Credit Card Approval Guide
Key Approval Factors:
- Credit score requirements
- Income thresholds
- Employment stability
- Debt-to-income ratio
- Application timing
Premium Card Requirements
Financial Requirements
- Minimum income: $75,000+
- Good credit score
- Low debt ratio
- Clean credit history
Other Criteria
- NZ citizenship/residency
- Age 18+
- Stable employment
- Banking relationship
Improving Approval Chances
Credit Score Optimization
- Pay bills on time
- Keep credit utilization low
- Maintain old accounts
- Limit new applications
Income Documentation
- Recent payslips
- Tax returns
- Bank statements
- Investment income proof
Application Timing
Best Time to Apply
- Employment
- After 6+ months in current job
- Following salary increase
- Post-probation period
- Credit History
- After improving credit score
- 6+ months since last application
- When utilization is low
- Promotional Periods
- During sign-up bonus offers
- Annual fee waiver periods
- Special rate promotions
Required Documentation
Document Checklist
- Identification
- Passport or driver's license
- Proof of address
- Previous addresses (3 years)
- Financial Documents
- Last 3 months' payslips
- Recent bank statements
- Latest tax assessment
- Employment contract
- Additional Documents
- Self-employed financials
- Investment statements
- Rental income proof
- Business ownership documents
Common Rejection Reasons
Avoid These Issues
- Insufficient income
- Poor credit history
- High debt ratio
- Multiple recent applications
- Incomplete documentation
- Employment instability
Premium Card Types
| Card Type | Min Income | Annual Fee | Key Benefits |
|---|---|---|---|
| Platinum | $75,000 | $150-250 | Travel insurance, lounge access |
| Black/Elite | $150,000 | $400+ | Concierge, premium rewards |
| Business | $100,000 | $200-300 | Business perks, expense tools |
Application Strategy
Pre-Application Steps
- Check credit score
- Calculate total income
- Review eligibility criteria
- Gather documents
- Compare card options
During Application
- Complete all fields accurately
- Provide detailed information
- Include all income sources
- Double-check documentation
After Applying
Next Steps
- If Approved
- Review card terms
- Set up online banking
- Plan rewards strategy
- Understand benefits
- If Declined
- Request reason for decline
- Address issues
- Consider alternatives
- Wait before reapplying
Common Questions
What credit score do I need?
Premium cards typically require a credit score of 700+ for the best approval chances.
Can I include partner income?
Yes, household income can be included if you have joint finances or your partner is willing to be a guarantor.
How long does approval take?
Premium card applications typically take 5-10 business days for a decision, though some may be approved instantly.