Would I Qualify for a Credit Card? Which One Should I Apply for?

John Barosa on 16/07/2025 - 01:42
Last edited 16/07/2025 - 10:10 by 1 other user

I'm a 20 year old citizen, been working on a part time contract for 4 months and make at least $250 per week. I have $5k in shares, but only $150 in my bank account. I don't want to take a credit score hit, by having my credit check fail.

I want get a Coles Rewards credit card, which is free for me, since I'm an employee. Anyone else got any zero fee credit cards, which have low credit requirements?

Incidentally, how long should I work a job, before quitting, to get a good reference? Six months, a year?

Financial Credit Card

Comments

  • angywoo on 16/07/2025 - 01:50
    +10

    don't do it.

    • WoodYouLikeSomeCash on 16/07/2025 - 01:51

      Lmao, you get free points, no reason not to.

      • John Barosa on 16/07/2025 - 01:57

        Points make no difference for me, I spend maybe 3-4k a year. I just want freedom to buy more shares, while still being able to buy expensive stuff.

        • Loubon on 16/07/2025 - 04:37
          +16

          Work more hours. Earn more money. Buy more shares?

          No credit card required.

          • John Barosa on 16/07/2025 - 05:41
            -8

            @Loubon: I've got tons of money. That's not the problem here.

            Any money sitting in my account is wasted. IT's always better to have money do something or being invested. Basic economics. My shares are already up ~500, in just a few months. Why am I throwing money in the bin?

            Let's say that an OLED monitor came on sale for $400. If I wanted it, I would have to go to my parents, and ask them to buy it for me, and pay them back the next week. Kinda inconvenient for them and for me. And I'm just using THEIR credit card.

            Also credit card have better protections. If I get my debit skimmed, I'm (profanity), and I lose $150 or whatever's inside it. If I lose my credit card, I can just report fraud, and they won't charge me.'

            I also hate selling my shares. I think it's cowardly, to use investment money, for your own short term pleasure.

            Credit cards just seem superior. Why shouldn't I have one?

            • joka on 16/07/2025 - 05:50
              +15

              @John Barosa: Ah, the innocents of the youth. It’s very refreshing.

            • V2L on 16/07/2025 - 06:31
              +16

              @John Barosa: you said you make $250 per week, and have $150 in savings, with a networth of $5k.. this is tons of money?

              I'm very pro credit card and would go for whatever has the highest sign up bonus but at your level of income and considering the higher propensity for impulse spending it doesn't justify the risk. you don't have an offset account so the opportunity cost of money sitting in your account for an extra 30-45 days is negligible

              • John Barosa on 16/07/2025 - 06:56
                -1

                @V2L: 5k is well above average for 20 yo in Australia. Think about the intl students, the dormers, the "big spenders" and the poor people in towns/shithole suburbs. I pretty much only get beat by tradies, dudes who've been hustling since 15, fancy tutors and old money boys

                But yeah. Maybe I'll think the credit card through again. Nobody is telling me it's a good idea, and ig I don't need one, nor do I spend enough to justify one.

                • V2L on 16/07/2025 - 07:53
                  +4

                  @John Barosa: good on you for having any savings at all at 20yo, but it's not a big balance in the context of having a credit card that has a minimum 3-15k limit especially if they are not completely liquid if tied up in equities.
                  ask yourself whether having easy credit will change your spending habits and be honest with yourself. if you have to pause at all, don't do it. the small incentives and bonuses you get aren't worth financial stress

                • joker0701 on 16/07/2025 - 11:45

                  @John Barosa: 5k is nothing for a 20yo… when i was 20 i had probably 2 or 3 times that by just working basic part time jobs. I have personally never had a credit card and im 33, i have considered it for points, but if i want something and cant afford it, i just dont buy it.

                  Its great that you have 5k in shares, but thats effectively nothing for you to be considering getting a credit card

                • Ughhh on 16/07/2025 - 19:30
                  +1

                  @John Barosa:

                  5k is well above average for 20 yo in Australia. Think about the intl students, the dormers, the "big spenders" and the poor people in towns/shithole suburbs

                  The banks assessment on whether you can afford the CC isn't based on how you compare to other kids your age or people in your area. You might be super rich compared to a 10yo, but in the eyes on the bank, at this point of time, you don't have tons of money, and you don't have the income to support it.

                  • John Barosa on 16/07/2025 - 19:32

                    @Ughhh: And now I know. Good thing I didn't sink my credit.

