Hi all
Used to have no issue getting approved, but for the past 6 months, constantly rejected.
No change to financial circumstances, just a fair few applications…credit score has dipped a bit.
Any ideas to overcome this? Or is it just a waiting game?
Grateful if anyone has some tips/advice.
Cheers
Cheers, yeah I had a lot of approved ones that I didn't go through with; and applied again after…silly me. But I also think this is one of the less predictive metrics they use…sigh
Why would you do that? It's a terrible idea under the old and new credit rating systems.
yeah I had a lot of approved ones that I didn't go through with
Just wasted a lot of credit checks.
Blame royal commission, since it introduce the success rate drop to 30% from 95%
You churning cards?
Chin up, plenty of fish in the sea, you'll find the right card for you if you put yourself out there.
Credit Score: Means Nothing
Credit report: Means everything… and since comprehensive reporting started your report is more clear to lenders as to what you have.
Churning cards is a LOT harder now and multiple apps over a short period of time will not look good to any lender.
Too many applications over a short period? Probably just wait and maybe it's for the best.