alexy23
Member
- Joined
- Apr 11, 2016
- Posts
- 270
Does anyone have experience with this free credit score provider?
Seems to be scoring from Dunn & Bradshaw data rather than Veda or Experian?
https://www.creditsimple.com.au/
Credit Simple is part of a group of companies that includes Dun & Bradstreet (Australia) Pty Ltd, a leading credit bureau in Australia. Credit Simple operates entirely separately from Dun & Bradstreet and has complete independence.
Yes, and there's a bit of self perpetuation to all this. Because Veda have more information their picture of you is more complete and hence many credit providers are more likely to go to them for credit information. Because there are more applications going through Veda they will continue to have more information.Thanks for that.
My D&B is my highest score but with only 2 enquiries (both from NAB)
Next comes experian with a very good score but a few missing enquiries.
Veda is the lowest of the 3 agencies but has all the applications I would expect it to have
Thought I'd throw a question out there. Has anyone mapped the impact of a mobile phone plan on their credit score?
I'm considering trying the Vodafone 30 day network guarantee for the sake of testing if I like Samsung phones - is it worth the impact on a credit file?
Thanks for that.
My D&B is my highest score but with only 2 enquiries (both from NAB)
Next comes experian with a very good score but a few missing enquiries.
Veda is the lowest of the 3 agencies but has all the applications I would expect it to have
I dont think they do a credit check with mobile phones. I have never had that happen before and I change phones every other year....
Prepaid and Postpaid are different, the credit reporting provisions definite credit as anything where there are greater than 5 day payments terms. So if you are on a postpaid plan they have a right to check your file, and if they do a check it will be recorded!They can and do. Telstra did when I first signed up with them.
Prepaid and Postpaid are different, the credit reporting provisions definite credit as anything where there are greater than 5 day payments terms. So if you are on a postpaid plan they have a right to check your file, and if they do a check it will be recorded!
I dont think they do a credit check with mobile phones. I have never had that happen before and I change phones every other year.... -=QUOTE]
A friend of mine just tried to switch from Telstra to Vodafone and a credit check was performed by Vodafone.
I dont think they do a credit check with mobile phones. I have never had that happen before and I change phones every other year.... -=QUOTE]
A friend of mine just tried to switch from Telstra to Vodafone and a credit check was performed by Vodafone.
I ended up deciding to buy the phone outright, but am still interested in to what impact this has on credit scores, if they're willing to share.
I imagine it would be some but not substantial?
If you are talking about the Credit Reporting Agencies, no they wont share any real details of how they calculate the scores beyond a high level description of the factors. But even if you are getting a phone and plan, the total credit amount is relatively low (e.g. say 1000 - 1500) vs. the 20-30K+ limits some have on Credit Cards so yes, I would think the impact is relatively minor.I ended up deciding to buy the phone outright, but am still interested in to what impact this has on credit scores, if they're willing to share.
I imagine it would be some but not substantial?
If you are talking about the Credit Reporting Agencies, no they wont share any real details of how they calculate the scores beyond a high level description of the factors. But even if you are getting a phone and plan, the total credit amount is relatively low (e.g. say 1000 - 1500) vs. the 20-30K+ limits some have on Credit Cards so yes, I would think the impact is relatively minor.
This credit score "black mark" you talk about isn't about the application for a relatively small amount of credit, it's about the fact they now have a default recorded against them for failing to meet the required payments. Yes, even a relatively small debt is important if you have a demonstrated unwillingness to pay it. You may not like this but the evidence is pretty strong that if you won't pay small debts you also won't pay big debts (conversely if you have a history of paying big debts - ie mortgage payments, you are a good credit risk).I agree, although the potential to rack up debt is still there, a dodgy uber driver I had was complaining to me how his daughter opened a phone in his name and racked up a few K of debt and then went overseas, and now he can't get a new car loan because of the credit score black mark.
My score was 822 on 21 Feb and 2 credit card applications (approved) later checked tonight and it is down to 656 which I think is a huge drop. I did do a couple of other credit card apps around Xmas time which didn't appear to impact my score but thinking the number of credit card apps rather than just the most recent one has been real catalyst for the sudden drop.
What will also be interesting is I did a six figure car lease in April last year so 12 months will go by soon. Will see if that brings about a sudden uplift in scores over the next month or so.
Not sure if signing up for Electricity can bring down the score as well?