Next Cycle Credit Reporting Policy
“Next Cycle,” “we”, “us” and “our” refers to Next Cycle Pty Ltd ABN 81 677 681 499 and each of its related bodies corporate.
This Credit Reporting Policy sets out our approach to the collection, handling and disclosure of your credit related personal information, including that obtained from credit reporting bodies (CRBs) in accordance with the Privacy Act 1988 (Cth) (Act), Privacy Regulation 2013 (Cth) (Regulation) and the Privacy (Credit reporting) Code (CR Code).
This Credit Reporting Policy applies to current and former credit customers, as well as other individuals we deal with in connection with credit we provide (such as guarantors and directors).
Our separate Privacy Policy sets out how we collect, use, disclose and otherwise manage other types of personal information.
From time to time, it may be necessary for us to review and revise our Credit Reporting Policy. We may notify you about changes to this Credit Reporting Policy by posting an updated version on our website.
If you have any questions about this Credit Reporting Policy, please let us know by contacting us at:
Email: Debbie.forrest@nextcycle.com.au
Address: Unit 1 107-109 Newton Road, Wetherill Park NSW 2164
Phone: 02 9571 0570
1. What types of credit-related personal information do we collect, hold, use and disclose?
In this Credit Reporting Policy, the following information is referred to collectively as “credit-related personal information” and includes, within the meaning of the Act, credit information, credit reporting information, credit eligibility information and credit score.
If you apply for credit with us or provide a guarantee, the types of credit-related personal information that we may collect, hold and disclose includes:
(a) identity details including your name, address(s), date of birth, occupation, employer details, and your driver’s licence number;
(b) details of the type of credit and associated product that you have applied for with us, including administrative information such as account and customer numbers;
(c) that we and other credit providers are or have been a provider of credit to you and the type, characteristics and maximum amount of credit that we have provided or will provide;
(d) the date that any credit contract we or other credit providers have or had with you was entered into and the date that it is terminated or otherwise ceases;
(e) your repayment history or default information (i.e. whether in relation to credit provided by us or other credit providers);
(f) payments owed to us or another credit provider, in connection with credit provided to you or in relation to which you are a guarantor;
(g) whether in our or another credit provider’s opinion you have committed a serious credit infringement;
(h) whether you have entered into arrangements (including financial hardship arrangements) with us or other credit providers in connection with credit provided to you;
(i) court proceedings information, personal insolvency or bankruptcy information and credit-related publicly available information; or
(j) scores, ratings, summaries, evaluations and other information relating to your creditworthiness, which is derived by us or by CRBs.
2. How is your credit-related personal information collected?
This credit-related personal information may be collected in a number of ways, including:
(a) where provided by you directly to us (such as on applications form or other documents) or by persons acting on your behalf;
(b) where provided by third parties, such as other CRBs, government agencies or other credit providers; or
(c) where such information is in the public domain.
3. Purpose for which we may collect, hold, use and disclose your credit-related personal information
We will only collect, hold, use and disclose your credit-related information as reasonably necessary for our business purpose and as permitted by law.
These purposes may include:
(a) to manage and assess whether to provide credit to you or an associated entity or to accept a guarantor;
(b) to assess creditworthiness which is used in our decision-making processes and ongoing reviews;
(c) to participate in the credit reporting system and providing information to CRBs;
(d) to undertake securitisation activities, debt recovery, enforcement activities and legal proceedings including in relation to guarantors and credit infringement;
(e) to detect and prevent fraud and other risks to us and our clients and assess insurance risks and claims by conducting identity, credit, money laundering and conflict checks (including consideration of information regarding political affiliations and criminal offences committed or alleged to have been committed);
(f) to meet legal and regulatory requirements. We may need to collect and/or disclose your personal information in order to comply with obligations under different Australian and international laws. Such laws include, but are not limited to, the National Consumer Credit Protection Act (e.g., to comply with responsible lending requirements), the Anti-Money Laundering and Counter-Terrorism Financing Act (e.g. to comply with identity verification requirements), the Personal Property Securities Act and State and Territory real property and security interests laws (e.g. to register and search for security interests), the Banking Act, the Financial Sector (Collection of Data) Act, the Corporations Act and other regulatory legislation (e.g. requiring us to maintain client and transaction records, to provide information relating to your deposits and loans to APRA for prudential and monitoring purposes and to make reports and provide other information to regulators such as ASIC) and the Tax Laws Amendment (Implementation of the Common Reporting Standard) Act (e.g. requiring us to report to the ATO financial account information on non-residents), the Taxation Administration Act, the Income Tax Assessment Act and other taxation laws (e.g. to comply with information requests issued by the Commissioner of Taxation); or
(g) to deal with complaints.
