QANTAS to launch their own credit card in tie-up with Citibank

[slinky123]

I have tried to contact them through the "Contact us" web form and the form doesn't work.
Totally useless, there isn't even a way to contact them, since the initial email to say they will contact me says "please do not reply to this email" LOL

 

[PaulST]

I have tried to contact them through the "Contact us" web form and the form doesn't work.
Totally useless, there isn't even a way to contact them, since the initial email to say they will contact me says "please do not reply to this email" LOL

Have you tried ringing them?
1300 992 700

 

[ffhound]

I applied two days ago also. I had the same problem with their being no finish button. I rang them yesterday and they asked me to email the payslips to them which I did. Approval came through by SMS today. Yay!

 

[DC3]

Phone 1300 416 977, for me.

 

[EestiTiger]

Considering how poor the security is on the Qantas website, I am a bit surprised I need to receive a SMS for logging into both the android app or website. Not an issue if I am in Australia, but I haven't bothered turning on roaming for a few years due to whatsapp and fb messenger. Anyway good to see them taking security a bit more serious - finally!

 

[Gold Member]

27 pages later I think we can all agree that this card application is difficult, to say the least. IMHO, the issue is entirely directed at cough1bank who I've commented about many times before. I will not be applying for this card as a matter of principle purely because it's cough1bank who take you through the royal sampler of botty expeditions and once you've got the card, they continue that coughty experience via script monkeys from the Phillipines.

There are plenty of other better credit card deals available on this sub-forum.

 

[pyffii]

Totally agree that the application process is seriously flawed....Qantas Money rang my accountant and they were even more confused after trying to grill him as their template doesn't allow self managed Superfunds and the way pensions are paid !!
its been over 48 hours since the application process began and even though we have a perfect credit history meaning no late payments or defaults I am sure we will be denied....as others have said there are better credit cards around but I am at the stage of forgetting the whole idea of getting new credit cards

 

[PaulST]

It's definitely a <1 year card.
The next question will be to see how difficult it is to setup an auto direct debit to pay off your monthly balance. Some banks are incredibly easy but NAB, on the other hand, still haven't setup my auto direct debit and I've been with them since late last year. I'm exciting something similar from this card. Once this QF card arrives I expect I'll dump NAB and use QF for non-Amex shops and my Amex Ultimate for everything else. Then cancel QF later this year and replace it with the HSBC Visa. Everything is planned out...

 

[sumthinfornuthin]

It's definitely a <1 year card.
The next question will be to see how difficult it is to setup an auto direct debit to pay off your monthly balance. Some banks are incredibly easy but NAB, on the other hand, still haven't setup my auto direct debit and I've been with them since late last year. I'm exciting something similar from this card. Once this QF card arrives I expect I'll dump NAB and use QF for non-Amex shops and my Amex Ultimate for everything else. Then cancel QF later this year and replace it with the HSBC Visa. Everything is planned out...

I work for my own small business. they rang me to confirm my income declared was correct.
Same deal with my wife and her SMSF pension not considered.
I think the point capacity sounds good. I applied for a $ 10K limit. no point spending any more per month

 

[cove]

We already have Citibank CCs with autopay. When we first started with them we had early issues so you could have this. I learned that calling them infrequently was the best idea.

 

[JohnPhelan]

Then cancel QF later this year and replace it with the HSBC Visa. Everything is planned out...

Bear in mind there's a much lower 1:1 spend on HSBC Visa - monthly limit is $2,500.

 

[Limewood]

I work for my own small business. they rang me to confirm my income declared was correct.
Same deal with my wife and her SMSF pension not considered.
I think the point capacity sounds good. I applied for a $ 10K limit. no point spending any more per month

In your case was it easy to complete and info they required?.

 

[Jacques Vert]

Totally agree that the application process is seriously flawed....Qantas Money rang my accountant and they were even more confused after trying to grill him as their template doesn't allow self managed Superfunds and the way pensions are paid !!

Indeed. In my experience few, if any, banks understand the whole smsf thing. The fact that they ask for pre-tax income confirms that: try explaining to the work experience kids in some foreign call centre that you receive a monthly pension larger than their annual income but pay no tax.

I've received 2 phone calls so far; in one of them the agent told me they don't consider dividends as part of your income. What? Someone could have $5,000,000 in shares and receive 200k in dividends per year but they would prefer someone earning 40k from a "regular job".