                • Baysew on 16/07/2025 - 20:04

                  @John Barosa:

                  5k is well above average for 20 yo in Australia.

                  Not really

                  • John Barosa on 16/07/2025 - 20:10

                    @Baysew: I just turned 20, I'm not 22. ANd even for 22 year olds, 5k is average on ozbargain. U think poor people are on this forum?

            • holdenmg on 16/07/2025 - 08:17
              +3

              @John Barosa: An alternative to a Credit Card is using a Debit Card to make a purchase such as an OLED Monitor via https://www.paypal.com/au/digital-wallet/ways-to-pay/buy-now…

              You can buy your shiny new toy, spread your Payments over Four Weeks and get https://www.paypal.com/au/legalhub/paypal/buyer-protection?l…

              If you are concerned about having your Debit Card skimmed, use tap-to-pay or mobile wallet options.

              Even if you got a "Free" Credit Card as an Employee, would it remain free once you leave?

              Apply for a Credit Card later, when your really need one and your income and Credit History from using PayPal to buy things (you can afford and need) is stronger.

              Even with a Credit Card, it is expected you exercise reasonable care over it.

              • ricadam on 16/07/2025 - 09:57
                +1

                @holdenmg: Not sure if I'd ever recommend someone to sign up for a buy now, pay later scheme…

                • holdenmg on 16/07/2025 - 10:22

                  @ricadam: …or a Credit Card either.

                  At least with PayPal there are Pay in 4 Protocols in place and I'd imagine if you breach that, they won't advance you more.

                  Credit Card on a Low Income buying things you want now isn't a good plan either.

                  Otherwise, on the example of the OP, put the OLED on Lay-By and collect it when you have paid it off.

                  • ricadam on 16/07/2025 - 10:32
                    +1

                    @holdenmg:

                    …or a Credit Card either.

                    Agree 100%, my recommendation would be to build up a savings buffer in a high intrest savings account and use that as a place to pull the money from and then top that up at the end of the month.

            • angywoo on 16/07/2025 - 22:14

              @John Barosa: Some may say it is cowardly to use a line of credit for Veruca Salt purchases if you can't afford them in the first place.

              This comment demonstrates your need for instant gratification.

              • John Barosa on 16/07/2025 - 22:34

                @angywoo: The day I get my paycheck, I immeditately put it into my shares, which are my life savings. I can afford the items, I just don't have cash, only shares which I can liquidate, but don't want to. 90% of my pay goes into shares, unless I want to buy something that week.

                I'm not an impulse spender. I think about a product for at least 2 weeks, before buying it. And whenever I do buy something, I use it alot. I waited a year before buying a Mac, waited 6 months before buying a new Phone, while my old one couldn't even charge for that period. Waited 3 weeks for my watch, waited 2 weeks for earbuds.

                It's how billionaires spend money. They borrow against equity.

                • angywoo on 16/07/2025 - 22:56
                  +1

                  @John Barosa: There is a difference between being an impulse spender and needing instant gratification…

                  6 months is nothing..I'm still using my 2017 phone on operating system 8.

                  • John Barosa on 16/07/2025 - 23:58
                    +1

                    @angywoo: Okay u win

                    • angywoo on 17/07/2025 - 00:51
                      +1

                      @John Barosa: Anyway, I need to apply for a credit card so I can get a new phone. I don't want to sell my shares to cover it.

                      • John Barosa on 17/07/2025 - 00:53
                        -2

                        @angywoo: Fine then. My phone is broken. I've got 5k in shares, 150 in my acc. What do I (profanity) do? Sell the share and buy the phone? or just use a credit card, and pay it at the end of the week?

                        I'm beginning to think u guys aren't a financially saavy as I thought you were.

                • bcarp on 16/07/2025 - 23:38
                  +2

                  @John Barosa:

                  The day I get my paycheck, I immeditately put it into my shares, which are my life savings. I can afford the items, I just don't have cash, only shares which I can liquidate, but don't want to. 90% of my pay goes into shares, unless I want to buy something that week.

                  Wow, you should get some proper financial advice. Seriously.

  • cuy on 16/07/2025 - 07:20
    +7

    50/50 chance on a $1000 limit (doesn't look good). Your income is WAY too low.

    Savings and shares dont do much in your case except minus any existing debts you may have (assuming which is none).

    Why not just AfterPay/ZipPay/PayPal pay in 4/Pay to?????

