Recent content by suki

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    New Credit Card When Retired

    You are correct about which people they target. The profit margin on credit cards is driven purely by interest charged and all the financial modeling is based on this and assumes a certain number of people default. It’s hugely profitable which is why banks are now worried about the rise of...
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    New Credit Card When Retired

    This was the argument I put to the credit assessor. Any employee could lose their job tomorrow so who is more likely to be able to pay credit card debt, me with high cash assets or someone with a family, bills and probably a mortgage? Nope. If you don’t fit into their algorithm it’s almost...
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    New Credit Card When Retired

    I am over 67. Sadly the inability to obtain credit cards isn’t widely known so the advice to those on this forum is to get the cards you think you might want, and also obtain higher credit limits whilst you can.
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    New Credit Card When Retired

    Two things: 1. the people checking my data wanted my last two years tax returns so no go on the last 3 months of income and 2. If you reduce a card limit the danger is not getting the same limit back, this actually happened to me. Banks and credit companies are getting more stringent in their...
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    New Credit Card When Retired

    Once in the pension phase, you can no longer contribute regardless of the SMSF balance. Anyway, by ‘too difficult’ I mean it was harder than applying for a mortgage, and it was not the first time I had tried. I eventually stopped bothering because it wasn’t worth the hassle. I have 2 very good...
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    New Credit Card When Retired

    Once in the pension phase you can’t take money out and then put it back in. Also the people in the decision making process wanted the last 2 years tax returns. In the end it’s all too difficult.
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    New Credit Card When Retired

    Nope, I did this, my problem is that I have an SMSF and have chosen to only take the minimum monthly pension from the fund. Those assessing my creditworthiness could not be convinced that I could increase the amount payable at any time, as I am the trustee of my own fund. As the amount pops up...
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    New Credit Card When Retired

    Another tip, as advised to me by my banker: after you have retired, do not cancel any cards or reduce your credit limit on your cards unless you really have no intention of using them, it’s almost impossible to get them back.
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    New Credit Card When Retired

    Unfortunately this is the case for almost all retirees. I have a$1.2 million property and $1 million in super with no dependents, and excellent credit rating, no debt of any sort and minimal outgoings (mainly travel). I couldn’t get any new cards except the most basic and with a ver low credit...
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    Odd letter with new Qantas Gold card

    Although it makes no difference in the long run, I had the exact same letter even though I had already qualified for gold status. It makes me feel as though I should be grateful even though they cancelled my flight that would have given me platinum status!
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    Qantas improves conditions on vouchers

    I have a voucher and I need to know if Qantas will treat it as cash. For example, if they have double status credit promotion and I use my voucher, will it be honoured for this?
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    Cathay vs. Emirates

    For 2:40 it is not worth the extra. Also hotels in BKK are much cheaper than HKG, as are bars and restaurants. I lived in HK for years and I have been in BKK many times as well so love both places. Weather is better in HK at this time of year though.
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