Store finance - australia

Hello, just another quick question for you Australian biggies.

I've applied a couple of times now for store credit finance deals. Just because after 6 months of no work i've now had to semi furnish our new flat, so thought i would take advantage of the No Payments No Interest until 2013 deals that are floating around.

So far i tried Harvey Norman and Super-A-Mart. Both got rejected.

Has any of you had any luck with these?

I earn more than enough to be approved (assuming that anyone on say over... 70k earns enough). I lied about the length of time i've been in the country, job & apartment - for both of these i said 3 years (but there's no way they could have checked this in the 20 seconds it took for the online application form to decline me). I've tried saying that i have no other credit cards and telling the truth which is i have one other. My Rent is $290 a week and expenses aren't very much at all.

I'm thinking maybe the one thing that is stopping me from being accepted is that i don't have a drivers license? that's the only thing i can think of. But then why not simply state "only residents with australian drivers license need apply" ??

Any ideas?

Not sure to be honest dude, I applied for a CC a week after I got here and it was approved.

I had something very weird happen with GE finance however. To build up a credit history we thought it would be good to buy our fridge on like 6 months interest free. So I applied for 2K finance online, and within seconds got a email saying that due to some criteria I was declined. About a week later I had a letter from GE asking me to confirm who I was and then they would send me my GE card. I was surprised and even more surprised when I called GE and they were not able to tell me why I recieved the declined letter via email.

O well it all worked out in the end. Maybe try GE online before you go into the store?

Maybe Yaksha can shed some light on this, I know he works or use to work for these sharks!

Yeah i also got a credit card a couple of weeks after i got here.

But i tried GE online as thats who Harvey Norman use, and was declined.

It's actually really annoying because i can easily afford it, and was planning on paying it off in full after a month or two, instead of waiting until 2013 which is what is on offer. Idiots.

Do you have a australian drivers license? or did you use your NZ drivers license number?

To buy a car you need a Aussie license so I got one. All the info I used is Aussie related, nothing pretty much stated that I was from NZ. heh

Will send you PM late tonight davil

Make sure you stay up.

Thanks Yak!

And yeah, credit in Aussie seems a lot harder to get than in NZ or the UK.

my nephew was telling me that Oz banks need really high deposits on home loans too (as from soon I think)

On housing it depends on where you want to buy. You can walk into a kit house thats 50km from the city with a $1500 deposit $250K house and next to no other savings. Buying closer to town, high prices and yes the bank want bigger 10% + deposits.

I wouldn't give you finance either Davil

Yeah, and when you're buying a $400K house with your 10% $40K deposit...you get slammed with Stamp Duty and realise you actually don't have 10% because that gets added on to the pre-approval price...plus anything less than 20% gets charged Mrtgage Lenders Protection Insurance...insurace for the bank in case you default, but you pay it, not them...so rank...ours was over $8K!!!

As for Hire Purchase finance, makes no sense to me that you've got a credit card but can't get HP finance...very odd

Did you not check why you had been declined at the time? Credit companies will tell you why if you ask.

They said it was just a general decline. No reason in particular

Oh wonderful, thank you for calling!

Credit companies will tell you, but if it's just some retailer who's checking your credit through some finance company's system, they know as much as you do. General decline = "computer says no".

Na it was GE who i was talking to

If you're planning to pay it off in a month or two, why not just credit card it? 55 days interest free on most cards, pay it back in 2 months and you cop fuck all interest