NAB sending the wrong card out?

[kaktusdigital]

Hi all,

I recently applied for the 60,000 NAB Velocity Rewards Premium card. It was approved, but then they sent out the lower tiered Velocity card. Has anyone had this happen before? I called NAB and being a friday night, the only staff available could not answer the question. She did guess that perhaps I did not qualify for the Premium/Platinum card, so they gave me the lower one instead.

A. My Veda score is pretty good and all other requirements can bet met easily. So not sure how I don't qualify.
B. With the chance that I didn't qualify, can banks just issue the 'next best product' without even asking whether you want it?

Interested to see if anyone's had similar experiences.

Thanks in advance.

 

[TomVexille]

I'm assuming that you have an email/letter/screenshot of the approval?

 

[theblank]

A. My Veda score is pretty good and all other requirements can bet met easily. So not sure how I don't qualify.
B. With the chance that I didn't qualify, can banks just issue the 'next best product' without even asking whether you want it?

The platinum has a minimum limit of $6000. If you didnt qualify for a $6000 limit then you cant get it.
Your Veda credit score has nothing to do with anything. The limit you get is based on some simple maths on your income and expenses.

If you dont want the credit card, then you dont have to accept it. Just ring them up and they will cancel it.

 

[asterix]

Pretty sure when I applied in Feb it said that if you didn't qualify for the Platinum they'd give you the lower one.

 

[kaktusdigital]

The platinum has a minimum limit of $6000. If you didnt qualify for a $6000 limit then you cant get it.
Your Veda credit score has nothing to do with anything. The limit you get is based on some simple maths on your income and expenses.

If you dont want the credit card, then you dont have to accept it. Just ring them up and they will cancel it.

The 6,000 minimum limit makes sense now as to why I didn't qualify. Probably should have canceled some other cards first before applying, I assume the total of other CC's would impact on my 'ability' to repay a certain amount each month.
Probably wont cancel now as my Veda score dropped a few points as a result of the application already. Oh well, 30K bonus better than nothing.

Thank you for everyone's help.

 

[masterpabu]

Pretty sure when I applied in Feb it said that if you didn't qualify for the Platinum they'd give you the lower one.

Yep this happened to me earlier this year, I applied for the Platinum and was given the lower tiered card, even though I already had that one which was why they couldn't approve me for the 6000 limit minimum. Oddly both new and old card limits combined was over 6,000 so I called up and explained the situation and got the new card cancelled, applied again in branch and was approved on the spot for the Platinum

Personally the benefits greatly outweighed the hassle for me, now just waiting for those sweet bonus points!

 

[kaktusdigital]

Yep this happened to me earlier this year, I applied for the Platinum and was given the lower tiered card, even though I already had that one which was why they couldn't approve me for the 6000 limit minimum. Oddly both new and old card limits combined was over 6,000 so I called up and explained the situation and got the new card cancelled, applied again in branch and was approved on the spot for the Platinum

Personally the benefits greatly outweighed the hassle for me, now just waiting for those sweet bonus points!

did the new application cause your credit score to drop additional points?

 

[masterpabu]

did the new application cause your credit score to drop additional points?

Unfortunately it did drop a bit more (according to one credit score site anyway), the last time I applied for a credit card was a year ago and I doubt I'd be applying for any new ones for a while so it doesn't worry me much

 

[kaktusdigital]

Unfortunately it did drop a bit more (according to one credit score site anyway), the last time I applied for a credit card was a year ago and I doubt I'd be applying for any new ones for a while so it doesn't worry me much

ah ok, thanks for that. don't think I can afford any more drops for a while.