Balance Transfer

Discussion in 'Open Discussion' started by USER, Feb 5, 2007.

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  1. USER

    USER Newbie

    Jan 29, 2007
    5
    0
    Hi,
    Can any tell me for sure that if i change the credit card to a lower rate CC with the same bank (Bankwest), do they do the credit check or just swap the card. The reason i ask is that recently i applied for a personal Loan but the bank (ANZ) wont give me a loan coz there has been a lot of activity in my credit file lately and apparently its not good and asked me not to apply for a CC or PL for 3 months or so...and then try again... Is this a valid reason to refuse? mind you i dont have any defaults or anything.....I judt dont want another entry in my file..thats all...

    thanks
     

  2. Mal

    Mal Enthusiast

    Dec 25, 2004
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  3. Dave Noble

    Dave Noble Senior Member

    Oct 10, 2005
    6,419
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    If they want to check then they need your permission to do so, so you would know if they are going to

    Any reason that the bank wants to give is a valid reason; they are under no obligation to offer a loan to anyone. A lot of activity would be a good reason imo since it could mean that you now have a lot of cards

    Dave
     
  4. Evan

    Evan Established Member

    Dec 26, 2006
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    SIN / MEL
    Its a valid reason as Dave says.
    I had a lot on mine, checks that is, the problem is even moving house getting the phone/gas/water/elec connected adds checks to your file. Difficult to avoid by Amex rejected an application for a card for me years ago for that reason, i just applied again later and was accepted.

    Evan
     
  5. Dave Noble

    Dave Noble Senior Member

    Oct 10, 2005
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    Ive never had checks for those. When I looked at getting a phone line with TransAct, during the sign up they read the terms and when it came to doing credit checks that was the bit where I refused and went to Telstra instead. No justification on checks for a phone line

    Dave
     
  6. Evan

    Evan Established Member

    Dec 26, 2006
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    Thats strange, it was Telstra that did the check, been now 6 or 7 years without Telstra so don't know what current policy is. Could it have been my age ? (ok i am over the hill now being 30 but maybe they looked at a 20 year old differently than somebody older when decideing what conditions would be relevent ?)
    It didn't worry me as such, just interesting how different institutions look at credit checks.

    I just wish all those people who you had credit with reported back and could have positive comments like, loan paid in 2 years instead of 5.

    Evan
     
  7. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    The provision of a post paid phone to a subscriber results in the company extending you credit for that line, and thus the phone companies are quite justified in doing these checks. I know that Telstra do check at least some people.
     
  8. Dave Noble

    Dave Noble Senior Member

    Oct 10, 2005
    6,419
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    Well, I was not going to let TransAct do a credit check on a credit level as pitiful as a phone line

    Dave
     
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