NAB Velocity Rewards Premium (75,000 Velocity points $150 annual fee/$1500 spend)

[Kilo]

I just auto-rejected when applying online. I wonder what this was - VEDA?

 

[liamsal]

You may not even have to cancel... I rang up to cancel one and was going to apply for another. They said there was a better chance if I left it open and applied for the additional one first!! We discussed points and everything so I applied and was approved online for a second card! Points are yet to post as I haven't hit the spend yet - but all sounds like I should

Did you already have the NAB Velocity Rewards visa/amex and then called to cancel it and re-apply for them again?

 

[repete]

Did you already have the NAB Velocity Rewards visa/amex and then called to cancel it and re-apply for them again?

Indeed, that was my plan. Upon their advice I left the original one open and applied for a second! All came through - it appeared in my online banking within a couple of days and the cards arrived a few days later. On my way to spending $1500!

 

[get me outta here]

Hope you get the sign on bonus. Plse report. But, why would they think you need two cards the same? Have you cancelled the first one?

Indeed, that was my plan. Upon their advice I left the original one open and applied for a second! All came through - it appeared in my online banking within a couple of days and the cards arrived a few days later. On my way to spending $1500!

 

[repete]

Hope you get the sign on bonus. Plse report. But, why would they think you need two cards the same? Have you cancelled the first one?

Will definitely report (have to get spending )

I received the confirmation letter today on my initial card (annual fee was due this week - avoided that by closing it after getting it fee free last year)

 

[get me outta here]

Is there a specific link to a NAB QF sign on bonus? I have the VA card, but it seems that NAB are allowing people to hold both cards.

 

[nightelves]

Is there a specific link to a NAB QF sign on bonus? I have the VA card, but it seems that NAB are allowing people to hold both cards.

Yeah there was but I think that expired. It was $249 for 70k points from memory. Not as good as 60k points for VA and now 75k points.

 

[liamsal]

I just called and used your scenario as an example (apply for the NAB amex/visa when you already have an existing NAB amex/visa) and they said this was not possible and would be picked up by the verification team prior to sending out the cards. The guy on the phone sounded really unsure of his responses though but still not enough to convince me to wing it and apply anyway.

Will wait to see if you're credited your points.

 

[get me outta here]

I wonder if they will find out you already have the cards (if they will not allow doubling up), before or after they put an enquiry on your credit file.

I just called and used your scenario as an example (apply for the NAB amex/visa when you already have an existing NAB amex/visa) and they said this was not possible and would be picked up by the verification team prior to sending out the cards. The guy on the phone sounded really unsure of his responses though but still not enough to convince me to wing it and apply anyway.

Will wait to see if you're credited your points.

 

[deebens]

I don't think they have any idea. I applied, then when the card arrived I found it was on my customer ID with the card I'd closed. The other time I'd done this I'd been given a new ID. I'd forgotten my password, so I called up and when i got in to internet banking I found the old card still in the account and when I queried it the guy on the line looked and told me they hadn't closed it properly. So then I had to see if they could confirm I'd still be eligible for the points. They told me I was, but I'm not confident.

 

[alexy23]

I had a pretty hard time getting it to the stage of manual review. The online team are completely useless at helping me get it approved. I ended up knowing someone who works in NAB and asked them if they can look into it further. After a few phone calls with many different levels of people it finally got put in for manual review. I'm anxiously awaiting an SMS.

During discussion I tried to justify my VEDA credit enquiries. They said, stop right there, we don't really need to know about why to be honest, we don't _necessarily_ look at that. So I'm guessing the main factors with Veda are that you haven't defaulted, no pay day loans, no risky $1k instant loans etc. And I'd say what they really look at is income - and your ability to pay it back (income/expenses). NAB have a really strict lending criteria, thus I wasn't approved on the spot... I guess they want to test the waters first, see how I go.

IMO the best option... Open a NAB bank account ($0/monthly fee) - put a couple $k in over the next few weeks, heck just pay rent out of it and transfer some surplus into savings. This will show them that you can manage finances and have some savings at least.

I'm trying this strategy now with Macquarie Bank for their HHonours Card as I hear Macquarie are pretty strict - will be interesting to see how it goes. It also doesn't hurt having $0 accounts with all the big banks as it makes applying for CC so much easier. This would also explain why Westpac offered me $19k with instant approval on the spot - no questions asked.

 

[Rutvij Shah]

I am thinking of applying for this credit card. I already have westpac (50k bonus) and am awaiting bonus points hopefully by next month.

How will applying for this credit card affect my credit score? sorry a newbie here so just learning points accumulation process.

 

[Dr Ralph]

I am thinking of applying for this credit card. I already have westpac (50k bonus) and am awaiting bonus points hopefully by next month.

How will applying for this credit card affect my credit score? sorry a newbie here so just learning points accumulation process.

This all depends on what your credit score is. Which is determined by income + credit history.

Do you know your credit score?

 

[alexy23]

Mixed opinions on this but generally speaking it'll take about 80 points off your Veda score for about 6 months.

You could easily apply for 2-3 credit cards over 6 months with no major issues. But try and spread it out over 12 and you'll keep things cleaner

 

[Rutvij Shah]

This all depends on what your credit score is. Which is determined by income + credit history.

Do you know your credit score?

I checked on getcreditscore.com.au and it is about 747.Income is pretty decent.

 

[alexy23]

I checked on getcreditscore.com.au and it is about 747.Income is pretty decent.

Go for it! What are you waiting for?

747 is an ideal number

 

[alexy23]

Conditionally approved pending review of payslips. I'm glad I persisted in the end and didn't take them for granted when they said they wouldn't approve me for ($6k only $3k). HUACA worked well in this scenario.

Looking forward to my 75k in VA points.

 

[nightelves]

Conditionally approved pending review of payslips. I'm glad I persisted in the end and didn't take them for granted when they said they wouldn't approve me for ($6k only $3k). HUACA worked well in this scenario.

Looking forward to my 75k in VA points.

I might just do this with Macquarie since I got rejected. But yeah Macquarie is known for being strict. Congrats on getting approval btw.

 

[alexy23]

Congrats on getting approval btw.

Cheers pretty stoked as credit score is 563.

 

[cssaus]

Having closed my NAB account in October 2014, just wondering if I re-applied would I qualify for the 75,000 promotional offer.