You have faith in our banking system? Think again...

[HoldingPattern]

Primary and supplementary both 18 and unemployed.

 

[albatross710]

Primary and supplementary both 18 and unemployed.

Thanks for getting us back on track.

Please be cautious with how you use the credit.

 

[Dave Noble]

regarding comments about credit rating

Australia does not have a credit rating system . Lenders analyse based on details of the person and of reports from places like veda

Veda only holds v limited information and if someone has done nothing credit related for 5 (7 in certain cases) years may basically have a completely empty record. Someone who completely screws up will have a clean bill of health 5-7 years after the last adverse entry, so cannot be ruined for life as suggested

If the system changed to the awful US style model of credit scoring, things would be different since ongoing credit agreements and debt utilisation have significant impact; someone with a 5,000 limit using 3,000 of it may, if i understand it right, be scored lower than someone using 50,000 of a 150,000 since the debt utilisation percentage is lower

If an unemployed 18 year old managed to get a credit card , then the bank must have done an assessment based on information provided. Being a Platinum card is just a good scam by the bank... massage egos and then rake in higher merchant fees . If the applicant had significant assets , it seems quite reasonable that they may feel he is a good risk for $10k and perhaps a better risk than someone who has a reasonable income but no significant assets

I assume that the person had no charge offs on their credit history at 18 , so based on the other aspects doesnt seem that unreasonable that the bank gave a debt card out

Dave

 

[HoldingPattern]

Platinum card offers tangible benefits to us. 2years extra warranty on my Apple laptop would have been $400. 1 extra year is provided complimentary. Anyway, I negotiated an annual fee waiver.

You'd be surprised how crafty unemployed eighteen year olds can be... particularly the crafty ones that stay in Presidential Suite's and fly business class for free...

 

[Evan]

hahahaha, sound like a tough life being unemployed

 

[JohnK]

You'd be surprised how crafty unemployed eighteen year olds can be... particularly the crafty ones that stay in Presidential Suite's and fly business class for free...

Life must be tough spending someone elses money....

 

[HoldingPattern]

When I say free I mean points! My point being points are funding our lifestyle (not someone elses money!)

 

[Diesellife]

When I say free I mean points! My point being points are funding our lifestyle (not someone elses money!)

Perhaps the most fundamental question is how did you obtain those points at the first place without income/salary

And do you mind to collabrate which scheme allows you to use point for Presidential suite?

 

[markis10]

And do you mind to collabrate which scheme allows you to use point for Presidential suite?

Prioirty Club with ICHG does, many of their hotels allow award bookings across various room cateogries and with 5000 point break specials at times, they are quite a good bargain, recently the Crown PLaza Port Moresby had the Presidential Suite available for instance!