If you are seeking credit via online applications or direct contact with a bank, a credit check is conducted. Even your enquiry is recorded.

The more “hits” or credit enquiries are recorded on your Credit file, the higher the possibility of your score being reduced. Most lenders scrutinise an applicant’s credit file and if an applicant has been seeking finance regularly, this might raise “alarm bells”. A professional finance broker should conduct a credit check prior to any finance submissions to address any issues . From July 2017, the ATO may record any tax liabilities in excess of $10,000 on the applicant’s credit file.