If you find incorrect details on your credit report, such as unfamiliar credit enquiries, you can ask for them to be removed. Doing so will make your credit report more accurate and can help improve your credit score.
However, it's not possible to remove correct enquiries and listings from your credit report and the details on your credit report will typically be listed for between 1 and 7 years in Australia.
For example, normal credit enquiries (like applying for a credit card) will remain on your report for 5 years, while serious infringements can stay there for 7 years.
| Type of enquiry | How long it stays on your credit report |
|---|---|
| Serious credit infringement | 7 years |
| Bankruptcy | 5 years* |
| Court judgement | 5 years |
| Credit enquiry | 5 years |
| Debt agreement | 5 years** |
| Default | 5 years |
| Current credit obligation | 2 years |
| Repayment history | 2 years |
| Financial hardship information | 1 year |
*Bankruptcies will remain on your credit report for 5 years, but will disappear after 2 years from the point you are no longer bankrupt.
**Debt agreements will be removed from your credit report 2 years after they have been terminated, declared void or ended.
See what's on your credit file by checking your free detailed credit report with Finder. You can confirm what enquiries are still on your report and the date they were added.
You can't remove a legitimate enquiry from your credit report. In most cases, credit enquiries will be listed for 5 years before they are automatically removed from your report.
You can only get incorrect or inaccurate details removed from your credit report at a different time. Some examples of when you could request a correction include:
"While you can't get genuine inquiries removed from your credit report, chances are there's an error on your credit file that could improve your credit score if you get it removed. According to Credit Repair Australia, 70% of Australian credit reports have an error. Even a simple error like an incorrect address could be stopping you from getting approved for credit."
You can get a free copy of your credit report and score through Finder every month. You can also request a copy of your credit report directly with each of the credit reporting bodies in Australia (Finder gets its details from Experian).
Go through the details on your report and note down any that are incorrect or unfamiliar. This includes soft and hard credit enquiries for loans, credit card applications and utilities that you're not aware of or haven't approved.
Contact the lender listed for an unfamiliar credit inquiry and ask it for details of the enquiry. This will help you determine if you authorised it or not.
If the lender agrees it has made a mistake, it should correct the error on your credit report.
You need to do this directly through the credit reporting body that issued your credit report. For example, if you checked your report through Finder, you'd contact Experian. Or, if you requested a copy from Equifax, you'd contact it.
The credit reporting body will review your request for a correction and contact you with an outcome.
If you are successful, the details will be removed from your credit report.
If you are unsuccessful, the listing will remain on your credit report for the required time (e.g. 5 years from when a credit enquiry was made).
A credit enquiry is a record that shows when your credit report has been accessed by you or a third party. There are 2 main types of credit enquiries:
"Soft" enquiries are recorded any time you request a copy of your credit file. This includes when your file is accessed through a separate platform, like the Finder app, and doesn't really have an impact on your credit score.
A "hard" enquiry refers to any request for your credit file that's made by a third party, such as a lender. For instance, every time you apply for a line of credit, such as a card or personal loan, the lender you've applied with will submit a request for your credit file.
This request is recorded on your credit history as a "hard credit enquiry". Too many hard enquiries can lower your credit score and your chance of approval.
Both soft and hard enquiries stay on your credit report for 5 years.
Lenders use information from your credit history to help them determine your eligibility for loan products like credit cards and personal loans.
This includes the number of credit enquiries you've made. These enquiries stay on your credit report for 5 years and are then removed automatically.
If you have too many credit enquiries on your file in a short amount of time, it can negatively impact your credit score and your ability to get a credit card or loan.
| Response | Male | Female |
|---|---|---|
| None of the above | 84.55% | 82.79% |
| Loan | 6.71% | 11.28% |
| Credit card | 10.77% | 9.18% |
| Phone plan | 2.03% | 2.29% |
| Other | 1.02% | 0.76% |
Once you've got your credit report, here's a list of the details you should double check:
The simplest way to keep your credit file error-free is to check it regularly. If you request your credit report through finder you can access it again at any time in your finder account. We will also notify you whenever something on your report changes so you can keep an eye out for inaccuracies.
You also need to make sure that all payments and debits actually go through, don't just rely on someone else or automatic transfers to pay your bills. Physically check to see if the money has left your account.
Your credit report is important and it should be checked regularly for accuracy. If you find a genuine mistake it is relatively simple to have it rectified by any of the credit reporting bodies. Doing so will help ensure that you're treated fairly by lenders.
