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Location:
Brisbane
Registered:
July 2002
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 F*** BANKS!!!!!
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Thu, 09 October 2003 06:15
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howdy
Im gonna go on ranting and raving 1st and then i will ask some proper questions at the end, cooL? good, i knew would say that! 
I applied for a loan with Bank of Queensland yesterday for the ammount of $5500 dollars over the length of 5 yrs only to learn today that it has been declined with no good reason. Banks today are so bloody hopeless and out of control that its like impossible to get a loan!
The monthly repayments are 120-130 a month(in there somewhere) and I
Save roughly double that after expenses A WEEK, I showed this, told them this and yet I got declined.
I know being 18 and with no credit rating(other than being declined for a loan a while ago) that things arent going my way to begin with, but i showed I have a steady job providing atleast 35 hrs a week, showed my savings(only were 1700 at this point in time cause about a month ago i spent the rest on my car). I showed them receipts and everything aswell as stating having 15 000 in assets atleast.
Im just wondering what the hell is wrong with banks, how is anyone expected to get a loan at all?, Especially your 1st one when you don't a credit rating!.
Does anyone know any decent banks/credit unions that arent completely hopless, I need this loan for my conversion that is already planned and ready to start but its a bit hard without the money to do it!.
Thanks for listenning to ramble, no doubt there is heaps of gramma and punctuation errors... but its a ramble so
GRRRR at banks 
- Johal
[Updated on: Thu, 09 October 2003 06:16]
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Location:
Brisbane, QLD
Registered:
February 2003
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 06:19
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whats your job situation?
casual, part time, full time?
this can have bearing
if you're still considereing a casual then there is bugger all hope
if you have no luck you could always get a credit card and treat it like a loan(not sure on what your limit would be though)
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 06:21
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Im permanent/part time.. sittin comfortably on "pretty much" guaranteed 35 hrs a week.. i could get a letter from the GM where i work stating that too.
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Location:
Brisbane, QLD
Registered:
February 2003
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 06:48
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how long you been there?
i remember when i went for a loan(i was perm part time earning about 25000 a year) but was only there for 4 months i got rejected on $4000
where as my mate who's been perm part time for 18 months at the bakery he works at got $8000 loan VERY easily
he gets about $350 a week
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 06:58
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ive been there 1 yr and 10 months....
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Location:
Brisvegas
Registered:
June 2003
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 07:10
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When you apply for a loan the creditor will check with the credit reporting agency (CRA) to obtain info about your credit file. If you've never had credit before then they usually base you application on an income/expenses statement. As long as you can afford to pay say at least 2 pmnts a month there shouldnt be a problem getting the loan. I went for one with BOQ for 6k and got it without having any prior credit history...apart from mobile phone. I only earn about 30k yr. 6k in assests at the time & was approved that day 
How many loans have you appplied for? Creditors can knock you back if there's been too many "inquiries" on your CRA....give CRA a call yourself and find out whats holding you back 0294646000 (public enquiry line)
Be very very careful getting a credit card in place of a personal loan. Lots more ways to get sucked into a large debt you find you cant pay off, more fees etc.
I agree, banks sucks...make sure you read your fine print
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Location:
Perth
Registered:
May 2003
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 07:38
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I got a $10,000 loan piece of piss from westpac, bankwest was a nogo same as commenwealth + ANZ.
i said i had $10,000 assests
i was 18 and on $20,000 a year fulltime i had been there for 8 months they loved it.
they are supposedly the easiest bank to get a loan with (in wa)
but thats only from word of mouth
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I supported Toymods
Banned User
Location:
Brisbane
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 08:12
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Go to a finance broker and tell them you want a loan through bank of queensland! Simple as that! A finace broker will get anyone a loan!
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Location:
Brisbane, QLD, Australia
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 09:33
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Get your old man or someone to go guarantor.
And yea, as you now know, it's good to build a credit rating.
