Is anyone else struggling to be approved for new credit cards?

Credit Cards & Credit Card Programs
1

Hi all just wanted to see if anyone else is experiencing the same difficulty as me in being approved for credit cards recently(specifically qantas related ones)?
recently started my own points hack journey around a year ago and have been successful with two no fee, 75k sign up bonus cards but have been unsuccessful in acquiring a new card(3 or 4 rejections).

I realise the pandemic wont of helped with lending criteria
I am Self employed and earn 100k+ (and have done last couple years)
relatively low debt, just a commercial car loan under my business- 30k
and an interest free gem visa purchase - 1400

is there something im missing?
Thanks.

2

There are a number of reasons why you can be unsuccessful.

If you don’t “tick all their boxes” they are looking for, they won’t approve. They are very black and white in assessing and don’t be surprised that occasionally you don’t get approved.

Aside from the obvious reasons of having too many cards (because they are looking at the combined total credit limits for those cards even through you may have a zero balance) or too many recent credit inquiries, some credit providers are just simply notoriously ‘difficult’.

Which were the cards/credit providers that you were unsuccessful for?

1 Like
3

Qantas Premier platinum card
Westpac Altitude Platinum card
and recently the St. George Amplify Platinum.

The qantas and westpac cards were rejected straight away and St george took 4-5 days to get a rejection.

The two cards i’ve had prior were the ANZ rewards travel card (75k)
and the Qantas Amex premium card (75k)

Also are there credit providers known for being relatively easy to meet their criteria when applying for a rewards card?

4

Qantas Premier Platinum is Citibank who can be notoriously difficult. My experience with St. George, being a smaller financial institution, is that they are also difficult.
As for the Westpac Altitude Platinum however (with its lower credit limit than their Altitude Black card) you should have theoretically had no difficulty and I’d suggest there was some reason. As you go on “point hacking” you will come to see the pattern in the sort of things that get you declined. Did you cancel the two earlier cards once you’d received the bonus points before going on to apply for more? Be careful as you complete the application as well and answer carefully. I’ve churned about 40 cards so as you go on you’ll get the hang.

1 Like
5

Yeah cancelled the cards before applying for a new one, it’s difficult when they decline you and all you get is a generic rejection email. Thanks for the reply mate.

6

Unfortunately that generic letter, which point hackers are all familiar with :unamused:, is all they’ll ever give you. Exactly how they determine applications is largely unknown.