Amex Rejection earning $300k

[theblank]

Not all card applicants fit the profile that the lender is seeking. If rejected, it may be better to just move on, annoying as it is.

This is very true also.

I recall a time NAB wanted to attract young university graduates to get credit cards, as they perceived these would be high value customers in the future. In the marketing briefing they said that those that fit this profile would be assessed more favourably by the auto approval system. They may have even advised to override declines where warranted - not that this was something we couldnt do anyway.

Such a thing would be a peice of cake to do in the back end at anytime.

 

[aikman]

You can do that way easier with a monthly salary, and you can be fired any day. What's your point?

Who is more likely to blow all their money - someone with 1 million in their bank account or someone earning 10k a month? Think about it for 2 seconds.

It is generally accepted that if someone loses their job they will just get another one. Society has operated this way for generations. It is predictable behaviour.

This is not the case with someone who has a non-renewable pile of cash. Once most or all of it is gone, then it's gone. People might spend it in the share market, bad investments, purchase of a boat/car/holiday house/business etc. Banks cannot predict how people with non-renewable piles of cash will spend their money.

Nobody takes responsibility for their actions these days. They blame the banks for everything. I can understand if banks won't trust cash rich people to not blow it all one day.

 

[Cessna 180]

I have had a few AMEX over the years, even during the depths of Covid when I was on a casual income. Very easy application and approval.
Westpac told me they do not approve CC's unless on a full time income(their words at the time).

I have been back at my full time job for 18 months and swiftly rejected for AMEX around six months ago and then again just recently. Before any proof of income was asked for, or was I given a chance to upload any.

I rang both times and both times they mumbled something about a letter in the post and could not give a specific reason, blah blah.

I have learnt not to be too upset by these things and thence applied for the V Flyer-citi card and was approved fairly straight forwardly...

Who really knows how these things work. The whole job has become a bit more challenging, just adds to the fun of it i suppose..

 

[N0mad]

So i got the rejection letter in the mail indicating issues with my Veda credit file. Checked the file which was excellent and called up to see if it may have been income related since i didn't provide rental income.

The agent said if it was income related it would be on the letter and basically indicated it was from churning ie having a number of cards and cancelling with in a short period.

interestingly i've been pretty lax in the last 12 months maybe 2 applications and 3 cancellations.

 

[Trainyellow]

Except that you could blow all of your liquid assets and cash at the poker table tonight, or worse, lose it all on an online romance scam. Then how will you service your bank loan tomorrow?

If you had a reliable regular monthly salary on the other hand...

Then what if you lose your job tmr and bankrupt and job less.

The bank should work on people credit histories, bankrupt, unpaid or any deb collect.

People with good credit and pay ontime make no profit for them that why alway reject people with good payment history.

 

[Trainyellow]

Except that you could blow all of your liquid assets and cash at the poker table tonight, or worse, lose it all on an online romance scam. Then how will you service your bank loan tomorrow?

If you had a reliable regular monthly salary on the other hand...

When you lose your job and apply for it they still approve because statement still show the income. So income and a kid still don’t know why they dont want approve for good credit payment people because they make no money when payment is ontime.

They just make money and never make it probably because people no debt no unpaid history.

income or asset mean nothing to repayment and only good credit is the only way secure the repayment, they know it but they dont like it.

 

[levelnine]

When you lose your job and apply for it they still approve because statement still show the income. So stupid answer low IQ about income and a kid still know why they dont want approve for good credit payment people because they make no money when payment is ontime.
sick of low IQ answer like this. They just make money and never make it probably because people no debt no unpaid history.
income or asset mean nothing to repayment and only good credit is the only way secure the repayment, they know it but they dont like it.

Amex Rejection earning $300k

My brother with no debts applied for a mortgage and was rejected. After some investigation by the mortgage broker found out a home loan he had paid out some 5-10years ago was never cleared at one of the credit bureaux and still showing as owing plus also showing an unpaid Telstra bill...

www.australianfrequentflyer.com.au

 

[Myrna]

Just sharing an experience. i had a UK amex plat charge card when living in London for 8 years - no income requirements, as I did not work - although the no income requirement has now been changed. Returned to Sydney during the lockdown, tried to transfer credit profile to apply for a AU Amex plat charge card - the answer was an outright rejection by Amex due to no salary income! as we will resume our travel wanderlust and we want the priority pass card, the hilton gold so we got niece to apply for the Amex plat charge card, with her as primary and hubby as secondary cardholder - we offered to pay her annual fee if card was approved. she has salary income, a mortgage, one non-Amex credit card, and a good credit score. We were not sure if it would be approved, but it was!

 

[Brissy1]

Just sharing an experience. i had a UK amex plat charge card when living in London for 8 years - no income requirements, as I did not work - although the no income requirement has now been changed. Returned to Sydney during the lockdown, tried to transfer credit profile to apply for a AU Amex plat charge card - the answer was an outright rejection by Amex due to no salary income! as we will resume our travel wanderlust and we want the priority pass card, the hilton gold so we got niece to apply for the Amex plat charge card, with her as primary and hubby as secondary cardholder - we offered to pay her annual fee if card was approved. she has salary income, a mortgage, one non-Amex credit card, and a good credit score. We were not sure if it would be approved, but it was!

Good deal for you.
GREAT deal for your niece!