Credit Check Worry

letsplayludo on 04/08/2016 - 22:32
Last edited 05/08/2016 - 18:51 by 1 other user

Hi Ozbargain

I have something I need to get off my chest as it was worrying me all day today.

You see last week, I applied for one of the premium credit cards with bonus reward points. I went to a branch and said that I'm a long time customer and want to apply for this card but do not want to pay the annual fee. I told him I was interested to get the bonus points.

After some negotiation, he offered to waive the fee for the first year. In the meanwhile I asked him about how I can get the bonus reward points and he just said I have to meet the spend criteria.

After a couple of days, he completely denied discussing it. The issue that I am worried about really is the needless credit check.

I don't know what to do now. Shall I send a complaint to the bank? It has left me really disappointed and upset. I cannot also apply for a different card right away as it may end up being declined considering there is this enquiry on it this week.

I am okay with not getting this card - its not a requirement but more of a good to have. However, not happy with what they have done to my credit file and the general disregard for service.

Hope to get your views. Thank you.

Financial

closed Comments

  • isthisreally_me on 05/08/2016 - 00:15
    +6

    Standard practice to do credit check when applying for CC. Seems you were ok with it when you thought you would get bonus points but when you weren't eligible for that, you now get upset?

    Go to Masters get some wood, a hammer and nails, build a bridge and get over it.

    • aussieprepper on 05/08/2016 - 02:07
      +3

      While at masters buy some concrete! drink it and harden up princess!

    • letsplayludo on 05/08/2016 - 07:08

      Just to get it right - I only consented because the agreement was I would be getting the card including the points. I wouldnt have gone ahead otherwise. So you have missed the point I made in my post.

      If everyone just absorbed unprofessional behavior like you suggest, then everyone would become unprofessional.

      • Typical16-bitEnjoyer on 05/08/2016 - 08:01
        +2

        Just to get it right - the application you completed in the bank had no written indication of bonus points. You should read what you sign.

  • bluesky on 05/08/2016 - 03:37
    +2

    I think you are worrying unnecessarily. If your credit score is at a very good level to start with, and by your own account, you haven't been churning through credit cards - I doubt this enquiry will have much impact on it. Why not ask for your credit report to verify, if it will make you feel better?

    If the NAB personnel was in fact aware you were after the bonus points, but still signed you up, not intending to honour that condition, then it was not very professional of him.

    • naritas on 05/08/2016 - 13:06
      +1

      +1 on this comment.

      @lettsplayludo, if you had a score of 900+ (out of 1200) a single enquiry is not likely have any dramatic effect on your appeal to potential creditors. So despite this situation being annoying, it's not likely to be materially detrimental.

      Whether you will be able to get the enquiry removed may prove challenging, as other posters have pointed out, you had to have signed a document consenting to the check. In many respects, the credit reporting requirement is on the applicant to ensure they understand the offer clearly before signing/consenting to the credit check. However, the behaviour you describe (of the bank officer) could well be considered unprofessional. Perhaps a line of recourse is to provide constructive feedback about the staff person you dealt with. A well trained lending officer should always ensure a customer properly understands the product they are applying for & its relevant T&Cs before any application is made. By taking the time to make constructive feedback through the bank's feedback channels you can help ensure that this behaviour is not repeated.

      Hope this helps.

  • Typical16-bitEnjoyer on 05/08/2016 - 07:05
    +4

    Pretty sure that credit check has destroyed all hope of you owning a home, a car and succeeding in life. Or Not.

    Do you understand how credit history works? This event will have next to no negative impact.

    • Big Trev on 05/08/2016 - 07:54
      +4

      Yeah, if this "needless" credit check is enough to push your credit record over the edge into "don't loan to this guy", then you've probably got bigger fish to fry.

  • tomsco on 05/08/2016 - 07:21
    +2

    I'm more shocked that the application took an hour.

    • tomclancy on 05/08/2016 - 10:48
      +3

      $50 says it wasn't the bank manager telling his life story…

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