If you have made a lot of enquiries (e.g. more than one every six months) your application for credit will generally be turned down. Since there is no way of actually identifying which of the these applications for credit were approved, it is impossible for a creditor to accurately assess your financial position. You potentially could have many debts you are hiding. It can also make it look like you are desperate for money.
It is important that you understand that creditors don’t have an endless supply of money to lend. They stay in business through people repaying them. Creditors need to be certain that you are low risk to lend to you. If you have any negative reporting information on your credit history(bankruptcy act; judgements; writs; defaults; or frequent enquiries), you are automatically a higher risk and most likely will be turned down for finance.