Do one of those interest free deal things from harvey norman's and pay it off before the time is due. The extra benefit for that is they'll do the deal for you again no questions asked next time if you are a good repayer.
Or even things like special payment deals for RIMS for your car.
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Location:
Adelaide
Registered:
September 2003
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 09:36
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I heartily agree.
However. all I can say id thank god for and engineering degree, full time permanent employment, paid overtime, and a top salary to boot. Salary has risen 25% since I joined GMH as a Senior Manufacturing Engineer, and whilst I pay a shit load of tax ($27k last year alone ) at least it means I'm earning heaps to pay for my car stuff 
Keep trying and even try a Credit Union. They are usually a lot more helpful
Good luck
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I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 09:43
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I agree. I already told you about my credit union story - they're usually a lot more understanding. more customer oriented than banks. That said, they still looks at credit history etc. as my dad told me tonight (ex credit union ceo), your disposable income doesn't affect your chances too much - they're usually a lot more interested in total income, which is prolly why you got denied
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Registered:
August 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 10:24
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Did you say u paid for board or living with parents for free?
yet to be confirmed rumours is that livng at home and paying board shows that the individual in question is more responisble and understands money management. Thus, more likely to repay the loan.
Oh and im sure disposable income as a % of total income, and total income will all be used as factors in working out how much you are good for.
Based on your same situation i was only able to get a $1000 credit card limit, but i took it, havent paid a cent of interest and have used it wisely
Its all about having a mobile phone on a contract, everyone who raves about prepaid dont get the credit rating advantages that you achieve with a mobile on a plan.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 13:38
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IVe now applied for loans through 4 places
1. Commonwealth
2. suncorp(my actual bank)
The 1st 2 were fair knock backs.. i didnt deserve the loan
3.Bank of queensland, just saod i didnt get it and didnt explain why("didnt meet criteria")
4. westpac over the phone, im nto sure if it was an actual application or not but he entered it into the computer.. hit confirm and it said "no" straight away.
So today I tried with heritage and I wont know till tomorrow or monday, im guessing ill just get knocked back again.. which basically screws me.
I "can" get a guarantor but thats the very very last resort for me, id rather not use one.
The 1 thought i have had about reasons i got knocked back is that the account that my money goes into isnt mainly in my name, Its my step dads(cause i got te account when i was like 14) but im listed on all the statements and everything and they know i use the account at my bank. Would that be it at all?
Thanks
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Location:
Brisbane
Registered:
July 2002
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I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 14:08
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"not mainly in my name"
what does that mean?
does that mean it's a join account, or it's his account and you have access privelleges?
whose name is on the statement?
and dude - if you get knocked back this fourth time, I would *definitly* go to a broker, 'cause the banks will NOT like you if they see youve been knocked back 4 times already
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 14:12
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It means its originally his account.. im a beneficiary(spelling?)
Both our name are on the statement
"Chris T Garvey
ATA Johal Allistar Gow"
will brokers only cost once they get u the loan?.. or even to try?
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I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Thu, 09 October 2003 14:21
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dunno - call them up and find out
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Fri, 10 October 2003 00:33
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I rang that CRA and theyw ere useless(for security reasons). had 1 of 2 options.. pay 23 bucks and get it faxed to me within 1 working day or ask for a free one and wait 3 weeks.. they couldnt/wouldnt tell me anything over phone
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Location:
Brisvegas
Registered:
June 2003
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Location:
sunny coast, qld
Registered:
October 2002
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Re: F*** BANKS!!!!!
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Fri, 10 October 2003 02:53
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just get a gaurantor or get a joint loan with your parents and you pay it. If you can afford it which you say you can, then there will be no probs. That is what i did when i was 18.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Fri, 10 October 2003 13:24
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Ok so ive been knocked back 4 times.. if i apply with a guarantor(which is a millionaire) do you think ill get it or will they just look at the 4 knock backs and go "fuck you"?
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Location:
Perth
Registered:
August 2002
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Re: F*** BANKS!!!!!
