- Apr 3, 2014
Thanks pauly7, burmans & beta4me
Appreciate your help
Appreciate your help
Not sure I agree with this. The main reason to get the report is to check the information is correct (or not). While you cant see the score itself the score is directly related to the information that is shown on the report.I did not actually get a score on the free Veda response. Did anyone else get their score as basically the info was not much use that I could make out?
Not sure I agree with this. The main reason to get the report is to check the information is correct (or not). While you cant see the score itself the score is directly related to the information that is shown on the report.
If there is incorrect (and in particular adverse) information on your report then correcting/removing the info will directly lead to an improvement in your score. If not then not sure knowing your score will help much, though applying for a Citibank card can be used to find out your score (only recommended if you actually want a Citibank card).
At this stage. all they know about you is what is on your credit report, repayment history will be reported in next year or so (banks are somewhat slow at doing this) but not at the moment. Because Veda does not know of your good (presumably) payment history its not currently included in your score. But they can see your multiple credit applications.Well, I thought therefore the converse might be true, that a really good score may indicate that, at that point in time that I'm a goody two shoes. That's what I expected as although I have a 'few' credit cards now, otherwise my history is exemplary.
Not sure what you mean about getting the score via a Citibank application?
Unsure if my reply is showing, so sorry if repeated.
Doeas anyone know the minimum income needed to get a card throught the link above?
Fee free for life (ends end of feb).
My credit rating has just jumped from good to very good in the last few days .
I have a question about the Comprehensive Credit Reporting. Wasn't it 'suppose' to start last year? If so, are the banks just slow in giving these reports/info to the credit angencies?
Ahh makes much more senseComprehensive Credit Reporting was "allowed" by the legislation last year but it is not "required". And this is a problem, banks don't want to share their own info (of value to other credit providers) if they aren't getting info back. So post the legislation they had to agree a protocol for reciprocity which essentially means you only get comprehensive data if you yourself contribute.
Like anything needing to be signed by a large number of both large and small credit providers with different interests this takes some time. Some of the larger credit providers already have a significant portion of Australians on their books so perhaps are not quite as motivated to get this done but it will happen, hopefully later this year.
I was debating this with my best mate over lunch. He said if you receive your credit score/report monthly (ie a paid subscription service) every month that access is a mark against your score, and the agencies like Veda tell you not to actually check your score too often as it affects the actual score.
Is this correct? I thought accessing your own report/file/score wouldnt affect it at all?