AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Ask each credit reporting body for your report directly. Moneysmart, run by ASIC, says you can get a free copy every three months and should check at least once a year. It names Experian and Equifax, which can hold different information, so request from both; if you have heard of illion, check that body's own site for its current consumer service.
A new arrival from Nigeria usually has a thin Australian credit file or none at all. That is normal, because Australian reports are built from Australian credit products. Reading your own report early tells you what lenders, phone companies and some landlords will see, and it lets you catch mistakes or fraud before they cost you.
Who holds credit reports in Australia
Credit reports are kept by private credit reporting bodies. Moneysmart's page on credit scores and credit reports (updated 9 September 2026) names Experian and Equifax and warns that the bodies can hold different information about you. A lender may use one and not the other, so a clean report at one does not prove a clean report at the other.
Many people still search for illion, which was long the third name in Australian consumer credit reporting. The Moneysmart page we read names only Experian and Equifax, and we did not open an official page confirming illion's current consumer service. If you want an illion report, go to illion's own site and see what it currently offers; do not rely on a third-party site that claims to fetch it for you.
How to request your free report
- Go to the credit reporting body's own website, not an advert or a comparison site. Moneysmart warns against providers who ask you to pay or ask for card details for a report you are entitled to free.
- Choose the free report option. Some bodies also show a free score; others sell subscriptions alongside the free report, which you do not need.
- Give the identity details asked for, such as your name, date of birth, address history and an identity document. Use the same name format you used when opening accounts in Australia; mismatches between a Nigerian passport name order and a bank record can create a split or empty file.
- Repeat with the other body. Because they hold different information, one request is not enough.
- Save the report and diary the next check. Moneysmart says a free copy is available every three months.
Reading the report as a newcomer
Moneysmart lists what a report contains. The table sets out each part and what to look for in your first year.
| Section | What Moneysmart says it holds | What a newcomer should check |
|---|---|---|
| Personal details | Name, date of birth, licence number, employer, addresses | Spelling of your name and every Australian address you have used |
| Credit products | Products from the last two years, with provider, limit and dates | Only accounts you opened; a phone plan or card you do not recognise is a warning sign |
| Repayment history | Last two years; missed means not paid within 14 days of the due date | No missed months during your move between addresses |
| Defaults | Utility bills, credit cards and loans; five years, seven for a clearout | Final bills from an old flat that you never received |
| Applications and requests | Number of applications, and providers who asked for your report | Applications you did not make, which may mean identity theft |
| Court and insolvency | Bankruptcies, judgments, debt agreements | Should be empty for a new arrival |
A thin file with one phone plan and one card, all paid on time, is a good start. An empty file is not a bad mark; it simply gives a lender little to go on. Moneysmart says scores run from zero to 1,000 or 1,200 depending on the body, and that the amount you borrow, the number of applications and on-time payment all affect them.
Fixing errors and suspected fraud
Moneysmart says you can ask the credit reporting body to correct wrong information free of charge, and that only wrong information can be removed. A correct default cannot be erased by a repair company, whatever it promises. If you think someone has used your identity, for example after a lost passport or a phishing message, you can ask for a temporary ban on your report so that new credit cannot be opened in your name while you sort it out.
Hardship arrangements are treated differently: Moneysmart says they are shown only for the months they are in place, are deleted after 12 months and do not affect your score. If a bill is getting away from you, speaking to the provider early is better for your file than a missed payment.
What to check first
- Request reports from both Experian and Equifax within your first months, once you have an Australian address and at least one account.
- Confirm the name order matches your passport and bank records.
- Look for applications or products you did not make.
- Set a reminder to check again in three months, and at least yearly after that.
- Keep your address current with every provider each time you move.
Where Pryme fits
Pryme does not report to Australian credit reporting bodies or lend in Australia. What it does is keep the Nigerian side of your money separate and visible: one account holding naira, US dollars, pounds and euros for family support and bills at home, with sign-in protected by an authenticator app. See the multicurrency account and how security works, then read building a credit history as a new migrant, the 100-point ID check with a Nigerian passport and our first 90 days money checklist.
Questions people ask
Is a credit report free in Australia?
Yes. Moneysmart says you can get a free copy every three months from a credit reporting body, and you should not pay a third party for it.
Do I need to request from Equifax and Experian separately?
Yes. Moneysmart says the bodies can hold different information, so check both.
Is illion still a credit bureau in Australia?
Moneysmart's page names Experian and Equifax. We could not confirm illion's current consumer service on an official page, so check illion's own website.
Will checking my own credit report lower my score?
Moneysmart encourages checking at least yearly. The requests it lists on a report are those made by credit providers.
Sources
- Moneysmart (ASIC): Credit scores and credit reports (updated 9 Sep 2026) · accessed Oct 2026
- ATO: What is a tax file number? (updated 22 Jun 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.