Sudden Death on Credit Savvy | Australian Frequent Flyer
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Sudden Death on Credit Savvy

Gold60

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Got an email from Credit Savvy today about the new credit card reporting system. It said there had been a few changes.

They weren't wrong there. In the space of 18 days i went from 777 to 603. That's as in VERY GOOD to the middle to slightly upper middle part of the OK band.

From my POV, NOTHING had changed in that period. So from their end there must have been some BIG changes somewhere. Have always paid all my bills on time, etc, etc. .......

Needles to say i have asked what went wrong. Should be an interesting answer.

Anyone had a similar experience recently ?
 

I love to travel

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Yes but the results seem to be leaning towards how many applications rather than repaying on time
 

Gold60

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i feel your pain. mind you, i just had a look back in July at the Veda one, and it did drop too, but nowhere near as much, and Veda has recovered most of those losses. it's a bit like the stock market................

Mine went from 774 to 522, what a joke! Either they are stupid or I am stupid.
 

Denali

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Sep 17, 2012
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810.

Change due to card applications?
How to improve your credit score
Limit the number of credit enquiries/applications you make.....
Multiple credit enquiries in a short time frame can lower your score.
 
Last edited:

Craig O'Brien

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That is the same with me...it went from 813 a couple of months ago, to 776 in jan, to now 491 now ( in feb)
I haven't applied for a cc since December... really weird
The funny think is i had a low score back in july and applied for 2 cc in quick succession and my score went up..

This system is bonkers
 

burmans

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It's all related to Comprehensive Credit Reporting, I think Experian jumped the gun here. They have adjusted their score to rate credit history highly but for me I only have one card loaded in their system and one month of data.

From memory (I managed a few programs in this area a few years ago - just shows how long this change has been coming) you need the last 3 months of positive data for your repayment history to be regarded as positive. They should not have released this score change until they had enough data loaded to support it.
 

mviy

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Dec 1, 2015
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The funny think is i had a low score back in july and applied for 2 cc in quick succession and my score went up..
You may have got your new score before they factored in the new applications or old applications could have stopped being a negative on your score.
 

Mr_Orange

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Glad to hear it is not just me. I couldn't understand it either but also explains why the low score seems to be having no effect on my ability to obtain credit cards.
 
Last edited:

deebens

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Dec 7, 2015
Messages
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Just got rejected for a Westpac Platinum :confused:

No debt apart from another open card with 700 bucks on it. Assets in the 6 figure range. Recommended income to apply: $30,000 and I cover that no worries.

Only change, it's the first card I've applied for since they trashed my score.

Great.
 

EestiTiger

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Just got rejected for a Westpac Platinum :confused:

No debt apart from another open card with 700 bucks on it. Assets in the 6 figure range. Recommended income to apply: $30,000 and I cover that no worries.

Only change, it's the first card I've applied for since they trashed my score.

Great.
I'd push back and see if you can get an actual credit assessor to take a look.
 

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