Cigna is giving customers advice on how to deal well with jobseekers who want to apply for a credit card.
The company’s job service has been providing advice since May 2018.
Customers who want help with their credit card application can contact Cignabank customer service on 1300 866 866.
“We understand there are many who may not feel confident applying for credit cards in Australia,” the job-seeking advice states.
“However, we are here to help you find answers and to make sure you are fully confident that you can get a credit account if you apply.”
The advice also advises not to accept a credit application if you have an invalid PAN number or a past debt.
Cignas job-search site includes a section on how you can be more confident.
It states that you should: “Never accept an application without an authentic PAN number, credit card statement or bank account number”.
“Make sure you know the details of your credit card and credit card history and whether you have been issued a credit or debit card.”
“Never ask for or accept a card without the cardholder’s consent.”
“Ask the customer service representative to help with the application.”
“Have the person write down any questions they may have that you might be unable to answer.
This will be important in the interview process.”
It also states that “if you’re going to apply, make sure your credit history and the type of credit you are using are correct, and that the information is complete”.
The advice for people with no previous credit history is: “Don’t give up.
This is not an easy job to be in.
Be persistent and always be honest with yourself and your colleagues.”
It recommends “looking for other options if you don’t have any credit history”.
The company also advises people who have no credit history to “look for alternatives”.
“When looking for a bank or credit card, always read the fine print on the card.
It may say that you must pay the credit card balance each month.
“It’s always better to do this in person, rather than on the phone, because you are not getting a loan. “
“Ask your bank to send you a letter when you apply to make it easy to do so. “
If you need to borrow money, always have a small deposit on hand. “
Ask your bank to send you a letter when you apply to make it easy to do so.
If you need to borrow money, always have a small deposit on hand.
This can be up to $100 or $200.”
When applying for a loan, “look at the interest rate and make sure it’s affordable.”
“Look at the cost of your interest and take into account any costs associated with the loan such as fees, interest payments, and penalties if there are any,” the advice states, including “interest on overdrafts and fees.”
“If the interest is too high, consider refinancing.”
“Be careful with overdraft fees.
It’s best to pay off any debts before you can make a loan.”
The job-seeker advice also includes a list of “important steps” to take if you are unsure of whether you can access a credit line, such as: “Check if you’re eligible for a low-interest credit card before applying”.
“Check the terms and conditions of your card before you apply”.
“Look for a card with a lower annual fee.”
“Check that the card offers a low interest rate, or that it’s linked to a bank account.”
It states there is a “higher chance” of getting a credit statement if you use a credit cards that have lower annual fees.
If the card does not have a credit limit, it is “highly likely” you will have to repay the balance over time.
“Avoid overdrafting and credit cards with higher interest rates,” the information states.
For those with a low credit history, “be careful with credit card interest rates.
“Make your payments as soon as you can, but do not forget to contact your bank immediately to get the credit on your account. “
“You should always repay all your debt.””
You should always repay all your debt.”