I applied for a NAB credit card back in February 2015 which has been cancelled sometime on November 2015, however when I checked my credit report card (from credit savvy) that inquiry is still appearing.
The date listed is 26/2/2015.
Is that normal?
How long usually it will take to get the credit card inquiry removed from the credit report card?
that's a very long time just for credit card inquiries.. :(
thanks for the reply though
i think it is VERY UNFAIR, when we apply or credit card an entry is recorded straight away (almost,some),
but when we cancel, or the application is rejected, this IMPORTANT FACT is not even recorded!
come on finance minister, do you think this is fair?
I agree that if a credit card has been cancelled, it should disappear from your credit reporting. However, if you were declined, then it should still stay as it will help other financial institutes to make an informed decision.
"other financial institutes to make an informed decision."
i think that called subjective assessments then? because each banks has different policy or maybe the situation has change dramatically but because bank A saw 2x rejections in the past from bank B C D so bank A might thinks oh this guy isnt good?
why the bank need to see the rejection from others, they have their own team.
Well unless the bank can read inside your mind they're going to be as objective and subjective as much as they want. Nothing personal but we're all just a number filed within a number and within another number and another and…you get what I mean
@eclaw: agree but i meant i will be much fair if each bank just do their own assessment from scratch, regardless what other banks done in the PAST. if the bank is good they will find the same result anyway.
remember past performance is not indicator of future performance
Its not about rejections, its more about undisclosed debts. Some people over commit themselves by not telling the banks that they already have cards elsewhere. That's why I say that if they applied for a card or personal loan, it should come on their credit report.
I believe credit enquiries stay on your report for Five years - there's a little more information here: https://www.veda.com.au/yourcreditandidentity/check/credit-f…