Which cards have you applied for this year (2016)?

[big_RED]

In fact, does any body know if credit ratings are impacted by card cancellations as they are for applications?

I've read here that it is affected. But I'd wait to get someone with more knowledge on this to confirm.

 

[glasszon]

I've read here that it is affected. But I'd wait to get someone with more knowledge on this to confirm.

Based on people's report only AMEX so far contribute account history with Veda, all other banks/FI only do the credit check once and leave it at that. This implies with the exception of AMEX credit card, you cannot be penalised by card cancellation since Veda never knew whether your application was even successful in the first place or how long you kept the card for.

 

[Mr_Orange]

Despite the good points earn, I could really do with pairing it to something else for international purchases given the 3% international fee.. though I need to calculate out the currency conversion rates to ensure the others aren't just squeezing the 3% in there anyway.

Any Bankwest Platinum, or higher, credit card comes with fee free foreign transactions. Options include the QFF earning card as well as Bankwest's own points scheme and a fee free card.

 

[Damien00]

So far this year I've applied for 4 cards. ANZ (75K QFF), Westpac (40K QFF), Commbank (40K Velocity) and a NAB Velocity card which was part of a home loan refinance.

I've also closed off probably 5 cards this year and am hoping to apply for another 2. I've also had my partner apply for 2 or 3 cards also, so all up is been a productive year!

 

[andye]

I'm in the doghouse too (sub 500 on Veda). In the last year, I've applied for the Virgin Velocity Flyer (25,000 for nil $); 2 x Amex Platinum Edges (15,000 MR x 2 for nil $); Amex Velocity Platinum (120,000 VA points); Bankwest Qantas Platinum (50,000 QFF for $160) and NAB Velocity Platinum (60,000 VA points for $150). I also applied for the Westpac Platinum in June (50,000 QFF points, fee waived) but was rejected. I have unfinished business with Westpac and I am keen to re-apply for the Black on the final day of the current fee free offer (1 Oct IIRC). If I chicken out (just got a bad feeling in my waters about Westpac), I'll have another crack at the NAB Velocity Platinum which I cancelled yesterday in preparation.

In fact, does any body know if credit ratings are impacted by card cancellations as they are for applications?

The usual ratings won't be affected but the willingness of the card-provider to accept might increase if potential outstanding debt is less

 

[bam71]

Westpac Altitude and HSBC ( both instant approval), Other half : Platinum Charge Card. All up 210K points plus we swapped to Qantas Assure for health so that will deliver an additional 80K. About to close Westpac

 

[Boca68]

Based on people's report only AMEX so far contribute account history with Veda, all other banks/FI only do the credit check once and leave it at that. This implies with the exception of AMEX credit card, you cannot be penalised by card cancellation since Veda never knew whether your application was even successful in the first place or how long you kept the card for.

This is correct. I have a Veda Account. Only Amex gives full details on card limits, payments etc.... Although, I recieved an offer from Amex last month to upgrade my Discovery QFF to Gold QFF Amex at a much reduced fee. I noticed that the Amex details on my Veda file disappeared. I'm expecting the new details to appear sometime soon.

As for card cancellations by the user, it appears to have no effect on my score. I think if all the banks/lenders followed Amex and gave full details it might make a difference. But some don't use the score at all and most only get the number, not the full breakdown. It seems only the amount of applications affect the score. Rejections or approvals don't have any influence .

 

[Jeffrey O'Neill]

ANZ Black for 75K QF points
Macquarie Black for 40K QF points
NAB Velocity Premium for 75K VA points

Hopefully can get the HSBC Platinum QF card for 60K points later in the year.

 

[big_RED]

Hopefully can get the HSBC Platinum QF card for 60K points later in the year.

I just signed up yesterday online for the HSBC card and it was super easy and quick, and they actually tell you after the process if you got the card or not, and when to expect to receive it.
Much easier and quicker process than CitiBank!

 

[Lawrage]

Just joined on this bandwagon last month, great forum by the way.

ANZ Black for 75K QF points
Citibank Signature for 70k QF points
HSBC Black for 60k points
Westpac Altitute for 50k points

and the Mrs got
Westpac Altitute for 50k points

 

[llamaesque]

My application for Westpac Black was denied, despite being a good standing customer for over a decade, but approved quickly and painlessly for Citibank.

 

[nightelves]

My application for Westpac Black was denied, despite being a good standing customer for over a decade, but approved quickly and painlessly for Citibank.

Westpac has been a tough one to get approved. It was the first credit card that I got declined. I think they don't like people earning free points. What you can do is get them to do a manual review and hopefully since they see that you're a good customer and give you an approval. A few people have had success that way.

 

[blueythecat]

I've only just cracked the three cards this year:

AMEX Platinum Edge (15k MR Ascent points - via referral offer) - for what it's worth this is the best card I've every had!
AMEX Velocity Platinum (100k Velocity Points - via referral offer)
NAB Platinum (75k Velocity Points) - this is the newbie on the block - haven't even received the card yet!

