ANZ Platinum, 50k bonus QFF points after $1500 spend, no annual fee first year

[nanks85]

Nanks whenever dealing with banks you need to be pro-active - don't just accept what you read or might think appears in T & C's - the big 4 appear hungry for customers recently.

I previously held Altitude Black and then Westpac trundled out the 2 x pts offer for 3 mths for new customers. I called Westpac and asked would they give me 2 x pts on existing card for 3 mths and if not I would cancel and go get an ANZ Black Card.

Their response was we cannot give you 2 x pts with existing card - but apply again for new card and we will track progress - once new card issued we will roll existing balance into new card and cancel old - that way you will get the 2 x pts.

So might I suggest you just call ANZ and tell them you want to apply for new card and you expect the bonus pts and if they don't accommodate you tell them you are off to Westpac Black - again there is no down side - the worst they can say is no.

thanks for the advice

 

[Alanslegal]

My $1,000 basic frequent flyer card has been approved after being 'referred' for close to a week. I don't know why they took so long given I am an existing customer for over 10 years and have had credits card with them in the past, including a current platinum card.

Also for those wondering if this application may affect your credit score, well ANZ did a Veda check and is now listed on my history. As its listed I guess my Veda score might drop at its next monthly review now that I have a new credit card check, plus a recent investment loan check.

 

[timb11]

Also for those wondering if this application may affect your credit score, well ANZ did a Veda check and is now listed on my history. As its listed I guess my Veda score might drop at its next monthly review now that I have a new credit card check, plus a recent investment loan check.

Thanks Alanslegal, can you advise if your VEDA score does indeed drop after this months check? Thanks!

 

[ejd711]

I now have email confirmations for the Black and the standard FF cards. It took 10 mins for the black to be approved, and 3 days for the standard to be approved with a $2K limit. Must have been because it was the second application. Why they let you do two is beyond me - why would I want a black set of cards and a standard set of cards (other than the obvious)?

 

[burmans]

Thanks Alanslegal, can you advise if your VEDA score does indeed drop after this months check? Thanks!

Don't want to preempt Alanslegals response but given Veda themselves state that recent applications is a factor in determining score would say it's almost certain there will be a drop. Perhaps what interests me more is how much it drops and then how long before it goes back up.

 

[Beta4Me]

I get a Vedascore every month so I can see the exact impact within 30 days.

 

[flyrod]

Most people on this thread that were successful received an email confirmation. I didn't, the first advice I had of success was when the cards and separate welcome letter arrived (on the same day).
So be patient, I applied on Monday last week , provided the required evidence by email straight away, and the cards arrived on Friday

 

[opusman]

Has anyone who already had this card tried to get a similar deal from ANZ?

 

[Cruiser Elite]

Has anyone who already had this card tried to get a similar deal from ANZ?

I have had every ANZ prem combo they have offered in last 3 or 4yrs - have always banked pts then cancelled - just waiting approval this one - they asked tax confirm post applic.

 

[Bazzi]

Just applied for this for my partner, asked for a 5k limit, approved with a 1k limit - not sure how they fathom that with a 50K+ income, no credit card debt, 90% equity in our house, savings in the bank and no other loans - can only think it is was the 40k available credit on 2 other cards (small by today's standards I would think) that was the determining factor. Anyway, very happy with the outcome for 5 mins work.


I'm going to take Cruiser Elite's advice and either apply myself despite already having both ANZ Plat Rewards and QFF cards or ask for a loyalty bonus given I've had one of the visa cards for 35 years - nothing to lose.


One EK DXB SIN J seat for next year almost in the bag, one to go.

 

[Keith009]

Activated my ANZ Rewards login over the phone and received temporary password.
Tried to login with temporary password. Got a web error (error code 005). Call centre agent has "not seen this before" and had to log a ticket with IT. Told to expect a call back in 3 business days.

