Apply instore for the David Jones American Express Card from 20 March - 5 April 2010 and the $99 annual card fee will be waived for the first year.
You also get 13,500 points which is about $100 worth gift cards.
David Jones Amex - No Annual Fee (1st Year) and 13,500 Points ($100 Gift Card)
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My mistake, fixed it up
13500 points = $100 gift card…
what u have said in ur description is wrong
Edited.
Can you redeem the points as soon as you sign up for the card?
Yes, you can, just got my $100 gift card.
can we terminate the card membership after 1 year (as soon as it start incurs annual fee)?
Or is there any minimum length of joining the card?would like to know this too :)
You can terminate as soon as you get the gift card, no minimum joining time.
There is no requirement to hold the card for a minimum length of time, nor is there anything in the terms and conditions that prevents you from cancelling the card prior to the next annual fee.
Note, annual fee is applied on day of issue of the card.
So the thing to do is to get the card now, grab the points, use the card for say around 11months and get more points, pay off the balance and then call up to cancel the card before the annual fee is applied for the next year. When you call they'll ask why you are cancelling. Just mention you don't like the annual fee and most likely they'll waive it again. Too easy.
but dont forget your credit history will have this even after you cancel it
why does that matter thou? does it affect your credit rating?
well yes, if you have 10 cred card application on your credit history, some1 here said banks might lend you less. the bad things, when you apply for cc, it shows up, but when you cancel , this doesnt
That's stupid system.
Australia does not have a credit rating afaik
Sorry mate, incorrect.
Australia does have a credit reporting system - albeit a 'negative' reporting one. That is, everytime you apply for credit (credit card, loans, etc), an entry will be posted on your record as having applied for credit. No entries are posted for cancelling cards, paying off loans etc.
Also if you default on a loan repayment of $100 or more and by more than 60 days (or might be 90 days), an entry will be posted. They don't care if you pay on time. Hence 'negative' reporting. The banks only want to know the bad news.
You can get a copy of your personal credit file for FREE here http://www.vedaadvantage.com.au/personal/mcf/my-credit-file-…
This is what each bank will see when you apply for credit.There are currently moves to move to 'positive' reporting. Last I heard was this should be in place by 2011.
Really. damn. i better stop applying for all these credit cards with free money being thrown at me.
hahahah xavier same! So far I have about 6 credit cards. lol
Thanks Bitsurfr
Note that it costs the company that issues the credit to record your name onto the credit system, so small debts usually aren't recorded. They will also not record a missed mortgage repayment as long as you have notified the bank, most banks/credit unions etc have 12 month amnesties built into their mortgage contracts.
Credit cards do stay on your record, but I've applied for credit previously and just told the provider that the card was cancelled and they didn't ask anything further.
Well, if you have no plans to take out any personal loans or car loans - the credit rating should not concern you at all.
Mobile phone companies don't care if you have a swag of credit cards - they'll still let you sign up for a mobile phone plan. They will only care if you have lots of unpaid payments against your name. They even let international students sign up fairly easily.
The only biggie is taking out a mortgage. But if you're not planning to take out a mortgage any time soon, I doubt the banks are going to care too much when you do sign up - that you've signed up for 10 credit cards 10 years ago. If you can show that you have a high paying job and should have no problem paying off the mortgage, I doubt they will reject your "business" if the only problem is that you've signed up for a swag of credit cards years ago (which you may have already canceled) and you don't have any negatives against your name.
Interest on mortgages are good profit for banks. They don't have a huge risk too because if you don't pay off your loan, they'll just auction off your house - and a house isn't something you can run out with - you can't run off with it when you flee the country to escape your debts. They're not about to reject you on the basis you've got lots of credit card "applications" and risk losing your business to another bank/credit union etc
So let me guess this straight, I go to my local DJ store and sign up for a DJ American Express card and get a $100 gift card?
Where does it say "no annual fee" or "first year annual fee waived"?
On the printed flyer IN STORE
Does anyone know how long the wait is after your initial purchase to receive the gift card?
13,500 points will get you $100 worth of gift cards, not $200. But good deal anyway.