Bankwest Qantas World MC 90k bonus, $6k spend in 3 months, $135 first year annual fee, exp 31 August 2019

[fkn_ace]

I just applied but only got conditionally approved for the "platinum" qantas card, not the "world" one. Darn, As its means a sign up bonus of 50k qantas points instead of 90k. Of course that's if i get approved.....

 

[Kangol]

I just applied but only got conditionally approved for the "platinum" qantas card, not the "world" one. Darn, As its means a sign up bonus of 50k qantas points instead of 90k. Of course that's if i get approved.....

What income did you put down?

 

[brettd]

The conditional approval will be based on the content of the application and a hard pull of your credit file, and an assessment of the actual content provided within (payment history, limits, amount owed, etc., not any score).

Out of curiosity how does a hard pull get it's data? Would it be more up to date than the typical free reports on card closure dates?

 

[fkn_ace]

What income did you put down?

120k. I currently only have 1 other cc (the anz travel rewards one) and low expenses but obviously something i typed in it didnt like. My fault really for not doing a bunch of test runs with fake names to make sure my numbers would be appropriate.

 

[TripleB]

I applied yesterday and was offered a limit of $12k on the world or whatever I liked between 3 and 12 on the platinum. I normally get offered quite a bit more (ANZ they offered me a silly $50k). So I opted to play it safe and take the platinum card ($80p.a. with 50K sign on bonus) with a $3k limit.

I'm happy with a cheeky 50k for $80 - especially if I can have the points post, card cancelled and the card listed as closed on my credit file before ANZ roll out the card with status credits as part of the sign on bonus again ...

 

[jboy90]

Still waiting for formal approval after conditional approval received last weekend. Did phone during last week when I received an email for payslips (already provided). Was told this was sent in error and they have all they need with a 5 day backlog. Tomorrow is day 6. Will see what happens.

 

[Kangol]

Other than DOB, all of what you list can be provided AFTER your application is approved.

Got conditionally approved for the Platinum card. Wasn't expecting it at all.
Name, DOB, address and email was given.
Will go into a branch for an ID check - says I only need an Australian passport, so I won't need to give them drivers licence details that they may already have.

What identification documents do I need? | Help | Bankwest

There may be times when we need to check your ID to confirm your identity. Use our handy guide to see what documents we’ll accept.

www.bankwest.com.au

I'll see if I can switch to the World after holding the Platinum for a while.

 

[Mqrko]

If you switch to World Mastercard from a Platinum, do we still get the 90k bonus point ?

 

[33kft]

If you switch to World Mastercard from a Platinum, do we still get the 90k bonus point ?

Almost certainly not, as you would not be a new cardmember.

 

[Mqrko]

That's what I thought too...
I called BW about the criterias for the World MC, the girl on the phone wouldn't give me any information about it.

 

[woodyren]

Just had my final approval email for this card. A little bit of pain having delays caused by them not receiving or misplacing my first lot of payslips. I had to call them and resend but all good eventually. Will pay for a few upcoming cruises we have booked through a USA travel agent in USD (still far cheaper than the AUD price despite our battling dollar) to take advantage of the no forex fees and quickly meet minimum spend. Will probably hold till just before next AF for OS spend as well rather than immediately churn.

Point of reference. I have 4 current cards with combined limits of 42K and an average credit score of 596. I normally apply for two different cards at the same time and that 42K limit includes 16K on the card(s) I received last week. Not sure if doing this helps but my assumption is that when I apply for 2 cards simultaneously I don't include either on my application, because neither have been approved yet and the credit hit or amount owing doesn't appear on any file either. If I apply for a single card then apply for the other weeks later it would appear worse to the lender. I have done triple application once or twice with success as well.

 

[jboy90]

How long did it take from initial application to final approval?

 

[woodyren]

Took around 3 weeks.

 

[jboy90]

Took around 3 weeks.

Might as well apply for something else while I await it to be approved

 

[aspro2]

... when I apply for 2 cards simultaneously I don't include either on my application, because neither have been approved yet and the credit hit or amount owing doesn't appear on any file either.

That's very interesting. I assume that means that the "touch" of the credit file by the lender during an application doesn't show up in the file for some time. I was wondering about this just the other day!

 

[QF_Flyer]

That's very interesting. I assume that means that the "touch" of the credit file by the lender during an application doesn't show up in the file for some time. I was wondering about this just the other day!

The search will show on your credit file almost straight away, the new account won't until it's set up and info sent to the CRAs (usually a monthly feed).

 

[QF_Flyer]

Out of curiosity how does a hard pull get it's data? Would it be more up to date than the typical free reports on card closure dates?

It receives it electronically from the credit reference agencies, generally the same info that you'd see on the free reports. It won't be any more up to date, as the CRA files are updated periodically, usually monthly, with bulk data from whatever organisation provides it.

The only exception would be internal data a company holds on you, that particular company can obviously see 100% of everything, not just what is shared with the CRAs, as I guess you'd expect.

Comprehensive reporting means there's now a lot more at the CRAs than there was, which was just searches and negative info, as has been the case in the USA and UK for a long time. The differences there being the USA is much more centralised and your 'score' actually means something, whereas in the UK and here the scores are indicative, and the actual data is much more important (not that the actual data in the USA isn't important, as that's what generates the score!...if that makes sense).

 

[aspro2]

The search will show on your credit file almost straight away, the new account won't until it's set up and info sent to the CRAs (usually a monthly feed).

So that touch of the file is usually assumed to be an application risk... I suspect @woodyren must look good (for credit) enough that the very recent touch isn't treated by the lenders as a red flag.

 

[QF_Flyer]

So that touch of the file is usually assumed to be an application risk... I suspect @woodyren must look good (for credit) enough that the very recent touch isn't treated by the lenders as a red flag.

I guess so, although the searches only have relatively low impact, in the grand scheme of things - sure, if there's no other info, just 100 searches, probably a red flag, but a few extra searches on otherwise good history won't have a huge impact.

My 'number of searches' is always pretty high, in fact it's always listed as a negative when I check my file online, but it doesn't seem to matter much. If I hit a rejection, it's usually after several new accounts in 2-3 months, I then leave it for 3-6 months (depending on how I'm feeling/what offers are around) and start again...that gives me time to tidy things up (re-evaluate what cards I actually want to keep, and close some of the ones which I have no further use for).

I try and keep things relatively tidy anyway, for oppo's like this one. I was actually a bit hesitant, because I took out a NAB card in May, first one since last year, and didn't really want to apply for another, but it worked out. I'm on an application hiatus again now until at least summer!

 

[aspro2]

... the searches only have relatively low impact, in the grand scheme of things - sure, if there's no other info, just 100 searches, probably a red flag, but a few extra searches on otherwise good history won't have a huge impact.

Great to know! Thanks.