QANTAS to launch their own credit card in tie-up with Citibank

[Jack_OC]

Dividend income from a typical , well balanced and structured , au share portfolio is a very stable and reliable income stream.
Dividends fluctuate in a stable and quite predictable fashion.
Even through difficult times such as 2009 , dividend streams were not greatly affected even though the share valuations had plunged.

That's all true. But the CC provider would have to take a look at your specific portfolio, and satisfy themselves that you don't have margin loan, before they could conclude that your particular dividend income stream is stable/reliable. They would also have to assume you are not selling down part of your portfolio as time goes on, but many people are doing that, and those people most certainly are affected when values plunge. IME, the CC providers just don't bother going into this level of detail, instead they just assume that there is a certain level of risk associated with income of this nature. Just like they assume you're not going to get a bonus, even if you have received a bonus every year in living memory.

All I'm saying is, I don't think that's particularly unreasonable. In fact, that's pretty much what I do for my own budgeting purposes. Obviously others disagree - fair enough.

 

[Jacques Vert]

Dividend income from a typical , well balanced and structured , au share portfolio is a very stable and reliable income stream.
Dividends fluctuate in a stable and quite predictable fashion.
Even through difficult times such as 2009 , dividend streams were not greatly affected even though the share valuations had plunged.

That's all true. But the CC provider would have to take a look at your specific portfolio, and satisfy themselves that you don't have margin loan, before they could conclude that your particular dividend income stream is stable/reliable. They would also have to assume you are not selling down part of your portfolio as time goes on, but many people are doing that, and those people most certainly are affected when values plunge. IME, the CC providers just don't bother going into this level of detail, instead they just assume that there is a certain level of risk associated with income of this nature. Just like they assume you're not going to get a bonus, even if you have received a bonus every year in living memory.

All I'm saying is, I don't think that's particularly unreasonable. In fact, that's pretty much what I do for my own budgeting purposes. Obviously others disagree - fair enough.

I understand both points of view, but perhaps they should just offer a lower credit limit rather than ignoring what for some people will be a significant and quite stable income stream.

Interestingly, they are quite happy to accept income from a rental property, even where that property is residential and in regional towns exposed to mining or other cyclical industries, where the entire income stream form a property can cease overnight. I know which income stream I would consider to be more reliable and at least you can sell shares in a hurry if you are willing to accept the going price.

But my earlier point was more about the banks not understanding smsf's; the agent even asked if I control it myself. Wouldn't the term "self-managed" imply that I control it? I told him that if I didn't control my fund it wouldn't be a self-managed fund. I haven't heard back so maybe he is still getting his head around that one.

PS: As for income, maybe I am still a little touchy after an episode a couple of years ago when one of these chaps told me that they preferred people who work for the government because they had '...a guaranteed income...':evil: That conversation took place about a month after I was made redundant from a government job. Perhaps the remainder of that conversation should remain between him and I.

 

[Nizar]

Loving how this card offers six months of interest free on the first QF flight purchase.
Just gotta wait for those F companion fares to appear again.

Does anyone know how/where to apply for this card ?

 

[Kangol]

Loving how this card offers six months of interest free on the first QF flight purchase.
Just gotta wait for those F companion fares to appear again.

Does anyone know how/where to apply for this card ?

https://www.qantasmoney.com/

 

[PaulST]

Loving how this card offers six months of interest free on the first QF flight purchase.
Just gotta wait for those F companion fares to appear again.

Does anyone know how/where to apply for this card ?

Hmmm I wonder if that would work if you paid via a TA? I'm assuming not but I'd love to upgrade an upcoming PE trip to J, and not pay for a few months!

 

[sumthinfornuthin]

In your case was it easy to complete and info they required?.

Had 2 phone calls so ffar and one to my accountant, still being processed

 

[cove]

Mrscove wants me to do an application for her. I was surprised she didn't mention the problem she had with Citibank less than 10 years ago.

 

[pyffii]

Two phone calls to the accountant,another call to Qantas Money and told "thinking about my credit suitability and should know in 5-7 days ....WTF !!!!....think I might just resort to cash

 

[N860CR]

Decided to apply for this, basically just for the signup bonus. Most work I've ever had to do for a credit card. Long term job in the 6 figures (plus the rentals), three different phone calls asking for more info (that had already been submitted) and finally a call to my HR department. They actually sent an email asking if I'd applied to be an ambassador or something based on the questions asked!

 

[Limewood]

I was going to apply just for the points but really can't be bothered being put through the ringer

 

[jbman]

Applied on Wednesday and haven't heard a thing. I know what a pain citi are to deal with so I won't chase them up.

 

[PaulST]

An email arrived today saying that it's been sent! Hopefully it was actually put into the mail on Friday!

 

[Jacques Vert]

Third phone call today..... and counting.

Wanted more information about my smsf

 

[slinky123]

The weirdest thing, I've been getting calls at work ( on a day I wasn't in) from Virgin Money, I cannot work out where they got my number, does anyone know if they too are associated with Citibank?

 

[DC3]

The weirdest thing, I've been getting calls at work ( on a day I wasn't in) from Virgin Money, I cannot work out where they got my number, does anyone know if they too are associated with Citibank?

Same Call Centre. I posted further up-thread that when I rang Qantas Money, the agent answered 'Virgin Money'. They just seem to lose track of things. It's all Citibank.

 

[cove]

Try to never call them and you won't get a bum steer. I have done super well with Citi over several years and despite that I try not to call.

 

[ComeFlyWithMe]

Same Call Centre. I posted further up-thread that when I rang Qantas Money, the agent answered 'Virgin Money'. They just seem to lose track of things. It's all Citibank.

I think QF may be interested in this feedback. Does RedRoo still exist?

Pretty poor that their partner is basically answering with their major domestic competitors name.

 

[Strategic Aviation]

I think QF may be interested in this feedback. Does RedRoo still exist?

QFF monitors AFF.

Hi everyone, we’d like to let you know that Red Roo will be taking a break from servicing customers here and other like fora. We’ll still be monitoring conversations and feedback to continually improve your experience with us.

 

[Isochronous]

So existing Citi cardholders can get sign up bonus?

 

[cove]

Yes I believe so but they may reduce your other Citi Credit card limits.