Finance Dictionary : Credit History

Credit History


Explore Credit History, a comprehensive record of credit engagements for individuals and businesses, influencing loan assessments. Visit ASIC's MoneySmart website for in-depth insights into credit reports.



Credit history is a detailed report chronicling the past credit arrangements of individuals or businesses. This report encapsulates various aspects of an entity’s financial behavior, including credit accounts, loan repayment history, outstanding debts, and any financial mishaps. Lenders and financial institutions often scrutinize credit histories when evaluating loan applications, as they provide valuable insights into the creditworthiness and financial responsibility of the applicant.


A favorable credit history, characterized by punctual payments and responsible credit management, enhances the likelihood of loan approval and favorable terms. In contrast, a poor credit history, marked by defaults or delinquencies, can lead to credit denials or less favorable lending conditions.


Regulatory bodies and credit reporting agencies oversee credit histories to ensure accuracy, consistency, and fairness in reporting. Understanding one’s credit history is crucial for making informed financial decisions and proactively managing credit.


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