My credit rating went up

Discussion in 'Loans & Mortgage Brokers' started by Darlinghurst Boy, 24th Mar, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
Page 1 of 4
  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    858
    Location:
    Darlinghurst Sydney
    Every few months Veda send me my credit file and rating because i subscribe to it

    My credit rating went up which us not good .
    From 461 to 547

    No i didnt forget to pay bills.
    Just because i rang the Commbank to enquire about loans ... So be careful everytime yiu enquire about loans and dont go through with it you can hurt your credit rating.
     
    Darlinghurst Boy, 24th Mar, 2016
    #1
  2. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,626
    Location:
    At work
    Bran, 24th Mar, 2016
    #2
    drg86, joel, lowIQ and 4 others like this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,005
    Location:
    Australia wide
    why isn't it good?

    Higher score is better than a lower score.
     
    Terry_w, 24th Mar, 2016
    #3
    Observer likes this.
  4. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    858
    Location:
    Darlinghurst Sydney
    No i think 461 was better ...
     
    Darlinghurst Boy, 24th Mar, 2016
    #4
  5. Kesse

    Kesse Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    891
    Location:
    Cairns
    Definitely the higher the better. Anything above 600 is ideal then the higher than that the better.

    A simply enquiry to the bank doesn't impact your score. You need to consent for a credit check to be done. Whether it be by signing a privacy/credit document or the banker playing or reading some scripting over the phone and getting your consent to do a credit check at the end.
     
    Kesse, 24th Mar, 2016
    #5
  6. jins13

    jins13 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,358
    Location:
    Sydney
    jins13, 24th Mar, 2016
    #6
  7. Sonamic

    Sonamic Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,340
    Location:
    Sunny QLD
    Oh Jeeez. Mine is 780. I must be screwed. :p
     
    Sonamic, 24th Mar, 2016
    #7
  8. JameZ

    JameZ Active Member

    Joined:
    18th Jun, 2015
    Posts:
    29
    Location:
    Sydney
    upload_2016-3-24_19-36-30.png
     
    JameZ, 24th Mar, 2016
    #8
    Skilled_Migrant likes this.
  9. Fungus

    Fungus Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    120
    Location:
    Sydney
    Damn, I must be the worst - mine's 811!

    Darlinghurst Boy - you're funny mate.
     
    Fungus, 24th Mar, 2016
    #9
    Observer and Terry_w like this.
  10. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    image.jpeg

    That's the end of my borrowing :p
     
    Tyler Durden, 24th Mar, 2016
    #10
    Kate Moloney likes this.
  11. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,255
    Location:
    Sydney or NSW or Australia
    Methinks mine is around 666 :devil:
     
    Scott No Mates, 24th Mar, 2016
    #11
  12. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    If I could get mine down by one, I could sell it to the Chinese. :p
     
    Tyler Durden, 24th Mar, 2016
    #12
    Observer, Erida and DaveM like this.
  13. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,255
    Location:
    Sydney or NSW or Australia
    Scott No Mates, 24th Mar, 2016
    #13
  14. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    Fully lucky ;)
     
    Tyler Durden, 24th Mar, 2016
    #14
    Observer, DaveM, dabbler and 2 others like this.
  15. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    You always surprise me:)
     
    MTR, 24th Mar, 2016
    #15
  16. ellejay

    ellejay Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,192
    Location:
    Kimberley and NZ
    I wouldn't even log into that site, thinking it would impact my credit score :)
     
    ellejay, 24th Mar, 2016
    #16
    cheekykoon likes this.
  17. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    VEDA accessing your credit file at your own request shouldn't have any negative effects. In the old days I would request a free postal version once a year.

    Check Your Credit Report & History | My Credit File AU

    There should be more encouragement for people (especially youngsters with phone plans etc) to keep an eye on their credit files. How anyone can end up with sub 500 and not be aware of it is beyond me.
     
    Last edited: 24th Mar, 2016
    Tyler Durden, 24th Mar, 2016
    #17
  18. JohnPropChat

    JohnPropChat Well-Known Member

    Joined:
    10th Sep, 2015
    Posts:
    2,293
    Location:
    Middle Earth
    Vedascore Range:
    833-1200 Excellent
    726-832 Very Good
    622-725 Good
    510-621 Average
    0-509 Below Average

    Most banks need at least a 'GOOD' rating for most things but most banks also have their own internal credit scoring policies and a broker is the best person to help you navigate those.

    PS: If you want to know your credit score(not credit report) for free check this website: Get Your Credit Score Australia - Absolutely Free! - SocietyOne runs it.
     
    JohnPropChat, 24th Mar, 2016
    #18
    Kate Moloney likes this.
  19. JohnPropChat

    JohnPropChat Well-Known Member

    Joined:
    10th Sep, 2015
    Posts:
    2,293
    Location:
    Middle Earth
    You went from below average to average. Where you fishing for credit? Careful with credit limit increases - some banks do a credit check and some do a soft check and some do none.
     
    JohnPropChat, 24th Mar, 2016
    #19
  20. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    858
    Location:
    Darlinghurst Sydney
    Yes i was asking commbank for home loans that i decided not to take...
     
    Darlinghurst Boy, 24th Mar, 2016
    #20
Page 1 of 4