Fnb-Credit Card Application Declined

copacetic said:
I wanted an FNB card so I could earn some Ebucks, but had no credit record at all. So, as others have advised here, I opened an Edgar's Account and applied for the card a couple of months later, which I got without issue.

However, it's not a fundamental human right that you get a card (obviously), and it's also not a conspiracy if you don't get one. It sucks, but so does much of life.

Also, as others have pointed out, be very sure you are not going to get sucked into using it for actual credit, outside of emergencies.
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My bro got the card without a debit cheque lol they said must email then explaining the situation and will see how they can assist let's hope my luck changed
 
Bilal_H687 said:
My bro got the card without a debit cheque lol they said must email then explaining the situation and will see how they can assist let's hope my luck changed
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I have absolutely no idea what you are talking about, but best of luck to you either way.
 
Bilal_H687 said:
Banks should be able to take the risk,I actually feel the system is corrupt people who don't deserve it get in but people who do deserve it don't get in
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So why do you think you deserve it?

The bank clearly thinks that you don't...and with good reason.
 
Your risk profile is too high for the bank. You could try apply for a Virgin Money credit card, otherwise if you feel you must have a credit card, why not get a supplementary card off one of your parents credit card accounts.
 
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UrBaN963 said:
Such as the average 18 year old who just started working and sees a gold mine in resources?
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Are you the dad or mom of the average 18 year old? If not, who the **** cares. Let them do what they want to do.
Let them learn those life lessons early.
 
whatwhat said:
Are you the dad or mom of the average 18 year old? If not, who the **** cares. Let them do what they want to do.
Let them learn those life lessons early.
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Just because the child isn't mine does not mean I shouldn't look out for them. I'm not that selfish.
 
Bilal_H687 said:
Lol I'm pretty sure people know the value plus they have a ID easy to get blacklisted if I'm not mistaken it's 46 extra a month
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46 extra per month can be quite a bit of money if you're not making a big salary. Think carefully here - why pay for something that you may or may not need?

Bilal_H687 said:
Banks should be able to take the risk,I actually feel the system is corrupt people who don't deserve it get in but people who do deserve it don't get in
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Mike Hoxbig said:
Why should they have to take the risk? It's their money, they don't have to do anything they don't want to...
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There are two factors to consider here.
1. Banks can take the risk if they want to, but it's not always in their financial interests to do so. They base your risk profile off of the data that they have on you - you get a salary paid in, so they know how much you earn. They also contact credit unions to check whether or not you have a history of paying what you owe. If you don't have a history, then they are well within their rights to assume that you may not pay back what you owe.
2. Even if they wanted to loan you money at obscenely large rates, there are legal requirements that they cannot lend money irresponsibly. Not adhering to these laws would spell major problems for banks.

Bilal_H687 said:
I do understand,what I'm saying is Every One that gets accepted isn't worthy of it
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This may be true - the bank can't predict the future, so there may be outlying cases where they may lend money to someone who doesn't end up paying them back. But they apply whatever statistics that their actuaries work out a priori in order to be able to mitigate this risk.

A lot of people tell you to get clothing accounts, Edgars is the one that comes to mind first. I advise against this, it's a pain, and I can't stand Edgars accounts department, though since they've farmed this out to ABSA I don't know if they're different to deal with. It's been several years since I've tried this.

Other things that will reflect well on your credit score are a phone contract or Telkom account that's in your name. Try a small top-up contract for a few months perhaps, though you may also have to undergo credit checks on signing up. If you insure your car in your own name as well this will also help, as insurers don't do credit checks, but they do inform the credit bureaus that you pay your bills on time. This will help you.

I got a Gold credit card from FNB first time (several years ago) despite never having had a clothing account. I was earning about ~270k per annum at the time, so I could afford to pay it back, I paid my Telkom / City of Cape Town / Outsurance on time, and that was enough. I'm now on Premier and my credit limit has increased substantially, but I only ever use about 1/3 of it for eBucks purposes and settle the entire amount as soon as it's due.

Edit: it may be worthwhile to check your credit history as it's officially reflected. Supersunbird put together a nice guide here:
https://mybroadband.co.za/vb/showthread.php/723946-Personal-Credit-Check?p=15834692#post15834692
 
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backstreetboy said:
My VMCC is still free with only a R150 delivery charge once off.
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Yeah, the VMCC* is a good option if you really need a credit card. I personally get more mileage out of my FNB Premier one, but honestly if I wasn't in the eBucks game it wouldn't be worth it.

Also I don't much like Richard Branson. I don't have any issue with this particular Virgin product though.

*Virgin Money Credit Card, in case the acronym wasn't clear to anyone.
 
silkenphoenixx said:
This may be true - the bank can't predict the future, so there may be outlying cases where they may lend money to someone who doesn't end up paying them back. But they apply whatever statistics that their actuaries work out a priori in order to be able to mitigate this risk.
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In insurance companies its "actuaries" in banks its "quants" (quantitative analysts). But there is a bit of overlap. Most actuaries are quants but not all quants are actuaries.
 
Bilal_H687 said:
Working for a year now lol
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Go open an Edgars account.
Buy something, and pay it off in a few months, don't skip payments and don't pay after the due date.
Then try open a credit card where the criteria are a little less harsh - I recommend Virgin Money as there are no fees.
Use the credit card for 3 or so months - you can settle the entire balance each month.
Then you've built up a bit of a credit bureau profile and can apply again for your FNB Credit Card.
Keep the Virgin Money credit card for back up in extreme emergencies.
 
Jehosefat said:
In insurance companies its "actuaries" in banks its "quants" (quantitative analysts). But there is a bit of overlap. Most actuaries are quants but not all quants are actuaries.
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Thanks for the correction!

eehellfire said:
Go open an Edgars account.
Buy something, and pay it off in a few months, don't skip payments and don't pay after the due date.
Then try open a credit card where the criteria are a little less harsh - I recommend Virgin Money as there are no fees.
Use the credit card for 3 or so months - you can settle the entire balance each month.
Then you've built up a bit of a credit bureau profile and can apply again for your FNB Credit Card.
Keep the Virgin Money credit card for back up in extreme emergencies.
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Would NOT recommend Edgars unless you actually need something from them. They're a big pain.

The Virgin Money option is a good one though. Much less hassle.
 
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