Why do Macquarie bank consistently decline applications for credit cards?

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I’ve been collecting points for nearly two years now, and most cards I have been approved for with no problem. However whenever I apply for any card issued through Macquarie bank I am always automatically declined. Any one got ideas on what may be happening here?

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Good Response
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Macquarie, anecdotally, do have strict approval criteria for some reason. Many people have commented on this over the last few years, and I don’t have any insights as to why this is – just that I doubt you are alone in being declined without understanding why (myself included).

  • Thanks Keith, while not a good thing, I’m glad to know it seems to be happening to a few people on here

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It suggests that macquarie has stricter criteria but no card provider will tell you precisely .  have you checked your credit record ? it may be impacted but lots of card applications in a short period of time .

Lastly, each application successful or not goes to your credit record. if you have been declined 2 or more from Macquarie , I suggest you stop applying with them

 

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Lucky escape, if you ask me.   Have had multiple bad experiences with them over the years. (Not just card declines)

  • Cheers Andy, I have read a few bad reviews on Macquarie so I’ll happily accept your warning!

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Hi Guys

Thanks for your responses.

I do regularly check both my credit score and credit report, and of course both reflect the large number sign up bonuses I have received.

I realise lenders won’t disclose information about their criteria, and even though unlikely, was hoping someone may have some detailed information on why the particular bank in question would decline after success with most other major lenders.

Thanks for your time

 

Tom

  • Hi Tom,
    Have you checked what other cards Macquarie underwrite? If you’ve applied and successfully been provided with a CC from another institution, but Macquaire underwrite that card/institution, then that may be impacting on whether your application with them is successful. (eg: I think Citibank underwrite Virgin CC).
    Cheers,
    Wally

  • Hi Wally

    I have applied for Macquarie issued cards and Macquarie underwritten cards such as the Jetstar and Woolworths cards and to date these are the only ones I’ve ever been declined for. Strange as I’ve always applied for other bank issued cards at the same time with no problems. While only a minor set back on my points collecting adventure, it still has been frustrating nonetheless.

    Cheers
    Tom

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Hi Tom,

Since you have mentioned plenty of sign up bonuses, I would suggest checking your credit score if you haven’t already been doing it.

creditsavvy.com.au (Experian)

getcreditscore.com.au (Veda-more popular)

Some credit providers have stricter criteria too and you won’t get a reason if you ask them why they decline you.

Good luck

  • Please refrain from modifying my questions. It takes away from the professional and open nature of this forum.

  • Hi Tom – in order to keep some questions published on the site we do need to edit them a little to avoid giving personal financial advice, that kind of thing. It’s either that or we have to delete them altogether, and I’d rather edit, keep the question on the site and the general nature of the question intact than having to remove. Thanks for understanding.

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