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By Anders Wilson
A low credit rating will limit your chances of getting a great financial deal. Luckily for you, we’ve put together a list of the top agencies for the best credit check in NZ.
They can send you a detailed credit report, which is exactly what banks and creditors look at. This will let you know where you stand in terms of the credit you’ve had.
In this guide, we will delve in the fundamentals of credit checks, such as what they are for, your rights regarding them, and how you can improve your credit rating.
If you’re ready, let’s proceed!
What to Know About Credit Checks
A credit check is defined as the activity in which a person takes a look at your credit history for business purposes, especially for loans, insurance, and rent.
Your creditor wants to be certain that you’re going to repay on time. So they dig into your past record to see if you have been a good payor or not.
Here are the things that you should know about credit checks or records:
In taking a look at your credit record, you will see the summary of all your credit from banks or other lenders. Your credit score will even be shown through credit reports.
From this, you can form a finance strategy to clear off your debts. This will keep your credit score up, in case you are borrowing funds.
2. Your Rights
When it comes to your credit history, you have your rights since, after all, this information is personal.
You have the right to:
- Ask for your own copy
- Complain of wrong information
- Suppress the account due to fraudulent activity
- Ask the agency not to release your credit data without your permission
3. Credit Report Access
Credit bureaus are allowed to show your credit file to lenders, insurers, landlords, and debt collectors to assess if you can pay back what they will lend you.
Public staff and people who filed a case against you are also given access. Other than those mentioned, people will need permission from you to view your credit report.
4. Correct your credit report if it’s wrong
It’s frustrating not to be given a better interest rate or allowed a mortgage if the incorrect information wasn’t your fault.
That’s why it’s vital to correct your credit report promptly if you have noticed any mistakes. Each credit bureau has different procedures you should follow for that.
5. Bring up your credit score
Your credit score is sensitive, moving up or down based on how you repay your credit. It shouldn’t be taken for granted since it can show in your report for up to 5 years!
Fortunately, you can remedy this situation though it will take time. Here are the many ways you can improve your credit score:
- Pay on time
- Settle your credit card bill in full
- Report wrong information on your credit reports
- Don’t apply for new credit if it’s not needed
- Avoid payday loans
- Don’t share bills with others
- Wait for bad credit history to disappear before applying again (if you can)
The Best Credit Check Agencies in NZ
Need to see your credit report? Allow us to present to you the top credit check agencies in NZ!
|Best for||Identity theft protection|
|Products||My Credit File My Credit File Express My Credit Alert|
|Address||Level 8/22 Fanshawe Street, Auckland CBD, Auckland 1010, New Zealand|
|Contact Details||Phone: 0800 692 733 Overseas: 09 367 6200 [email protected]|
|Office Hours||Monday – Friday: 9.00 AM – 4.00 PM Saturday & Sunday: closed|
|Prices||My Credit File: free My Credit File Express: $9.95 inc GST My Credit Alert: $69.95 per year|
Your credit record can strongly affect your borrowing potential from your lender. Thankfully, you can keep your credit in check with Equifax.
It’s one of the leading agencies for the best credit check in NZ, along with Illion and Centrix.
With Equifax, you can choose from three credit report packs: My Credit File, My Credit File Express, and My Credit Alert.
Though My Credit File comes free, you’ll have to wait 10 working days to get your credit report, while My Credit File Express is dispatched faster within 3 days or less.
Furthermore, you could subscribe to My Credit Alert, which includes your credit report, identity theft guard, change alerts, and your Equifax credit score.
Also, if you notice fraudulent activity on your credit file, you can just contact the Equifax team to suppress your credit record.
|Best for||Simple and straightforward credit report|
|Address||PO Box 62512, Greenlane, Auckland 1546, New Zealand|
|Contact Details||0800 236 874|
|Office Hours||Monday – Friday: 8.00 AM – 5.00 PM Saturday & Sunday: closed|
With a stark focus on servicing New Zealanders, Centrix lets you get your free credit report, detailing the expenses, overdues, and successful payments you’ve made.
On the upper right portion of the credit report, you will find a simple bar with gradient colours indicating your credit score, which can be from 1 to 1000.
A higher score means you’ll be able to secure a lower rate from creditors, whereas a lower score will make it harder for you to open a bank account, buy a policy or finance a car.
You can get your free credit report via the link above where you’ll have to fill out the application form.
Normally, it would take 5 to 10 working days for you to get your report. But if you have a driver’s licence, you will receive your credit report a lot faster.
|Best for||Swift credit report delivery|
|Products||Fast-Track Credit Report Standard Credit Report|
|Address||Level 2, Building 6/666 Great South Road, Ellerslie, Auckland 1051, New Zealand|
|Contact Details||Phone: 0800 733 707 or +64 9 359 8040 Illion Express Enquiries: 0800 733 707|
|Prices||Please contact the company for details|
Whether for personal or business credit checks, Illion (formerly Dun & Bradstreet) is a great credit reporting agency that you can rely on.
You can select between fast-track and standard credit report deliveries. For the first option, you’ll get it swiftly within 3 days and for the latter, in 10 to 20 business days.
If you’re a broker, proprietor, or debt recovery specialist, you can also request to see the financial background of your client with their business credit file.
Applying on their site is quick and easy. And more importantly, the personal information you put on the website is encrypted for your safety and peace of mind.
4) Credit Simple
|Best for||Innovative credit report system|
|Products||Credit Simple for Individuals Credit Simple for Business|
|Address||22 Customs St, East Auckland, New Zealand 1010|
|Contact Details||[email protected] [email protected]|
|Office Hours||Monday – Friday: 9.00 AM – 5.00 PM Saturday & Sunday: closed|
Credit Simple is a groundbreaking online tool for seeing your credit report. It has a simple application process and bank-level security—all for free.
Owned by Illion, a leading credit report company, Credit Simple can be relied upon in giving you real-time information of your credit accounts.
They have a nice feature where you can compare your credit score with the community. That brings a new level of fun and lightness as you get rid of your debts in your credit file.
Registering online will only take a minute. Furthermore, they have financial advice, tips, and tools that explain your credit score and help you when you’re in a jam.
|Best for||Business credit report|
|Products||Consumer credit report Commercial credit report|
|Address||Level 8, DLA Phillips Fox Tower, 205 Queen Street, Auckland Central, Auckland, 1010, New Zealand|
|Contact Details||Phone: (64) 9 927 4611 Fax: (64) 9 366 4569|
|Prices||Kindly enquire for rates|
For making informed business decisions, Experian is a fantastic company to obtain a client’s credit report from.
Thanks to their Correction Exchange feature, the client’s credit information will stay accurate and up-to-date while making the process easier for employers or creditors.
At a glance, you can gauge the customer’s credit efficiency with the credit score. The report provides you with the overview and specifics such as lawsuits, defaults, bankruptcies, and enquiries.
You can enquire with Experian through the link above. They have a form on that page which won’t take long to finish.
FAQS about the Top Credit Check Agencies in NZ
And that’s all for the best credit check agencies in NZ. You should get more than one credit report from them to be certain that the data are accurate.
Any questions or opinions so far about our list? If you have anything at all, just send us a message and we’ll get back to you as soon as possible.
Need a credit card but worried about your low credit score? No problem, you can check out the best credit cards for bad credit in NZ!