So I've had a read online on google on what are common cases credit cards will be rejected but I couldn't find anything specific to a brand new credit card applicant with 0 credit history.
I saw the deal for the ANZ Black Frequent Flyer credit card and applied but was told it was rejected but that they could offer the base frequent flyer card.
I ended up accepting it and meeting the minimum spend in a week.
When thinking about it, there's only four reasons a brand new credit card application on someone with no credit card history could be rejected (feel free to add if i'm missing).
- Not enough credit history (0 to be specific)
- Not high enough income ($100k~ Salary after tax and $40K~ p/a in side gigs and more in capital gains)
- Too high expenditure (from memory, $40-50K expenditure including rent)
- Too low expenditure (e.g. not enough expenditure to warrant a higher tier card?)
Would anyone here be able to provide some insight onto which it could be?
I've applied again with Qantas for their 120K point spend but with a lower expenditure ($10-20K) as I would no longer be renting as i'm planning on buying a residential property.
Also, does paying for goods/services on Paypal constitute as eligible spend?
Would it not be possible to send money back and forth between two accounts or a friend to meet the eligible spend if this is the case (of course there is a transaction fee).