Business & Finance » Credit » Credit enquiries, help?

Credit enquiries, help?


before you call me stupid, I know. I was dumb and applied for a bunch of credit cards and loans all at once not thinking it would go on my credit report and affect my score. obviously, I was wrong.

My question is, how long will all of these enquiries affect my score for? I messed up bad, haven't had any defaults or anything like that, it's purely just the amount of credit enquiries I have on my report that has made my credit score bad or "below average"

P.S. Please base off Australian credit

A bunch of hard pulls will pretty much go away in say 6 months, I wouldn't worry too much about that.

Give it 6-12 mos to recover.

Maybe six months but it really depends on how many of those accounts were actually opened, the credit limit and how you paid them.
Now can I call you stupid ;)

the deed is done there is no changing it now
if you got approved for one card(maybe two) take them and use them wisely, making sure you pay timely and don't charge more than you can afford to pay

ask financial expert


Can a duck get credit?

These request are generally recorded by the acknowledge agency as a kind of land related request, so the FILO Score will treat them a similar way. You can abstain from bringing down your FILO Score by doing your condo chasing inside a brief period. Request could conceivably influence your FILO score.

6/12 months

Well before this happens, you should think and play your calculator first, work out how much it will gonna cost you in the end but maybe you are so naive and never thought about it. My advice is, talk to your bank if they can increase the limit of your credit card or consolidate your debt in one. Then closed your remaining credit card for God sake else it will be a temptation that you will spend the money that you don't have. Asked also any of the banks of your credit card, if they have a personal loan that you can put your debt because personal loan offers low-interest rate than a credit card. Then think which one is the best solution for your situation. The main thing is to get out from paying a higher interest rate that you don't have to pay. Think about this, if you can put that interest money in your principal amount, it will help you to bring down your debt. Next time do not rely on the credit card if you are planning to buy a car or something more than that. Don't even think about it else you will be in a big mess. As much s possible learn to save money then pay it in cash.