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

[sumthinfornuthin]

They could be doing this to try to put pressure on the banks not to slash the points they'll buy as much as they otherwise would assuming QF offers a good deal on their own card.

My thoughts are that it is a good card...... 60,000 sign on $ 10,000 per month at 1:1, have a Jetstar card $ 2,500 per month @ 1:1, ANZ Black..unlimited at .75:1 ( changing soon). Plus whatever use one can get from the Amex cards at 1.5:1
Then give the banks etc a try in 12 months for reduction in fees and see what happens.;
The Party might be finishing but it's not completely over just yet IMHO, maybe the times have just been too good and some of us have been lucky enough to learn to play the game by "their" rules to "their" disadvantage from an early stage and now they are taking their "bats and balls and going home" because we were winning ?

 

[Daver6]

MrsDaver6 rang today to enquire about a supplementary card. Two "interesting" things about it. They've clearly had a lot of people call about it and be annoyed when told not available. So they had a nice prepared spiel.

Firstly, she was told not available until the third quarter the year. Secondly, when the mentioned all advertised material suggested it was available, their response was "that it was available, but not open" and that it would be "open" in the third quarter.

Sounds like blatant false advertising to me. She has completed the $3k spend. If the bonus points post before the supplementary card is available, she will probably cancel and request at least a pro rata refund given she has purchased something (the card) and it doesn't perform as advertised.

I honestly don't understand why additional cards would be problematic. It isn't like Citi is new to the credit card game.

 

[BacchusMarsh]

she was told not available until the third quarter the year

Hopefully just three days, then

 

[sumthinfornuthin]

MrsDaver6 rang today to enquire about a supplementary card. Two "interesting" things about it. They've clearly had a lot of people call about it and be annoyed when told not available. So they had a nice prepared spiel.

Firstly, she was told not available until the third quarter the year. Secondly, when the mentioned all advertised material suggested it was available, their response was "that it was available, but not open" and that it would be "open" in the third quarter.

Sounds like blatant false advertising to me. She has completed the $3k spend. If the bonus points post before the supplementary card is available, she will probably cancel and request at least a pro rata refund given she has purchased something (the card) and it doesn't perform as advertised.

I honestly don't understand why additional cards would be problematic. It isn't like Citi is new to the credit card game.

Q. Why would you bother with a supplementary card ??? Would it be better for the other person to apply in their own right and get the 60,000 points and cancel one of the cards in 12 months and then get the supplementary card ( or not ) ??

 

[BacchusMarsh]

Q. Why would you bother with a supplementary card ??? Would it be better for the other person to apply in their own right and get the 60,000 points and cancel one of the cards in 12 months and then get the supplementary card ( or not ) ??

Profound lack of imagination.

One partner might not have as good credit as the other.

One might want to use a balance transfer, in which case the card is no longer viable for day-to-day transactions.

One might be trying to close down other accounts and need a replacement for various transactions.

I'm sure there are many more possibilities, and I'm sure Daver6 is aware of at least one or two.

 

[Daver6]

Q. Why would you bother with a supplementary card ??? Would it be better for the other person to apply in their own right and get the 60,000 points and cancel one of the cards in 12 months and then get the supplementary card ( or not ) ??

My credit rating has taken a bit of a hit with a bunch of other card applications in the last few months. Need access to a non-Amex card with a good earn rate. The additional card is the best bet for me right now. In a few more months I'll re-assess and either apply for this card then or possibly the ANZ option if that's still going.

Actually, does anyone really know at what rate one's credit score recovers? I presume its a sliding window, but any idea what the period of time that window is?

 

[Jacques Vert]

Actually, does anyone really know at what rate one's credit score recovers? I presume its a sliding window, but any idea what the period of time that window is?

Not really, but one thing I noticed on Veda/Equifax is that it keeps application information for 5 years (from memory). So after 5 years, those numerous applications drop off the record and presumably is a factor in the score improving. I have 3 applications dropping off my record over the next 6 months so fingers crossed while looking forward to an improved score.

 

[sumthinfornuthin]

Profound lack of imagination.

One partner might not have as good credit as the other.

One might want to use a balance transfer, in which case the card is no longer viable for day-to-day transactions.

One might be trying to close down other accounts and need a replacement for various transactions.

I'm sure there are many more possibilities, and I'm sure Daver6 is aware of at least one or two.

Is the purpose to acquire points or to resolve a financial problem of being over extended and using a balance transfer to get out of the mire ?
IMHO getting a card each = 2 x 60,000 points = 120,000 points plus effectively $ 20,000 credit ( 20,000 points per month ) is the way to go < ASSUMING POINTS ARE THE PRIORITY AND THAT'S WHAT THIS SITE IS ALL ABOUT >

 

[Daver6]

Is the purpose to acquire points or to resolve a financial problem of being over extended and using a balance transfer to get out of the mire ?
IMHO getting a card each = 2 x 60,000 points = 120,000 points plus effectively $ 20,000 credit ( 20,000 points per month ) is the way to go < ASSUMING POINTS ARE THE PRIORITY AND THAT'S WHAT THIS SITE IS ALL ABOUT >

Neither. All cards are paid off in full at the end of the interest free period. Well, technically to accrue as many points as possible when paying by credit card.

My current situation:

• I need a non-Amex card.
• My credit score is likely to be low after applying for many cards in a short space of time. Therefore I don't want to risk applying for a card and being rejected right now.
• I have more points than I can poke a stick at right now (although you can never have too many points).
• I don't have a non-Amex card that earns 1 point per dollar.