Good news is that it doesn't affect my actual Rewards account, this is just the online access and I can still redeem over the phone (though a bit of a PITA to have to ring up to check Points balance). I was told the bonus Points will be posted on the 4th Statement after I make my eligible purchase.

And 1 week plus 5 million attempts later I've managed to get into ANZ Rewards. Then I faced an issue with the website deeming my proposed new password invalid even though it meets all the requirements, until I set it with all the alphabets in uppercase and it worked... Go figure.

 

[Alanslegal]

Thanks Alanslegal, can you advise if your VEDA score does indeed drop after this months check? Thanks!

I am expecting a drop in my score. I have two checks in the past few weeks so it would definitely impact on it.

Don't want to preempt Alanslegals response but given Veda themselves state that recent applications is a factor in determining score would say it's almost certain there will be a drop. Perhaps what interests me more is how much it drops and then how long before it goes back up.

That's right and is one of the various factors they take into consideration when assessing your credit score.

From Veda's site;

The details in your file that may influence your overall score include:

• Your payment history, that is, are there any overdue debts listed on your credit file
• Number of credit enquiries on file
• Number of credit enquiries in last year
• Types of credit applied for
• Shopping pattern, that is, number and type of lenders you have approached for credit
• The dollar amount you are applying for
• Public data including court judgements or court writs
• Defaults including how many, whether they are paid and how recent they are

Also from their site;

Avoid unnecessary applications for credit

• When shopping around for credit, do your homework before you apply. Don't provide your personal identity data until you have done your research and found the best deal. Otherwise, each credit provider you apply with may conduct an enquiry on your credit file. Multiple enquiries can make it look like you are trying to get lots of new loans, not just one. Many credit providers view multiple enquiries in a short space of time negatively and also is a major cause for lower VedaScores
• Only apply for credit when you really need it - Avoid applying for credit when you aren’t really sure you need or want the credit

 

[Jack_OC]

Just applied for this for my partner, asked for a 5k limit, approved with a 1k limit - not sure how they fathom that with a 50K+ income, no credit card debt, 90% equity in our house, savings in the bank and no other loans - can only think it is was the 40k available credit on 2 other cards (small by today's standards I would think) that was the determining factor. Anyway, very happy with the outcome for 5 mins work.

I'm very surprised they approved it at all TBH! AFAIK, credit card applications are assessed based on an individual's circumstances - ie I don't think they take into account the total household income/assets/liabilities, just the applicant's share. A total credit card limit of $40k is certainly not low for someone on an income of $50k. If your partner ran up $40k of credit card debt, it would be virtually impossible to pay that off from a salary of $50k.

I know there are other ways of paying off credit card debt, eg with savings or by borrowing against your home (or even selling your home), but I'm surprised if lenders would extend credit on the assumption that one of those methods would be used to pay off credit card debt.

BTW I'm not having a go at you - not too long ago I had a total credit limit that was well beyond what I could have repaid, simply because banks threw those limits at me, so to speak! In practice I never went anywhere near that limit, and I'm guessing the same is true of you/your partner. However, l do wonder how someone from a bank could objectively justify giving someone a credit card limit that is almost equal to their entire after tax annual income.

 

[amaroo]

I'm very surprised they approved it at all TBH! AFAIK, credit card applications are assessed based on an individual's circumstances - ie I don't think they take into account the total household income/assets/liabilities, just the applicant's share. A total credit card limit of $40k is certainly not low for someone on an income of $50k. If your partner ran up $40k of credit card debt, it would be virtually impossible to pay that off from a salary of $50k.

I know there are other ways of paying off credit card debt, eg with savings or by borrowing against your home (or even selling your home), but I'm surprised if lenders would extend credit on the assumption that one if those methods would be used to pay off credit card debt.

BTW I'm not having a go at you - not too long ago I had a total credit limit that was well beyond what I could have repaid, simply because banks threw those limits at me, so to speak! In practice I never went anywhere near that limit, and I'm guessing the same is true of you/your partner. However, l do wonder how someone from a bank could objectively justify giving someone a credit card limit that is almost equal to their entire after tax annual income.

