My Income Is All Foreign Based: Can I Get a Credit Card with Qantas Points Sign-up Bonus?

arkhos on 25/03/2023 - 22:28
Last edited 28/03/2023 - 13:28 by 2 other users

Hi guys,

Australian Permanent Resident here currently residing in both U.K and Australia. Unfortunately, it looks like that since I moved to U.K. I am having a hard-life in playing the card game. When I was residing and earning in Australia, I signed up and earned from Amex and Qantas credit card with no problem. Now, that my income is in GBP, I applied the 120k NAB and been rejected after conditional approval.

The customer service explained to me that they "shadow" any source of foreign income. As a result, the income component of my application got smashed and failure has been inevitable.

I was wondering if this is idiosyncratic to NAB credit risk model or is a general thing. In other words, is there is any credit card it would make sense for me to apply?

thanks

Financial Credit Card

Comments

  • miwahni on 25/03/2023 - 23:36

    When you say they "shadow" your OS income, do you actually mean they "shade" it? Because it's common practice to shade income from os to allow for fluctuations in currency exchange rates. Often taking only 90% of the converted income. Some banks may be harsher.

    • arkhos on 27/03/2023 - 03:04

      They took it away entirely

  • ninjawarrior on 26/03/2023 - 02:06

    I haven't found any Australian banks that will allow credit card applications unless you have a high enough Australian income on a local payslip or a tax return.

    I also moved overseas for work several years ago and haven't been able to churn local cards since then. Following this thread as well in case someone has a loophole I'm not aware of.

  • parsimonious one on 26/03/2023 - 08:03
    +1

    Have you tried using your Australian notice of assessment from the ATO as the basis of the application, that will show you income but won’t highlight that it’s from overseas sources

    You do pay tax in Australia right?

    • arkhos on 27/03/2023 - 03:06

      That's smart, but the problem is I don't spend enough time in Australia to qualify as tax resident

  • Baysew on 26/03/2023 - 10:19
    +1

    Why not try for a UK card, if you have moved to UK and your income is UK based. Purchases in UK would incur an overseas transaction fee and probably negate any points earning on most Australian based cards.

  • ihbh on 26/03/2023 - 12:56
    +2

    A similar situation applies to resident retirees with a lot of assets but low income (e.g. splitting through family trust). The admin guys are not investment bankers who have the capability/authority to go though your individual financial details. They just have a template - do you satisfy it or not? Next.

  • arkhos on 29/03/2023 - 06:22

    thanks y'all guys

  • coolsteps on 30/04/2023 - 21:35

    amex global card transfers is a way. but im not sure how many you are allowed to do for the same country?

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