Therefore, right now, the best thing for me is the additional card. In a few months, once my credit score improves, I'll apply either for this card or the ANZ card.

 

[sumthinfornuthin]

Neither. All cards are paid off in full at the end of the interest free period. Well, technically to accrue as many points as possible when paying by credit card.

My current situation:

• I need a non-Amex card.
• My credit score is likely to be low after applying for many cards in a short space of time. Therefore I don't want to risk applying for a card and being rejected right now.
• I have more points than I can poke a stick at right now (although you can never have too many points).
• I don't have a non-Amex card that earns 1 point per dollar.

Therefore, right now, the best thing for me is the additional card. In a few months, once my credit score improves, I'll apply either for this card or the ANZ card.

To my way of thinking apply for both and ask for a low credit amount say $ 5,000 on each to increase chances of getting them. I asked for $ 10K on the qantas card and approved. No sense spending more than that as point earn reduces. If approved you can simply pre fund to provide ability to spend and earn the points.
Those points you have will become more valuable as it gets harder and harder to earn and accumulate.
I've got the ANZ Black card but I can't see the $ 425 renewal fee being value and I am going to cancel it on renewal
T

 

[Daver6]

To my way of thinking apply for both and ask for a low credit amount say $ 5,000 on each to increase chances of getting them. I asked for $ 10K on the qantas card and approved. No sense spending more than that as point earn reduces. If approved you can simply pre fund to provide ability to spend and earn the points.
Those points you have will become more valuable as it gets harder and harder to earn and accumulate.
I've got the ANZ Black card but I can't see the $ 425 renewal fee being value and I am going to cancel it on renewal
T

The issue isn't the amount of credit. The issue is my credit score. Each time there is a check, it goes down.

Agree, that ANZ card is not worth $425. Right now, first year is fee free which does make it worthwhile and comes with 75k points and 75 SC. So actually, a much better card (for the first year at least).

 

[cove]

I just noticed Mrscove received the same credit limit as I did. I did her application and had requested $4,000 more for her. So Mrscove remains $40,000 in credit limits lower than me with Citi in Australia.

 

[Steady]

I just noticed Mrscove received the same credit limit as I did. I did her application and had requested $4,000 more for her. So Mrscove remains $40,000 in credit limits lower than me with Citi in Australia.

I thought the minimum was 6K for this card?

 

[jad01]

I received my card less than a week from application date.

The 'benefits' are really of no value to me.
1. I am Gold status so I already have lounge access,
2. The insurance doesn't provide adequate cover compared to most general travel insurance policies, so I would end up purchasing separately
3. Most travel with Qantas is on my own so the companion fare discount is pointless.

So basically I'd end up paying $299 a year for just a card.

JASON

 

[Cynicor]

Why do you care about your score?
I assume mine is through the boot, as it was around 480 or so and I applied for 3 more ccs, got them all and cancelled them, and then another 2 cards...

 

[Daver6]

Why do you care about your score?
I assume mine is through the boot, as it was around 480 or so and I applied for 3 more ccs, got them all and cancelled them, and then another 2 cards...

Perhaps I'm misunderstanding credit scores then. I thought the lower it is, the less likely you are to be approved for credit?

 

[TheInsider]

Perhaps I'm misunderstanding credit scores then. I thought the lower it is, the less likely you are to be approved for credit?

Yes lower = less likely. But I also don't understand some peoples obsession with their 'score', especially some people in the Whirlpool forums..

 

[PaulST]

I received my card less than a week from application date.

The 'benefits' are really of no value to me.
1. I am Gold status so I already have lounge access,
2. The insurance doesn't provide adequate cover compared to most general travel insurance policies, so I would end up purchasing separately
3. Most travel with Qantas is on my own so the companion fare discount is pointless.

So basically I'd end up paying $299 a year for just a card.

JASON

Same as me on all three points. Hence why I'll cancel it after 10 months so think of it more as a purchase of 60,000 QF points for $149 and it makes more sense.

Why do you care about your score?
I assume mine is through the boot, as it was around 480 or so and I applied for 3 more ccs, got them all and cancelled them, and then another 2 cards...

I'm starting to wonder if your score actually matters much either. Since August last year, I've successfully applied for 5 CCs and was knocked back for 2. And I was still approved for this Qantas Premier card earlier this month. Clearly my bonus chasing hasn't hurt my credit score that much.

 

[coriander]

I'm starting to wonder if your score actually matters much either. Since August last year, I've successfully applied for 5 CCs and was knocked back for 2. And I was still approved for this Qantas Premier card earlier this month. Clearly my bonus chasing hasn't hurt my credit score that much.

I've been accepted for all the cards I've applied for this year..... I've just had to cut up my ANZ Black though. I'm thinking my Macq Black will be a keeper for my Visa 1:1 purchases - great app, great online banking page, love their instant purchase notifications to my phone (especially when you've just bought something from "Fred's Seafoods" and the notification tells you the purchase is from " Canopy Number Seven Enterprises P/L" - I would never remember in a month's time who that was when reading my statement :shock:!). Everything else will get the shears at 11 months.

 

[cove]

Steady we each ended up with $16,000 credit limits with our new cards. I used Mrscove's card to get her the expenditure to earn 60,000 points. I think she will be pleased with what I bought her at a one day sale today.