Random Discussion - NO POLITICS, NO RELIGION

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blueboy25 said:
I worked in a bank a number of years ago and yes they may question why you have had had so many applications for cards but the main thing they are looking for is no defaults.

If they do question it they may also ask for proof that the credit cards are closed and no longer in use.
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I'm with Commonwealth Bank and have a regular CC with them but looking at opening one with ANZ to get the 50,000 Qantas points on offer.

Long term I'm happy to have fewer cards rather than more so I'd be looking at closing off that ANZ card after a year (maximum) once I've received the points and before I have to pay any renewal fees.

I'd then move back over to Comm Bank and hopefully change my current CC to an awards card so I'd only have the one with them.

I'm in a very sound position with no danger of 'defaulting' but have missed a few payments (we're talking maybe 3 in 6 odd years with no huge amounts outstanding) which can be put down to laziness/forgetfulness. Usually pretty good on that front.

Given all of that do you think I'd be OK? Would you recommend it?
 
Jeremias said:
I'm with Commonwealth Bank and have a regular CC with them but looking at opening one with ANZ to get the 50,000 Qantas points on offer.

Long term I'm happy to have fewer cards rather than more so I'd be looking at closing off that ANZ card after a year (maximum) once I've received the points and before I have to pay any renewal fees.

I'd then move back over to Comm Bank and hopefully change my current CC to an awards card so I'd only have the one with them.

I'm in a very sound position with no danger of 'defaulting' but have missed a few payments (we're talking maybe 3 in 6 odd years with no huge amounts outstanding) which can be put down to laziness/forgetfulness. Usually pretty good on that front.

Given all of that do you think I'd be OK? Would you recommend it?
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I can't see any issue with that.

It's the people that have 4 different credit cards, a harvey norman card plus a host of store cards. You find those type of people just move money around between the cards to show that they are making a payment but never seem to pay anything off.

Missing a few payments won't even show up on your credit check, its only if you default and or are made bankrupt.

On bank related stories, a few years back NAB had an offer that if you opened up a new savings account and deposited $20 in to it they would send you a brand new sherrin. The account fees were $2 per month so myself and a heap of mates all opened accounts and then waited for about 6 weeks for the sherrin to arrive and we then promptly closed the account. A new sherrin ended up costing us $4 in account keeping fees.
 
Jeremias said:
I'm with Commonwealth Bank and have a regular CC with them but looking at opening one with ANZ to get the 50,000 Qantas points on offer.

Long term I'm happy to have fewer cards rather than more so I'd be looking at closing off that ANZ card after a year (maximum) once I've received the points and before I have to pay any renewal fees.

I'd then move back over to Comm Bank and hopefully change my current CC to an awards card so I'd only have the one with them.

I'm in a very sound position with no danger of 'defaulting' but have missed a few payments (we're talking maybe 3 in 6 odd years with no huge amounts outstanding) which can be put down to laziness/forgetfulness. Usually pretty good on that front.

Given all of that do you think I'd be OK? Would you recommend it?
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I work on the CBA Awards CC program. If you ever have any questions specifically relating to Awards, let me know.
 

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blueboy25 said:
I can't see any issue with that.

It's the people that have 4 different credit cards, a harvey norman card plus a host of store cards. You find those type of people just move money around between the cards to show that they are making a payment but never seem to pay anything off.

Missing a few payments won't even show up on your credit check, its only if you default and or are made bankrupt.

On bank related stories, a few years back NAB had an offer that if you opened up a new savings account and deposited $20 in to it they would send you a brand new sherrin. The account fees were $2 per month so myself and a heap of mates all opened accounts and then waited for about 6 weeks for the sherrin to arrive and we then promptly closed the account. A new sherrin ended up costing us $4 in account keeping fees.
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Thanks for your help, mate. I'm fairly clueless when it comes to all of this so any advice is greatly appreciated.

From what you're saying it sounds like in my position it would be worth doing with virtually no risks attached. I'd only be looking to have the ANZ one open for a few months at most.

Jatz said:
I work on the CBA Awards CC program. If you ever have any questions specifically relating to Awards, let me know.
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I have been looking at the different options available to me when I close the ANZ card and move my current CBA CC to an awards CC.

I think the most appropriate for me would be the Platinum Awards CC with Qantas FF Direct.

40,000 bonus Qantas points assuming I apply by 3 July 2015 and spend $500 by 31 August 2015 which won't be a problem at all.

Any recommendations in particular?

MEB_ said:
Jeremias do you need to use the card before you get the frequent flier points? Or just open the account?
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Yep. With the ANZ card I'll need to spend $3,000 on purchases within the first 3 months. Sounds like a lot but it's certainly not out of reach considering I have a fair bit of work travel coming up which should cover it on it's own, if not get very close to it.

As above, with CBA I'd need to spend $500 before 31 August 2015 which will be very, very easy.
 
blueboy25 said:
On bank related stories, a few years back NAB had an offer that if you opened up a new savings account and deposited $20 in to it they would send you a brand new sherrin. The account fees were $2 per month so myself and a heap of mates all opened accounts and then waited for about 6 weeks for the sherrin to arrive and we then promptly closed the account. A new sherrin ended up costing us $4 in account keeping fees.
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I did a similar thing, except it was through a company that found you the cheapest price on gas and electricity. I forget the company name, but they were a major sponsor of Melbourne at the time and they went belly up. Think Jack Watts was on the ad.

Anyway, needless to say i never saw my footy :( (but did save on my utilities at least).
 
Sublime said:
Never had a credit card so i'm probably not the best help, but as long as you pay them off promptly i can't see how getting/losing multiple cards would make a difference to credit rating.
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Never back packed Europe or been married
 
JamisonRun40 said:
Subby don't you buy things online like concert tickets or do you just go into an outlet and purchase tickets with cash?
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Actually I wondered that, must be difficult purchasing stuff online without a credit card.
 
JamisonRun40 said:
Subby don't you buy things online like concert tickets or do you just go into an outlet and purchase tickets with cash?
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AceAndy said:
Actually I wondered that, must be difficult purchasing stuff online without a credit card.
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I have a VISA debit card which uses money directly from my bank account.
 

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I've got the 1 CC I've used once that I'm pay-off then it's gone,

I'm with subby on this I don't want one until I need it, debit cards are the way to go
 
Jeremias said:
I have been looking at the different options available to me when I close the ANZ card and move my current CBA CC to an awards CC.

I think the most appropriate for me would be the Platinum Awards CC with Qantas FF Direct.

40,000 bonus Qantas points assuming I apply by 3 July 2015 and spend $500 by 31 August 2015 which won't be a problem at all.

Any recommendations in particular?
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Do you fly regularly with Qantas? If you do, that would be the best way to do it. If not, I've got some other suggestions for you.

PM me if you're interested :thumbsu:
 
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