I don’t know if anyone has had the same problem. I applied for this card a while ago and after protracted telephone calls with the verification centre they use in India I was rejected. In my mind I more than qualified for the $75k income criteria. I sent them the last ATO notice of assessment and they informed me the ATO ‘taxable income’ was only $56K. I explained that this was ‘taxable income’ not gross income as I’d made concessional contributions into my superannuation scheme. Evidently, this can’t be considered!! I called 13 37 39 and this was confirmed. I suggested their ad needs clarification. Point Hacks may wish to comment on whether they wish to clarify on their website too.
I also had an overseas income that I declare to ATO and paid tax in Australia on this income. This too I was advised cannot be considered unless it is directly paid into an Australian bank.
I have been seeing a few mentions of declines for this card.\r\nI actually applied for it yesterday and was approved in a few hours despite having what I thought was a fairly weak application. \r\nMy income is more than the required but less than 100k and I have only been at my current job for 2 months! I have also only lived at my current address for 10 months. I provided them with 3 payslips (paid fortnightly) which I am not sure was enough to even meet the period of payslips they requested. \r\nI have a mortgage (albeit not huge) and $9k limit on other cards. \r\nVery strange.
Same occurred with me, and I saw your post on their facebook page.
Except in my case I comfortably exceed the minimum income criteria even with ATO, no debts / loans, large cash assets, no balance owing on existing cards (total limit < $20K), provided all the paperwork they have requested, declined based on amount of credit that could be approved was less than card minimum. Never been turned down for a Credit Card and have often held 2 or 3 with $15K concurrently in past years with lower income. The call centre can provide me with no explanation of the amount approved, or reasons given for the low approval, nor what aspect of the criteria / application didn’t pass.
AVOID if you can given their shocking application & verification process. Now I’ve potentially got a decline on my report with no clear explanation of how they’ve determined that.
Hi Andy,
Their Facebook page initially asked me to send the details to : expert@virginmoney.com.au - this I did - only to receive a call from an Indian lady saying she was the supervisor and I’d been rejected. I wrote back to the original Facebook guy who had responded. Nothing! Same for my post.
I too am concerned about the ‘rejection’ on my record. I have no debt & other cards like you and wouldn’t have applied if I couldn’t have met the $4k a month to get the 120,000 Velocity points.
I’m now on the Qantas cards and will let my Virgin Platinum expire - through Gold, then fly Qantas.
What really frustrated me was the hour worth of telephone conversation with their Indian call centre.
Hopefully others will read our posts and not waste their time. I thought Point Hacks would have something to say - after all they get a referral fee.
Hi,
Also just applied, after finally getting rid of Citibank Signature, woeful service, even lied when cancelling saying we had 30k of points that would be lost if we cancelled now, which was not the case. Missed reading section stating Virgin card run by Citibank, so probably wont get accepted despite easily meeting all criteria.
I am also happy for Keith and Point Hack to receive referral fee but hope PH represent their followers with the “40k points each month” after 3k spend as Virgin Money site, only shows 15k points per month for 5 months of $3k spending for 80k all up. Also eligible purchases don’t include Auspost, ATO, all Bpay, council rates, motor registry payments etc, so read fine print as a lot of peoples previous earns used to come from bill payments, but this is being slowly removed.