Millions of Aussies are clueless about one of the more important numbers in their financial lives, according to new research by Finder.
Read more…
Find out what a credit score is and what it can do for you.
Read more…
The average Australian has a "very good" credit score according to Finder analysis. Here's how credit scores are categorised in Australia, and how to check yours.
Read more…
Missing a phone bill can end up hurting your credit score, but simply having a mobile plan won't impact your credit report.
The average Australian has a "very good" credit score according to Finder analysis. Here's how credit scores are categorised in Australia, and how to check yours.
Credit reporting bureaus issue credit reports and scores to consumers and lenders. Discover how they work in this guide.
Placing a ban on your credit report can help to protect you from fraud. Here's how to request and extend bans with Experian, Equifax and ilion in Australia.
If you're planning to cancel a credit card, here's what you need to know about the impact it could have on your credit score.
Find out about different credit monitoring services that can keep you informed about changes on your credit report.
9 things you can do today to start improving your credit score.
How to remove incorrect negative listings from your report and adopt positive money habits to get your credit history back on track.
Discover how you can use a credit card to build or repair your credit history.
Hi there, i recently applied for credit for a purchase of a car which was subject to an inspection and road worthy. This was through a dealer and it turned out the car was unable to be sold. Is this a hard enquiry and can it be removed due to the car not be able to be sold?
Hi Marti,
Thanks for your question.
Lenders usually perform a “hard” enquiry whenever you apply for a credit or loan. Unfortunately, you can’t remove a legitimate enquiry from your credit file. In most cases, you will simply have to wait until five years has passed and they are taken off your history.
If you are interested to know for sure, you may request a free credit report through our website.
I hope this helps.
Cheers,
Anndy
Hello finder.com.au
I just spoke to my lender, with who I am paying off a loan. A balance of nearly 5K is remaining.
There is an entry in my credit card file for this lender when the loan was processed. The lender says if I pay this remaining 5K and close the loan account, he still can’t remove the credit entry that is in my credit file.
I know the entry will automatically drop off after a 5 year period. But wondering if the account is paid off, why does an entry by lender still need to remain in my credit file!
Why is this so?
Hi Harry,
Thank you for your inquiry.
If you have bad credit it’s important to continue to manage and improve your finances to give yourself the best chance of being approved for a loan. If you’re considering enlisting the services of a credit repair agency, the guide below will take you through everything you need to know. You may want to consider reading our guide about how to fix your credit history.
I hope this information has helped.
Cheers,
Harold
Sallie Mae has ran my credit multiple times when they have made me reapply for loans instead of reinstating an already approved loan. Now they have cancelled my loan stating it expired, after I had already accepted the terms , started school and was awaiting for them to disperse the money. They have made me once again reapply to which I told them that it would cause me to need a co-signer due to their repulling my credit multiple times in the year. That is what happened. My current credit score is 793. I do not have any debt. Can someone tell me if there are any steps that I can take against them for denial?
Hi Jennifer,
Thanks for reaching out.
Basically, each lender has their own set of criteria and rules/terms and conditions when it comes to approving their applicants. So the possible reasons for your declined application could be around not meeting their requirements or as you mentioned, there was an expiration for the application. It may not be possible to go against the lender especially if their actions were based on their T&Cs and you have accepted it. It’s best that you contact again your lender and resolve this issue with them.
Furthermore, about credit enquiries, it may not be possible to remove any legitimate credit file enquiry (with proper authorisation from you) and the only way you can remove incorrect or erroneous enquiries is through credit repair and you need to contact the lender so they can remove that enquiry.
Cheers,
May
HI,
Can I have enquiries’ removed if we did not proceed with a application
Hi Tracey,
Thanks for your question.
When you apply for a particular credit product, an enquiry is recorded on your credit file. The enquiry is recorded on your file regardless of whether your application was approved or rejected. Unfortunately, you can’t remove a legitimate enquiry from your credit file. In most cases, you will simply have to wait until five years has passed and they are taken off from your history.
Generally, you can only remove incorrect or erroneous details from your credit file.
Cheers,
Anndy
Is an enquiry on a credit report a bad thing?
Hi Nic,
Thank you for your question.
If you will have too many enquiries on your file, that would negatively affect your chances of approval for credit.
An enquiry will appear on your credit file every time you submit an application for any form of credit such as credit card, home loan, personal loan, car loan, etc. These will all be mentioned in your file. So as soon as the creditor reviews your file, that will be recorded.
Cheers,
May