Comprehensive credit reporting (CCR) is a system where banks and lenders report your credit history and other financial data to credit bureaus, like Experian or illion.
Banks and lenders share data that are both positive and negative. Negative data include defaults and missed payments, whereas positive data comes in the form of regular repayments.
Your credit data includes:
- Enquiries - A record in your credit report when you apply for new credit.
- Repayment history - A snapshot of all payments on your loans or credit card.
- Defaults, bankruptcies and court judgments
- Details of credit accounts and credit providers e.g. mortgages, credit cards or personal loan
- Credit limit - Amount that you've borrowed or the maximum that you can borrow in the case of credit cards.
Your credit reports change when more lenders share your data with the credit bureaus. As your credit report changes, so will your credit scores.