HSBC Platinum 60,000 $199 fee

[Lawrage]

Just noticed this in the terms and condition:

"Bonus points will be credited within 2 months of eligible spend criteria being met."

Hopefully they may post sooner.

Thanks fingers crossed.

 

[Dr Ralph]

Thanks fingers crossed.

Yep. Would be good if they did. Given the offer doesn't close until the end of the year if the points posted quickly you could cancel the account and reapply under the same offer.

 

[Lawrage]

Yep. Would be good if they did. Given the offer doesn't close until the end of the year if the points posted quickly you could cancel the account and reapply under the same offer.

There is this little snag though "Offer available to new customers who apply by 31 December 2016."

Just realised this Visa gives 1 point per $ spend, pretty sure none of my other cards give this much (non amex that is)

 

[Dr Ralph]

There is this little snag though "Offer available to new customers who apply by 31 December 2016."

That's standard.

I will be a new customer again after I get the points for the current offer and then cancel my account.

I've done this 3 times within an offer period for a Jetstar credit card.

 

[Lawrage]

That's standard.

I will be a new customer again after I get the points for the current offer and then cancel my account.

I've done this 3 times within an offer period for a Jetstar credit card.

Ok thats quite impressive. So those are more of a guideline then.

 

[Lawrage]

You know what il give that a try when they post.

Just applied for the Mrs, instant approval, cards are on the way apparently.

 

[hb13]

That's standard.

I will be a new customer again after I get the points for the current offer and then cancel my account.

I've done this 3 times within an offer period for a Jetstar credit card.

So you actually got 3 lots of sign up bonuses??!?!?

How is your VEDA score?

 

[Dr Ralph]

How is your VEDA score?

Fine thanks.

I dont know why people obsess over their 'scores'. Many financial institutions either dont care or dont even check VEDA in assessing your application.

Income and ability to repay are the critical things.

 

[boomy]

Fine thanks.

I dont know why people obsess over their 'scores'. Many financial institutions either dont care or dont even check VEDA in assessing your application.

Income and ability to repay are the critical things.

Well said!

I've been applying for every card possible and never had any issues getting loans approved from my bank.

 

[Cadboy]

So does that fact that it does not exclude customers who have held a HSBC card is the last 12 months mean this card is churnable?

 

[Dr Ralph]

So does that fact that it does not exclude customers who have held a HSBC card is the last 12 months mean this card is churnable?

I don't know what you mean by 'churnable' in your sentence.

When people normally discuss churning credit cards they mean that they get a card, get the bonus points and then cancel that card and get the next one.

The 12 months exclusion period only has a relevance if you can't move onto another card because you are waiting out a limitation period.

There are so many card offerings available that the 12 month exclusion period isn't really relevant. Byt hte time you've gone through the cycle it will be time to get back to any that had an exclusion period.

 

[hb13]

Fine thanks.

I dont know why people obsess over their 'scores'. Many financial institutions either dont care or dont even check VEDA in assessing your application.

Income and ability to repay are the critical things.

Well actually I have only heard the Veda score is a big factor. I'm still trying to learn these things. It's really good that it is not a factor, because my income and ability to repay is not an issue.

A question - what number of CC applications a year would you say one can make without creating any issues? If I applied for 7 or 8 a year - do you know of people that apply for that many in a year?

 

[hb13]

If you don't mind me asking, and I understand if you don't answer - generally how many cards do you apply for a year?

 

[Dr Ralph]

Well actually I have only heard the Veda score is a big factor. I'm still trying to learn these things. It's really good that it is not a factor, because my income and ability to repay is not an issue.

At no stage did I state that a VEDA score is 'not a factor'.

A question - what number of CC applications a year would you say one can make without creating any issues? If I applied for 7 or 8 a year - do you know of people that apply for that many in a year?

I would say that 7 or 8 is not a large number of applications.

This thread details peoples experiences with credit card applications over the last year:

http://www.australianfrequentflyer....otions/cards-have-you-applied-year-77757.html

I normally make around 12 applications a year. Although I'm a little behind this year as I've not been able to dump my AMEX cards like usual - the cash back rewards have just been too generous lately.

 

[Dr Ralph]

Spent the $3000. Now sitting back waiting for the points.

 

[Lawrage]

Spent the $3000. Not sitting back waiting for the points.

Keep us posted, eagerly waiting on mine to come in.

 

[Lionel Hutz]

Just getting the spend required on my current offer, before applying for this one.
That 1 point per dollar due to being Visa Platinum looks nice, I might make this my primary card for a while.
That should avoid using my AMEX and catching the odd surcharge, plus allow me to cancel that and start the ball rolling on that 18 month period to become a "new member" and get another sign on bonus

 

[Dr Ralph]

That 1 point per dollar due to being Visa Platinum looks nice, I might make this my primary card for a while.

Just remember that this only applies to the first $2500 each month.

 

[Lionel Hutz]

Just remember that this only applies to the first $2500 each month.

That fits in pretty nicely with what was my previous AMEX spend

 

[Scr77]

Instant approval. Card in the mail without the need to provide payslips.