Perhaps time for one more before the end of the year

 

[Damien00]

Westpac has been a tough one to get approved. It was the first credit card that I got declined. I think they don't like people earning free points. What you can do is get them to do a manual review and hopefully since they see that you're a good customer and give you an approval. A few people have had success that way.

I tried and was rejected for cards by both Westpac and CBA last year. I had never been a customer with them before and I suspect this was part of the problem. In the first half of this year I opened up high interest savings accounts with them when they had promotions on, deposited some savings and applied for a card within a month... approved both times!

 

[adelee]

Curious that there seem to be a lot of people on this forum focusing almost exclusively on non AMEX providers for card sign on bonuses.

As a rule, I find the AMEX application and approval process so much easier than other providers. This plus the fact that they seem to credit account holders with multiple (and generous) initial sign up bonuses through the referral scheme, means I focus most of my time on AMEX applications these days. Usually there is no request for sending additional documentation, and the card simply arrives in the post (as opposed to banks, where you need to go into the branch with ID to pick cards up). It's easy to cancel the cards, and you can even get a generous pro-rata refund - all in all, AMEX are a card churner's dream

The absolute worst provider I've dealt with has to be Macquarie (the only one I have been rejected for). Even though I uploaded payslips and notice of assessment upon their request, they demanded to phone my employer to seek proof of my earnings, and despite me trying to coordinate this with their incompetent call centre for the best part of 3 weeks, I later received a rejection letter stating that they couldn't progress my application further due to not being able to confirm my income.

 

[Damien00]

The absolute worst provider I've dealt with has to be Macquarie (the only one I have been rejected for). Even though I uploaded payslips and notice of assessment upon their request, they demanded to phone my employer to seek proof of my earnings, and despite me trying to coordinate this with their incompetent call centre for the best part of 3 weeks, I later received a rejection letter stating that they couldn't progress my application further due to not being able to confirm my income.

Haha, Macquarie WILL NOT give me a credit card full stop! I've applied many times across their various branded cards (Woolworths, Jetstar, Macquarie etc) and I've been rejected every single time without failure. They will not give me a reason either.

My workaround - my partner applies for their cards and gets the bonuses instead

 

[adelee]

Haha, Macquarie WILL NOT give me a credit card full stop! I've applied many times across their various branded cards (Woolworths, Jetstar, Macquarie etc) and I've been rejected every single time without failure. They will not give me a reason either.

My workaround - my partner applies for their cards and gets the bonuses instead

I'm personally pleased now that they didn't come through for me. Not worth the effort of dealing with their terrible systems / call centre / customer service for a measly 40,000 points.

 

[alexy23]

As a rule, I find the AMEX application and approval process so much easier than other providers.

I second this - in most cases AMEX cards don't even cost anything (once you consider the benefits). Plus they appear to have a higher likely hood of letting you through and give you no hassle throughout the process. Once you weigh this up AMEX is by far the better provider.

 

[Damien00]

I'm personally pleased now that they didn't come through for me. Not worth the effort of dealing with their terrible systems / call centre / customer service for a measly 40,000 points.

Yes she frequently complains of that too!

Apologies up front to everyone if I'm wondering off topic too much. Let me know and I'll post this elsewhere if its more appropriate....

Adelee can you tell me your experience with how the AMEX bonuses work with minimum wait times between cards? I've been pretty aggressive in opening cards in the past but I spread it around between different providers as I always pay attention to the minimum wait times since last holding a card in the T&C's (I even drop a reminder in my calendar). Eg. my brother-in-law last year missed out on an AMEX bonus as he previously had a card within 12 months and some of the other threads here people are having the same experience. Have you not hit this issue with AMEX and is that why you stick with them?

 

[Lawrage]

Curious that there seem to be a lot of people on this forum focusing almost exclusively on non AMEX providers for card sign on bonuses.

As a rule, I find the AMEX application and approval process so much easier than other providers. This plus the fact that they seem to credit account holders with multiple (and generous) initial sign up bonuses through the referral scheme, means I focus most of my time on AMEX applications these days. Usually there is no request for sending additional documentation, and the card simply arrives in the post (as opposed to banks, where you need to go into the branch with ID to pick cards up). It's easy to cancel the cards, and you can even get a generous pro-rata refund - all in all, AMEX are a card churner's dream

The absolute worst provider I've dealt with has to be Macquarie (the only one I have been rejected for). Even though I uploaded payslips and notice of assessment upon their request, they demanded to phone my employer to seek proof of my earnings, and despite me trying to coordinate this with their incompetent call centre for the best part of 3 weeks, I later received a rejection letter stating that they couldn't progress my application further due to not being able to confirm my income.

I for one havent got on the Amex bandwagon yet. For me its the annual fee as well as amex still not as widely accepted.

After reading the forums I am tempted to apply for some but just havent taken the plunge yet.

For me the easiest one so far has been HSBC, applied online and cards arrived a few days later. No payslips or anything needed.

Citi was the second easiest, they asked for payslips, proof of identitiy etc... but didnt need to leave my PC to get the cards.