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Credit Enquiry

A Credit Enquiry is a record added to your credit file each time you apply for credit, such as Vehicle Finance, Equipment Finance, phone plans, utilities, or Business Loans. Lenders use enquiries to judge credit behaviour, application patterns, and risk.

Related glossary terms: Credit File, Credit Score, Defaults.

Relevant blogs: Bad Credit vs Low Doc, What Lenders Look For, Rebuilder Credit Roadmap 2025.

Why Credit Enquiries Matter

Lenders review how often you apply for credit and whether the timing suggests financial stress. Frequent enquiries reduce approval chances in Low Doc Loans, Tradie Finance, Truck Finance, and Café Business Loans.

What a Credit Enquiry Shows

  • The exact date you applied for credit.
  • The type of loan or service you applied for.
  • The lender or provider who accessed your file.
  • The number of recent enquiries (12–24 months).
  • Risk patterns that may affect approvals for Business Lines of Credit or Working Capital Loans.

Official info: asic.gov.au

Does a credit enquiry lower my score?
Yes — lender enquiries can lower your score temporarily, especially if many occur close together.
How long do enquiries stay on my credit file?
They usually remain for 5 years, though their impact reduces over time.
Are all enquiries treated the same?
No — some are “soft checks” (for example, self-checks) and do not affect your credit score.
Does shopping around hurt my chances?
Multiple applications in a short period can be seen as high risk and reduce approval odds.
Can I remove incorrect enquiries?
Yes — you can dispute and remove incorrect enquiries through credit reporting agencies.