Credit cards you are cancelling post 2017 changes

[get me outta here]

Great thanks. I'm cancelling the NAB QF Rewards Premium. I negotiated the 50K QF over the phone and 1st year fee free when I rang to cancel the previous NAB VA card. Spoke to the Cards Retention Team.

I can't remember which thread it was in, but here's one I used for cancelling an ANZ card just today:

In reference to account number **** **** **** ****



"Dr Ralph
Wollongong NSW 2500


September 28, 2017


ANZ Credit Cards
PO Box 607
Melbourne VIC 3001



Dear Sir/Madam,


I write to request that you cancel my ANZ Frequent Flyer Black credit card account with your organisation immediately.


I will not be liable for any further transactions following 14 days of the date of this letter.


You should provide a final statement within 14 days of the date of this letter.



Yours sincerely,




Dr Ralph"

PS. Which NAB card are you cancelling?

 

[Dr Ralph]

Great thanks. I'm cancelling the NAB QF Rewards Premium. I negotiated the 50K QF over the phone and 1st year fee free when I rang to cancel the previous NAB VA card. Spoke to the Cards Retention Team.

No problems.

I'm having a very average year churning cards, especially with having been OS for around about 4 months so far.

But I've been back in the country for less than 24 hours and have already cancelled my ANZ Frequent Flyer Black card. Now waiting out the 12 months exclusion for ANZ. I held the card longer than I would have liked but needed it whilst OS.

 

[ellen10]

No problems.

I'm having a very average year churning cards, especially with having been OS for around about 4 months so far.

But I've been back in the country for less than 24 hours and have already cancelled my ANZ Frequent Flyer Black card. Now waiting out the 12 months exclusion for ANZ. I held the card longer than I would have liked but needed it whilst OS.

Good cancelling letter Dr Ralph,

It reminds me I need to cancel my ANZ Platinum card.

 

[Saintza]

Have recently cancelled ANZ FF Black and Qantas Amex Ultimate, on the WBC Black at the moment.

 

[theblank]

I would have thought from all of the information contained on this site it was reasonably obvious. But I'll add I have spoken to several brokers and banks when I refinanced my home loan within the last 3 years.

and not one of these persons that you spoke to actually approves loans. Nor would they speak to the persons that do, nor would they have any training in that regard (fossil bank managers come mortgage brokers excepted)

Every one of them stated categorically and unambiguously that how many cards you have applied for was a factor in whether a loan was granted or not.

Yet it wasn't a factor for you.

When I did eventually refinance with U Bank they were satisfied with my explanation about churning as to why I had a very large number of applications over the past few years

.

which is *exactly* what I said the lender would do. I wonder how I knew that?

They didn't ask because they were looking for a reason to decline the loan, they asked because they want to approve the loan < Key point.

When making a loan decision the lender has to be seen to have lent responsibly. Any recent credit enquiry not revealed on the application form would always result in the lender asking 'why'? in case you left something out by accident, rarely is the answer required in writing because asking the question is enough to demonstrate the lender has acted responsibly.

Apart from that, they couldn't give a cough, because they wont lose money on a home loan deal. < not that they will ever admit that out of school.

So to make a blanket claim of 'If you want a home loan it wont make any difference how many credit cards you have applied for' is just not true. How many cards you have applied for IS a factor.

Its a fact that how many cards a person applied for is revealed but in the scale of things its not going to sway a decision one or another. Therefore this 'factor' remains irrelevant. Nobody ever gets declined for a home loan because of anything in the credit enquiry except for Undischarged Bankrupt, and Unpaid Loan defaults. Anything else that doesnt add up, or seems out of place will be a question back to the borrower.

Your credit score is a factor in determining whether you'll get approved for a loan.

this artificial credit score that is being created and marketed to the general public has no impact on home loans as its calculated on almost nothing thats actually relevant. The mass media and general public is totally misguided in this area, Lenders do their own assessments using the important factors, like serviceability.

I have indicated that the statement 'If you want a home loan it wont make any difference how many credit cards you have applied for' is wrong. In fact it is completely wrong and misguided. I stand by my earlier statement.

