I'd like to point out that you have implied causation between Afterpay and a possible loan rejection, I don't think that is accurate or true.
Credit assessors will look at your capacity to service your current debts and the future debt you are applying for. They then apply a "stress test" based on your credit cards being maxed at a higher rate, as well as your mortgage being assessed at a higher rate (in the case of rising interest rates). If you don't have capacity to service these debts under the stress scenario, you are denied on your application.
There is only two ways to improve your serviceability under stress, either have more income, or have less debt. In your case, I'd speculate that Afterpay was seen as a liability, ie it demands some of your Income, as such this is less income available to service other debt.
In essence it would be exactly the same as having say a credit card with a $5k limit. The truth is, you simply have substituted one credit facility for another, your real issue was serviceability under stress. Not Afterpay in and of itself.
That's why the articles and other like it are completing misleading.
APT Price at posting:
$29.77 Sentiment: Buy Disclosure: Held
