Credit Reporting Policy Overview

Home Credit Reporting Policy Overview

Synergex Holdings Pty Ltd (ABN 94 685 137 900) has established a comprehensive Credit Reporting Policy that outlines how the company collects, uses, holds, discloses, and protects credit information. This policy is designed to comply with the Australian Privacy Principles, the Privacy Act 1988 (Cth), and the Credit Reporting Code 2014 Version 2.

Collecting Credit Information

Synergex collects credit information from various sources, including:

  • Credit Applications: Information provided by individuals when applying for credit, such as identification details, credit history, and financial information.
  • Credit Reporting Bodies: Credit reports obtained from credit reporting bodies like Experian Australia and Equifax Australasia, which provide information on credit history, payment behavior, and creditworthiness.
  • Publicly Available Sources: Information obtained from publicly available sources, such as public registers and court records.

How We Use Credit Information

Synergex uses credit information for various purposes, including:

  • Assessing Credit Applications: Evaluating creditworthiness and making informed decisions about credit approvals.
  • Managing Credit Products: Managing existing credit products, including monitoring payment behavior and credit limits.
  • Collecting Payments: Collecting payments owed to Synergex or other credit providers.
  • Disclosing to Related Companies: Sharing credit information with related companies that are also considering providing credit or assessing creditworthiness.

Disclosure of Credit Information

Synergex discloses credit information to various parties, including:

  • Credit Reporting Bodies: Providing credit information to credit reporting bodies to help them maintain accurate credit records.
  • Other Credit Providers: Sharing credit information with other credit providers that are considering providing credit or assessing creditworthiness.
  • Third-Party Service Providers: Disclosing credit information to third-party service providers that assist Synergex with credit management, debt collection, or other services.

Working with Credit Reporting Bodies

Synergex deals with credit reporting bodies like Experian Australia and Equifax Australasia, which collect and provide credit information to help assess creditworthiness. These credit reporting bodies may include credit information in reports that are provided to credit providers, which can affect an individual's ability to obtain credit.

Overseas Disclosure and Security

Synergex only discloses credit information overseas when permitted by law and ensures that:

  • Overseas Recipients Protect Information: Overseas recipients protect the information in accordance with Australian Privacy Principles.
  • Individual Consent: Individuals have provided consent for the disclosure after being informed that there is no guarantee that the overseas recipient will protect the information in accordance with Australian Privacy Principles.

Synergex takes reasonable steps to protect credit information from misuse, loss, or unauthorized access, including:

  • Securing Information: Implementing physical and electronic security measures to protect credit information.
  • Limiting Access: Restricting access to credit information to only those who need it for legitimate purposes.

Your Rights and Options

Individuals have the right to:

  • Access Credit Information: Request access to their credit information held by Synergex or credit reporting bodies.
  • Correct Credit Information: Request correction of inaccurate credit information.
  • Complain about Privacy Breaches: Lodge complaints about privacy breaches or concerns about credit information handling practices.

Resolving Complaints and Disputes

Synergex has an internal complaint resolution scheme that allows individuals to lodge complaints about privacy breaches or concerns about credit information handling practices. If individuals are not satisfied with the outcome, they can approach external dispute resolution schemes like the Office of the Australian Information Commissioner (OAIC) or the Australian Financial Complaints Authority (AFCA).

Getting in Touch

Individuals can contact Synergex's Compliance Officer or customer service team to:

  • Request Access to Credit Information: Obtain access to their credit information held by Synergex.
  • Correct Credit Information: Request correction of inaccurate credit information.
  • Lodge Complaints: Lodge complaints about privacy breaches or concerns about credit information handling practices.

Contact details:

  • Email: hello@synergex.com.au
  • Phone: (08) 6185 0186
  • Mail: PO Box 867, Subiaco WA 6008