Credit rating question

Hi all,

Not sure if the title accurately states what I'm tying to find out, so hopefully this makes sense..

Does it make any difference who's name (mine or my wife's) I put non-property related items in?

Eg. New phone plan.

We tend to just put everything into my name, as my wife just prefers that I deal with 'that stuff'.

Will something as simple as ending a phone contract in my wife's name, and opening a new one for her in my name, make any difference when it comes to lending or credit issues?

We also want to transition our everyday accounts / credit cards from WBC to CBA so that we can sit the funds in an offset - will items like this make it harder to apply for a new credit card with CBA?

FYI - our bank accounts are joint, so the bills come out of a joint account to pay for these.

Thanks

 

It doesn't make a difference. Unless you don't pay the phone bill. Then it's a big issue. Having multiple credit enquiries can be an issue for some first home buyers, but only for some lenders and usually only when combined with other issues like a small deposit, short term employment etc.

 

Doesn't matter too much - i've never seen a standard phone plan on its own shift whether a loan application gets a yes or no. Missing repayments and having defaults listed on the plan will be the major roadblock.

It may have a marginal impact on your veda credit score, but nothing to cause alarm. Don't think it will impact a CC application easier (usually easier to get these than home loans).