by rannii  23/10/2019  0 Page Views
0 Comments  Discuss legal issues that are of a general nature


6 months ago,  I approached a bank to see whether they were able to take over my banking needs.  I was quiet specific in including,  home loan,  credit card facility & range of bank accounts.


I got the green light.  The process was not smooth at all.  Many delays on their end.


I was advised that my credit card application would be done on the back of my Home Loan & specifically advised that a second credit check would not be required.


My home loan was finalised  ( was required to pay hefty break fees from Bank1).   Credit card application forgotten about,  but subsequently submitted once i queried.   THe CC is underwritten by another financial institution.  They have denied my CC application.   I am wanting to close my current credit card with Bank1,  and move it to Bank2,  where all my banking is.


Gone through the internal complaints system with bank2,  and advised "too bad".  Tried to get an understanding from underwriter as to why my application was refused & advised that apra regulations will not allow them to.  


Im accross my Credit Score on 3 services.  All were excellent,  until underwriter submitted the secondary check,  which bought it down to "good".  My CC balance never exceeds the 30% of the total limit & always paid of 100%.  No other loans that mortgage.


Notice that some of my info on the Credit report is incorrect.  So contacted the company to rectify & they way it is fixed is that it is updated with a credit check application is submitted.   So seems that infromation was not provided correctly on the application.


Have requested a copy of the application & supporting doucments which were submitted on my behalf so i can verify the information is correct.   I have received a parcel of files,  which are incripted with a password - but they are unable to supply me with the password.


Bank2,  are unable to assist with the information,  as due to Privacy, they cannot.


I'm very agrieved as I am now in a position where i am financially incurring penalities due to the 2 banking profiles,  that had a known I would not have switch facilities.  I feel that my business has been obtained by deception.    I will need to incurred huge break fees to leave bank 2,  and based on the play around on my current credit file,  have limited chances of refinancing anywhere.


I am also extremely annoyed that for 3 months ive been asking for the application submitted on my behalf & I am unable to be provided with this.


What is my position here?   Is there anything that can be done to place me in the position prior to switching?  My switching was conditional of them taking on ALL my banking.