Credit file & Credit card churning

[JohnM]

I'm finding the Credit Savvy website a useful tool for getting credit score.

It is very useful and easy to set up - thanks for the heads-up.

 

[andye]

I pay for Veda but creditsavvy worked well to check Mrs andye's score (better than mine....for now)

 

[burmans]

I pay for Veda but creditsavvy worked well to check Mrs andye's score (better than mine....for now)

The only problem I can see with this is that creditsavvy and Veda are not one and the same. Veda has a significant advantage at the moment that they have considerably more data than the other bureaus and hence much more likely to be the place credit providers go to for their credit checks.

This will change to some degree with CCR (one of the main reasons the majors are investors in Experian is to bring more competition to the market) but I know when I applied for my Experian file it didn't have that much of my credit history. Not to say that creditsavvy has no value, but don't think it necessarily tells everything if the credit provider is using a bureau other than Experian.

 

[quokka77]

I've stopped collecting QF points but wondered what Velocity would offer when compared with a QFF 280K J One World Explorer award. Serious question

I admire people who have the dedication to find all that longhaul J award availability on OW (and then go and book a QFF J OWE ticket), all with suitable dates that fit into the rest of their lives. The thread describing the process makes me want to throw my hands in the air, book a one-way award to Joburg, and buy a revenue ticket.

I'm a pretty simple person. I like transpac J availability to US west coast, from Australia's east coast for me and a friend (at 190K return per person). Can't remember how many points it cost me to bring a family member back from Europe on Etihad's new business class via VA redemption -- I think it was 125K?

And let's not get started on the fuel surcharges. Anyway, I think I am now pretty off topic.

Don't churn too many cards. Pay your bills on time. Don't redeem for toasters, luggage or gift cards.

 

[JohnK]

I've stopped collecting QF points but wondered what Velocity would offer when compared with a QFF 280K J One World Explorer award. Serious question

Doesn't exist.

If you were to try and construct a very simple SYD-LAX-LHR-SYD with Velocity and partners you'd be looking to use at least 280,000 Velocity points in business? Obviously the more sectors you add the more expensive it becomes.

From memory SQ has something similar to a QF Oneworld award.

 

[sumthinfornuthin]

I'm inclined to agree. If I were a bank and saw 40+ recent credit enquiries on a file I would think "credit card churner, denied" without even looking at the other stuff.

half the applications and include, wife,partner, dog, cat whatever

 

[coolkid101]

Doesn't exist.

If you were to try and construct a very simple SYD-LAX-LHR-SYD with Velocity and partners you'd be looking to use at least 280,000 Velocity points in business? Obviously the more sectors you add the more expensive it becomes.

From memory SQ has something similar to a QF Oneworld award.

are you referring to the "round the world fare" and "circle pacific fare"?

e.g. for the circle pacific - The Airfare is valid on Air Canada (AC), Air China (CA), Air India (AI), Ethiopian Airlines (ET), EVA AIR (BR), Turkish Airlines (TK), Lufthansa (LH), ANA (NH), Air New Zealand (NZ), Asiana Airlines (OZ), Singapore Airlines (SQ), Shenzhen Airlines (ZH), THAI (TG) and United (UA) flights serving the countries of Australia, Brunei, Canada, China, Cambodia, Cook Islands, Fiji, Hong Kong SAR, Indonesia, Japan, Republic of Korea, Laos, Malaysia, Myanmar, New Caledonia, New Zealand, Philippines, Western Samoa, Singapore, French Polynesia Tahiti, Taiwan, Thailand, Tonga, USA and Vietnam.

 

[JohnK]

are you referring to the "round the world fare" and "circle pacific fare"?

No.

An actual award with up to 7 stopovers. From memory 100,000 KrisFlyer miles in economy and 200,000 KrisFlyer miles in business. Or something similar. Doesn't appear to have been a popular product and I am not sure if it is still available.

 

[coolkid101]

No.

An actual award with up to 7 stopovers. From memory 100,000 KrisFlyer miles in economy and 200,000 KrisFlyer miles in business. Or something similar. Doesn't appear to have been a popular product and I am not sure if it is still available.

my bad.

