CC sign up bonus review 2011

[JOC469]

Like Pu Koh I have churned the Citi and ANZ cards, so there hasn't been an increase in the credit each financial institution has assigned me. In fact both have offered to extend the amounts, and I have conditional approval for the home loan I need. Things may not be as easy in 2012. but I am happy to horse trade credit between cards from the same financial instition.

 

[burmans]

Like Pu Koh I have churned the Citi and ANZ cards, so there hasn't been an increase in the credit each financial institution has assigned me. In fact both have offered to extend the amounts, and I have conditional approval for the home loan I need. Things may not be as easy in 2012. but I am happy to horse trade credit between cards from the same financial instition.

One of the problems with our current credit rating system is that it's not immediately obvious what our credit ratings are but have noticed when looking at my credit file that in many instance for same bank lending (i.e. for banks where I have or have had an existing or previous loan/car) this is not being reflected in my credit file, i.e. no credit enquiry is being made. Somewhat understandable, it costs money to make an enquiry and for most banks they have a lot more predictive info on credit history on their own systems. So the assumption that lots of applications is a bad thing depends somewhat on whether you have previous credit with that bank and their policy regrading going to the credit bureaus.