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  Reply # 2113122 24-Oct-2018 09:40
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ObidiahSlope:

 

About banks being weird about issuing credit cards. I was told by someone who used to work in a bank about an couple he was dealing with who wanted a credit card. He feed all the required application information into the machine and got back a "computer says no" message.

 

This was nuts because the couple had been customers of the bank for decades without any problems and had several million dollars on fixed deposit. He asked the branch manager to overrule the decision but the manager refused.

 

 

If I was that couple and really wanted a credit card I would be voting with my feet and taking my money with me.


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  Reply # 2113123 24-Oct-2018 09:44
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elpenguino:

 

SirHumphreyAppleby:

 

I've yet to see a debit card which rewards me for spending my own money. A credit card lets me accumulate interest until the bill is due and get ~1% cash back on top.

 

 

Problem is merchants raise their prices even more than 1% to accommodate all the fees they have to pay to...... the credit card companies, so overall you're paying more for everything.

 

 

Yes, but you might as well get back what you can.

 

I use EFTPOS where I get cash discounts, otherwise, everything goes on the card. I was disappointed Hyundai would only let me put $3000 of the cost of a new car on the card though.

 

 

 

elpenguino:

 

ObidiahSlope:

 

About banks being weird about issuing credit cards. I was told by someone who used to work in a bank about an couple he was dealing with who wanted a credit card. He feed all the required application information into the machine and got back a "computer says no" message.

 

This was nuts because the couple had been customers of the bank for decades without any problems and had several million dollars on fixed deposit. He asked the branch manager to overrule the decision but the manager refused.

 

 

If I was that couple and really wanted a credit card I would be voting with my feet and taking my money with me.

 

 

 

 

That's actually what I was doing. I had intended to move almost everything over to BNZ from ASB, because ASB are slashing services and cutting costs, and I've had enough of it. BNZ chose to make things difficult, so they will miss out. Also, the experience hasn't been as hassle-free as they claim for other reasons further outside the scope of this discussion.


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  Reply # 2114002 25-Oct-2018 18:12
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That's normal. Mine is 100% perfect and I get more or less your score.

 

They do some graph type arrangement.

 

More to the point is the list, Judgements, late fees, bankruptcies and the like....which mine all say 0000000000


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  Reply # 2114024 25-Oct-2018 19:18
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I don't see your issue.

 

1. Anything over 600 is "credit worthy"

 

See: Your credit score: Are you a unicorn, a thoroughbred, or donkey?

 

2. The credit scoring system is heavily flawed because it includes assumptions about where you live and other demographics. I had a look at my Credit Simple profile before writing this and I see I have lost 13 points this month. For no reason whatsoever. But activity in local Facebook B&S groups indicates this area is likely suffering increased housing/financial pressures among low income folk who are renters. Nothing to do with me tho'.

 

 


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  Reply # 2119942 5-Nov-2018 09:42
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My credit score has dropped from 800 to 788 but nothing has changed, Well I have more money in the bank

 

Makes no sense to me

 

John





Ex JohnR VodafoneNZ 17 years 4 days

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  Reply # 2119955 5-Nov-2018 09:49
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Linux:

 

My credit score has dropped from 800 to 788 but nothing has changed, Well I have more money in the bank

 

Makes no sense to me

 

John

 

 

Within 100 points credit scores don't make sense.

 

Mine dropped by about the same in the last month as well. Also no reason.

 

It's probably dropped even further now due to changing from prepaid to Vodafone on account. It will bounce back in a couple of months or thereabouts, but said change has no impact on actual credit worthiness.


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  Reply # 2120119 5-Nov-2018 12:21
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The scoring system also incentivises lock-in with your power, phone etc. providers as simply the act of shopping around negatively effects your credit score.


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  Reply # 2124680 13-Nov-2018 12:16
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I am a beneficiary living week to week paying rent, power, phone, food and was given a credit card, so I don't know how they worked that out?  This month my score went from 788 to 802 and I'm not sure why since I only found out today that Slingshot/Callplus no longer supply info to Equifax.  I had been trying to find this out since April 2018.

 


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  Reply # 2124726 13-Nov-2018 13:31
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I don't want to know what mine is.... It must be OK though because my banks keep sending me offers to increase credit limits/loans/mortgage. Not gunna happen!

 

 

 

I only got my first credit card 6 years ago because of a hotel I wanted to stay at. 


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