Having a unused unsecured credit ( im going to presume a personal loan ) is not preferred and will depending on the LVR + how much genuine savings you have.
Auto approve by computer= Just means the file has now an opportunity to go through to the "credit assessors" doesn't mean it's 100% unconditionally approved. The computers credit scoring and veda credit score is only to combe the "bad and good files" before they spend their resources and time on the file. ( There' a big difference btw CREDIT file/vedascore approval and full LOAN approval)
They will ask questions about your unsecured loans ( im guess it's a personal loan?) but at least this gives you an opportunity to "explain" your unused debt and your situation as most likely your file will be conditionally approved.
Most borrowers who are rejected just wants an opportunity to explain their story, and this is what conditional auto approvals allow you to do.
there's 3 level of computer approvals,
1. Auto approved/conditional approval= as above and file is normally given to a staff members who just "ticks" the box of each conditions and sends it off for approval.
2. Referred or manually referred = As above, but the file is assessed more thoroughly and with a more senior credit assessor
3. Declined- No opportunity to explain, and even if you get this overturned it will go into Referred or manually referred which is also a pain in the ***.
Cheers
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