Advice on limits for applications, and more.

[WeeWillyWonka]

as it's really the total limit that banks look at rather than the number of cards.

Is there any way a credit card provider can find out what your CC limit is by looking at your credit report?

 

[Scr77]

Is there any way a credit card provider can find out what your CC limit is by looking at your credit report?

Yes. If you sign up to credit savvy for example, you can see limits.

 

[Dr Ralph]

Is there any way a credit card provider can find out what your CC limit is by looking at your credit report?

Limits for cards you already have? Yes.

What your total credit limit may generally be is up to the assessment of each bank.

 

[WeeWillyWonka]

What your total credit limit may be generally be is up to the assessment of each bank.

yeah, figured. I have an excellent credit history and score, but my combined limit across two cards is +40K, so may reduce these before applying.

 

[GSP]

yeah, figured. I have an excellent credit history and score, but my combined limit across two cards is +40K, so may reduce these before applying.

If your strategy is to increase your chance of a successful application with a reduced combined credit limit, ensure that the closed accounts have flowed through to you Credit report. Equifax, you'll have to get a report for.

I'm now just been declined for 2 cards out of over 40 successful applications in past 3 years - I saw it on my Equifax credit report which has a lot deeper history from when I looked at a report about 12-18 months ago. One was from Citi and now Amex.

Both said that the application limit I had on my application differed from that of what they found on file (but wouldn't confirm that was the reason) and would enter no further discussion on re-assessment. Amex said try again in 3 month as any re-application would automatically decline.

When churning, need to ensure you have a card (or two) in place before any new application otherwise may get caught short if declines become common and each fail I'm getting the impression has a greater affect on your report than a successful application (you can tell as the limit is not listed). And I believe credit agencies are now taking far more interest in the detail that the credit agencies provide. Amex confirmed that was the main criteria now.

 

[WeeWillyWonka]

ensure that the closed accounts have flowed through to you Credit report. Equifax

I request this report every year from them to marry up Equifax cf. other credit report sources. The Equifax report doesn't show the limit available on a CC while credit savvy does.

 

[theblank]

If your strategy is to increase your chance of a successful application with a reduced combined credit limit, ensure that the closed accounts have flowed through to you Credit report. Equifax, you'll have to get a report for.

Equifax credit report is available monthly from one of those junk credit score marketing companies CreditSavvy, GetCreditScore and CreditSimple. One of these is Equifax, the other two are Illion and whatever D&B calls themselves now. I have no idea which is which.

Both said that the application limit I had on my application differed from that of what they found on file

Banks update monthly, but a closure or limit reduction could take 3 months depending on when its really closed, then you have to allow for the lags.

So the simple strategy is, cancel them sooner rather than later, and wait.

 

[33kft]

Equifax credit report is available monthly from one of those junk credit score marketing companies CreditSavvy, GetCreditScore and CreditSimple. One of these is Equifax, the other two are Illion and whatever D&B calls themselves now. I have no idea which is which.

D&B is illion, the others are equifax and experian.

 

[theblank]

D&B is illion, the others are equifax and experian.

i cant keep up, I will still refer to CRAA occasionally.

 

[mrmerc500]

Recently declined for the Citi Signature Qantas with Mark on file, would this greatly affect another application ( Immediate Decline? ) with CitiGroup in a couple of weeks time for the Qantas Premier Platinum?

Have made some changes to reduce existing limits, closed an Altitude Card & with only the 6k limit, will be in a better position although unsure as it’s another application with CitiGroup!

 

[Dr Ralph]

Recently declined for the Citi Signature Qantas with Mark on file, would this greatly affect another application ( Immediate Decline? ) with CitiGroup in a couple of weeks time for the Qantas Premier Platinum?

Likely.

If it was me I'd leave it 6 months.

 

[kdser]

I think Citibank has a policy of auto declining the application within how many months after the previous decline.

I vaguely remember it was six months but try to search the forum yourself to verify it.

 

[mrmerc500]

I think Citibank has a policy of auto declining the application within how many months after the previous decline.

I vaguely remember it was six months but try to search the forum yourself to verify it.

Thanks for the advice, their application call centre confirmed it is a 3 month exclusion period with any further Citi Product.

 

[Dr Ralph]

their application call centre confirmed it is a 3 month exclusion period with any further Citi Product.

I would give that statement ZERO reliance.

Never trust Citi bank.

 

[mrmerc500]

I would give that statement ZERO reliance.

My thoughts intially considering the different information that gets shared about when dealing with CitiBank. Vital Info no doubt!

 

[theblank]

I would give that statement ZERO reliance.

Whilst that might be the truth, if straight from the horses mouth is ZERO reliance, than anything else stated by Joe Forum contributer must be in the negative.

 

[SOPOOR]

Whilst that might be the truth, if straight from the horses mouth is ZERO reliance, than anything else stated by Joe Forum contributer must be in the negative.

If its something said by a phillipino call centre rep, id take joe forums word any day, seriously

 

[jabbairc]

Lovely thread, thank you guys!

Questions:

1/ I have 3 cards (2 Amex, 1 Visa) how easy / likely is it to get approved for a 4th?

2/ I tried to get a St George Amplify abt 6mths ago and was rejected. Shld I apply with a different amplify bank or all the same?

Good income, good credit rating etc.

3/ I'm thinking of getting rid of Amex PE and also reducing the high limit on Amex Explorer, cld that be the issue?

Wld love your thoughts guys, thank you!

 

[Scr77]

Lovely thread, thank you guys!

Questions:

1/ I have 3 cards (2 Amex, 1 Visa) how easy / likely is it to get approved for a 4th?

2/ I tried to get a St George Amplify abt 6mths ago and was rejected. Shld I apply with a different amplify bank or all the same?

Good income, good credit rating etc.

3/ I'm thinking of getting rid of Amex PE and also reducing the high limit on Amex Explorer, cld that be the issue?

Wld love your thoughts guys, thank you!

1/. Depends on your limits, expenses, income and the institution you are applying for. None Of us can say for sure.

2/. All The same organisation and I would expect the criteria to be the same.

3/. If you are making your points from churning credit cards (not from spending), I would be getting rid of unneeded cards/limits as soon a points are awarded and the card isnt required. This will also start your exclusion period before you can apply again.

 

[Dr Ralph]

Lovely thread, thank you guys!

Questions:

1/ I have 3 cards (2 Amex, 1 Visa) how easy / likely is it to get approved for a 4th?

2/ I tried to get a St George Amplify abt 6mths ago and was rejected. Shld I apply with a different amplify bank or all the same?

Good income, good credit rating etc.

3/ I'm thinking of getting rid of Amex PE and also reducing the high limit on Amex Explorer, cld that be the issue?

Wld love your thoughts guys, thank you!

1) Depends on your income/ability to repay.

2) Depends on your income/ability to repay. Has anything significantly changed since your last failed application?

You say 'good income, good credit rating etc' but exactly what does this mean? Being rejected for an application may in fact mean that a bank does not agree with your personal subjective assessment of your financial situation. If you've been reading the various threads on AFF you'd know that a credit rating by itself means very little.

I don't know why you'd have 4 cards simultaneously if you are serious about churning. 1 or 2 at a time is more reasonable.