$50 Cashback When You Apply for Any CBA Credit Card and Spend Withint 30 Days

Related Stores

Commonwealth Bank

• 

  jv on 15/05/2012 - 23:33

  T&Cs

  "Fees and charges are payable."
  "You will be ineligible for the incentive if your account is closed"

• 

  CheapCoffee on 15/05/2012 - 23:40

  Looks very similar to previous deal (http://www.ozbargain.com.au/node/64543)

  Did people end up getting $100 with that? (and how was canceling process?)

  • 

    CheapCoffee on 15/05/2012 - 23:47

    +2

    Warning from 'd3ft' from previous deal.

    A word of warning from someone who works in a credit risk area - signing up for a bunch of credit cards is not looked favourably upon should you want to apply for a loan in the future.

    By all means, if you need one - go for it. But signing up just to scam $100 from a bank will probably end up burning you in the long run.

    • 

      mrhorseham on 15/05/2012 - 23:53

      -1

      i believe that your credit rating is only affected by ones ability to pay their debts on time. And is independent of how many credit cards they hold or in this case, apply for.

      • 

        Crownanchor on 16/05/2012 - 07:49

        +1

        The warning was from someone that works in credit risk, and it is true applying for several credit cards, especially in a short amount of time can cause a few issues being denied for a telco service or home loan for example.

      • 

        roughana on 16/05/2012 - 10:46

        Your credit report will show every application for credit that you make - which institution, what type of credit and usually how much.
        When you apply for further credit (ie a housing loan) your credit history is considered.
        At some point be prepared to have an application for credit rejected. And this rejection also appears on your credit report.
        Once you have a rejection, the next application becomes more difficult.

      • 

        twodollah on 16/05/2012 - 13:18

        roughana is incorrect, credit reports will show whether an application was made but not whether the application was approved or declined. Nor will it show the amount of credit limit approved for.

      • 

        roughana on 16/05/2012 - 13:58

        I'm sorry, I did get that wrong regarding the outcome.
        My use of 'usually' is probably also incorrect, however, the amount applied for is 'sometimes' shown.
        e.g. On my report:
        Amaysim shows an entry for $100
        Home loan lender shows an entry for the loan amount.
        Credit card application shows 'unspecified amount' (probably because it is a credit card and not a fixed amount).

      • 

        twodollah on 16/05/2012 - 14:06

        Oh, it shows amounts for some applications? I didn't know that - probably because I only have credit card applications and mobile phone applications on mine. Good to know roughana!

      • 

        [Deactivated] on 16/05/2012 - 18:29

        Incorrect, OP.

        All Applictions are shown.

  • 

    newox on 16/05/2012 - 00:08

    +1

    Yep. Got my $100 pay out last week :D I'm a student so I didn't pay a single cent for monthly fees

    • 

      asa79 on 16/05/2012 - 12:31

      Credit card fees are annual

  • 

    hotwinter on 16/05/2012 - 11:56

    the branch lost my docs (disappeared no record at all…) and had to resend which cause the card delivered late… hell, wasted time and lost annual fee for nothing. should had listen those neg feedback. never ever going back to this so called bank :(

  • 

    twodollah on 16/05/2012 - 13:17

    Replied to wrong post

• 

  jasopan on 16/05/2012 - 00:15

  "Allow up to 90 days from when you first spend on your card for the cash back to be applied to your account."

  I guess it's like above says; good if you actually need it. Maybe not worth it to sign up just for the $50

• 

  HungHing on 16/05/2012 - 00:15

  Becareful on not signing up too many CC or loans…even if u pay it off all in time or not!! The main point is that credit providers will look at the history of all the CC/loans you have taken out. It creates more liability for you…

  • 

    CheapCoffee on 16/05/2012 - 00:49

    +2

    After investigating through the comment section of the last deal and internet, I think i agree with you (although I have minimal experience with finances) and won't apply for the 'free cash'.

    $50(or $100) is just not worth any potential for trouble with finances in future.

• 

  zombie hunter on 16/05/2012 - 03:15

  -1

  I wouldnt bother, another greedy bank

  • 

    sasangeleus on 16/05/2012 - 08:23

    -1

    troll

• 

  boab88 on 16/05/2012 - 08:29

  I want a Credit Card to build up my Credit Rating (Moved from the UK so no Aus Credit Rating despite holding a mortgage in the UK!) Tried two other Credit Cards but was rejected due to lack of rating. Since my current account is with CBA and my wages go into their account I wonder if they'll be more likely to accept?

  I don't quite understand the no annual fees on the Low Fee Gold credit card:

  1. No annual fee for Commonwealth Bank customers who held a qualifying account or loan at the time of the application and spent $1,000 or more a year on purchases or cash advances the previous year.
  2. No annual fee for Commonwealth Bank customers who held a qualifying account or loan at the time of the application and spent $10,000 or more a year on purchases or cash advances the previous year.

  Do you need to hold it for a year before you can get no fee? Does my current account need to have >$10,000 throughput a year and I qualify?

  • 

    sendoor on 16/05/2012 - 09:17

    Do not apply online again and again. Every time you get rejects, it will affect your credit rating. If you are an Aus citizen or PR holder, then better you visit to bank and talk to them. They will guide you for these kind particular of situation. I am personally affected same as you. Otherwise its bad for your future. (including for your home mortgage loans) If you have provisional visas or any other temporary visas, do not apply. 99.99% it will be get rejected unless you are having mortgage loan.

  • 

    PissLUR on 16/05/2012 - 10:41

    the first year is free..

  • 

    roughana on 16/05/2012 - 10:50

    A credit rating in Australia is not built up in the same way as other countries. The US seems to like applications for credit and no defaults (e.g. shows you can control it), however, in Australia applications for credit lead to questions about what you need the money for, so it is better to have a clean report with nothing on it at all.

• 

  c64 on 16/05/2012 - 09:26

  $50 isn't much incentive to get a credit card

• 

  asa79 on 16/05/2012 - 12:36

  Another bank luring people into debt by offering free money which is only half of what they will take out in annual fees anyway

• 

  grog on 16/05/2012 - 14:21

  I would rather give the tax man $1000 than pay a bank a credit card fee.

  The tax man would buy bullets for our troops, the bank would give it to rich bank board members.

  The tax man only wants what i owe him, the banks want everything.

  Actually… the CBA have a card with no fee if you spend over $1000 per year

• 

  Skinnerr on 16/05/2012 - 15:18

  Hell no, F*** CBA. See these other posts on ozb. http://www.ozbargain.com.au/node/61969
  http://www.ozbargain.com.au/node/63072
  Both banks have NO FEES, Im with HSBC and i get 10$ a month just for depositing my wages into it.

• 

  [Deactivated] on 16/05/2012 - 18:43

  -1

  NOT A FREEBIE!

  Freebies must be accessible to all.

  This offer is not a freebie as it requires you to apply for and be successfully approved for a credit card.

• 

  coolsteps on 18/05/2012 - 10:17

  tip: yes its true too many applications on your file can be a problem also now the credit limit of other cards can be grounds for declining the application. if you feel its unfair or a mistake was done you can always make an appeal to a local cba bank manager and an actual person not computer will reassess the original application.

• 

  cloudy on 22/05/2012 - 18:11

  Do u need to spend at least 50 bucks to get the cash back? I know it doesn't say u need to spend $50, but it is a cash back, so a purchase of $2 would only get &2 cash back presumably? I'm guess, it'll be good if someone could clarify. Coz I'd open it only to spend $2 lol, and close right away.