Virgin Money Velocity Flyer Card Approval/Rejection

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  freestyle18 on 15/07/2019 - 22:33

  I've been rejected for all Citibank apps well exceeding criteria while being approved by others. I think for me they have biased against temp workers

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  Gelato on 15/07/2019 - 23:25

  with your $80k, is it from a permanent role and your income is regular each month? Or is it contract/casual/temp role?
  Another question is how long have you been in your current role.

  My guess is that if Virgin Money is also run by citi, their credit policies/source would be more or less similar and hence you're likely to be rejected again (sorry mate)

  though i'm also very curious about why you'd get rejected given you've met income criteria and i think your credit history was alright(?)

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    asbindia on 16/07/2019 - 05:56

    I am in a permanent role but it might have been that when I first applied I was promoted, I was on 70k before an now on 80k+ I think I was in my role for 2 months prior to applying. Maybe it was that I had recently been promoted!

    Credit history is Great.. It was 778 on credit savvy when I first applied now its 806

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      donbot on 16/07/2019 - 09:09

      I think I was in my role for 2 months prior to applying

      This throws up red flags to me. A credit provider might take view on this negatively and strike you out based on this.

      It may also depend on other credit limits you have currently - remember because of the Comprehensive Credit Reporting regime in place, I believe prospective lenders can view who you have open credit with, when you opened it, limits in place, etc.

      As for applying for a Citibank-backed card after being rejected for another citibank-backed card recently, I think thats asking for another rejection. Churning is still possible… have you considered the NAB/ANZ QF Variants giving off 90/100K for similar fee? Not as good as the 120K points for Qantas Premier, but in your position - I wouldnt take the risk of another citibank rejection unless its been >6months since your Virgin card rejection.

      Edit: Also, I personally think credit scores mean squat. I've been in the 400's and still approved for cards to churn through.

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        asbindia on 16/07/2019 - 13:30

        Hey thanks for your response, it was a QF rejection and that was in April. So probably not worthwhile then I guess. Thats sad cause the Virgin deal is quite good :(

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      Gelato on 16/07/2019 - 22:51

      yeah i agree with donbot…probably it was your time at employment that went against you. Personally i wouldn't apply for credit within 6 months of new employment (given a lot of workplaces have 6 months probation policy) and usually their system are not smart enough to recognise you have had a promotion.

      Anyway good luck with your bankwest card!

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  wittyusername on 16/07/2019 - 10:40

  I'm pretty sure that Citi deny financially healthy applicants. They know what you're doing and they know they won't make any money off you.

  I'm above the pay limit and was rejected, as was my Doctor sister in law.

  Check out the Westpac Amex Black combo - 120k points last I checked. If you're in no big rush you can keep an eye on it, cos last year it was no fee!

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    asbindia on 16/07/2019 - 13:33

    Hahhaahaha that is probably true… Pay my bills on time ALWAYS… Not paid interest in the last 5 years on Credit Cards!!

    I am just about to cancel my Westpac cards as I have received the bonus points.

    Was looking at getting the Bankwest Qantas Card but its only 90,000 points. Dont want to sign up just to see in a months time that they have increased it to 120k points and miss out on the extra 30k LoL

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      madreece on 16/07/2019 - 13:44

      Warning on applying for this Bankwest card. The only card I have been rejected for. 15 years at current employer, 16 years at owned house with no mortgage, better than 150K wage with 25K credit available on other cards with zero balance. Credit rating in the 800s.

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  madreece on 16/07/2019 - 13:41

  The main criteria is time in current employment and time at current residence, They are basically looking for stability and ability to track you down if you don't pay. I'd say that the new role went against you- computer says two months in your job and I'd say housing/visa situations may have also.
  Current assets really don't count for much. The hits on your credit file wont show a rejected application , just a hit from them.

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  asbindia on 16/07/2019 - 16:01

  Cool thanks… I have applied for the Bankwest one for now… I guess I will wait till Jan and then give that one a go!