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Comprehensive Credit Reporting (CCR Data) at Spark
Each month Spark supplies our Consumer customer’s payment information to the three main credit bureaus in New Zealand. Those credit bureaus are Equifax, Illion and Centrix.
We report both positive/current account information and accounts that are in arrears. The data is visible on the customer’s credit report for 24 months.
There’s a delay in the reporting that Spark provides the bureaus. We provide an update to the bureaus around the 10th day of each month. This update reports the payment data for our customers for the prior month.
Spark have contractual obligations under the Credit Reporting Privacy Code to ensure the data we report is accurate and reliable. Therefore, we’re unable to request an amendment to the CCR data unless there’s a clear error on Spark’s behalf. Any adjustments to data will be updated by the credit bureaus in approximately 2 business days. However, any amendments to reporting through applications like ClearScore can take 4 – 6 weeks to be updated - this timeframe is outside of Spark’s control.
When an account is referred to a collection agency and a default is placed on the customer’s credit report, it’s important to note this remains for 5 years from the date of loading. Once the account is paid the default status is updated to Paid and will automatically drop off after the 5-year period expires.
Overdue accounts
Customers are reported as in arrears when the overdue account balance on their account is greater or equal to $50.00, the customer may also have incurred a late payment fee.
There are a few exceptions or situations related to payment arrangements when our CCR Data reporting is modified or not reported. These exceptions are explained in the below table.
Payment arrangements
If you enter a payment arrangement with Spark, it may impact your credit rating (that is, your ability to seek credit from Spark and other providers). Your credit rating is sometimes also referred to as your credit score. More information around the types of payment arrangements and their potential impact on your credit rating is outlined in the table below.
Impact
Payment arrangement types and potential Comprehensive Credit Reporting (credit rating) impact:
| Type | Duration | Credit Rating Impact |
|---|---|---|
| Short term Credit Extension | Short term extension or agreed change to the Due Date for payment of the account | Not reported under Comprehensive credit reporting, therefore unlikely to impact credit rating. |
| Longer term Extended Credit Arrangement (Up to 6 months) | Longer term formalised repayment arrangement where customer repays account in agreed instalment and frequency - within a maximum of 6 months | Reported under Comprehensive Credit Reporting - Scheme of Arrangements. This information can be viewed and taken into consideration by other Credit Providers and may impact credit rating. (This is effective for new arrangements from 1st July 2021). |
| Long term Extended Credit Arrangement (where the repayment term is greater than 6 months) as a result of a customer's application for Spark Hardship. Note: to apply for Hardship with Spark, the repayment term must be greater than 6 months for active accounts i.e. customer still has an existing landline, mobile or broadband account with Spark and greater than 12 months for disconnected accounts i.e. customer’s Spark landline, mobile or broadband accounts have been disconnected. |
Longer term formalised repayment arrangement where customer repays account in agreed instalment and frequency - duration of payment agreement is longer than 6 months | Account is flagged as under Hardship with Spark and will show in both Account & Payment status and reported as such via Comprehensive credit reporting. This information can be viewed and taken into consideration by other Credit Providers and may impact credit rating. (This is effective for new arrangements from 1st July 2021). |