    • John Barosa on 16/07/2025 - 07:24
      -4

      I got HECS, but I doubt that counts. U only start paying it off, once u make 70k, so I count it more as a taxation, than debt.

      Don't credit card companies like it when people don't pay their debt, so they can charge 15% pa?

      Oh yeah. I forgot about those. Credit Cards still have other benefits. Good alternatives though.

      • cuy on 16/07/2025 - 07:30
        +2

        HECS negatively impacts your application for CC (unsecured loan). It won't impact as much for a secured loan (IE home loan).

        Doubt you will be approved.

        • John Barosa on 16/07/2025 - 09:41
          -1

          I knew that HECS didn't impact home loans, but didn't know about credit cards. thx

          • joker0701 on 16/07/2025 - 11:47

            @John Barosa: Youre completely wrong there, HECS absolutely effects a home loan, by paying off my partners hecs (15k) we increased our borrowing power by 70k. This was confirmed by 2 separate lenders, and a mate of mine who is a mortgage broker.

  • SBOB on 16/07/2025 - 07:34
    +10

    Incidentally, how long should I work a job, before quitting, to get a good reference? 6 months, a year

    You quit when you already have your next job contract.

  • djsweet on 16/07/2025 - 09:15

    You won't be approved based on your income unless the bank has its screws loose.
    Don't quit your job until you have another one. It doesn't matter how long you have had your current job if you have another in the bag.

  • AustriaBargain on 16/07/2025 - 09:20

    250 a week is less than the dole. Doubt they would give you a credit card.

      • joka on 16/07/2025 - 11:19

        You don't get rewarded by working harder. You get rewarded by working smarter.

        • John Barosa on 16/07/2025 - 13:52
          -2

          Ik. I'm doing this for work experience, not money.

          But they aren't working at all, so why they get?

      • Protractor on 16/07/2025 - 12:27
        +2

        kick out hte poor/mentally ill/homeless/tradies, and force them to fend for themselves.

        What if the powers that be, deem your shit-posting a qualifying factor, and you end up 'outside your wall?

      • Bargain4Days on 17/07/2025 - 19:03
        +1

        Ahh yes, I love modern day slavery, lets kick out the vulnerable, the elderly, the poor and the homeless, hell add tradies there too. Import a bunch of indians to build a wall where? Last time I check, we are a surrounded by water, not sure how viable a wall around Australia would work. Mate you gotta be a troll or get your news from skynews or something. Your 20, it might help being a bit more open minded and less judgmental, everyone has their own personal problems.

        • John Barosa on 17/07/2025 - 21:08
          -4

          I went to school filled 70 percent tradies. I could go on for paragraphs on how irredeemable of human beings 90 percent of them are, and how Indians/Mexicans deserve to do their work, for little pay. But I'm not. Would you rather an Indian wasting his time on uber eats, or an Indian, building a metro line in Melbourne?

          It's not slavery, they'll be treated better here, than they would in India. I'm not saying beat them, or force them to work in dangerous fields. if they build more houses/roads/metros, than they occupy, we can afford to give the WELL BEHAVED ONES PR, and let their children enjoy the fruits of thier parents labor.

          Building a wall around Sydney/Melbourne can be done. Like for Sydney, we could start the wall around Hornsby, have it continue to Blacktown, then go down below Liverpool/Bankstown. America does the same thing, with American cities that border Mexico.

          The Elderly are rich. The Vulnerable maybe shouldn't have become vulnerable. The poor and the homeless are dangerous

          • V2L on 18/07/2025 - 11:47

            @John Barosa: haha please start your own political party and campaign on a wall it'd be good entertainment. but I doubt you'll get much support extending it to blacktown. the north syders will petition to be annexed and have the wall on the west border of hunter's hill up to st ives/wahroonga (keeping out those public housos in gladesville) and have a check point on the harbour/anzac bridge to ensure only those wearing RM Williams can get through northbound

            • John Barosa on 18/07/2025 - 13:59

              @V2L: No one in Australia wants a wall, except for me. I say we FORCE the wall. Get some Lee Kuan Yew policies yah know

              Nah Blacktown is important. IF we kick out all the refugees, the drug dealers, criminals, poor people, etc, it will be a very nice place.

