Ultimate Application Denied - Frustrating

[one9]

Sometimes it can be very random. Have you moved twice in the last year?
Any other applications recently.

I worked out that my David Jones Store card was listed as a Amex DJ's card on my credit file which I thought might be causing issues.

Amex is particularly fussy about the time at your current address. Being over 3 or 5 years really helps.

Also Earth card is assessed by Westpac, where Amex card is assessed by Amex. These applications are processed by different companies, so if you are declined by both, I would suggest carefully looking at each question on the form and considering your answers carefully.

[ChrisCh]

When I applied for my Earth account, I entered my weekly pay amount, but accidentally selected the time period for the entry as "monthly" (and didn't realise until after I had submitted it)... the account was approved, but only had a rather low limit... I later called them to correct it, and they said that it would be updated on my profile, and 6 months later I received a limit increase offer which almost tripled the limit... you didn't make a silly mistake like me did you?

[Alanslegal]

The only thing I can think of is that the history of employment OR history of income has come into heavy consideration.

Assuming there are no other variables; I think the lenders will say someone who has regularly earnt $70,000 each year for the past five years is more credit worthy than someone who has just started earning $150,000.

[straitman]

rhealy,

Is it possible that you are not showing up as having enough credit history ie only one low limit CC against your name.

Amex is particularly fussy about the time at your current address. Being over 3 or 5 years really helps.

one9,

I have not heard of that so a good one to store away. Having said that I applied for and received an Amex Platinum Charge Card last year after only living at the current address for 3 months. I did have a long history though with an Amex Corporate Card and an Amex Platinum Credit Card.

[greenfrog86]

It sounds like this is not an issue from your credit report, however could be a problem with your answers to some of the questions...

It is very strange that you would be declined for both institutions - presumably you have used the same answers on both applications?

One thing from credit reports that may be considered negatively is a 'rapid fire' approach to applications in a short period of time - ie this is considered as showing you are 'desperate' for credit. As you only did this a few years ago, this should not be taken into account in your application scoring this year...

There are a number of things that are taken into consideration when assessing applications - address is one of them, however this would not usually dictate whether you are approved or not. It may be used for determining your 'likely' risk (which in turn guides your credit limit and any offer of increases etc).

One thing to think about is your contact details - many application forms ask for telephone numbers (ie landlines). Ensure that you are using one that matches your location (ie if you do not have a landline it is tempting to use a relatives, and they may live in a differant area etc). This kind of information as someone pointed out, may be compared with applications from others to check for abnormalities.

Has anyone at your address applied for cards recently also? If they have been approved it would seem that your address means nothing in the application.

Was Westpac any more forthcoming with answers as to your rejection? Most organisations will tell you details of your rejection - but usually at a high level... ie they will say it was because you don't earn enough, or because you have too much credit already, or because you failed the organisation's scoring process (but they will not tell you which part of this).

It would be worth asking to speak to someone in Credit Assessment - most customer service operators can only see notes (ie app declined) and you need to talk to the assessment team who can access your app and your assessment.

It might also be worth asking them if they feel that another product may be more suitable (ie may be approved for you) given your situation.

Westpac decline seems pretty harsh when I have debt, don't earn 6 figures and was approved for platinum....