 

[pyffii]

Indeed. In my experience few, if any, banks understand the whole smsf thing. The fact that they ask for pre-tax income confirms that: try explaining to the work experience kids in some foreign call centre that you receive a monthly pension larger than their annual income but pay no tax.

I've received 2 phone calls so far; in one of them the agent told me they don't consider dividends as part of your income. What? Someone could have $5,000,000 in shares and receive 200k in dividends per year but they would prefer someone earning 40k from a "regular job".

exactly....its insane !!!

 

[Mrmaxwell]

27 pages later I think we can all agree that this card application is difficult, to say the least. IMHO, the issue is entirely directed at cough1bank who I've commented about many times before. I will not be applying for this card as a matter of principle purely because it's cough1bank who take you through the royal sampler of botty expeditions and once you've got the card, they continue that coughty experience via script monkeys from the Phillipines.

There are plenty of other better credit card deals available on this sub-forum.

As someone who has dealt with Citi on numerous occasions I can confirm their service is hopeless. If nothing goes wrong and you never need to contact them great...but god help you if your card is lost, incorrect fees are charged or you need any kind of assistance whatsoever the pain will start.

Citi are not a true bank, they are finance shell company with all Oceania support operating out of Manila and the service in my experience is pathetic.

Qantas have simply loaned their name to the lowest bidder for card services - let the games begin.

 

[Jack_OC]

I've received 2 phone calls so far; in one of them the agent told me they don't consider dividends as part of your income. What? Someone could have $5,000,000 in shares and receive 200k in dividends per year but they would prefer someone earning 40k from a "regular job".

That's obviously an extreme example, but dividends are not guaranteed income. Shares are also complicated by the fairly widespread use of margin loans, which can see an apparently healthy share portfolio disappear quickly if the market goes south. I'd be surprised if they ignore dividend income altogether, but my guess is they adjust it downwards (significantly) to account for the risk, which is fair enough. As always, I'd take anything that Citibank call centre staff say with a large grain of salt.

BTW, on a somewhat related note, banks generally don't count bonuses, even if you have been given a bonus every year by your current employer.

These policies can be frustrating, but I have to say I understand where they are coming from.

 

[pyffii]

That's obviously an extreme example, but dividends are not guaranteed income. Shares are also complicated by the fairly widespread use of margin loans, which can see an apparently healthy share portfolio disappear quickly if the market goes south. I'd be surprised if they ignore dividend income altogether, but my guess is they adjust it downwards (significantly) to account for the risk, which is fair enough. As always, I'd take anything that Citibank call centre staff say with a large grain of salt.

BTW, on a somewhat related note, banks generally don't count bonuses, even if you have been given a bonus every year by your current employer.

These policies can be frustrating, but I have to say I understand where they are coming from.

Really !!!....Is there any guarantee that your employer wont face hard times and even
bankruptcy and then no wages or salaries will be paid and then no credit card repayments !!

 

[PaulST]

Bear in mind there's a much lower 1:1 spend on HSBC Visa - monthly limit is $2,500.

True, although 80% of my spend goes on the Amex so the 'non-amex' card is rarely used (other than when I'm trying to hit the min. spend for the sign-up bonus ).

 

[Jack_OC]

Really !!!....Is there any guarantee that your employer wont face hard times and even
bankruptcy and then no wages or salaries will be paid and then no credit card repayments !!

No guarantee of course, but it's a much lower risk, and that's the key factor in credit applications. Also, a large proportion of permanent employees who lose their jobs get redundancy payments and find new jobs before too long.

Conversely, the companies in which you hold shares are not obliged to pay any sort of dividend, never mind pay a pre-defined amount. If they pay less than you're expecting, or nothing at all, there is nothing you can do about it, other than sell the shares. And, if something has caused the company to suddenly reduce dividends, it's a good bet that the value of the shares will have fallen substantially too. When stuff like this happens to investors, there is no equivalent of a redundancy payment or finding a new job. I'm sure none of us have forgotten what happened to our share portfolios for a few years during and after the GFC.

As such, someone who is largely or entirely reliant on dividend income is clearly a greater risk than someone earning a similar amount from a salary. As I said previously, I do not believe that means dividend income should be ignored completely, but it makes sense for them to take the view that $40k of dividend income is not equivalent to a $40k salary (for example).

 

[tgh]

Dividend income from a typical , well balanced and structured , au share portfolio is a very stable and reliable income stream.
Dividends fluctuate in a stable and quite predictable fashion.
Even through difficult times such as 2009 , dividend streams were not greatly affected even though the share valuations had plunged.