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Too Many Enquiries Can Impact Your Credit Score

Why your credit score matters, and how to protect it

Too many enquiries on your credit score can have a significant impact on your ability to get a loan and secure competitive pricing. When customers are shopping around for loans, they may not realise that applying for multiple loans can have a negative impact on their credit score. Each time you apply for a loan, credit card, personal loan, car loan or Buy Now Pay Later this is considered an “enquiry”.  Even if you don’t proceed with the loan. Often we see applicants who have shopped around for the best car loan or frequently changed credit card to chase reward points, with heavily impacted credit scores as a result.  It’s important to make sure when shopping around that no formal application is submitted with your lender until you decide.  That only a “soft touch” on your credit file occurs - which means they can look at your credit score without doing a “hit”. While collecting bank promotions for reward points sounds good in theory you need to consider the impact this is having on your credit score.  This can restrict the number of lenders who may lend to you and can increase the interest rate on lending, especially in the car and personal loan space.


Banks rely heavily on your credit score when assessing finance. They look at the number of enquiries in a five year period, repayment history over a 2 year period and overall score. Each and every time you do a loan application and make a repayment on an existing facility, it impacts your credit score either positively or negatively.

good credit score medical doctor

We Can Assist You Keep Your Credit Score Intact

How Medimortgage Can Help

At Medimortgage, we understand the importance of keeping your credit score intact. Our Medical Mortgage Brokers are dedicated to helping medical professionals like you secure the best loan deals without sacrificing your credit score. We also do a comprehensive overview of your credit file before you consider further lender and highlight any issues upfront.

We have extensive knowledge and experience in the medical industry, and we specialise in working with doctors and medical professionals to navigate the complex mortgage landscape. Whether you're looking to purchase your first home, invest in property, or refinance an existing loan, our expert brokers are here to guide you every step of the way.

Our Commitment to You

When you choose Medimortgage as your trusted medical mortgage broker, you can expect:
- Personalised service tailored to your unique needs and financial goals
- Access to a wide network of lenders and loan products
- Expert advice and assistance throughout the loan application process
- Negotiation of competitive interest rates and loan terms on your behalf
- Efficient and streamlined loan processing to save you time and hassle
- Protection of your credit score by minimising the number of loan enquiries


Don't let multiple loan enquiries hinder your chances of obtaining the loan you need. Contact Medimortgage today and let our Medical Mortgage Brokers help you find the best loan options while safeguarding your credit score.

Call us on 0477 618 486 to find out more.

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