When to apply for an Aussie Credit Card?
Apr 9th 2008, 5:13 am
#1
Forum Regular
Thread Starter
Joined: Feb 2006
Location: Melbourne
Posts: 83
When to apply for an Aussie Credit Card?
I have been here a few months now & recently started working (3 weeks). I wouldn't mind applying for a CC but feel I am likely to get refused due to no credit history. So just wondering how soon after arriving did people succesfully apply?
Apr 9th 2008, 5:33 am
#2
...giving optimism a go?!
Joined: Jun 2007
Location: Brisbane (leafy, hilly western suburbs)
Posts: 2,202
Re: When to apply for an Aussie Credit Card?
gotone pretty much immediately as I recall?
As long as you have a job and have regular income I'm sure they'll throw credit at you!
Make sure you do the maths and work out whether you can make reward points work for you. I've got Citibank bank ($1=1point and no limits) costing $x? (cant remember)
Its not the cheapest card available - but since I pay it off every month the interest rate is irrelevant - and I put EVERY CENT I spend through it.
If I buy a $6 BigMac meal its on CC!! A $3 beer in the pub.. CC...
After a couple of years I generaly have enough points for a return to London!
Look out for schemes where you can only earn a limited number of points each month, or ones where points might expire...
Amex cards have good schemes ($1=1.5 points) - but have a higher annual fee and moer importantly are refused by many vendors (or at least you pay an additional surcharge)
As long as you have a job and have regular income I'm sure they'll throw credit at you!
Make sure you do the maths and work out whether you can make reward points work for you. I've got Citibank bank ($1=1point and no limits) costing $x? (cant remember)
Its not the cheapest card available - but since I pay it off every month the interest rate is irrelevant - and I put EVERY CENT I spend through it.
If I buy a $6 BigMac meal its on CC!! A $3 beer in the pub.. CC...
After a couple of years I generaly have enough points for a return to London!
Look out for schemes where you can only earn a limited number of points each month, or ones where points might expire...
Amex cards have good schemes ($1=1.5 points) - but have a higher annual fee and moer importantly are refused by many vendors (or at least you pay an additional surcharge)
Apr 9th 2008, 5:35 am
#3
Forum Regular
Thread Starter
Joined: Feb 2006
Location: Melbourne
Posts: 83
Re: When to apply for an Aussie Credit Card?
gotone pretty much immediately as I recall?
As long as you have a job and have regular income I'm sure they'll throw credit at you!
Make sure you do the maths and work out whether you can make reward points work for you. I've got Citibank bank ($1=1point and no limits) costing $x? (cant remember)
Its not the cheapest card available - but since I pay it off every month the interest rate is irrelevant - and I put EVERY CENT I spend through it.
If I buy a $6 BigMac meal its on CC!! A $3 beer in the pub.. CC...
After a couple of years I generaly have enough points for a return to London!
Look out for schemes where you can only earn a limited number of points each month, or ones where points might expire...
Amex cards have good schemes ($1=1.5 points) - but have a higher annual fee and moer importantly are refused by many vendors (or at least you pay an additional surcharge)
As long as you have a job and have regular income I'm sure they'll throw credit at you!
Make sure you do the maths and work out whether you can make reward points work for you. I've got Citibank bank ($1=1point and no limits) costing $x? (cant remember)
Its not the cheapest card available - but since I pay it off every month the interest rate is irrelevant - and I put EVERY CENT I spend through it.
If I buy a $6 BigMac meal its on CC!! A $3 beer in the pub.. CC...
After a couple of years I generaly have enough points for a return to London!
Look out for schemes where you can only earn a limited number of points each month, or ones where points might expire...
Amex cards have good schemes ($1=1.5 points) - but have a higher annual fee and moer importantly are refused by many vendors (or at least you pay an additional surcharge)
Ta thanks for that, I actually have my account setup with citibank so might apply through them.
