Just wondering what is the best way to get some credit card points without it costing the earth?
Best Way To Get Credit Card Points
grabngo on 18/02/2016 - 15:43
Comments
it affects your credit ratings
Can you please explain why and how it affects the credit rating? Not trolling.
It doesn't… as long as you pay off your credit card then you are fine…
@R3XNebular: I'm with you on this. Still want to hear reasoning behind "it affects your credit rating" from someone.
Each application does have an affect on your rating by not by much , as long as you aren't applying for 10 credit cards a year you are fine, try and split each application by a few months.
@R3XNebular: It does affect your credit history opening and closing accounts. A better way to not lower your rating over time is to downgrade your card to a no annual fee card from the same card issuer (depend on the bank). Because this is considered a product change it doesn’t affect that trade line on your credit report, this means that your credit card will continue to age and thus increase your average age of accounts in the long term.
Thanks for the tip. I will do that for my ANZ Black Credit Card (75k point offer) and then revert to a no annual fee. Thanks! Does anyone know how badily it affects the rating?
@R3XNebular: Read this acticle might help you out alot
http://www.creditcards.com/credit-card-news/help/cancel-cred…@2Poor4Ozb:
Thanks good read.
Found a more local/aus site. http://www.creditcardfinder.com.au/how-to-cancel-a-credit-ca…
Waiting 3 to 6 months sounds like another option. I prefer to go with the no fee bank account and stay with ANZ for a year or two.
Get some bonus points from here: https://www.ozbargain.com.au/wiki/american_express_referrals
There are some no fee cards as well.not worth opening and closing accounts just for a few points
Sign up for credit card offers and get the free points, then cancel the card .