Will you still earn/retain Velocity status beyond 2025?

[simmomelb]

We also have an investment property which still has a mortgage. That also is contributing to the equation. We will probably sell it in the next 12 months so maybe that might help.

Perhaps, yeah.
My dad has 3 investment properties, and the home he lives in, all fully paid off, a great credit record, is retired and has plenty of savings and was rejected, go figure.
He just wanted a new CC for the FF points and included international travel insurance.

 

[Falcs]

Perhaps, yeah.
My dad has 3 investment properties, and the home he lives in, all fully paid off, a great credit record, is retired and has plenty of savings and was rejected, go figure.
He just wanted a new CC for the FF points and included international travel insurance.

Unfortunately, all banks care about is serviceability (Income less expenses/repayments).

Even if your mortgage was on the home stretch - say less than $100k remaining and you're paying off $5k per month the banks will assess your application based on those outgoings of $5k per month.

In Asian countries they let you "pledge" a TD with them eg if you want a $10k limit credit card, you set up a term deposit with them of $10k. It's a shame they don't do it here.