Unsuccessful application!!

[julie60]

Not too sure if this is a vent or request for advice. I have just been rejected for an ANZ Platinum CC. I bank with and have mortgages with ANZ. I have two other CC with a total of $16K limits. One ($10) closed last week. My income far outweighs my expenditure and I have an excellent credit rating, so cannot fathom at all why I was rejected. This was after several calls in relation to my income. I expect that this is probably why, as even I have difficulty explaining it. I pay 45% of my pay into my super, and also have excellent salary sacrifice as I am in non for profit, so it appears that I get paid very little, about 30% of my gross pay. BUT obviously I get the salary sacrifice into my account, my pay and I get tax free super payments, which take me up to what I would get if I didn't do the above. ANZ have access to my accounts and can see that each fortnight I receive exactly the same and have done so for months and months, so all you clever people, why on earth am I being refuse??? Any advice would be gratefully received as this will have severe restrictions on my ability to get lovely points!!

 

[Rich]

Maybe they treat the salary sacrifice to super as lost income ie treat your income as 30% of what it really is. I also get at tax free component working for a charity and I haven't found a way to easily explain that.
Another possibility is the closed credit card still appears on your credit file. Did you provide evidence to them that that account is closed?

 

[Rich]

Further to that, if the super was a problem I would use a letter of employment stating incoming rather than payslips for future applications where possible

 

[julie60]

I explained the card had been closed, she said ok...I suppose Ill just have to wear it and wait 3 months and apply again, whether for ANZ or not who knows

 

[33kft]

ANZ back-office are useless with anything but the most simple cases, however they will not be considering that income that you are salary sacrificing or contributing to super in your application, because their primary concern is loan servicibility and those funds cannot be used to service your outstanding credit (which they will assume to be the entire credit limit of the card regardless of whether you intend to carry a balance or not)

 

[cove]

Just try one of the other banks. Retail banks are not clever at assessments so don’t panic.

 

[diamondhands]

In my experience all credit card application assessments struggle to get their head around salary sacrificing. You’ll get judged on what lands in your bank account each pay.

 

[SeatBackForward]

Not quite a rejection, but I cancelled my application. Our mortgage broker recently was able to refinance our existing situation to move across to ANZ. Without seeing or speaking to anyone at ANZ and having provided all the required details to the broker, we were approved a home loan and an offset account. But try opening a simple Joint account everyday savings account. "Please go into a branch with 100pts of ID each"...ok, then time to apply for a CC to go with the new banking "You'll need to provide all the same paperwork again for this application"....

Hmm clearly ANZ aren't interested in having me as a customer.

 

[N860CR]

ANZ aren’t great with applications. It’s all done in Bangalore and they really struggle with anything slightly non-standard. Salary sacrificing or anything that’s not really simple is too much for them to handle. Add on a complex payslip and you’re in even more trouble.

Don’t bother complaining. Escalations will do nothing. I did have a whinge last time but even the complaints person seemed pretty dense. Ended up saying “you declared an income of $27,000 per month but your payslips only added to $25,700”. When asking “isn’t that enough” I got dumb silence

 

[MELso]

I just got knocked back for an ANZ one too, and the salary sacrificing of super was a factor in reducing servicability (despite it being voluntary). Ho hum - will wait a few months for the enquiry recorded to be less of a factor and try again elsewhere...

 

[33kft]

I just got knocked back for an ANZ one too, and the salary sacrificing of super was a factor in reducing servicability (despite it being voluntary). Ho hum - will wait a few months for the enquiry recorded to be less of a factor and try again elsewhere...

You could always do what I do and drop the salary sacrifice and just make monthly bpay contributions? It's not quite the same in that you'll be paying with after-tax income and claiming back that income tax at tax time, but it wouldn't impact the serviceability for credit card assessment purposes.

 

[MELso]

You could always do what I do and drop the salary sacrifice and just make monthly bpay contributions? It's not quite the same in that you'll be paying with after-tax income and claiming back that income tax at tax time, but it wouldn't impact the serviceability for credit card assessment purposes.

Can't be bothered changing my approach (and missing out on the returns in the meantime) to deal with one bank's stupid approach to servicability. There are other credit providers out there whose products I'm yet to churn...

 

[SeatBackForward]

ANZ aren’t great with applications. It’s all done in Bangalore and they really struggle with anything slightly non-standard. Salary sacrificing or anything that’s not really simple is too much for them to handle. Add on a complex payslip and you’re in even more trouble.

Don’t bother complaining. Escalations will do nothing. I did have a whinge last time but even the complaints person seemed pretty dense. Ended up saying “you declared an income of $27,000 per month but your payslips only added to $25,700”. When asking “isn’t that enough” I got dumb silence

I haven't got the energy to complain about this. The reality of my situation is that I already have enough CC limits elsewhere, I probably didn't even need to refinance but did so because the broker made a good case for it. I'll be jacking off ANZ as soon as something better is offered.

Loyalty doesn't count for anything anymore, when they ALL encourage offers and deals to new customers only, they're actually encouraging you to regularly change.

 

[N860CR]

I haven't got the energy to complain about this. The reality of my situation is that I already have enough CC limits elsewhere, I probably didn't even need to refinance but did so because the broker made a good case for it. I'll be jacking off ANZ as soon as something better is offered.

Loyalty doesn't count for anything anymore, when they ALL encourage offers and deals to new customers only, they're actually encouraging you to regularly change.

Banks behave in bizarre ways. I get there’s legislation they need to follow… but I really think a lot of it is just job creation.

I sold my old Lexus recently and the guy who purchased it PayID’d the money expecting it to transfer right away. It didn’t, of course, so he called CBA and asked to escalate it. Had the call on speaker so I was listening in. Eventually they decide it’s fair to release his own money , but not before this call centre worker mothers him asking “are you sure you want it?”, “does it have many scratches?”, “is it worth that much?”, “maybe you could buy one from a dealer”.

Pretty incredible that our money isn’t really our money.

 

[SeatBackForward]

Pretty incredible that our money isn’t really our money.

Pretty incredible that an entire industry exists to move around something that is supposed to have no value, yet think they *are* the value of the economy...