2nd Credit Card Not Approved, Should I Have Wait a Bit Longer before Applying?

borgainerz on 04/06/2024 - 11:43

Closed my first ever Credit Card with Commbank last month, applied for NAB Reward Signature ($15k credit) and got approved.

Waited a couple days and applied on the ANZ Platimum ($6k limit) to get the 300 cashback bonus, and just got rejected today.

They said they will send a letter of explanaition within 7days.

Is it hard to get a second Credit Card and how should I proceed to maximize my chances? Just want to bonus and close it after 3 months or so.

PS: I have no debt, no loan, and I'm renting.

Thanks

Financial Credit Card

Comments

  • MrBr0 on 04/06/2024 - 11:47

    So you went from $0 credit to $15k of credit then few days later asked for another $6k of credit and got rejected.

    Either apply for them all on the same day or step through them one by one.

  • SnoozeAndLose on 04/06/2024 - 11:51
    +1

    ANZ credit card has become one of the strictest for us.

    Got approved for 20K for Citibank, 15K for St George, 15K for Westpac but not 10K for ANZ.

    • borgainerz on 04/06/2024 - 16:09

      good to know, I'll try others

      • Ozfanmel on 07/06/2024 - 16:51

        Westpac declined my application, citibank approved. May try another one.

        I couldnt find any status in the report saying my card declined on the credit report. Is it have any status like rejected in the application or only enquiry will be listed out?

        • borgainerz on 07/06/2024 - 20:42

          Westpac just approved today.

          I think ANZ did not approved me because they still saw my first CC on their files, even it it was closed.
          Westpack asked me about it, (they knew it) and I just had to check "credit card closed" and send the proof from my bank.

  • Muzeeb on 04/06/2024 - 11:51
    +5

    As Mrs Muzeeb always says

    That was too quick

  • Autonomic on 04/06/2024 - 12:00
    +2

    I normally space out credit card applications by min. 6 weeks. You can always try calling ANZ and pleading your case for a review.

  • tsunamisurfer on 04/06/2024 - 12:55
    +2

    Two things.

    1) It takes time for your credit file to reflect that your first CC is closed. When you applied for CC # 3, ANZ could have been seeing CBA CC Limit + $15k + $6k.

    2) Applying for 2 CCs in the span of days is not wise.

    I might be wrong but I doubt that you will get a letter detailing why you were rejected. It will likely be generic in wording.

    • borgainerz on 04/06/2024 - 15:07

      The email says: "You should receive a letter explaining this decision in more detail in the coming days"

      Not sure what to expect, wait and see

  • AustriaBargain on 04/06/2024 - 13:43

    I wonder if their algorithm applies more scrutiny when offers for cash back and stuff is on, responding to the unusually high number of applicants that will always come along that never actually pay off because they are constantly churning. Maybe they saw you coming.

    • borgainerz on 04/06/2024 - 15:05

      They are long term offers, so I don't believe that.

  • Pikaloo on 04/06/2024 - 18:05
    +1

    If you have close to 0 credit card history try and get AMEX first, otherwise it's near impossible to get it as a churner.

    Just call ANZ and tell them that your previous credit card was closed, from credit card closure to it being reflected on your actual credit report can take months, it isn't instantaneous.

    • borgainerz on 04/06/2024 - 19:43

      Thanks I'll call them tomorrow. I'll check Amex too; but I don't think they offer one-off cashback

  • AnyFurtherDiscount on 05/06/2024 - 12:14

    Say NO to ANZ. Their overseas call centre are paranoid and ask questions like "what is $0.75 cents you spend on 18/10/1992 and why the merchant name Coles?"

    • borgainerz on 05/06/2024 - 12:39

      OMG lol sound scary. Yeah I read a bunch of stuff regardig ANZ, honeslty I just wanted to quick grab the 300$ cashback and gtfo

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