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.