4. Disclosure to third parties
Generally, we disclose credit-related personal information to third parties that help us with our business. These may include:
(a) our agents, our related bodies corporate, third party funders, contractors, representatives or external service providers we engage (for example, technology service providers, our insurers, financial advisers, legal advisers or auditors);
(b) the suppliers or retailers of any goods or services financed with credit we provide;
(c) other financial institutions, superannuation funds, stockbrokers, debt collection agencies, custodians, funds managers and portfolio service providers or security registration bodies;
(d) credit reporting bodies and participants in financial and payment systems, such as banks, credit providers, clearing entities and credit card associations;
(e) any person acting on your behalf including a financial advisor, lawyer and accountant;
(f) government agencies or dispute resolution schemes that assist consumers in relation to credit;
(g) regulatory bodies in Australia; or
(h) your guarantors and security providers.
We may also disclose your credit-related personal information to others where:
(a) we are required or authorised by law or where we have a public duty to do so;
(b) you have expressly consented to the disclosure; or
(c) we are otherwise permitted to disclose the information under the Act.
5. Disclosure to CRBs
(a) We may disclose your credit-related personal information to CRBs.
(b) For example, we may exchange your credit-related personal information with CRBs:
(i) to validate your identity, to assess your credit application, and to manage your account with us; or
(ii) if or your guarantor fail to meet your obligations in relation to the credit provided by us.
(c) Each CRB has a policy for managing your credit-related information that you may access by contacting them.
(d) A CRB may use your credit reporting information to assist a credit provider to market to you by pre-screening you for direct marketing by the credit provider. This process is known as a “pre-screening”. If you do not want any of the CRBs listed above to use your information for the purpose of pre-screening, you have the right under the Privacy Act to request that they exclude you by contacting them.
(e) If you are a victim of fraud (including identity-related fraud), you are entitled under the Privacy Act to request that a CRB not use or disclose credit reporting information they hold 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. The period while this applies is called a “ban period”. You can make such a request to any of the CRBs listed above.
6. Security of your personal information
(a) Your credit-related personal information may be stored either in hard copy or electronically. Some of your credit-related personal information may be held on portable devices such as mobile phones, laptop computers or in diaries operated and held by our staff members.
(b)Where we use our own storage facilities, we will take reasonable steps to ensure the security of your information.
(c) Where we engage a third-party service provider, we will make sure that appropriate data handling and security arrangements are in place.
(d) We use a range of physical and electronic security measures to protect the security of the information we hold.
(e) We are committed to keeping all your information secure and have taken reasonable steps to prevent unauthorised access, modification or disclosure. We have implemented technology and security features to make our systems as secure as possible and to safeguard your information.
(f) We take reasonable steps to destroy or permanently de-identify any information after it can no longer be used.
(g) Please contact us immediately if you become aware or have reason to believe that there has been any unauthorised use of your information in connection with us.
7. Requesting access to and correcting of your credit-related personal information
7.1 General The APPs permit you to obtain access to the credit-related personal information we hold about you in certain circumstances and also allow you to correct inaccurate information ,subject to certain exceptions.
7.2 Access to your credit-related personal information
(a) Before giving you access to your records, we may require you to provide proof of your identity (including verification of your full name and other aspects of your personal information).
(b) Upon your request, we will provide you with access to your credit-related personal information we hold if it is reasonably practicable to do so, within a reasonable period after your request is made.
(c) If you would like to obtain such access, please contact us.
7.3 Corrections of your credit-related personal information
(a) You can request that we correct credit-related personal information we hold about you. We will make corrections to your credit-related personal information, if:
(i) we are satisfied that, having regard to a purpose for which the information is held, the information is inaccurate, out of date, incomplete, irrelevant or misleading; or
(ii) you request us to correct the information.
(b) Within a reasonable period of time, we will take such steps (if any) as are reasonable in the circumstances to correct that information to ensure that, having regard to the purpose which it is held, the information is accurate, up to date, complete, relevant and not misleading.
(c) If we refuse to correct your credit-related personal information, we will notify you in writing and provide reasons.
8. Overseas Transfer
(a) Your credit-related personal information will not be disclosed to recipients outside Australia unless you expressly request us to do so.
(b) If you request us to transfer your credit-related personal information to an overseas recipient, the overseas recipient will not be required to comply with the APPs and we will not be liable for any mishandling of your information in such circumstances.
9. Complaint Procedure
(a) If you would like more information about the way we manage credit-related personal information that we hold about you or are concerned that we may have breached the Privacy Act or CR Code, you have a right to complain.
(b) You can make a complaint by contacting us using the contact details set out above.
(c) We will do our best to resolve your complaint as quickly as possible, and in any event, aim to respond to you within 30 days. We may seek further information from you to clarify your concerns.
(d) If you are not satisfied with our response to your complaint, you can refer the matter to the Office of the Australian Information Commissioner:
Online: www.oaic.gov.au
Mail: GPO Box 5218, Sydney NSW 2001
Phone: 1300 363 992
Fax: 02 9284 9666
Last updated: May 2025
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