Credit reporting policy
Powershop Australia Pty Limited’s (Powershop) credit reporting policy set out below outlines how Powershop manages your credit information as required by the Privacy Act 1988 (Cth) (the Act) and the Privacy (Credit Reporting) Code 2014 (Version 2.1) (the CR Code).
This policy includes details on the following types of personal information:
“credit information”, which is personal information that relates to credit that has been provided to you or that you have applied for, including credit for personal, domestic or household purposes and in connection with a business (such as your identification details, information about your account, the type and amount of credit, and your repayment history information, such as whether you have made or missed a payment on your credit facility);
“credit eligibility information”, which is personal information related primarily to your credit-related dealings with other credit providers and includes credit reporting information disclosed by credit reporting bodies to Powershop and CP derived information; and
“CP derived information”, which is personal information that is derived from credit reporting information about you disclosed to Powershop by a credit reporting body, that has a bearing on your credit worthiness and is used, has been used or could be used in establishing your eligibility for credit, such as our internal credit scores.
The ‘what’ and ‘how’
In offering and enabling services to you, Powershop may collect and hold credit information about you. We may collect credit-eligibility information from credit reporting bodies from time to time. The credit-related information Powershop usually collects and holds includes:
identification information such as your name and addresses, date of birth, occupation, name of your employer and your driver’s license number;
that you have applied for credit, the type and amount of that credit and the fact we have accessed your consumer credit information to assess a relevant application;
that we have been a provider of credit to you (including in relation to white-labelled products) and the type of account, the date the account was opened and closed and maximum amount of credit that we have provided or will provide;
the date that any credit contract we have or had with you was entered into and the date that it is terminated or ceases;
your repayment history i.e. whether or not you made any payment that was due in a particular month, and where a payment was overdue, when it was ultimately paid;
default information about you. i.e. information about a payment owed by you as a borrower or guarantor in connection with consumer credit that remains overdue for more than 60 days and which we can disclose to a credit reporting body if certain requirements under the Act are met;
payment information about some of your overdue payments e.g. a statement that an overdue payment in relation to which default information was provided to a credit reporting body has been paid;
an opinion we have on reasonable grounds that you have committed a serious credit infringement in relation to consumer credit that we have provided to you;
whether you have entered into arrangements with us in connection with credit provided to you;
credit eligibility information as described above;
court proceedings information, personal insolvency information and credit-related publicly available information; and
other information relating to your credit worthiness which is derived by us or by credit-reporting bodies wholly or partly on the basis of the information above.
We may collect the above information:
directly from you or from persons acting on your behalf;
from credit-reporting bodies;
by deriving it from your usage and repayment of any account held with us;
from our service providers, and corporate partners with whom we have entered into white-labelling arrangements;
from debt collection agencies;
from internet sources including search engines such as Google; and
from ASIC and other publicly available sources.
In providing services to you we may collect, use, hold or disclose your credit information and credit-eligibility information for the following purposes:
to manage your account and for the payment for our services;
carrying out credit checks or otherwise assessing your creditworthiness;
to take action if there is a payment default;
to provide information to credit-reporting bodies as permitted by the Act and CR Code; and
to derive scores, ratings and other information relating to your credit worthiness which are used in our decision-making processes.
We may disclose your credit information and credit eligibility information to third parties, including:
our related companies;
organisations that perform credit assessment, management and debt collection activities on our behalf including National Mercantile;
current or prospective guarantors or security providers in relation to credit we are providing to you;
organisations involved in debt assignment.
We may also disclose your credit information to our service providers and white label partners as permitted by the Act and Code.
In some circumstances we may require your consent before being able to make such disclosures.
Credit reporting bodies we exchange information with
We may exchange credit-related information as permitted by the Act and CR Code with the following credit reporting bodies:
Illion Australia Pty Ltd
Telephone 13 23 33
You can contact the above credit reporting bodies or visit their websites to see their policies on the management of credit-related information.
Should you fail to meet your payment obligations to us or commit a serious credit infringement in relation to credit provided by us, we may be entitled to disclose this information to credit-reporting bodies.
Credit reporting bodies may include the information we share with them in reports they provide to other credit-providers to assist them to assess your credit worthiness.
You have the right to request that the credit reporting body exclude your credit-related information from pre-screening for direct marketing offers by Powershop, which Powershop may request the credit reporting body to perform. You should contact each relevant credit reporting body directly if you wish to request this.
You also have the right to request that the credit reporting body not use or disclose credit reporting information it holds about you in circumstances where you reasonably believe that you have been or are likely to be a victim of fraud, including identity-related fraud. You must contact the credit reporting body directly should this be the case.
Keeping your credit information secure
We will keep your credit-related information secure. Most credit-related information will be held in our customer application which is stored and processed in Australia, New Zealand and Singapore. However, some credit-related information will be held in physical files at our offices or electronically in our computer network.
Our staff have unique user identifications and passwords. We work to ensure that our staff understand all of their and our responsibilities under the Act. Our physical premises are protected by reasonable security precautions. We do use some services which involve the transfer, processing and storage of some credit information outside of Australia, including New Zealand and Singapore, and these are likewise protected by unique user identifications and passwords.
Access to and correction of credit information and credit-eligibility information
You may ask us for access to any credit information and credit-eligibility information we hold about you. If you think that information is inaccurate or incorrect, you may ask us to consider correcting it or deleting it from Powershop’s database. You can do this by sending an e-mail to the following address: email@example.com. Within 30 days, we will either make the correction and let you know what we have done or deny your request and let you know why.
If at any time you feel that we have not complied with this policy, the Act or the CR Code please let us know by sending an e-mail to the following address firstname.lastname@example.org or write to us at: Powershop, PO Box 1639, Melbourne VIC 3001, c/o Contact Centre Manager.
We will let you know how we intend to deal with your complaint within 2 days. Within 30 days we will let you know our decision and let you know what you can do if you are not satisfied with our decision.
The way in which we deal with general complaints is set out on our website www.powershop.com.au/complaints.