Get A Credit Card Without Pay Slips?

Utopian on 07/01/2015 - 12:42

TL;DR… Will anyone give a CC with PAYG Payment Summary only?

Had a big combined income & rental income (covers a mortg) until Dec 2014, now redundant & looking to study.

Wife & did all the right things with the money, (paid-off 2 cars, closed my CC with $17k limit). I could do with one now, to smooth out the hit! She has $8k CC ($0 owing) I have 2nd card) but I'd like apply for one, and spread big costs in next ~45days over 6-12 mths.

Zero black marks ever, of any sort. Excellent financial history/discipline. Full balances paid by due dates, 15+ years.

Thanks in advance.

Financial

Comments

  • ozhunter on 07/01/2015 - 13:19

    I would say it's very unlikely. From their perspective, you wouldn't be able to pay it back.

    • adamren on 08/01/2015 - 15:17

      No it doesn't work like that exactly. They'll get their money don't you worry. It's pretty much if you've never had a card or are bankrupt. Or have a really bad credit rating, late on everything.

      There are even people on the dole that get card(s).

      OP is a pretty low risk. No black marks. Cars paid off, has an investment property and now going to uni/TAFE for further education. Good history and paying balances for 15 years, they'll be fine. He's just fretting a little bit as he's careful about his finances.

      They'll start them off at $5k and see how they go and they can up the limit if need be. $5000 to a bank is nothing versus the gain of his fees etc. for rest of his life.

    • Utopian on 10/01/2015 - 19:45

      @ozhunter
      I can get a $500k mortgage with 'end of year' papers. Why not a CC?

  • adamren on 07/01/2015 - 13:25

    Just about anyone with no black marks and some income can get a card on the high rate ones. Ask your bank if you've been with them at least 3 to 5 years. What limit do you need? Easy up to $5000.

    PM me and I can reveal a popular one that is very easy to get even if you're just a student. They hand them out basically because they are fighting for more members. Competition is great.

    Why did you close the $17k card? That's just nuts. Get them to waive the fee if you never use it.

    • PVA on 07/01/2015 - 19:12
      +3

      why not just say the company that offers this credit card rather than have to PM. no need to be secretive (unless you are getting commission out of the deal)

      • mustkill on 08/01/2015 - 08:04
        -1

        Pretty obvious the 'company' is CBA.

        • PVA on 08/01/2015 - 15:14
          +1

          Is it, wasn't obvious to me.
          Popular one would be any of the big 4 or any of the major state/ building societies

    • Utopian on 08/01/2015 - 08:44
      +2

      Both our limits got higher & higher, great. But we wanted to go for a max mortgage in 6-12 mths, so we were killing-off all debts & available borrowing. Borrowers minus CC limits from your mortgage capacity, despite $0 balance.

  • mini2 on 07/01/2015 - 14:07
    +3

    I don't know who you're with but assuming your $17k card was closed recently. Hit them up and see if they could re-open the account and drop the credit limit accordingly without applying for it again.

    • Utopian on 08/01/2015 - 08:48

      Bankwest Platinum.

      My wife has lived in Aus <10yrs, so we've been working on her credit rating. Pushing all spending through her Bankwest Zero.

      It wouldn't provide a free balance transfer, the aim of the excercise.

      Maybe this NAB 0% 15mths on purchases is the go
      https://www.ozbargain.com.au/node/178267
      That's who my mortgage is with.

  • koplik8 on 07/01/2015 - 18:04
    +1

    Do the application online. I did one for another bank I don't currently bank with. 6 weeks later it was in the post box. I didn't even know it was approved

    • adamren on 08/01/2015 - 15:08

      Same. It's weird, I applied for Cole MC (I think they're still with GE Money) and thought they'd be super easy but they asked for proof of income and I thought stuff 'em, and I don't like GE Money anyways (but Harvey Norman love them).

      Which bank was this? Others mentioned that CBA is easy, never would have thought they were so easy.

  • lawyerz on 07/01/2015 - 19:26
    +1

    I applied for Westpac platinum and they approved it without even asking for payslips..

  • Baysew on 08/01/2015 - 08:54

    Had a big combined income & rental income (covers a mortg) until Dec 2014, now redundant & looking to study.

    What the OP appears to be asking, is can he get a Credit Card without an income

    (The PAYG Payment Summary to be used to somehow mislead the lender of current (No Pay Slips/ No income) situation.)

    • mini2 on 08/01/2015 - 11:47
      +1

      Well the OP could get a student card when they finalised their enrolment as a student , CBA offers one and (not too sure if) ANZ still offers one.

      A decade ago CBA gave me $500 limit (lol) but ANZ was substantially more (IIRC $4k?)

      I was suggesting the OP to check with their bank and see if they could re-issue the recently cancelled/closed account without applying which would be the least effort/hassle.

    • Utopian on 10/01/2015 - 19:52

      "Don't ask, don't tell" is what I'm looking for, for strategy described.

  • Gunther on 08/01/2015 - 11:25
    +2

    28 Degrees did not check my payslips, bank statements and the credit check failed to go through as I provided the wrong address. All I did was provide full ID at a Australia Post Branch.

    Credit card turned up in the mail anyway. $5k+

  • adamren on 08/01/2015 - 15:13

    One thing I forgot to mention and everyone else has failed to mention is the numbers you put in, your expenses and your income.

    If you have say more than 90% outgoings from your income then chances are they're not going to be so happy.

    But (at the risk of fraud though) they don't require proof of expenses (and some don't even care about proof of income levels), I know people that have put that they have hardly any expenses and will get approved, but it isn't a massive risk because they pay off the balance each month as you should.

    Issuers still make money from having you as an account, also from the transaction fees, annual fees and in the event you slip up and miss the due date, or have an emergency and max out, so they're happy to take the risk, give the cards out easy and earn the 22% p.a IR.

Login or Join to leave a comment
Login Join