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ANZ frequent flyer black card

pdonahue

Newbie
Joined
Jan 31, 2014
Messages
9
Applied for this card as it offered 120k QFF points and a heap of status credits. I'm self employed so they initially required the latest tax return but as this hasn't been finalised yet, I put the ANZ bank people in touch with my accountant (much longer story here cut short!). Heard soon afterwards I heard that my application had been denied. Now, I'm only giving the following details to show how ridiculous ANZ bank's assessment methods must be. I have a gross income of over $700k pa, I have mortgage interest payments of about $55k pa (tax deductible), car loan repayments of about $15k pa (mostly business expenses so part deductible) and credit cards with a max credit of about $50k but zero outstanding balance and no other loans or debts. I simply cannot understand how the ANZ bank assessment system could come to the conclusion I could not afford their card! If I can't afford their card, very few people would be able to. I am considering a formal complaint, including to the financial services ombudsman.

Anyone else had ANZ bank card application problems?
 

Mattg

Senior Member
AFF Supporter
Joined
Aug 21, 2011
Messages
8,501
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In my experience, as someone who is self-employed ANZ will automatically deny your application unless you send your latest tax assessment notice (or something like this). It sounds to me like you did not provide this, therefore they declined?
 

pdonahue

Newbie
Joined
Jan 31, 2014
Messages
9
No, I did not supply my 2018 NOA as my 2018 return hasn't been submitted however I spoke to a credit card application staff member and then their supervisor. I was advised that the need for the 2018 return and NOA could be avoided by authorising the ANZ bank staff to contact my accountant directly which I did. They contacted my accountant who gave them the numbers in my post and then the application was rejected without any proper explanation.
 

tdimdad

Member
Joined
May 25, 2013
Messages
277
Having no idea what the assessment procedure and thresholds are, I would not be surprised if they summed up your loans (presuming $1M+ based on the data in the text) and the system said no, regardless how well you can actually service them.
 

pdonahue

Newbie
Joined
Jan 31, 2014
Messages
9
Maybe but the result is not good for either ANZ or me - pretty dumb business practice
 

Spongbob

Active Member
AFF Supporter
Joined
Sep 11, 2011
Messages
681
Your existing credit card limits could be a problem.
 

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