Apr 9th 2008, 5:52 am
#4
...giving optimism a go?!
Joined: Jun 2007
Location: Brisbane (leafy, hilly western suburbs)
Posts: 2,202
Re: When to apply for an Aussie Credit Card?
One 'gotcha' on the subject of rewards points:
Redeeming poitns to get a flight doesnt make it free. You still have to pay any taxes & surcharges associated with that flight.
On a return to UK that amounts to about $500/$600 (varies depending on route taken). Still a pretty good saving - about $2K less than the fare - or $1300 less than the best fare you might possibly find....
So if it takes you a LONG time to save sufficient points to go to London you might find that you're paying more in CreditCard annual fees than you're gaining:
i.e: 15yrs x $100fee = $1500 on fees...
Currently it takes 125,000 points to get a return so if you spend less than $700 a month and pay a $100 annual fee you might be paying more to use FF than you would gettign the cheapest (free) credit card available and findign the best bargain flight.
Another downside to QFF flight redemptions is availability. There are limited seats available for QFF redemptions - in my experience between BNE-SIN or BNE-HKG the numebr of seats released on each plane is between 2 and 8!!! Obviously these seats go fast, so you need to be ready to book as SOON as they are released. This means being ready to book your flight 330 days before it leaves!! (STUPID!!!)... Also theres often no point waiting for seats on your return journey to be released before booking - if you wait that long your outbound journey seats may be all gone! The answer is to book your outbound seats as soon as possible and then (for a 3 week holiday) 3 weeks later when the return seats are released, book them!!!! If this sounds like too much hard work, then reward points may not be your thing!!!
Redeeming poitns to get a flight doesnt make it free. You still have to pay any taxes & surcharges associated with that flight.
On a return to UK that amounts to about $500/$600 (varies depending on route taken). Still a pretty good saving - about $2K less than the fare - or $1300 less than the best fare you might possibly find....
So if it takes you a LONG time to save sufficient points to go to London you might find that you're paying more in CreditCard annual fees than you're gaining:
i.e: 15yrs x $100fee = $1500 on fees...
Currently it takes 125,000 points to get a return so if you spend less than $700 a month and pay a $100 annual fee you might be paying more to use FF than you would gettign the cheapest (free) credit card available and findign the best bargain flight.
Another downside to QFF flight redemptions is availability. There are limited seats available for QFF redemptions - in my experience between BNE-SIN or BNE-HKG the numebr of seats released on each plane is between 2 and 8!!! Obviously these seats go fast, so you need to be ready to book as SOON as they are released. This means being ready to book your flight 330 days before it leaves!! (STUPID!!!)... Also theres often no point waiting for seats on your return journey to be released before booking - if you wait that long your outbound journey seats may be all gone! The answer is to book your outbound seats as soon as possible and then (for a 3 week holiday) 3 weeks later when the return seats are released, book them!!!! If this sounds like too much hard work, then reward points may not be your thing!!!
Apr 9th 2008, 5:55 am
#5
BE Forum Addict
Joined: Apr 2005
Location: Burnham On Crouch Essex
Posts: 1,511
Re: When to apply for an Aussie Credit Card?
Bit naughty but she just asked are you a permanent resident? and I just said yes, and she ticked the box
.... I went with my bank Westpac and as long as you have wage slips etc should be fine......
.... I went with my bank Westpac and as long as you have wage slips etc should be fine......
Apr 9th 2008, 6:06 am
#6
Frequent Flyer Member
Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Re: When to apply for an Aussie Credit Card?
i.e: 15yrs x $100fee = $1500 on fees...
Currently it takes 125,000 points to get a return so if you spend less than $700 a month and pay a $100 annual fee you might be paying more to use FF than you would gettign the cheapest (free) credit card available and findign the best bargain flight.
For selfish singles travelling alone, the best use of points is not for economy fares but to upgrade to business and experience something a bit special that you probably could never afford otherwise - the bmi programme was great for this.