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Sat, 18 October 2003 22:02
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I borrowed 10k after only working for 1.5months because my old man went Guarantor. Then a few months later they lent me another 130k
I don't know why you'd get knocked back with a guarantor, because if you don't pay up the bank takes your guarantor's shit and get's their money back that way (plus they add on extra fees because they love taking your money).
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Location:
Brisbane
Registered:
June 2002
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Re: F*** BANKS!!!!!
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Sun, 19 October 2003 02:30
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130k 
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Location:
Adelaide
Registered:
June 2003
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Re: F*** BANKS!!!!!
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Sun, 19 October 2003 03:26
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when i went for a loan for my car i wanted ten thousand, they approved it and asked if i wanted to borrow 25 thousand instead, im like errr no thanks.
that was with bank SA, an unsecured personal loan, oh yeah and i was 19 at the time. (last year)
however i had to give them my tax certificate to show them how much i was earning for like the past 3 years.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Sun, 19 October 2003 10:50
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well i have to wait 3 months now  .. get my avg wage up.. its shit
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Location:
Canberra
Registered:
December 2002
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Re: F*** BANKS!!!!!
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Sun, 19 October 2003 23:48
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What are the reason that you are putting down on your application for the money? This can have a huge bearing on weather they will give you money.
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Location:
Sydney
Registered:
June 2003
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 00:19
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I must of applied to about 20 different people before I got mine approved. All I can say is hang in there.
And also it pays to wait a little while and go back. At the beginning of the year I applied to the CBA for $10k. They said no. In Aug I applied to the CBA for $13k they said yes straight away. Situation hadnt changed or anything. So just hang in there mate.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 01:31
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"car restoration".. but this is just getting fucking ridiculous.. I applied for one of those interest free things on some rims .... DECLINED!
Applied for a mobile plan in my name.... DECLINED!
I save 1100 bucks a month yet i cant afford 55?
Im seriously thinking about taking a shotgun to some people.. how is anyone meant to get a break and not fuck their credit rating???
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I supported Toymods
Location:
Perth
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 03:45
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If you can't get a mobile phone in your name, someone must've put something nasty on your credit record. I'm only 19 and there was never any issue with that.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 03:49
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nothing on my credit rating bar applying for credit.. i know that for sure...
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I supported Toymods
Location:
Perth
Registered:
May 2002
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 03:53
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Just seems odd they wouldn't give you a mobile plan in your name...
I think you should try applying with a guarantor. They'll see the knock backs but it won't be as much of a problem as they'll see more security. You won't be just applying over and over with the same circumstances.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Mon, 20 October 2003 04:17
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Im waiting 3 months now for my credit rating to clear a bit.. gonna save the whole time.. ill have 5 grand on me and im gonna get 8 grand on loan aswell
the jzz10 soarer will have to wait 3 months
really annoyed but theres not much i can do.
Im still gonna try without guarantor
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Location:
Perth
Registered:
August 2003
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Re: F*** BANKS!!!!!
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Tue, 21 October 2003 20:36
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banks suck i say
I've never got a loan cause banks screw you any way they can...
don't buy something until you have the money
I don't think i'll ever get a lone
19 with a house, car and phone 
what more do you need
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Location:
Sydney
Registered:
June 2003
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Re: F*** BANKS!!!!!
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Tue, 21 October 2003 23:35
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| justcallmefrank wrote on Mon, 20 October 2003 13:53 |
Just seems odd they wouldn't give you a mobile plan in your name...
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It does seem weird but a friend had the same sort of thing happen to him. He already had a mobile plan, been on it for about 2 years. No credit history or anything. That was with Telstra. He applied for a plan with Optus and they rejected him. It's almost as if you are in a lottery.
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Location:
Brisbane
Registered:
July 2002
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Re: F*** BANKS!!!!!
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Wed, 22 October 2003 01:09
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haha.. yeah i just bought my rims outright.. but no credit rating cause of it
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