              • V2L on 18/07/2025 - 15:57

                @John Barosa: yeah, it'd be nice when there's no one left
                (grew up in the western suburbs so I can dish it out)

                • John Barosa on 18/07/2025 - 21:04
                  -2

                  @V2L: Where do you think the migrant workers from India will live? We'll kick out all the low lives and force the Indians to make as much skyscrapers as Hong Kong, to make affordable housing for Australians.

                  And the Indians will be on a zero tolerance deportation policy, so one (profanity) up, and they're out. So they'll be good behaved neighbours.

                  I understand/support taking refugees. But I don't understand letting them live in the cities. They're dangerous people.

                  • Protractor on 18/07/2025 - 21:05

                    @John Barosa: You must go fully turgid at the thought of peak Apartheid and slavery.

                    • John Barosa on 18/07/2025 - 21:12
                      -1

                      @Protractor: No. I believe in a giving these people a chance. Singapore has migrant workers, and unlike UAE, they're treated with respect, and seem like nice people.

                      Unlike UAE, we can give these people PR, when they prove themselves, by decades long service. Their children will be given CSP, so they can move up in society.

                      Their lives are already apartheid and slavery. Pretty much all cleaners at my coles are Indians, and are treated like shit, compared to citizens. And the ones doing uber eats, aren't much better. The ones on the education visa, are given 2 years, to find a job, before they're kicked out. Incredibly stressful for them. I'm impressed at these guys' work ethic, they should be given a chance.

  • mjuice7 on 16/07/2025 - 09:37
    +6

    thx you for the hilarious post.🤣 I was able to enjoy a good belly laugh reading through your comments.

    • John Barosa on 16/07/2025 - 09:46

      He who asks is a fool for five minutes, but he who does not ask remains a fool forever.

      • mjuice7 on 17/07/2025 - 16:06
        +1

        youthful pearls of wisdom? 🤣 keep 'em coming. 👍🤣

        • John Barosa on 17/07/2025 - 20:36

          Quoted some dude who probably died 400 years ago.

  • jv on 16/07/2025 - 09:45
    +1

    make at least 250 per week. I have 5k in shares, but only 150 in my bank account. I don't want to take a credit score hit

    What's your credit score? 🤣

    • John Barosa on 16/07/2025 - 09:45

      Idk. I got approved for a loan to buy an S25.

      • jv on 16/07/2025 - 09:46

        What's your credit score?

        • John Barosa on 16/07/2025 - 09:46

          42069

          • jv on 16/07/2025 - 09:49

            @John Barosa: It's between 0 and 1000

            • John Barosa on 16/07/2025 - 09:49

              @jv: It's so low It underflowed

              • jv on 16/07/2025 - 09:50

                @John Barosa: Then you would not have been approved for a loan.

                • John Barosa on 16/07/2025 - 09:51

                  @jv: Well I got approved for it.

                  • jv on 16/07/2025 - 09:52

                    @John Barosa: no you didn't…

                    Not from a bank…

                    Maybe it was cash converters ?

                    • John Barosa on 16/07/2025 - 09:53

                      @jv: It was from Jb Hi Fi. I signed a contract.

                      • jv on 16/07/2025 - 09:54
                        +2

                        @John Barosa:

                        I got approved for a loan to buy an S25.
                        Jb Hi Fi. I signed a contract.

                        and

                        I don't want to take a credit score hit

                        You have contradicted yourself…

                        • John Barosa on 16/07/2025 - 10:04

                          @jv: I paid off the contract the day I got it. It's how I got the phone. I only ended up paying 526. 1k saving, is worth the marginal damage, if any, it did to my credit score

                    • joka on 16/07/2025 - 11:20

                      @jv: It was from the bank of mum and dad. He works hard.

                      • John Barosa on 16/07/2025 - 13:31

                        @joka: Jb hi fi 526 S25 deal. look it up. I got the phone on a contract, which I cancelled

                        And if my parents did pay for it, it wouldn't make any difference lol. Either way i still have the phone.

  • jv on 16/07/2025 - 09:51
    +4

    #TrollPost

    • John Barosa on 16/07/2025 - 09:53

      Out trolled JV I'm honored

      • jv on 16/07/2025 - 09:55

        Member Since
        13/06/2025

        Obviously a ghost account…

        When was your previous account banned?

        • John Barosa on 16/07/2025 - 09:57

          never Just a chronic shitposter on many other forums. Reddit is too easy to get banned nowadays. And I've been on this website for 10 years. I only just made the acc now

          • Paul Atreides on 16/07/2025 - 15:52
            +2

            @John Barosa: you started scrolling through ozb at 10 years old? impressive!

