Media Release

Rejected out of hand: 1.5 million Aussies knocked back for a credit card

        • 33% fear getting knocked back for personal credit
        • Finder app first in Australia to show chance of approval for a credit card
        • Three ways to improve your credit score

20 October 2020, Sydney, Australia – The fear of getting rejected for a credit card is real, according to Finder, Australia's most visited comparison site.

A nationally representative Finder survey of 7,130 adults found that 8% – equivalent to 1.5 million Australians – have been knocked back when applying for plastic.

Of those who have been denied, unsteady income (36%) is the top culprit, followed by having too much debt (22%) and having a bad credit score (21%).

Kate Browne, personal finance expert at Finder, said many Aussies need credit but fear being knocked back.

"With Christmas right around the corner, many Aussies are looking to credit to put presents under the tree and put 2020 behind them.

"A rejection could mean your credit score drops, and it could affect your chances of approval in the future as well as paying a higher interest rate for a loan," Browne said.

Finder found that 1 in 3 (33%) Australians fear they will get knocked back if they apply for personal credit.

The top reasons for this fear are concerns about not having enough money to be approved (59%), thinking they don't have savings (39%) and the fear they will be discriminated against because of their age (38%).

Nearly half of those who have been rejected for a personal credit product have been knocked back for a credit card.

The free Finder app now reveals a user's chance of approval for select credit cards.

The app will review a member's credit score reports, ask a few questions and show them a list of credit cards they are eligible for and their likelihood of approval.

Browne said this feature is not available on any other app in Australia.

"For the first time, Aussies can know their chances of being approved for a credit card before applying.

"This will save time, worry and, most importantly, protect them from a rejection that might impact their credit score," Browne said.

Have you been rejected for any of the following?
Credit card8%
Personal loan6%
Home loan4%
Car loan3%
Business loan3%
None of the above83%

Source: Finder survey of 7,130 Australians, October 2020

Three ways to improve your credit score

  • Repay your bills on time. Ensure that you make all your repayments on time. Even if there are high-risk listings that you cannot improve, your positive behaviour going forward will be looked upon favourably.
  • Avoid multiple credit inquiries. Multiple applications in a short span of time can have a negative effect on your credit score. This is why it is important to know your chance of approval before applying.
  • Monitor your credit. You should check your credit score regularly, which you can do for free with the Finder app. You should also keep an eye on your credit report to see new listings, repayments information or when listings are removed.


For further information


The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on's review pages for the current correct values.

About Finder

Every month 2.6 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by three Australians: Fred Schebesta, Frank Restuccia and Jeremy Cabral. Since launching in 2006, Finder has helped Aussies find what they need from 1,800+ brands across 100+ categories.

We continue to expand and launch around the globe, and now have offices in Australia, the United States, the United Kingdom, Canada, Poland and the Philippines. For further information visit

12.6 million average unique monthly audience (June- September 2019), Nielsen Digital Panel

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