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quebec

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#293361 16-Jan-2022 15:23
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Just applied for SBS, still in progress but I think BNZ is slightly better value for around 18-20k/yr spend as you get travel insurance etc. Has anyone had experience with SBS bank or their card? Wonder if it's worth cancelling the application and applying for BNZ but don't want unnecessary credit checks on my file and not sure if SBS have done one so far or not. Did a credit simple report yesterday but nothing from SBS on file though their online application seems to do some sort of credit and identity check when processing when I applied on Friday and got conditional approval. Got email after few hours asking to provide income documents etc. 






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michaelmurfy
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  #2851562 16-Jan-2022 17:29
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So basically here is my advise. Go with a credit card with your main bank if you're going to be using it as your primary card. Consider other value added things such as Apple Pay / Google Pay and also interest rates, fees etc on top of your rewards.

 

Also remember that the new CCCFA legislation looks through all your financials so applying for a credit card with both banks at the same time may see you get declined by both. If you wish to apply through BNZ then ensure you cancel the SBS application first.





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quebec

746 posts

Ultimate Geek


  #2851564 16-Jan-2022 17:40
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Thanks @michaelmurfy. Ok so even if SBS have done a credit check and I cancel the application, it doesn’t matter for my BNZ application if they see some sort of credit check done by SBS like within a few days ago? Main bank card is not that great and fees is high, no cash back, reward scheme also not great so planning to cancel it if I get approved for a new SBS or BNZ card. I would like to cancel SBS application but if they’ve done a credit check and BNZ will see it which might affect outcome I’d rather just leave it as is.

quebec

746 posts

Ultimate Geek


  #2851566 16-Jan-2022 17:49
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Actually my current one is Westpac airpoints which I find useless. Anyone knows how Hotpoints pay works and at what rate it converts to $$?



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  #2851567 16-Jan-2022 17:53
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quebec: Actually my current one is Westpac airpoints which I find useless. Anyone knows how Hotpoints pay works and at what rate it converts to $$?

 

I can't remember the exact numbers but converting hotpoints to vouchers is about 15% better value than hotpoints pay I think


quebec

746 posts

Ultimate Geek


  #2851600 16-Jan-2022 19:13
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Basically what I want to know is if SBS have already done the credit check and put an entry on my file or not? If that’s the case I’d prefer to just go ahead with it and see the outcome. Anyway to find out?

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  #2851793 16-Jan-2022 22:05
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You should see a credit enquiry on your credit report.





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quebec

746 posts

Ultimate Geek


  #2851812 16-Jan-2022 23:22
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cokemaster:

You should see a credit enquiry on your credit report.


Doesn’t show up on credit simple. Does it get updated pretty quick,



Delorean
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  #2851816 16-Jan-2022 23:57
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There are 3 bureaus that can be used.

 

Equifax, illion and Centrix. SBS may not use illion (Credit Simple) as traditionally credit card issuers typically use Equifax. 

 

Also, it takes 24-48 hrs for illion to update the records.


quebec

746 posts

Ultimate Geek


  #2851834 17-Jan-2022 07:53
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I assumed the credit file across all agencies will have same data. So most likely SBS have already made an inquiry. Probably best to not cancel and see what happens and maybe change to BNZ after some time.

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