ANZ Invalid Credit History Entry

[Deactivated] on 14/11/2017 - 18:11

Bit of an odd issue here…

I recently applied for a First Student Credit Card with a limit of $1000.

First time I applied I was earning around $25k/year. Part time employment, one employer. This application got denied with only a link to view my credit score to "better understand" why.

Second time I applied it was closer to $50k/year. Part time employment with 3 employers. Also denied, same link.

Went to the link and there's only 4 items on it. One is my Optus contract (<$1000 credit request and I've always paid on time), other is a $0 Optus contract (I got a second SIM that is $0/mo, don't ask me why they have to verify credit for this lol) then there's the odd part…

There's two credit score enquiries by ANZ, both with reason "CreditCard and both for the amount of $15,000. I don't believe they can be fraudulent as both are around the correct dates I applied, though I applied for only $1000 - not $15,000. Is this normal practice or has some at ANZ stuffed up? Note the required income is $15k+, so maybe they seen this and assumed it means $15k credit limit?

tl;dr:
Applied for $1k credit card.
Credit score shows I applied for $15k limit
Wtf?

Financial

Comments

  • Baysew on 14/11/2017 - 18:25
    +1

    As part of allocating a limit ANZ will get a Credit Check done. $15,000 is the maximum product limit for the cards you applied for, rather than your requested limit.

    • [Deactivated] on 14/11/2017 - 18:25

      The maximum for the card I applied for is $6,000.

      • Baysew on 14/11/2017 - 18:28

        There just using their standard card application $15k. Gold is $25k. so can say normal practice for ANZ.

        • [Deactivated] on 14/11/2017 - 18:40

          Just rung them up, seems it's actually because I accidentally opted in to receive future offers of increasing limit lol. Apparently when you tick this they automatically put the full $15,000, despite me applying for $1,000.

  • Bab on 14/11/2017 - 18:38

    If you strongly feely ANZ is at fault, log a complaint with them. I had an incorrect credit check entry removed years ago if I'm not mistaken.

    • [Deactivated] on 14/11/2017 - 18:41

      Rung them up and they basically said argue it with someone else - isn't anything to do with them.

      They did admit it's due to their automated system though and confirmed I didn't apply for $15,000.

  • Bab on 14/11/2017 - 18:43

    Speak to their supervisors and tell them you're going to raise it with Ombudsman.

  • garetz on 14/11/2017 - 18:52
    +2

    Ombudsmen, them hiding behind procedure or automation is not a valid excuse.

    • [Deactivated] on 14/11/2017 - 21:47

      Was thinking this, seems like quite a dodgy practice.

      Does it matter that much that it's worth going to ombudsman though? It only shows I applied, not that I have 15k+ credit cards.

  • xanit on 14/11/2017 - 19:33

    I had the exact same problem last week with a similar ANZ card - applied for a 1K limit but opted for that invitation not thinking it would stupidly apply for a $15K credit limit. Had to call up and get my application edited and reassessed and it finally got approved. Ugh.

    • [Deactivated] on 14/11/2017 - 21:49

      For me I didn't know about it at all, it's on my credit score for the next five years now apparently. Says I applied (and was declined) for $15k limit twice. In reality I wanted $1k limit and meet all criteria.

  • behzad on 14/11/2017 - 22:31

    i applied for a ANZ CC few weeks ago, and got hit by a 50k credit check in my credit report. How do I remove this?

  • lucjack on 15/11/2017 - 00:27
    +1

    I also had a $50K hit on one of my credit reports which is probably the upper limit for ANZ's Platinum card.

    Try calling the ANZ Credit Reporting Team on 1800 337 919. After asking why it was $50K when I never applied or was approved for that amount they sent a correction to the credit bureau and it was updated to the amount I was approved for.

    Even with rejected applications you might be able to get them to change the amount if you can convince them that you specified 1K, 6K ect when you applied.

    You can check your enquiries and scores at any time after creating accounts here:

    Experion - www.creditsavvy.com.au
    Dun & Bradstreet - www.creditsimple.com.au

    For Equifax (Veda) you only get the score at www.getcreditscore.com.au and need to apply and wait 10 days for the report to see the enquiries. Its free once a year or after any rejected application: www.mycreditfile.com.au

    • [Deactivated] on 15/11/2017 - 08:40

      Used the Veda one, as recommended by ANZ. That's the one that shows two $15k enquiries.

      ANZ constantly just claimed it doesn't matter and wouldn't really tell me if it can be changed.

      • lucjack on 15/11/2017 - 15:25

        Frontline staff are unlikely to have any idea what you are talking about or where to send you. Try calling the number above as this is the department that deals with these issues. Before you do check your other two reports with the links above so you can ask ANZ to correct these too if necessary. For me the $50K hit showed up on Veda and D+B but was only an "unspecified amount" with Experion.

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