Question - Is there a limit on how much you can apply for? (ANZ, Qantas Prem, Citi Signature, NAB Signature) | Australian Frequent Flyer
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Question Is there a limit on how much you can apply for? (ANZ, Qantas Prem, Citi Signature, NAB Signature)

Jamesrulez1

Newbie
Joined
Jan 22, 2020
Messages
1
Hi all,

I have a few questions and will provide some context below:
1. Will closing a credit card account two months after opening it up be hugely detrimental to my credit score (ANZ Basic FF) or should I keep it open to have it continually report that I have not made any late repayments (I believe this is a positive impact on credit score correct?)
2. Is there a "limit" to the amount of cards I can have? (Context below) - Looking to apply for Citi Signature (150K QFF) on top of the cards I already have

Card Context (all this within one month):
- Applied for ANZ QFF Black and was told I was denied but offered basic as an alternative (took it). Spent $4K (two top ups) in the first two weeks and hit eligibility. All paid off and looking to cancel.
- Applied for Qantas Premier and received card this month with $5K in purchases (paid off) so far -Will continue to keep it for the next 5 months to hit the $1.5K spend per month.
- Applied for NAB Signature and was approved today (card being sent) - Have one $3K Purchase that needs to be made as soon as this arrives and I plan on paying it off and then not touching it again until the anniversary where I will cancel it.

Personal Context (variables that may impact card acquisition):
- In current role for less than 2 months ($92K + 13% Bonus)
- In previous role for 2 Years ($81K + 7% Bonus)
- HECS Debt from university and some residual ATO tax ($400 per month).
- 23 years old. Previously renting but moving back to parents in Feb to look for a house to buy.
- Primary salaried income has been successful with all applications but have side contractor income ($10-40K p.a.) and Dividends/Capital Gains ($40-$80K p.a.) that I could use to beef up my application. Haven't needed to use secondary incomes yet. Should I now to increase my credit to income ratio?
- Very low personal expenses. Majority of expenses on CCs have rebates or refunds or shared purchases e.g. Work travel expenses or dental/optical work or group booking vacation flights or group rent.

Cards Owned:
ANZ Freq Flyer Basic ($2K limit) - Closing this card today
Qantas Premier ($6K limit)
NAB Signature ($15K limit)

I've confirmed with Citi and the Qantas Citi team that I can apply for both the Citi Signature and the Qantas Premier cards. Not too sure if I should though with my current card collection.
 
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Spongbob

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Sep 11, 2011
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Maybe the more appropriate place to post this question is in the Credit Cards forum. There have been similar questions posted there that would be useful to read.
 
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Dr Ralph

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Maybe the more appropriate place to post this question is in the Credit Cards forum. There have been similar questions posted there that would be useful to read.
I agree. I have reported this to a mod. I think that the OP may find if they take the time to read this thread that many of the questions they have are already dealt with:

 

theblank

Established Member
Joined
Aug 3, 2014
Messages
1,397
1. Will closing a credit card account two months after opening it up be hugely detrimental to my credit score
somewhere between buggar all and sweet nothing detriment.

2. Is there a "limit" to the amount of cards I can have? (Context below) - Looking to apply for Citi Signature (150K QFF) on top of the cards I already have
No, but there is a limit to how much debt you can afford. A credit card limit is assumed to be fully used when calculating affordability.

- In current role for less than 2 months ($92K + 13% Bonus)
this is the most significant weakness in your credit application.

- Primary salaried income has been successful with all applications but have side contractor income ($10-40K p.a.) and Dividends/Capital Gains ($40-$80K p.a.) that I could use to beef up my application. Haven't needed to use secondary incomes yet. Should I now to increase my credit to income ratio?
yes, but capital gains is not income. cant use it


I've confirmed with Citi and the Qantas Citi team that I can apply for both the Citi Signature and the Qantas Premier cards. Not too sure if I should though with my current card collection.
They said you can apply,doesnt mean you will get it approved.
there is only one way to know if you already have maxxed out how much credit card limits you can get. So do it. If you get declined, cancel some, wait, repeat.
 

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