Hi everyone,
I was reading this article earlier today
http://www.domain.com.au/news/first...s-to-cover-deposit-shortfall-20150930-gjwwog/
And it had me thinking.
Obviously a cash advance wouldn't earn points but if you were to "purchase" a deposit book as described here:
"Home buyers could potentially use credit cards by taking a cash advance, or by using the credit card to buy a deposit bond.
Would you earn points on that ?
Obviously if you are buying something then it should be classified as a purchase ?
Maybe this strategy is a even if I don't actually need the credit ?
eg. Have 200k cash in the bank, want to buy a $million dollar home, but instead put that money onto a CC (throws the CC well into surplus) and use the CC to get a deposit bond.
If you're earning 1:1 200k QFF points is nothing to scoff at.
Thoughts ?
I was reading this article earlier today
http://www.domain.com.au/news/first...s-to-cover-deposit-shortfall-20150930-gjwwog/
And it had me thinking.
Obviously a cash advance wouldn't earn points but if you were to "purchase" a deposit book as described here:
"Home buyers could potentially use credit cards by taking a cash advance, or by using the credit card to buy a deposit bond.
Would you earn points on that ?
Obviously if you are buying something then it should be classified as a purchase ?
Maybe this strategy is a even if I don't actually need the credit ?
eg. Have 200k cash in the bank, want to buy a $million dollar home, but instead put that money onto a CC (throws the CC well into surplus) and use the CC to get a deposit bond.
If you're earning 1:1 200k QFF points is nothing to scoff at.
Thoughts ?