People, who would want to purchase anything on credit card might soon have to offer extra sensitive information regarding their credit history and also give driver’s license info for the initial time.

The projected alterations are seen as offering more complete information for lenders and a broader sharing of private economic information, according to the Privacy Commissioner.

After a two-year review, Commissioner, Marie Shroff made announcement of a proposed change to the Credit Reporting Privacy Code, and called for public submissions by August 13.

The new credit reporting rules will signify that more information concerning borrowers will be made obtainable to the ones, who are lending money.

As per the changes that have been proposed, the credit reports would be more wide-ranging, Ms. Shroff said, which would include the use of the driver's license details for the foremost time, though that would be supervised, while in use with strong safety.

A driver's license cannot be used for any disparate purpose such as a credit report, but Ms. Shroff said the modification must help persons by receiving more precise information in the credit reporting scheme.

The new information is likely going to comprise of a consumer's type of credit account, their credit limit and credit supplier, plus the standing of accounts as open or closed.