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How long before cancelled Card Gets Removed from Credit history

ozflier

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Jan 6, 2009
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Hi,
I have cancelled my Qantas Woolworths CC Visa ( part of Macquarie group) - only 50% QFF points and annual fee too much.
I am looking for a replacement and prefer one with a big signup bonus.
I assume that any new card provider may be on the lookout for someone who is just swapping cards for the signup bonuses .
One sign of this may be that I have recently cancelled one CC and am now applying for another.
Does my cancelled cc have a "presence" in the records somewhere or after a period of time - it is "gone" in my history.
I'm guessing that if i apply for a Macquarie group card , they may have better access to this info than say Citicorp.
 

RooFlyer

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I assume that any new card provider may be on the lookout for someone who is just swapping cards for the signup bonuses .
One sign of this may be that I have recently cancelled one CC and am now applying for another.
Does my cancelled cc have a "presence" in the records somewhere or after a period of time - it is "gone" in my history.
Credit card 'churning' between different card issuers to get sign-on bonuses is pretty widespread - not just cancel A for B, but then B for C and C for D within, say, a year. The only thing you did with the first bank that may influence the second bank's decision would be your credit score or rating ; I don't know how churning affects the credit score, but I doubt its a killer, if it impacts at all. 'Strictly', and hopefully actually, the new bank shouldn't know anything about the old bank's relationship with you.

@Dr Ralph may know more about if churning has an input into credit scores.

ps your credit card history will be retained by the bank for at least 7 years after you cancelled. If you later go back to them, you'll probably still see all the history if you look up 'closed accounts' !
 

EestiTiger

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Bit of a non event in my experience. It isn't long (same month) after I close a card that I apply for the next one and apart from Macquarie, I have never had an issue with approvals. Not as hardcore as some on here but I get a new card each quarter.
 

andye

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Your cancelled card does stay on the credit file for a period of time.
I don't think banks actively try to avoid churners. However, applying for multiple cards in short succession can trigger worries that the applicant is having debt trouble.
The biggest things detemining acceptance in my experience are a regular income and assets (and obviously no defaults) . Combined limits with all cards is a secondary factor but is often an influence in setting an initial limit. I think crude credit scores are overrated as a predictor
 

RooFlyer

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Just be aware that a knock-back WILL have an effect on your credit score. Just be sure of the income & expenditure hurdles and make sure you can clear them if checked. May not be fatal, just something to bear in mind.
 

andye

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Just be aware that a knock-back WILL have an effect on your credit score. Just be sure of the income & expenditure hurdles and make sure you can clear them if checked. May not be fatal, just something to bear in mind.
I didnt think a knock-back did affect the score any more than a successful application. Its just that you have 'wasted' an enquiry with no card to show for it.
I don't think the agencies link enquiries with cards held which is the only way they could tell you have been knocked back

(Apols if this sounds pedantic)
 

RooFlyer

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I didnt think a knock-back did affect the score any more than a successful application. Its just that you have 'wasted' an enquiry with no card to show for it.
I don't think the agencies link enquiries with cards held which is the only way they could tell you have been knocked back

(Apols if this sounds pedantic)
No, thanks. I was probably conflating it with a typical cc application question which asks 'Have you ever been refused credit ...' etc. :oops:
 

sudoer

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We obviously haven't applied for the same type of cards! 🙂
You've got me curious - what sort of cards are you applying for? Business? Invite only e.g. Centurion?

I've applied for 6-7 black/plat cards in the last two years and am fairly sure this hasn't existed on those applications. The banks have no way to verify it anyway.
 

hossein_au

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Not directly related to this, but relevant: I have had many AmEx cards over the years. I closed the last lot in August last year. I recently applied for a loan and I was told I still have three OPEN AmEx cards in my credit history. I have contacted Equifax to fix this, but does anyone know how I can expedite this?
 

Dr Ralph

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I've seen cancelled cards listed on my credit report years later. Not sure why you would be concerned about this though.
 

MattA

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Does my cancelled cc have a "presence" in the records somewhere or after a period of time - it is "gone" in my history.
Yes. The original credit enquiry stays on there for 5 years from the date you applied for the card. The account record stays on there for 2 years after the closure is recorded.

 

ramboflyer

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This is part of a reply I got from Qantas Premier CC after refusing to increase my credit limit. I checked all 3 reports and the only information on all of them was for current and cancelled credit cards. The reports also show that I paid every card in full and on time. My score was rated as very good so the number of credit cards does have an effect otherwise it would be rated higher.

I am a churner but usually only about 2 cards a year. I applied for the Qantas card shortly after the 12 months had elapsed for the cancellation of the same card for which I had a much higher limit.

I still shake my head as to why they wouldn't approve a modest increase in my credit limit and can only think it is because they didn't like me applying for their card so soon after the 12 months had elapsed.

BTW there was a card on 1 of the reports that had been cancelled months before that still showed as active. It depends on the bank telling the credit reporting agency.


How to access your credit report
Your credit reporting information may not have been used to decision your application. However, if we did source your credit reporting information it may have been indirectly used to derive a decision on your application.
We advise you to be proactive in reviewing the accuracy of your credit reporting information held by credit reporting bodies. You are entitled under the Privacy Act to access your credit reporting information without charge within 90 days of the date of this letter by contacting the credit reporting body:
Equifax
Mailing Address:
PO Box 964
North Sydney NSW 2059
Telephone: 1300 762 207
www.equifax.com.au
Experian
Mailing Address:
PO Box 1969
North Sydney NSW 2059
Telephone: 1300 783 684
www.experian.com.au
illion
Mailing address:
PO Box 7405
St Kilda Rd Melbourne VIC 3004
Telephone:1300 734 806
www.illion.com.au
 

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