The proof of the pudding is in the eating.

Can I suggest that you speak to a bank or a mortgage broker for further information if you are thinking of applying for a loan.

No need, you have already proven that credit card chasing has no effect to the prospects of getting home loans.

 

[cjm007]

how do you all keep track of when you last cancelled your card. I don't remember when I last did the ANZ black card so not sure if i can reapply again (1 year later) or not. Can you call ANZ and get confirmation?

 

[jbman]

how do you all keep track of when you last cancelled your card. I don't remember when I last did the ANZ black card so not sure if i can reapply again (1 year later) or not. Can you call ANZ and get confirmation?

They post a letter to confirm the cancellation.
I just add the cancel date in my calendar so I can reference it

 

[theblank]

how do you all keep track of when you last cancelled your card. I don't remember when I last did the ANZ black card so not sure if i can reapply again (1 year later) or not. Can you call ANZ and get confirmation?

your ANZ internet banking login will still be active, even if you dont have any bank accounts.
Just login, and check when the last statement issued.

 

[LadyC]

They post a letter to confirm the cancellation.
I just add the cancel date in my calendar so I can reference it

I do a similar thing. Need to make a note as I am churning a few at the moment.

 

[Dr Ralph]

your ANZ internet banking login will still be active, even if you dont have any bank accounts.
Just login, and check when the last statement issued.

Mine wasn't. I keep a spreadsheet which details all of my card applications/cancellations.

 

[Kangol]

I can't remember which thread it was in, but here's one I used for cancelling an ANZ card just today:

I had one of yours from earlier in the year - what was the reason for adding in the 14 day part?
In the past I have mentioned that I would not be liable for any transactions effective immediately (this is with a zero balance) - can this be extended to 14 days now?

 

[Dr Ralph]

I had one of yours from earlier in the year - what was the reason for adding in the 14 day part?
In the past I have mentioned that I would not be liable for any transactions effective immediately (this is with a zero balance) - can this be extended to 14 days now?

Probably going soft in my old age!

But I thought it reasonable given how extensive postal delay has now become.

 

[get me outta here]

Cancelled ANZ Rewards Adventure. First, booked the free flight, then asked them to transfer (fewer than min points to Velocity - success), ordered lounge passes and then cancelled the card with no resistance from ANZ.

 

[Scr77]

....I keep a spreadsheet which details all of my card applications/cancellations.

+1 to this. A spreadsheet is a must in this game. Mine also has earn rates, min spend requirements, date bonus points should be awarded by etc. It’s also worth listing all direct debits so when you cancel a card you know that it is not in use.

 

[mviy]

Fortunately I have very few direct debits so I don't have to keep track of them in a spreadsheet yet. I'm sure it will get to that point at some point.

Going to keep on cancelling my points earning cards so long as I can keep switching to other cards on a reasonable deal.

 

[Melburnian1]

moopere asked a good question on 28 September 2017 to which no one has responded.

Has there been an upsurge of interest in AMEX cards issued by it (and not through banks like NAB) since various banks indicated that they'd be cancelling AMEX cards due to the RBA interchange regulations altering?

 

[woodyren]

I cancelled my NAB Signature a few days ago. ....Of course applied for and was approved for another one 3 days later. Just checked my spreadsheet and I have been gifted 210K Velocity points, 160K rewards points (transferred to Velocity @ 15% bonus time) and now 190K Qantas points for annual fees of $1230 but I received an annual fee reimbursement for late pts allocation of $250 so its actually under $1000. This is since I stumbled on this great site and started collecting in late 2015.

 

[Buzzard]

Westpac gone.
ANZ Black gave me a free year so I'll keep it, I can give the lounge passes to someone deserving.
NAB will be going in February when the AMEX is withdrawn.

 

[albyd]

I reversed my downgrade of Westpac Black yesterday interested to see what the Amex conversion offer is before I downgrade it back to $30 card.

 

[mviy]

ANZ Black gave me a free year so I'll keep it

I cancelled my ANZ Black for the second time. The sooner you cancel the sooner the 12 month exclusion period starts. I want to get the sign up bonus again.