In 2012 the Credit Reporting Privacy Code was changed, and now means that eligible credit providers like Latitude Financial Services Limited (“Latitude”) can share more information with credit reporting agencies, on an ongoing basis. This means that Latitude may provide credit reporting agencies with certain credit related information about its customers’ accounts, such as:
- type of credit account e.g. credit card
- amount of credit extended (but not current balance)
- status of account e.g. open (including account open date)
- details of credit provider i.e. the lender who provided the credit
- monthly reporting of repayment history e.g. whether an account was paid on time, and
- changes in personal details such as address, contact details, etc.
For further information on comprehensive credit reporting, please see the following website www.privacy.org.nz/credit-reporting-privacy-code/