Interesting article in the SMH this morning for those with home loans wanting to take advantage of sign up bonuses on multiple cards. Wonder if anyone has applied for cards in the new year and is noticing a difference in how the application was handled.
It could also effect people cycling through cards on an annual basis, waiting for the exclusion period to end and reapplying for another bonus:
"And if you cancel a card for some reason, you may well find yourself immediately rejected for a new one."
I've got one application in progress with ANZ with my current credit limits representing around a quarter of my gross annual salary, should know the outcome next week.
what impacted one person wont be the same for another person. If you are a points chacer Just keep applying for new cards, you will find out when you have hit the wall, when you hit the wall.
Then you back up carefully, adjust your strategy, take some time, and drive off blindly into the darkness again.
I applied for a NAB Rewards card late last year after the start of the Royal Commission.
They requested 3 months of bank statements for the account my salary goes into, then called me a few days later questioning several transactions. It was clear they’d gone through it with a fine tooth comb.
Just did an ANZ application last week, 2 payslips & approved!
Lol they should only be looking at those statements to confirm your salary amount went into that account, not how much you spent on dinner Saturday night!
Lol they should only be looking at those statements to confirm your salary amount went into that account, not how much you spent on dinner Saturday night!
They dont question how much you spent on dinner on Saturday night. Debit transactions that would attract extra questions are those that might be repayments on a loan that the applicant didnt declare.
Just got approved for an ANZ card, doesn't seem to be that much different. Hopefully Westpac points come through before it's time to apply for St George!
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Credit card applications from 1 Jan
jch
jch
Virgin Australia - Velocity Rewards
Member since 15 Nov 2017
Total posts 143
Interesting article in the SMH this morning for those with home loans wanting to take advantage of sign up bonuses on multiple cards. Wonder if anyone has applied for cards in the new year and is noticing a difference in how the application was handled.
ratrace
ratrace
Qantas - Qantas Frequent Flyer
Member since 01 Apr 2018
Total posts 50
I just got conditional approval with NAB yesterday and I have a substantial mortgage.
RealPlayer89
RealPlayer89
Member since 26 Mar 2018
Total posts 4
On my second card this year no eorries
Blake
Blake
Member since 03 May 2017
Total posts 39
sim86on
sim86on
Virgin Australia - Velocity Rewards
Member since 08 May 2014
Total posts 48
I applied for a NAB Rewards card late last year after the start of the Royal Commission.
jch
jch
Virgin Australia - Velocity Rewards
Member since 15 Nov 2017
Total posts 143
Lol they should only be looking at those statements to confirm your salary amount went into that account, not how much you spent on dinner Saturday night!
Blake
Blake
Member since 03 May 2017
Total posts 39
They dont question how much you spent on dinner on Saturday night. Debit transactions that would attract extra questions are those that might be repayments on a loan that the applicant didnt declare.
jch
jch
Virgin Australia - Velocity Rewards
Member since 15 Nov 2017
Total posts 143
Just got approved for an ANZ card, doesn't seem to be that much different. Hopefully Westpac points come through before it's time to apply for St George!