Star Alliance Round the World Awards


With Round The World Awards, you can travel around the world with the flexibility of multiple stopovers. Circle the globe and visit up to seven cities of your choice for just 180,000 KrisFlyer miles in Economy Class, 240,000 KrisFlyer miles in Business Class and 360,000 KrisFlyer miles in First Class.

 

[JohnK]

my bad.

Star Alliance Round the World Awards


With Round The World Awards, you can travel around the world with the flexibility of multiple stopovers. Circle the globe and visit up to seven cities of your choice for just 180,000 KrisFlyer miles in Economy Class, 240,000 KrisFlyer miles in Business Class and 360,000 KrisFlyer miles in First Class.

That's the one. Mileage costs a little higher than I remember though and I am guessing taxes and surcharges as bad as Qantas.

 

[Beta4Me]

That's the one. Mileage costs a little higher than I remember though and I am guessing taxes and surcharges as bad as Qantas.

But you can fly SQ Suites (*A F) on that RTW Award though, no? Better than QF F (OW F) for 420K QF points?

 

[jamesD]

Thanks, but is there anything that i can do to increase the score again, or do i just have to wait a while till things cool off on my credit so to speak.

You could sift through the list of apps and make sure none are there that shouldn't be.

 

[lovetravellingoz]

Using Credit Savvy = 607 = ok Good is greater than 624

They do not have all of my CC applications interestingly enough.....

 

[exceladdict]

Using Credit Savvy = 607 = ok Good is greater than 624

They do not have all of my CC applications interestingly enough.....

My Anz ones were missing.

Perhaps as they're part owned by CBA?

 

[lovetravellingoz]

My Anz ones were missing.

Perhaps as they're part owned by CBA?

Not so sure about that..

http://blog.creditcardcompare.com.au/big-four-ownership.php


But yes the ANZ were missing from mine too. As were others. So maybe this particular tool is just not that accurate?

 

[exceladdict]

Not so sure about that..

http://blog.creditcardcompare.com.au/big-four-ownership.php

That was a very interesting read, but... (EDIT: no sarcasm intended, I actually enjoyed the article).



Earlier posts and other threads suggest that Experian, the service Creditsavvy uses, are newer / less comprehensive than D&B and Veda. But as it's free, i'm just going to keep an eye on it.

They also have a good article here about how credit scores are calculated.

 

[burmans]

Not so sure about that..

http://blog.creditcardcompare.com.au/big-four-ownership.php


But yes the ANZ were missing from mine too. As were others. So maybe this particular tool is just not that accurate?

Ok, here goes, Credit Reporting 101. Credit Providers do not have to go to any credit bureau, let alone all. Some think their own info is better than the bureau have. Some go to 1 bureau, some go to multiples. However if they want a credit report they have to have a reason for asking for one, in most case this is as part of assessing credit (though it can also be managing credit, eg. If a customer is in arrears and hence a possibility to default,or they have asked for more credit). Credit Reports cost money hence the reason there are varying views as to whether they go to 0, 1, 2, 3 bureaus.

A consequence is that the information each bureau holds will be different. It's not really a question of accuracy, more that any bureau can only report what they have been told. Accuracy/quality is a different question, I.e. Is This really the same person, is data up to date, etc.

 

[get me outta here]

I bought a 1 year access to Veda and found that unfortunately all my recent applications are there, although it's still a 'good' score.

 

[coles525]

I bought a 1 year access to Veda and found that unfortunately all my recent applications are there, although it's still a 'good' score.

Correct, all current credit/loan applications are still there (for upto 5 to 7 years), but it currently doesn't tell anyone how many of then have actually been approved.

On my file, I have either 1 or 2 current active cards showing.

ie: this user has an active credit card on file with bank 2624.

 

[get me outta here]

Interestingly, some of mine went back to the 90s.

Correct, all current credit/loan applications are still there (for upto 5 to 7 years), but it currently doesn't tell anyone how many of then have actually been approved.

On my file, I have either 1 or 2 current active cards showing.

ie: this user has an active credit card on file with bank 2624.