Another one bites the dust

eskimo_undercov

Hello, 

Perhaps this will help someone else because it's too late for me. BOI may look into re-evaluating their procedures. 

I have an old, Advantage credit card with APR up to 26%. Wanted to switch to a newer product but my application was rejected because I spend too much every month and may not be able to afford a credit card... Let that sink in. I already have a credit card which I'm paying quadruple the minimum payment every month for the last decade. And steady income of 50K. True, I'm usually between 70-90% of the limit but I have never missed the payment. Anyway - application refused, I'm stuck with ancient card for which BOI get a hefty APR every month, milking me like there's no tomorrow.

Next I go to <another bank> and without a hassle get a 5K platinum card with half APR! Hmmm... Do they have different criteria? Don't think so - card requirements look pretty much the same. Probably the decision-maker in BOI simply had no clue.

Will be closing my BOI current account and credit card as soon as <another bank> complete the credit transfer. Farewell after 12 years. I will not be recommending.

Regards,
E

Bank of Ireland: Nicola

eskimo_undercov wrote: »

Hello, 

Perhaps this will help someone else because it's too late for me. BOI may look into re-evaluating their procedures. 

I have an old, Advantage credit card with APR up to 26%. Wanted to switch to a newer product but my application was rejected because I spend too much every month and may not be able to afford a credit card... Let that sink in. I already have a credit card which I'm paying quadruple the minimum payment every month for the last decade. And steady income of 50K. True, I'm usually between 70-90% of the limit but I have never missed the payment. Anyway - application refused, I'm stuck with ancient card for which BOI get a hefty APR every month, milking me like there's no tomorrow.

Next I go to <another bank> and without a hassle get a 5K platinum card with half APR! Hmmm... Do they have different criteria? Don't think so - card requirements look pretty much the same. Probably the decision-maker in BOI simply had no clue.

Will be closing my BOI current account and credit card as soon as <another bank> complete the credit transfer. Farewell after 12 years. I will not be recommending.

Regards,
E

Hi E, thanks for getting in touch. 

I’m sorry to hear that you're unhappy with the decision on your application and that you’re closing your accounts as a result of this.
 
We do have certain criteria when you apply for a credit card, a decision to approve an application would be based on these criteria and without knowing all of the details I wouldn’t be able to say why your application was declined.
 
Balance transfers can’t be made from existing Bank of Ireland credit cards onto a new Bank of Ireland credit card. If you’re unhappy with any aspect of our service you can make a complaint.

Please let me know if there is anything else that I can help you with here. 
 
Thanks
Nicola

eskimo_undercov

Balance transfers can't be made from existing Bank of Ireland credit cards onto a new Bank of Ireland credit card??? Whoa, another reason I'm happy my application was rejected then  


Thanks Nicola for your reply. Sorry you have to read my rants  


You see, I was told why was my application declined and it's just plain silly. So what that I spent most of what I earned in the last few months? Perhaps they should look at the reasoning behind spend? Plane tickets, hotels, medical expenses etc surely shouldn't be taken into account as a regular spending routine. And if something wasn't clear - why not ask me? I could have given you 6 months of payslips and statements instead of 3. Or 12 if that helped. But nobody asked. It's absolutely bizarre, in my humble opinion, that you wouldn't allow me to swap archaic product for a new one just because I spent a lot of money in a given period. I did because I needed and could afford it. I didn't even ask for credit increase. All I needed was a simple swap. Do you know what I mean? Give me a credit card with humane APR and take the old card away. Let me save a few quid. Bottom line - I already have a credit card with BOI. And with regular traffic and payments. With all the analysis tools, the applications team should've looked and said "hey, this guy pays way above minimum every month, doesn't use cash advances, pays on time, looking good". Instead I got the boot. Seems like a bit of incompetence perhaps? Not knowing a good customer from a bad one? I know what you and the readers may think - "he's probably drowning in debt and have bad spending patterns yada yada". That is not true. My only debt is the credit card. I actually requested credit report from ICR recently and my rating is top notch. And, as I mentioned, another bank didn't hesitate to give me more than I was asking for.


Anyway, of course I am unhappy but won't bother with the complaint as I want nothing from BOI anymore  I'm just throwing this as food for thought for the bank. I don't really count that big bosses will suddenly start reading boards.ie, but perhaps someone somewhere will get enlightened that the recession is quite over and possibly it's time to review a thing or two.

Bank of Ireland: Nicola

eskimo_undercov wrote: »

Balance transfers can't be made from existing Bank of Ireland credit cards onto a new Bank of Ireland credit card??? Whoa, another reason I'm happy my application was rejected then  


Thanks Nicola for your reply. Sorry you have to read my rants  


You see, I was told why was my application declined and it's just plain silly. So what that I spent most of what I earned in the last few months? Perhaps they should look at the reasoning behind spend? Plane tickets, hotels, medical expenses etc surely shouldn't be taken into account as a regular spending routine. And if something wasn't clear - why not ask me? I could have given you 6 months of payslips and statements instead of 3. Or 12 if that helped. But nobody asked. It's absolutely bizarre, in my humble opinion, that you wouldn't allow me to swap archaic product for a new one just because I spent a lot of money in a given period. I did because I needed and could afford it. I didn't even ask for credit increase. All I needed was a simple swap. Do you know what I mean? Give me a credit card with humane APR and take the old card away. Let me save a few quid. Bottom line - I already have a credit card with BOI. And with regular traffic and payments. With all the analysis tools, the applications team should've looked and said "hey, this guy pays way above minimum every month, doesn't use cash advances, pays on time, looking good". Instead I got the boot. Seems like a bit of incompetence perhaps? Not knowing a good customer from a bad one? I know what you and the readers may think - "he's probably drowning in debt and have bad spending patterns yada yada". That is not true. My only debt is the credit card. I actually requested credit report from ICR recently and my rating is top notch. And, as I mentioned, another bank didn't hesitate to give me more than I was asking for.


Anyway, of course I am unhappy but won't bother with the complaint as I want nothing from BOI anymore  I'm just throwing this as food for thought for the bank. I don't really count that big bosses will suddenly start reading boards.ie, but perhaps someone somewhere will get enlightened that the recession is quite over and possibly it's time to review a thing or two.

Thanks E, 

I'll certainly pass on your comments, management regularly read posts here too as it can be a source of valuable customer feedback.
 
Again sorry that you weren’t happy with the service this time, please let me know if there’s anything else that I can do for you.  
 
Thanks
Nicola