Not yet. I'm thinking of doing either this one or the NAB one if I'm confident I can do the 4k spend.
In my experience though, I've never been declined by both HSBC and NAB.
HSBC has a horrendous website though.
Cool, someone told me that credit application to institutions other than the big4 costs more credit scores. My Woolworth cc application dropped the score by 30 while I expected about 12.. this may be another point to consider if your score is low.
It's weird. I monitor my credit score through applications and it's consistently 616, even after getting declined a couple time.
If you don't mind me asking, what's your credit score at right now?
Edit:
Oh shit, my credit score from getcreditscore.com.au is 479. :/
From creditsimple it's 558.
From creditsavvy it's 616.
I've just been looking at creditsavvy always, that's why I think my score's always 616.
@Zaenille: oh.. the banks usually use the one that you also get from getcreditscore.com.au
The other ones are not as important and sometimes updated irregularly (from my experience and also as reported by others in OzB).
My credit score is 599 and only drops each time I apply although they say there is a positive credit reporting effect. I have never seen any increase (4 months since my last application now).
With 479, you may need to avoid making new applications especially if you have just made some applications. One thing I an tell is if your a 5-year-old application is dropped off of your records your score increases. Also, I am carrying a significant balance over different cards and that might be the reason my scope never increases.
Yeah Zaenille what superready said is correct. If you read the disclaimer down the bottom of getcreditscore, it says that the score is taken from Veda(Equifax). I'm afraid if you apply for any card now you're most likely be rejected as that score is considered below average.
@nightelves: Thanks nightelves.
I'll probably lay off the cards then as you and superready suggests. It seems like just a downward spiral if I keep trying for cards at my current situation.
Feels bad since I always fully pay off my cards in full! Oh well.
Unfortunately I was in you're situation last year when Westpac and Macquarie rejected me based on my score. Had to lay low for at least 6 months for the score to recover. I'm a lot wiser now as to what I apply. Mainly look for ones with huge bonus to make it worhwhile with the odd fee free for life card thrown in. Hope that helps you.
From what I read is when banks see you apply for heaps of credit card in a short amount of time. They are thinking that you apply for new credit card just to service or pay off the previous one. Chasing points doesn't even come into the picture for them.
@nightelves: Yeah, I might have to follow your footsteps. Lay low, then be very selective of applications I'll go through.
For now stick with the Westpac Altitude Black and see if you can renegotiate to have annual fee waive. Hopefully the card should supplement your points earning for the time being.
NAB 90K points is great, but the fee of $450 or so jus doesn't cut it for me. But then it is like buying points at 0.005c with a credit hit on ur file.
A question, if I do a balance transfer to this card and pay the credit card statement (not the balance transfer) every month before the due date, would I still have the 6 months of 0% interest?
With this card, you have to wait for the statement showing the purchases before payment will be allocated to the purchases. If you buy something on the card today, then pay it tomorrow - their system will allocate it to the BT as it doesn't recognise it as a purchase until the statement is issued. You would be best to make purchases on this card just prior to statement date, then pay purchases only once statement issued if you want the 6month 0% BT offer and bonus points.
Source: I have a BT on this card and spent $3k on the card, thinking i was paying off purchases straight away, but paid down the BT inadvertently. I got it fixed up, but was a hassle. Also got the 60k points in QFF acct on 4th statement.
Got knocked back from ANZ with credit savvy score of 700
Esrning more than requirement minimum.
Purposely cancelled my Westpac so I don't have any owing
Now I'm cardless.
Put in Amex application - still pending
I applied for this card in the last few weeks.
The website is horrible, but usuable. They might send you an OSD which you can ignore, it's for savings accounts only. The card is good looking. The customer service reps are good on the telephone. I'm awaiting a free supplementary card.
Supplementary card arrived. It has a different CC number, handy for adding to different PayPal accounts.
Did you apply for this one?