Humm declined me

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Forums › Finance and wealth management › Humm declined me

xpd

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#293536 28-Jan-2022 14:15

So thought Id sign up with Humm as a way to obtain some more additions to my Hot Wheels collection without spending a large amount in a single hit.

Declined.

I'm on ZIP and other similar systems with no issue but the retailer in question only uses Humm.

I used the online chat with Humm - they just said I was declined because I didn't meet their standards.

The ONLY debt I have is a mortgage as most people do - I don't have a CC, or HP's etc. Checked with Credit Simple, and according to them, I'm in excellent standing.

Anyone else hit this issue with Humm ?

XPD / Gavin

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ShinyChrome

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#2857740 28-Jan-2022 14:22

Maybe you are too financially secure? I imagine the only way these places really make money is to prey on people that are likely to attract penalty fees etc

mattwnz

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#2857743 28-Jan-2022 14:28

I wonder if it has anything to do with the new credit contracts and consumer finance act? Maybe they are not signing anyone up at the moment? It seems to be a bit of a mess of a law.

mudguard

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#2857744 28-Jan-2022 14:28

Do you have anything at all on your credit check? If you come up blank it may be a reason. If mortgage, utilities etc were all signed up over seven years ago there may be nothing in your credit report.

xpd

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#2857750 28-Jan-2022 14:47

Only thing showing is mortgage.

Oh well, must be just me. Some red flag they don't like for whatever reason.

XPD / Gavin

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michaelmurfy

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#2857762 28-Jan-2022 15:13

ShinyChrome:

Maybe you are too financially secure? I imagine the only way these places really make money is to prey on people that are likely to attract penalty fees etc

Years ago I tried getting a Purple Visa for an overseas trip - I got declined. Back then I had a tonne of savings and was pre-approved for a home loan as well as had a credit card I would pay off in full every month. I asked them why they declined me and they didn't give me a reason. Eventually got somebody who mentioned it was because I paid my card off in full they wouldn't make any money off me so they declined me based on that. No loss, but also pretty crappy they were doing this.

Thank goodness for CCCFA really as it stops quite a bit of this also.

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CruciasNZ

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#2857912 28-Jan-2022 18:23

I had Humm pack a wobbly on me months ago and their support person couldn't tell me what happened, or override it. They told me to reapply after 90 days, and when I remembered (well after 90 days) it told me I already had an account and packed another wobbly. So decided Humm doesn't need my service. Bit annoying because PBTech doesn't have AfterPay (and they jack prices up when they sell on Trademe), but that's really the only store it causes a problem at so no real loss to me

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#2857927 28-Jan-2022 18:35

BNPL sector has some interesting economics

https://www.afr.com/chanticleer/humm-deal-a-turning-point-for-buy-now-pay-later-20220106-p59m90

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#2857962 28-Jan-2022 20:37

I was denied trying to extend the limit on a Q card a year or two ago. At the time I had a Creditsimple score of 997/1000.

I've given up trying to understand these things lol.

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