Card Promotions Commonwealth Bank (Ultimate Awards Card) 100K award points – potentially fee free

Let's hope that you can get that debt situation sorted out.
It's just a normal tax assessment where (because my income is investment income that isn't fully franked) some tax is payable.

It's due November 21, and I'll pay it when due. It's a notional debt that falls due on 21st November and will be extinguished the moment it is due 🤣.

The downside of my investment mix, but I'm happy with my choices.
 
that sounds quite unpleasant
It was more frustrating than unpleasant. What was most noticeable was that I found myself checking myself when talking to the front-line staff, because I was getting frustrated - but it wasn't with them, it was with the assessment team, but they were also frustrated with the assessment team, and it seems like they are always frustrated with the assessment team. I think that the front-end team spend their days on the phone talking to customers who are dealing with dumb questions from the assessment team. They do a good job.
one of the conditions for this is to perform 5+ transactions from a transaction account. Do you do these manually or electronically
Electronically. Because I know my current credit card bill will be at least $4000 a month to meet my minimum spend threshold to avoid the monthly fee, I put $1000 in my transaction account 5 days before the due date of the account and make 5 $200 payments to my credit card the next day.

My card is then paid by direct debit from a non-CBA account for the full balance owing (less the $1000 already paid) on the due date.
 
I got knocked back for the Ultimate with 400k at one point 🤣 because 20% of it was supposedly discretionary bonus even though I'd been getting each and every year for the last 5 years. They eventually gave it to me with a $10k limit.

So, they eventually gave me a credit limit of 2.5% of my regular income.

Now I've got no regular income, they give me a credit limit of 25% of my much (much) smaller irregular income.
Likewise. On 400k+, no debt (well, we have a mortgage fully offset bar $1000 and I know that the mortgage value is taken into account not the offset ..... but the mortgage is small), don't churn, credit rating 'Excellent' and had only the Amex Plat Charge/Reserve at the time of applying. Was doing a full banking re-adjustment. Applied for the Ultimate and was knocked back. After discussions with the poor souls who have to deal with these decisions, I was eventually offered an $8500 limit. Excruciating process

At around the same time, applied for the Qantas Titanium and was given a credit limit that I reduced via the App to $50k on the strength of one payslip 🤷🏻‍♂️.

The risk appetite for these two organisations does seem to be somewhat different 😉
 
and had only the Amex Plat Charge/Reserve at the time of applying
At the time I was in a similar situation, I confirmed that I would be approved for a $150,000 car on my Amex platinum card, but not a $175,000 car.

And yeah, similar offers of $60k cards with other organisations.

Yet now, as an unemployed bum, they'll give me 4x the credit limit on 1/4 the income.
 
I suspect the banks now aren't even trying to coverup the type of client they want. High income? Guaranteed full monthly payment? They’re not interested. Dropkick who will pay the minimum and drag on a debt for years? Come on down!
 
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It was more frustrating than unpleasant. What was most noticeable was that I found myself checking myself when talking to the front-line staff, because I was getting frustrated - but it wasn't with them, it was with the assessment team, but they were also frustrated with the assessment team, and it seems like they are always frustrated with the assessment team. I think that the front-end team spend their days on the phone talking to customers who are dealing with dumb questions from the assessment team. They do a good job.

Electronically. Because I know my current credit card bill will be at least $4000 a month to meet my minimum spend threshold to avoid the monthly fee, I put $1000 in my transaction account 5 days before the due date of the account and make 5 $200 payments to my credit card the next day.

My card is then paid by direct debit from a non-CBA account for the full balance owing (less the $1000 already paid) on the due date.
Thank you for the tips. I may give this card a go. You've confirmed that the electronic scheduled payments should work, which is what I was after.
Post automatically merged:

It's just a normal tax assessment where (because my income is investment income that isn't fully franked) some tax is payable.

It's due November 21, and I'll pay it when due. It's a notional debt that falls due on 21st November and will be extinguished the moment it is due 🤣.

The downside of my investment mix, but I'm happy with my choices.
It's good that this is all OK.
 
A bit of a side note, but for CBA Awards holders, looks like a up-to 15% Velocity transfer bonus is on now until 26th Sept 2024

CommBank Awards - Partner Terms and Conditions.

Velocity 15% Bonus Points Offer​

  • Velocity members will receive 10% bonus Velocity Points when they transfer up to 50,000 Awards points and 15% bonus Velocity Points when they transfer 50,001 or more Awards points into Velocity Points in one transaction between 12:01am AEST 11 September 2024 and 11:59pm AEST 26 September 2024 (“Promotion Period”).
 
Guaranteed full monthly payment?
Absolutely.

CBA used to have a form to allow you to set up a direct debit payment out of a non-CBA account on their website. Now, it's not listed, not mentioned in help, and basically, they dont' tell you it's possible.

I know it is because I do it.

When I went into a branch (to submit a form for a secondary card holder) the meet and greet guy actually told me it wasn't possible (but, to be fair, I guess that's why he's the meet and greet guy), but I could to it out of a commonwealth account, or I could set up regular payments by BPAY if I want.

When I said "I know it's possible because it's actually happening right now for an existing CBA credit card, and I'd like to set it up for a new card" he then told me - incorrectly - that you can't set it up anymore.

The staff member that I ended up talking to, to set up the secondary card holder did know about the process, and set it up, but I swear that they are doing everything they can to make it as difficult as possible to pay off your full closing balance.
 

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