CC churning - equifax scores

[rock86]

My equifax score has gone up two months in a row. It’s now back to the highest level it’s been at for several months. I have only applied for one credit card in the last six months and three in the past twelve months.

Haven't got my updated equifax score. Start of the month my equifax score was 880 & experian score was 490 - 3 cards in the past 9 months, before that I wasn;t even in the world of churning (oh look at what you've done to me AFF ).

But was approved for a St George Platinum on Wednesday with a credit enquiry showing up with both credit agencies, as @Dr Ralph has pointed out a few times, I doubt very much weight is given to the 'score' an agency reports.

 

[Dr Ralph]

But was approved for a St George Platinum on Wednesday with a credit enquiry showing up with both credit agencies, as @Dr Ralph has pointed out a few times, I doubt very much weight is given to the 'score' an agency reports.

My St George application from several weeks ago hasn't shown up on any of my scores (yet).

 

[rock86]

My St George application from several weeks ago hasn't shown up on any of my scores (yet).

I've never had a card through them, do you think that makes a difference to whether they do a credit enquiry?

 

[Dr Ralph]

I've never had a card through them, do you think that makes a difference to whether they do a credit enquiry?

Not sure. I have had checks from them register previously and are still visible on my file.

 

[mviy]

Start of the month my equifax score was 880

That's a much better score than mine and I haven't had any declined credit card applications. Keep churning.

 

[rock86]

That's a much better score than mine and I haven't had any declined credit card applications. Keep churning.

I don't think the Equifax score has updated though since NAB started issuing its CCR information though, so we'll see in a few days what impact it'll have (I'm guessing similar to the Experian - which I ain't to worried about as per above).

 

[mviy]

My score has gone up since NAB started doing CCR (I've always paid the balance off in full before the due date) though I'm not due to get a credit report for a while yet.

With my current score I'm seriously considering churning again soon. Just need to have things to put through the card to get the sign-up bonus.

 

[andye]

My st george application on 15th Jan came up on all three

 

[rock86]

My score has gone up since NAB started doing CCR (I've always paid the balance off in full before the due date) though I'm not due to get a credit report for a while yet.

With my current score I'm seriously considering churning again soon. Just need to have things to put through the card to get the sign-up bonus.

Sign up for IG markets and load funds via Paypal (can now only do with Visa & MC - no AMEX). Costs 1%, but a relatively small fee to obtain bonus points.

 

[rock86]

Equifax score update, dropped from 861 to 761 with a St George CC application in the month. However, I don't think NAB has actually provided any CCR information on my Equifax file, which is very weird as my Experian file has it all there

 

[get me outta here]

Anyone else not able to log in to Equifax/Veda? I spoke to them and sent a new temp p/w but that say has doesn't work either.

 

[get me outta here]

Exposing Australia’s rotten credit reporting industry
Published by John Kavanagh at March 19, 2018

Exposing Australia's rotten credit reporting industry | Shed Connect

 

[andye]

Mrs andye's experian/creditsavvy score has gone back up from 583 to 803 this month with no new information (just about possible something has expired from 5 years ago)

Mine is still in doldrums but at least its her turn to make an application

So today on creditsavvy:
Mrs andye's drops from 803 to 653
I jump from 583 to 803
No information has changed on either (both still have closed cards registered as contributing but no record of payments paid or missed)

 

[EestiTiger]

So today on creditsavvy:
Mrs andye's drops from 803 to 653
I jump from 583 to 803
No information has changed on either (both still have closed cards registered as contributing but no record of payments paid or missed)

Same my creditsavvy jumped up quite a bit today and no idea why

 

[rock86]

Same my creditsavvy jumped up quite a bit today and no idea why

The credit rating point systems at the moment is quite weird.

In saying that, my Veda score is 780 & Experian is 565, and was approved a few days ago even with that Experian score for the St George Altitude Platinum.

So as discussed earlier, it would seem the main criteria for the banks is still going to be serviceability with not too much importance put on your 'score'.

 

[get me outta here]

I can't log in to Equifax. It comes up with an 'error' and a code. Twice called up and 4 times they sent me a new password. They said they had to see what the problem is and I have never heard back for the contact they said they would make. I will be asking for a refund, if I can ever get someone useful.

 

[Danger]

My Credit Savvy score went up more than 200 points yesterday, back to exactly where it was a month ago, despite an application to St George and the cancellation of a Westpac card.

 

[burmans]

My Credit Savvy score went up more than 200 points yesterday, back to exactly where it was a month ago, despite an application to St George and the cancellation of a Westpac card.

The devil is all about the information they have (and don't have). Westpac aren't contributing Comprehensive Credit (Repayment history) information at the moment so Credit Savvy don't know either that you had the card nor the fact you cancelled it.

In my case my score went up 70 points but I can pinpoint exactly why, last month the only CC they have repayment history on (NAB) had 1 months repayment, this month it has two, no other changes.

Not sure why yours would have gone up, does the repayment history section show anything?

 

[Danger]

The devil is all about the information they have (and don't have). Westpac aren't contributing Comprehensive Credit (Repayment history) information at the moment so Credit Savvy don't know either that you had the card nor the fact you cancelled it.

In my case my score went up 70 points but I can pinpoint exactly why, last month the only CC they have repayment history on (NAB) had 1 months repayment, this month it has two, no other changes.

Not sure why yours would have gone up, does the repayment history section show anything?

I pay my credit cards off daily (usually within a minute or two of making the charge). Now if credit providers showed that information to reporting agencies, I'd be happier.

 

[andye]

I pay my credit cards off daily (usually within a minute or two of making the charge). Now if credit providers showed that information to reporting agencies, I'd be happier.

Just interested-why don't you take advantage of the interest-free period?