Just for my free VEDA Credit File

[Beta4Me]

Has anyone yet got any CCR info showing up in their Veda account yet? I've got nada.

 

[TomVexille]

Has anyone yet got any CCR info showing up in their Veda account yet? I've got nada.

Nothing here either

 

[ComeFlyWithMe]

Has anyone yet got any CCR info showing up in their Veda account yet? I've got nada.

Nope, even on recent CC applications.

 

[ExcuseMyFrench]

I just purchased a Veda Plan to keep on top of my credit score.

Is 695 a good score?

My report is showing 7 credit enquiries, 2 on the same day from ANZ for a mortgage a month ago then a couple of credit cards back in March.

It might be safer to wait a little before submitting a new application... Not sure how the mortgage enquiry impacted my score.

 

[coles525]

Good is better then average...

It tells you what your number means.

I'm currently in the good basket.

 

[ExcuseMyFrench]

Have you applied for a new credit card with a Good veda score?

 

[burmans]

I just purchased a Veda Plan to keep on top of my credit score.

Is 695 a good score?

My report is showing 7 credit enquiries, 2 on the same day from ANZ for a mortgage a month ago then a couple of credit cards back in March.

It might be safer to wait a little before submitting a new application... Not sure how the mortgage enquiry impacted my score.

Come on, the Veda site itself gives a pretty good guide on this, no it not a good score but neither is at a bad score.

 

[ExcuseMyFrench]

Come on, the Veda site itself gives a pretty good guide on this, no it not a good score but neither is at a bad score.

Sorry I should have been more precise in my first post. I was actually wondering if it was a high enough score to get approval for a new credit card as I have had 2 applications rejected back in March. Not keen on applying while it's too low.

I suspect a Good veda score is high enough for a new credit card but not in all cases and certainly not in mine.

I'll keep waiting.

 

[ninja-tim]

Sorry I should have been more precise in my first post. I was actually wondering if it was a high enough score to get approval for a new credit card as I have had 2 applications rejected back in March. Not keen on applying while it's too low.

I suspect a Good veda score is high enough for a new credit card but not in all cases and certainly not in mine.

I'll keep waiting.

Who knows how credit cards applications are processed?

Can't really base an application chances solely on your VEDA Score, gotta consider your income and other risk factors too.

 

[exceladdict]

Who knows how credit cards applications are processed?

Can't really base an application chances solely on your VEDA Score, gotta consider your income and other risk factors too.

Check your experian score too via creditsavvy, mine is interestingly different to Veda. This to me proves that different agencies (let alone banks) weight credit information and calculate risk very differently.

 

[Cynicor]

Who knows how credit cards applications are processed?

Can't really base an application chances solely on your VEDA Score, gotta consider your income and other risk factors too.

Agree. I got yet another Amex with a score around there, but haven't tried for anything else. No idea what my score is currently, don't really care. I'll just apply and if I'm knocked back (never happened) then rest it for a while.

 

[andye]

I just purchased a Veda Plan to keep on top of my credit score.

Is 695 a good score?

My report is showing 7 credit enquiries, 2 on the same day from ANZ for a mortgage a month ago then a couple of credit cards back in March.

It might be safer to wait a little before submitting a new application... Not sure how the mortgage enquiry impacted my score.

I've had 4 applications approved with similar/lower scores (NAB, Amex, Diners, ANZ) . I understand a mortgage application usually pushes the score up a bit. If nothing is going to expire (i.e an enquiry from 5 years ago) doubt that your score will change much by waiting. As others have said Veda score not the 'be all and end all'

 

[burmans]

Check your experian score too via creditsavvy, mine is interestingly different to Veda. This to me proves that different agencies (let alone banks) weight credit information and calculate risk very differently.

Absolutely, the Credit Bureaus would each tell you their "proprietary" formula is better at predicting risk. Hard to make that argument if its exactly the same formula!

 

[ComeFlyWithMe]

My understanding is that very few institutions use the Veda score, they have their own lending criteria and it is more about your financials and what you have declared on the application (existing card limits, assets, liabilities, etc.)

 

[Cool Cat Phil]

My understanding is that very few institutions use the Veda score, they have their own lending criteria and it is more about your financials and what you have declared on the application (existing card limits, assets, liabilities, etc.)

I do know that HSBC use The Veda credit score ( which incidentally in the past , between them & Veda screwed up my credit score by referencing my credit past to the wrong person..... True story, which took months to fix ).

But other than I know that most of the big banks use their own criteria as you alluded to.

 

[burmans]

My understanding is that very few institutions use the Veda score, they have their own lending criteria and it is more about your financials and what you have declared on the application (existing card limits, assets, liabilities, etc.)

They mostly use the Veda info but yes its only one factor.

 

[ComeFlyWithMe]

They mostly use the Veda info but yes its only one factor.

They use Veda information from your credit file, but very few use the actual score.

 

[burmans]

They use Veda information from your credit file, but very few use the actual score.

That may change with CCR, the score will become much mor predictive, I agree that under our current scenario the bureau information is off limited value.

 

[amaroo]

Good day for Veda!

Veda receives $2.3bn takeover bid from US rival Equifax

 

[Foreigner]

Came across ad with link to getting your VedaScore. Reading last several posts here, they suggest credit providers do not rely on the score we get at end of process.