            • John Barosa on 16/07/2025 - 16:14
              +1

              @Paul Atreides: My earliest memory of ozbargain, was in 2012, when I saw my dad using it. I wanted to learn to play the Trumpet, so searched for trumpets on ozbargain, cause I thought it was like Amazon.

              I got my first tablet in 2012 as well, so yeah, on the internet for quite a while. Internet was good for kids back then, cause there was no kid brainrot content, so I enjoyed the same internet as adults. I still remember the good old days of youtube, the Windows XP controversy, Maxmoefoe, Minecraft, linustechtips, the fappening, CGP Grey.

              Content made for kids are so predatory. Giving kids tablets is perfectly fine, but the kid brainrot content isn't. Imo it's better if a 7 year old discovers porn, than watches those toy videos.

  • ricadam on 16/07/2025 - 10:07
    +1

    How much of a limit do you want on the credit card? How much would it take you to save up that amount?

    I say that because in your situation, you may not qualify for a CC, but if you can build a buffer of savings up, you can have that sitting in a high intrest savings account and just pull from that when you need to get something. Then top it back up when you can and then any others savings can go into your shares.

  • Baysew on 16/07/2025 - 10:36
    +4

    You would be most likely declined. - Low income, short time at employment.

  • koplik8 on 16/07/2025 - 12:35

    You don't need a credit card. Just get a better paying job or 2 or 3 jobs and save your money:

    https://www.ramseysolutions.com/debt/excuses-to-keep-credit-…

    • John Barosa on 16/07/2025 - 22:36

      I study full time. I live with my parents. I probably should have mentioned that.

  • Ocker on 16/07/2025 - 12:44
    +3

    What did mum say?

    • holdenmg on 18/07/2025 - 18:36

      eat your vegetables, do your homework and brush your teeth…

  • [Deactivated] on 16/07/2025 - 13:21
    +4

    MAGA and trompet troll!

    • John Barosa on 16/07/2025 - 13:49
      -6

      Oh cmon put on ur panties, Trump supporters do exist, we're just allergic to forums for some reason. I've got relatives, who love Trump, and would vote for him again.

      Me supporting the largest current conservative movement, is no differnt than someone having the pride flag as their pfp, or having the Ukraine flag.

      And even if I am a troll, I do find good bargains, which often make front page. What do you contribute here?

  • Yummy on 16/07/2025 - 14:34
    +1

    $150 won't last you 5 days.

    Can say NO to CC's.

  • try2bhelpful on 17/07/2025 - 15:39
    +1

    What a train wreck.

    • John Barosa on 18/07/2025 - 03:07
      -2

      Ik. Barley any people even answered the question. Am grateful to those who did.

      And lol, people calling me a lazy POS, for asking about best way to manage funds, while calling me a villain, for wanting to cut Centrelink, and other social security services.

      • holdenmg on 18/07/2025 - 06:14
        +1

        Barley is a grain.

      • try2bhelpful on 18/07/2025 - 18:40
        +1

        You barely got any answers because you just got obnoxious and abusive. I was tempted to provide some answers up until I saw some of your comments. Why should anyone waste their time and effort on you?

        • Yummy on 18/07/2025 - 18:51

          obnoxious and abusive

          Children, heh. :D

        • John Barosa on 18/07/2025 - 21:36
          -2

          You think I"m abusive here? You should see my messages to my friends. One of my friends is Chinese, and I regularly praise imperial Japan, and the East Asian co properity sphere. Boy does he not like that.

          • try2bhelpful on 18/07/2025 - 22:21
            +1

            @John Barosa: So you have decided to reinforce that is how you behave. As I said, why should any of us give you any assistance? However, I suspect you will not learn and people will continue to shun you.

            • John Barosa on 18/07/2025 - 22:50
              -1

              @try2bhelpful: People have given me assistance though. Now I know that I make pennies, and that there's no way I'm being given a credit card. Few people helped, most kinda just made snarky comments, probably cause of my political opinions

              • try2bhelpful on 18/07/2025 - 23:00
                +2

                @John Barosa: Maybe you should step back and think about the lesson you should learn from this but I suspect you won’t. When I want assistance or advice I ensure I treat the people I’m asking assistance from with respect. Enjoy not getting out of your rut. Pity because I think you could’ve drawn on a lot of experience here if you had approached this differently.

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