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Declined credit card application

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movingtospore
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Post by movingtospore » Fri, 17 Aug 2012 1:06 pm

Welcome to SP. :D When dealing with banks and government departments here...remember....the first answer is almost always cannot-lah. If you go in person and fight back you can usually make progress.

HSBC has nearly driven me to madness here...

Steve1960
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Post by Steve1960 » Fri, 12 Oct 2012 12:37 pm

Quick update, not sure there are any conclusions to draw from this other than the Banks have different acceptance criteria and they don't want to tell us what they are! I really wanted two credit cards one for personal and one for business so decided to make a few more applications:

OCBC delined
CitiBank approved 16k credit limit
DBS / POSB (combined 2 card application) declined
American Express (credit card not charge card) approved 10k credit limit
Dinners Club (credit card not charge card) approved 12k credt limit

Go figure :???:

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ecureilx
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Post by ecureilx » Fri, 12 Oct 2012 1:22 pm

Steve1960 wrote:Quick update, not sure there are any conclusions to draw from this other than the Banks have different acceptance criteria and they don't want to tell us what they are! I really wanted two credit cards one for personal and one for business so decided to make a few more applications:

OCBC delined
CitiBank approved 16k credit limit
DBS / POSB (combined 2 card application) declined
American Express (credit card not charge card) approved 10k credit limit
Dinners Club (credit card not charge card) approved 12k credt limit

Go figure :???:
Wait for six months and apply to Stanchart and DBS - 90% they will approve it .. :D

Ensure you highlight your current cards in the application form

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Post by Steve1960 » Fri, 12 Oct 2012 2:27 pm

Thanks for the advice. Six months is up on 20th October. Where did that time go! Seems like we only just arrived here.

Segue
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Post by Segue » Fri, 12 Oct 2012 3:11 pm

I talked to someone in the credit card business and he told me that if you have an AMEX card in your home country, they can look at your home country credit rating and will make their decision based on that. So if you already have had an AMEX card in good standing, you are likely to be accepted.

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Post by Steve1960 » Fri, 12 Oct 2012 3:28 pm

Segue wrote:I talked to someone in the credit card business and he told me that if you have an AMEX card in your home country, they can look at your home country credit rating and will make their decision based on that. So if you already have had an AMEX card in good standing, you are likely to be accepted.
That may well be true but in my case I did not previously have an AMEX charge card or credit card in the UK.

offshoreoildude
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Post by offshoreoildude » Sat, 13 Oct 2012 8:33 am

Blame people like my former tenants who returned to the subcontinent leaving at least 6 unpaid CC bills behind and obviously don't intend to pay them. SCB and Citi are in that mix.
Now I'm called PNGMK

revhappy
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Post by revhappy » Sat, 13 Oct 2012 10:20 am

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Last edited by revhappy on Sun, 14 Oct 2012 10:35 pm, edited 1 time in total.

offshoreoildude
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Post by offshoreoildude » Sat, 13 Oct 2012 10:41 pm

The ST today had a small article discussing how the Credit Bureau wants to be able to access foreigners overseas credit reports.... as banks have been demanding this.
Now I'm called PNGMK

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Mi Amigo
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Post by Mi Amigo » Sun, 14 Oct 2012 5:26 pm

offshoreoildude wrote:The ST today had a small article discussing how the Credit Bureau wants to be able to access foreigners overseas credit reports.... as banks have been demanding this.
Seems fair enough to me - if an applicant has nothing to hide, why would they be against credit checks in their previous location(s)? I dare say that some of the scumbags (like the previous tenant at our place) who do a runner from here leaving debts and unpaid bills probably have 'form' in other countries. Anything that can be done to prevent them exploiting the system here (and making things more difficult and expensive for the rest of us) is OK in my book.
Be careful what you wish for

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Post by offshoreoildude » Sun, 14 Oct 2012 6:52 pm

Mi Amigo wrote:
offshoreoildude wrote:The ST today had a small article discussing how the Credit Bureau wants to be able to access foreigners overseas credit reports.... as banks have been demanding this.
Seems fair enough to me - if an applicant has nothing to hide, why would they be against credit checks in their previous location(s)? I dare say that some of the scumbags (like the previous tenant at our place) who do a runner from here leaving debts and unpaid bills probably have 'form' in other countries. Anything that can be done to prevent them exploiting the system here (and making things more difficult and expensive for the rest of us) is OK in my book.
I agree. I'm surprised the banks don't ask FT to access the credit bureau in their previous locations and supply a copy of the report - probably because of the trouble of authenticating it.
Now I'm called PNGMK

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JR8
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Post by JR8 » Mon, 15 Oct 2012 3:13 am

offshoreoildude wrote: I'm surprised the banks don't ask FT to access the credit bureau in their previous locations and supply a copy of the report - probably because of the trouble of authenticating it.
Are SGns subject to credit profiling too?

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sundaymorningstaple
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Post by sundaymorningstaple » Mon, 15 Oct 2012 6:38 am

Yes
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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JR8
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Post by JR8 » Mon, 15 Oct 2012 6:46 am

I was going to say that in that case I'm surprised.

But presumably the overall profit margin on expats is high enough that the banks can comfortably swallow the bad debtors... ?

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ecureilx
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Post by ecureilx » Mon, 15 Oct 2012 8:36 am

JR8 wrote:I was going to say that in that case I'm surprised.

But presumably the overall profit margin on expats is high enough that the banks can comfortably swallow the bad debtors... ?

+1 !!!!!!!

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