Unsuccessful application!!

[julie60]

Not too sure if this is a vent or request for advice. I have just been rejected for an ANZ Platinum CC. I bank with and have mortgages with ANZ. I have two other CC with a total of $16K limits. One ($10) closed last week. My income far outweighs my expenditure and I have an excellent credit rating, so cannot fathom at all why I was rejected. This was after several calls in relation to my income. I expect that this is probably why, as even I have difficulty explaining it. I pay 45% of my pay into my super, and also have excellent salary sacrifice as I am in non for profit, so it appears that I get paid very little, about 30% of my gross pay. BUT obviously I get the salary sacrifice into my account, my pay and I get tax free super payments, which take me up to what I would get if I didn't do the above. ANZ have access to my accounts and can see that each fortnight I receive exactly the same and have done so for months and months, so all you clever people, why on earth am I being refuse??? Any advice would be gratefully received as this will have severe restrictions on my ability to get lovely points!!

 

[Rich]

Maybe they treat the salary sacrifice to super as lost income ie treat your income as 30% of what it really is. I also get at tax free component working for a charity and I haven't found a way to easily explain that.
Another possibility is the closed credit card still appears on your credit file. Did you provide evidence to them that that account is closed?

 

[Rich]

Further to that, if the super was a problem I would use a letter of employment stating incoming rather than payslips for future applications where possible

 

[julie60]

I explained the card had been closed, she said ok...I suppose Ill just have to wear it and wait 3 months and apply again, whether for ANZ or not who knows

 

[33kft]

ANZ back-office are useless with anything but the most simple cases, however they will not be considering that income that you are salary sacrificing or contributing to super in your application, because their primary concern is loan servicibility and those funds cannot be used to service your outstanding credit (which they will assume to be the entire credit limit of the card regardless of whether you intend to carry a balance or not)

 

[cove]

Just try one of the other banks. Retail banks are not clever at assessments so don’t panic.

 

[diamondhands]

In my experience all credit card application assessments struggle to get their head around salary sacrificing. You’ll get judged on what lands in your bank account each pay.