The banks don't want you to pay it off. They love double digit interest rates......

 

[Jack_OC]

The banks don't want you to pay it off. They love double digit interest rates......

I agree, but they also don't want people to end up bankrupt. A quick glance towards the US or Europe would give them a nice illustration of what happens to banks when lots of their customers find themselves unable to service their debts!

 

[burmans]

I agree, but they also don't want people to end up bankrupt. A quick glance towards the US or Europe would give them a nice illustration of what happens to banks when lots of their customers find themselves unable to service their debts!

Correct, though servicing your debt and paying the loan off are totally different things. A customer who is only making minimum payments (but makes them regularly and on time) is regarded as a good customer by most banks.

 

[Jack_OC]

Correct, though servicing your debt and paying the loan off are totally different things. A customer who is only making minimum payments (but makes them regularly and on time) is regarded as a good customer by most banks.

You're absolutely right. However, in this example, just servicing the debt would be extremely difficult if the cards were maxed out. The minimum payment on a total debt of $41k would be $820 per month - almost 25% of take home pay from a salary of $50k.

And when you consider that someone has to spend a lot more than 100% of their take home pay in order to run up a large credit card debt, spending cuts of even more than 25% would be required once the credit runs out. For example, if they had been spending an average of $4,000 per month (excluding credit card minimum payments), they would then have to suddenly reduce their spending by 35% once the credit limit was reached in order to make ends meet. Or if they had been spending an average of $5,000 per month, they would then have to suddenly reduce their spending by almost 50% once the credit limit was reached.

In reality, someone in that situation would most likely have to rely on something else to keep their head above water - e.g. eat into their savings, sell assets, get cash from a partner or a relative, or take out a new loan - but I don't think a credit limit should be so high that one or more of those options would be required to make ends meet if the limit was reached. Just to reiterate, I'm not criticising anyone for accepting these limits - as I said I've done it myself, and since I'm able to manage my finances properly it's never been an issue. I just thought lenders were now supposed to take responsibility for the appropriateness of credit they offer, rather than relying on their customers' self-discipline!

Anyway, I guess ANZ would argue that they aren't really the problem, as they have only provided 2.5% of the total limit - the fact that one of the other lenders brought the total up to $40k is probably more surprising.

 

[Bazzi]

I'm very surprised they approved it at all TBH! AFAIK, credit card applications are assessed based on an individual's circumstances - ie I don't think they take into account the total household income/assets/liabilities, just the applicant's share. A total credit card limit of $40k is certainly not low for someone on an income of $50k. If your partner ran up $40k of credit card debt, it would be virtually impossible to pay that off from a salary of $50k.

I know there are other ways of paying off credit card debt, eg with savings or by borrowing against your home (or even selling your home), but I'm surprised if lenders would extend credit on the assumption that one of those methods would be used to pay off credit card debt.

BTW I'm not having a go at you - not too long ago I had a total credit limit that was well beyond what I could have repaid, simply because banks threw those limits at me, so to speak! In practice I never went anywhere near that limit, and I'm guessing the same is true of you/your partner. However, l do wonder how someone from a bank could objectively justify giving someone a credit card limit that is almost equal to their entire after tax annual income.

Yes, I see your point. We have a massive amount of available credit between our individual and joint credit cards - all increases offered by the card providers - I have only once asked for a limit increase in 35 years. Like you, we are responsible with our spending and pay our cards out each month - we are just hunting points to fly like everyone else here. Interestingly, my partner applied for the Velocity Visa card, was approved on same criteria and given a $16k limit. Go figure!

 

[ellen10]

Received my welcome pack and letter in the mail for my platinum card.
Said cards will arrive in the mail in 3-5days.
Very quick turnaround.

 

[TomVexille]

Still waiting here...