Advice Needed for Credit Card! Never Held a Credit Card Before

[brad1549]

Hi all,

I am 24 years of age and have never held a credit card before. I'm on quite a healthy salary ($85k) and still live at home. I've been a full-time employee for 4 years now. My current bank is Commonwealth Bank but I am happy to change banks if needed. I fly around 4 times a year (both international and domestic) and usually book with either Qantas/Emirates/Jetstar (i.e. Oneworld).

I also have quite a large holiday planned in August which I still need to book the majority of. Once I book in the coming weeks, I'll spend around $6k.

In essence, I've never had debt and never needed a credit card.

I am very enticed by these big Qantas Points credit card deals from the likes of Amex and so on.

My question is, based on the above information, which credit card would you recommend me to sign up to? I will not have any issues paying off my credit card each month.

I've done a bit of research... Is the Amex Qantas Ultimate Card the best? Or how about the Amex Explorer? Do you think I should get 2 credit cards (presumably one from Amex to get the bonus points and one from a bank)? I'm happy to cancel one if needed.

Thanks for all of your help!

 

[VPS]

all of them to get the sign up bonuses (bonii?) Seriously just keep churning to get points if you want to keep flying. The Qantas Ultimate is a good place to start but just make sure you can fulfil the requirements and cancel before the next annual fee

 

[lilkid28]

Hi all,

I am 24 years of age and have never held a credit card before. I'm on quite a healthy salary ($85k) and still live at home. I've been a full-time employee for 4 years now. My current bank is Commonwealth Bank but I am happy to change banks if needed. I fly around 4 times a year (both international and domestic) and usually book with either Qantas/Emirates/Jetstar (i.e. Oneworld).

I also have quite a large holiday planned in August which I still need to book the majority of. Once I book in the coming weeks, I'll spend around $6k.

In essence, I've never had debt and never needed a credit card.

I am very enticed by these big Qantas Points credit card deals from the likes of Amex and so on.

My question is, based on the above information, which credit card would you recommend me to sign up to? I will not have any issues paying off my credit card each month.

I've done a bit of research... Is the Amex Qantas Ultimate Card the best? Or how about the Amex Explorer? Do you think I should get 2 credit cards (presumably one from Amex to get the bonus points and one from a bank)? I'm happy to cancel one if needed.

Thanks for all of your help!

The American Express Explorer Card, currently with huge signup bonus of 100,000 MR Gateway points, equivalent to 75k miles, but if you can get an Ascent Amex card and manage to link the Explorer to the Ascent program, like many others have done, that can equal 100k miles in a variety of programs.

 

[nightelves]

Hi Brad I would be incline to lean towards Amex Explorer given Qantas points are much easier to earn than other partner airlines. As someone mentioned if you happen to pair it with the Amex Platinum Edge and get onto the Ascent program you’re netting yourself 100k points that can be transferred to Krisflyer, Etihad and a few others at a 1:1 ratio.

 

[brad1549]

The American Express Explorer Card, currently with huge signup bonus of 100,000 MR Gateway points, equivalent to 75k miles, but if you can get an Ascent Amex card and manage to link the Explorer to the Ascent program, like many others have done, that can equal 100k miles in a variety of programs.

Thanks for the reply!

Wait so is 100k MR points better than the 100k Qantas points bonus for the Ultimate card sign up?

Are you saying 100k MR points equals 75k literal miles? Sydney to London is 10,500 miles... So 21,000 miles return. Are you saying with 100k MR points I could fly to London return 3 times?!

Also, I thought the Ultimate Card was best as it offers 1.5 Qantas points per dollar spent?

Would you recommend I get both the Ultimate Card and Explorer?

 

[brad1549]

Hi Brad I would be incline to lean towards Amex Explorer given Qantas points are much easier to earn than other partner airlines. As someone mentioned if you happen to pair it with the Amex Platinum Edge and get onto the Ascent program you’re netting yourself 100k points that can be transferred to Krisflyer, Etihad and a few others at a 1:1 ratio.

Thanks for the reply - I'll look into this. Would you recommend I also sign up to the Ultimate Card to reap the 100k Qantas points and then cancel it (once I've spent $3k), and continue on with the Explorer Card?

 

[Skyhawk]

At your age I would give careful consideration to any possible mortgage applications you may make in the future and the potential impact of credit card applications upon same.

 

[nightelves]

Thanks for the reply - I'll look into this. Would you recommend I also sign up to the Ultimate Card to reap the 100k Qantas points and then cancel it (once I've spent $3k), and continue on with the Explorer Card?

You can only get bonus sign on for one and not for both. So you would need to pick one.

Use this to see the different partners that Amex can transfer to: Membership Rewards® Travel Partners

Search each of those airline partners and see how many points is required for your trip. This would help you weigh up which card is more beneficial for you.

 

[mviy]

If you mainly fly QF/OneWorld and if that’s what you’d want to use the points for go with the card that earns QF points. No point earning points to fly other airlines if you won’t use them. Always have a clear idea of what you want to achieve, what you’re saving the points up for.

If you’re planning on getting a mortgage you should have a period of time (e.g. 6-12 months) with no credit card applications before applying for the mortgage if possible.

 

[Dr Ralph]

AMEX Explorer or the fee free ANZ card with 75K points. But apply straight away. Sooner you sign up for one sooner you get the points, cancel, wait out any exclusion period and apply again. That's the main way people accrue large point tallys.