What Is The Ge Money Nz(One Card Visa, Gem Visa) Lending Criteria?

applefreak | 08:17 Sat 13th Jul 2013 | Business & Finance

7 Answers

I have no bad credit history and excellent credit score. But my application get declined all the times. Same with my friends. Every time the lending team give a same stupid excuse to everyone. Lending Criteria Not Met. Daaaaaaa

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factor-fiction

Have you tried anywhere else? There doesn't seem much point in making repeated applications to the same lender

VHG

As this is their first post I wonder if we may see an "advert" for a lender appear soon?

boxtops

Is NZ, New Zealand? If so, I couldn't say - this is a UK site.

applefreak

Question Author

Yes it is from New Zealand. The reason I'm trying for this because they provide big limit card with 6 month interest free option.

spudqueen

But as has already been stated this site is based in the UK (hence the .co.uk bit of the website address), so to be honest I would imagine that you're betting off trying to find a New Zealand based website to ask this question on.

boxtops

That's what I meant, spudqueen - we do have a few members in Oz and NZ, but the majority of us are in the northern hemisphere. We wouldn't know.

Buenchico

There are two main reasons why people with good credit histories/scores get turned down (all over the world):

1. Too many existing cards:
For example, you might have several cards already, with not a single dollar owing on any of them, but with a total of (say) 20,000 NZD credit available. A potential new lender has no way of knowing whether or not you're going to 'max out' all of those existing cards the very next day after they give you a new card, so (to be on the safe side) they treat your application as if you've already got 20,000 NZD of debt.

2. Insufficient income:
It doesn't matter how good your credit score is, if you only earn 50,000 NZD a year, you're not going to get a million NZD of credit. (Remember that it's not the amount of credit that you're currently seeking that's important; it's the TOTAL credit available to you on ALL of your cards that matters, as above).

Chris

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