Multiple CC applications

[lukus g]

Hi All,

I'm relatively new to Australia as I've only been in Sydney now for 13 Months. I have a question regarding multiple CC applications. Is it the case here that if i apply for a new CC and it is approved my wife should delay applying for a completely different card due to the impact on credit score or are we treated as two separate entities ?.

thanks

 

[Forg]

The ‘credit score’ thing’s quite different here to some other places, eg. If you apply & the application fails it’s no different to having never applied at all. I can’t think of any negative effect (on credit scoring) of differences in the timing on two different applications.

If you do have concerns, any reason you don’t get one credit-card account & 2 cards?

 

[VPS]

AFAIK two separate credit scores but I may be wrong

 

[TomVexille]

The ‘credit score’ thing’s quite different here to some other places, eg. If you apply & the application fails it’s no different to having never applied at all. I can’t think of any negative effect (on credit scoring) of differences in the timing on two different applications.

If you do have concerns, any reason you don’t get one credit-card account & 2 cards?

I don't think that's quite true. Especially when one has little credit history in Australia.

But AFAIK even a married couple have separate credit reports.

 

[flyingdoc`]

Separate credit scores.

Credit scores do take into account the number of applications - successful or not. Banks get nervous if you've applied++ within a short period of time (suggests desperation).

 

[Forg]

Separate credit scores.

Credit scores do take into account the number of applications - successful or not. Banks get nervous if you've applied++ within a short period of time (suggests desperation).

I should clarify what I meant; there’s no magical number/total over which you won’t have a successful application & under which you will, or anything like that. The number of applications is recorded, but they don’t have a particular ‘points value’.

But given the two scores are separate, I guess it’s immaterial in this case.

 

[odysseus]

I should clarify what I meant; there’s no magical number/total over which you won’t have a successful application & under which you will, or anything like that. The number of applications is recorded, but they don’t have a particular ‘points value’.

But given the two scores are separate, I guess it’s immaterial in this case.

That's true for all characteristics though.

They all play a part, but individually none are definitively defined as thresholds. For example, the fact you may have made x late payments won't automatically make an unsuccessful application. But obviously the more of those that occur, and within a specific time, and with the combination of other factors, the more likely to be declined. i.e. number of applications is an equivalent metric to other characteristics.

 

[Dr Ralph]

Separate entities. No need to wait.

 

[theblank]

Hi All,

I'm relatively new to Australia as I've only been in Sydney now for 13 Months. I have a question regarding multiple CC applications. Is it the case here that if i apply for a new CC and it is approved my wife should delay applying for a completely different card due to the impact on credit score or are we treated as two separate entities ?.

thanks

You might find it difficult to get a credit card if you have no credit history at all here, but it depends on all your circumstances including job type and industry.

You might have a history file already if you have taken up a contract for a mobile phone, or perhaps electricity. In any case, it is not going to hurt you to apply for a credit card, if you do get declined, and the likely reason is you are too new here,. just wait a year. The fact that you have applied, would mean a credit history file has been created. Therefore the next time you apply the personal data can be cross checked and verified.