ANZ helps Lauren reduce her credit card limit
Lauren decided to reduce her credit card limit however, did not receive any confirmation from ANZ about her attempt to change it. When Lauren tried to call them, she couldn’t get hold of anyone to help her. That’s when Lauren decided to use Ajust. In a short amount of time, Lauren’s issue was resolved.
Lowering Lauren’s credit limit
After years of saving and keeping a close eye on her finances, Lauren was finally ready to get a home loan! This was an exciting new step for Lauren, who was looking forward to buying her own place to live.
Before she could attend open homes or start picking out new furniture at IKEA, Lauren knew she had a couple of administrative tasks to take care of. The first thing on that list was reducing her credit limit. Now that she was ready for a home loan, Lauren needed to reassess her finances to accommodate a home loan. Lowering the minimum on her credit card was one of those things.
We didn’t want to snoop and get into the specifics of Lauren’s personal finances but generally speaking, it’s rather common for people to reduce their credit limit when it is time to apply for a home loan. This is because banks will look at your finances as a whole to see if you’re fit for the loan and reducing your credit limit can make a big difference.
Lauren was no different. She likely wanted to up her chances at getting her home loan approved, as well as improve her borrowing power. For this reason, she decided to change the amount on her credit card spending limit to something a bit lower than what she already had.
Many things can be changed by yourself via online banking, without the help of a bank representative. We imagine Lauren decided to log into her ANZ online account and make the necessary changes.
We’re picturing her reading up on any important information, such as her card limit, considering emergency expenses as well the benefits offered by her particular card. When she was sure this was the right move for her, Lauren went ahead with her new card limit. Once she completed the steps to reduce it, Lauren clicked submit and waited for everything to process.
Did it work? I can’t update my credit limit!
It was all done! At least, Lauren thought so. She didn’t receive a confirmation from ANZ straight away. This was odd, Lauren would have felt better if she received some kind of communication from them but she also knew these things can take a little while to go through. So, Lauren decided to wait patiently in the meantime.
Lauren gave it 48 hours, after which she checked back in to see if she had received any confirmation yet. To her surprise, Lauren still hadn’t heard from ANZ.
Just to be safe, Lauren went over everything again to make sure she had completed the process correctly. After double checking, Lauren could see that her credit limit hadn’t been changed and she received no communication from ANZ about her attempt to change it.
Not wanting to take any chances, she decided to call ANZ directly so she could speak to someone about this. After dialling ANZ’s customer service number, she followed the dial prompts to get a representative that could help her sort this out. However, Lauren mentioned to Ajust that every time she tried, she wouldn’t get far at all.
This was all understandably very frustrating for Lauren. She was in the midst of getting ready to apply for a home loan and she had a number of things to do. Taking the time out to be on the phone for what was supposed to be a simple task was delaying her unnecessarily. Lauren just wanted this figured out as soon as possible.
Lauren didn’t want to spend more time on the phone waiting, so she decided to use Ajust for her complaint. Opening up the Get Started page on her browser, she entered in the details about her complaint which allowed a report to be generated for Lauren. That report was then sent off to the right people at ANZ.
Increasing your credit limit often involves an application and approval from the bank. On the other hand, decreasing your credit limit is usually a much simpler process. It will depend entirely on the bank you are with but a lot of banks (such as ANZ) allow consumers to reduce their credit limit by logging into their online banking account and following the prompts. Keep in mind that every card has a minimum limit. If you want to go below this, then you might need to think about applying for a different card.
ANZ resolves Lauren’s credit limit issue
Once her complaint was sent out, it didn’t take long for Lauren’s credit limit to be updated and confirmed by ANZ.
Lauren mentioned to us how easy she found Ajust to use. One of the key factors we had in mind when designing Ajust was to ensure it was quick and easy for consumers, so they could go about their lives instead of spending hours, maybe even days dealing with a complaint.
“This platform was very easy, and followed up to make sure the problem was resolved”
We’re glad to hear things worked out well for Lauren and that ANZ acted efficiently in taking care of things from their end.
Sorting out our loans, credit details and other banking matters are generally made easier by online banking. With the convenience of banking online comes the occasional setback. If you’re like Lauren and you’ve had a delay caused by something that’s gone wrong online, then don’t hesitate to get in touch with your bank to let them know what’s happening.
In fact, we’ve compiled a guide on how to best go about a complaint with your bank, you can read it here. Alternatively, you can try using Ajust’s consumer complaint platform to resolve your complaint and we’d be happy to help.
Editor’s note: We’re always excited to share the experiences of consumers that have used Ajust. This Consumer Story is based on a real complaint made through our platform. But we’ve changed some details to protect the consumer's personal information and make the story more enjoyable for our readers.
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