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