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CC churning - equifax scores

mviy

Established Member
Joined
Dec 1, 2015
Messages
2,297
It will still be O.K. to churn but probably not as much as previously.
 

andye

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Joined
Jan 14, 2013
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Not enough positive information being volunteered yet. Hopefully will kick in before 2019
Will be interesting to see if Amex chips in
I agree with Dr Ralph that income and assets will be more important than scores
 

yld200

Active Member
Joined
Feb 3, 2015
Messages
605
Just applied for a new NAB card in Feb and refinanced my mortgage with ANZ in December.
Credit Savvy went from 707 to 537 and my ANZ doesn't appear as an enquiry. There are 10 enquiries in total; 2x 2014, 2x 2015, 3x 2016, 2x2017 & 1x 2018.
1 credit and relationship showing which is closed and repayments are 100% on time.
Get credit score went from 706 in Jan to 702 in Feb, will see what it does in March.

The NAB cc application seems to have greatly affected my score on Credit Savvy
 

burmans

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Feb 21, 2006
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Not enough positive information being volunteered yet. Hopefully will kick in before 2019
Will be interesting to see if Amex chips in
I agree with Dr Ralph that income and assets will be more important than scores
Amex were contributing but it appears they stopped!
 

wohoo

Member
Joined
Dec 19, 2016
Messages
123
Mine went down to 462, and now up to 479 one week later with credit savvy.
Was rejected by Westpac for their card on 15/01/18 ish, but this rejection did not show up on credit savvy
whilst bankwest did 8 months ago.
 

amaroo

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Sep 22, 2011
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FWIW equifax has updated - my score has gone up by >100 and now has a comma.

It’s been stagnant for a long time .... the lack of CC applications is (I think) the only reason for the jump.
 

deebens

Member
Joined
Dec 7, 2015
Messages
219
Score just increased 16 points.

NAB added in current card and last month's repayment. HSBC added in closed card (as open) with previous repayments.

Still below average.
 

andye

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Jan 14, 2013
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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
 

benjy

AFF Supporter
Joined
Dec 18, 2013
Messages
720
HSBC added their information in via Experian today, increased score to 463, still below average, all positive repayment information etc though.
Interestingly though, they are missing a '0' off my credit limit.
 

deebens

Member
Joined
Dec 7, 2015
Messages
219
HSBC added their information in via Experian today, increased score to 463, still below average, all positive repayment information etc though.
Interestingly though, they are missing a '0' off my credit limit.
Yeah mine was the same.
 

mviy

Established Member
Joined
Dec 1, 2015
Messages
2,297
Interesting. I am hoping my score looks O.K. when Equifax provides a score update later this month. I'm thinking about churning cards so I'm hoping that my score is good.
 

rock86

Established Member
Joined
Jul 18, 2017
Messages
1,058
My equifax score is +800, whereas signed up to credit savvy and experian are providing a score of 560ish. Maybe my equifax score will catch up in the next update mid month.

All in all though, not worried one bit. When discussing this with a NAB consultant upon closing my CC yesterday, he confirmed (as friends who process personal/home loans) that checking your credit file is only one part of their process, and that they don't really take too much notice what 'score' you are given by a credit agency. They're more interested about what is actually on your file, that is the reason they check it & not for the score.
 

JohnK

AFF Supporter
Joined
Mar 22, 2005
Messages
41,090
Received email from HSBC that they have been part of the new credit reporting since 05 March.
 

mviy

Established Member
Joined
Dec 1, 2015
Messages
2,297
Will be interesting to see if any additional info is showing for my closed HSBC card when I next get a new report.
 

mviy

Established Member
Joined
Dec 1, 2015
Messages
2,297
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.
 

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