CC churning - equifax scores

Discussion in 'General Credit Card Discussion' started by rock86, Oct 19, 2017.

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  1. jkbaus

    jkbaus Member

    Nov 4, 2015
    109
    29
    Mine went further down with ANZ application made last Thursday.
     

  2. I love to travel

    I love to travel Active Member

    Jun 4, 2016
    604
    132
    Brisbane
    These applications are now going to kill our scores. The good ol churning days appear over.
     
  3. mviy

    mviy Established Member

    Dec 1, 2015
    2,250
    542
    It will still be O.K. to churn but probably not as much as previously.
     
  4. Dr Ralph

    Dr Ralph Senior Member

    Jan 21, 2014
    8,492
    3,162
    Wollongong
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    #104 Dr Ralph, Feb 25, 2018
    Last edited: Feb 26, 2018
    Highly unlikely. But stop applying for new cards if you want.
     
    • Agree Agree x 1
  5. andye

    andye Established Member

    Jan 14, 2013
    3,480
    991
    Manly
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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
     
  6. yld200

    yld200 Active Member

    Feb 3, 2015
    605
    444
    Melbourne
    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
     
  7. burmans

    burmans Senior Member

    Feb 21, 2006
    6,321
    1,777
    Sydney
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    Amex were contributing but it appears they stopped!
     
  8. wohoo

    wohoo Member

    Dec 19, 2016
    123
    13
    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.
     
  9. amaroo

    amaroo Enthusiast

    Sep 22, 2011
    10,391
    10,636
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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.
     
    • Like Like x 1
  10. mviy

    mviy Established Member

    Dec 1, 2015
    2,250
    542
    Time for you to get churning again...
     
  11. deebens

    deebens Member

    Dec 7, 2015
    215
    15
    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.
     
  12. andye

    andye Established Member

    Jan 14, 2013
    3,480
    991
    Manly
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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
     
  13. benjy

    benjy Active Member

    Dec 18, 2013
    713
    232
    Melbourne
    Twitter:
    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.
     
  14. deebens

    deebens Member

    Dec 7, 2015
    215
    15
    Yeah mine was the same.
     
  15. I love to travel

    I love to travel Active Member

    Jun 4, 2016
    604
    132
    Brisbane
    More positive repayment info and a further decrease in score
     
  16. mviy

    mviy Established Member

    Dec 1, 2015
    2,250
    542
    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.
     
  17. rock86

    rock86 Established Member

    Jul 18, 2017
    1,026
    236
    Toowoomba
    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.
     
  18. JohnK

    JohnK Veteran Member

    Mar 22, 2005
    40,890
    8,940
    BNE, SYD and CNX
    Received email from HSBC that they have been part of the new credit reporting since 05 March.
     
  19. mviy

    mviy Established Member

    Dec 1, 2015
    2,250
    542
    Will be interesting to see if any additional info is showing for my closed HSBC card when I next get a new report.
     
  20. mviy

    mviy Established Member

    Dec 1, 2015
    2,250
    542
    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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