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Balance Transfer

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USER

Newbie
Joined
Jan 29, 2007
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5
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
 

Dave Noble

Senior Member
Joined
Oct 10, 2005
Messages
6,419
USER said:
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
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
 

Evan

Established Member
Joined
Dec 26, 2006
Messages
3,168
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
 

Dave Noble

Senior Member
Joined
Oct 10, 2005
Messages
6,419
Evan said:
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.
Evan
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
 

Evan

Established Member
Joined
Dec 26, 2006
Messages
3,168
Dave Noble said:
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
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
 

oz_mark

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Jun 30, 2002
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Dave Noble said:
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
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.
 

Dave Noble

Senior Member
Joined
Oct 10, 2005
Messages
6,419
oz_mark said:
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.
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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