Got some helpful commentary re: super and thought I'd ask again a few months later.
I have recently started work and want a credit card for ease of bill payments, to build a rating and get on points.
2 things:
1) Is it a bad idea to go for the super high points cards (ANZ Black) as a first credit card/am I likely to be declined based on that?
2) Can you cancel these cards 364 days in and avoid paying their annual fees?
Cheers
none.
Don't think you build credit like that in Australia. I think that's a US thing? Generally they consider income, assets, and liabilities above all else. Could be wrong.
As for points, what's your monthly spend? There's a certain spend level where it's just not worth getting a points card.
Consider your income and what you have left over at the end of the month + your previous credit history, then it's a matter of whether or not you can meet the minimum repayments.
I'm not too sure since my three cards are all annual fee-free, but don't they charge the annual fee in your first statement?
That CBA one with the $250 back took the annual fee upfront.
As long as you meet the set criteria such as income it doesn't matter which card you apply for your chances are generally the same. Sometimes the minimum credit limit offered may be higher than you are good for and this could decline you.
So long as you close the account before the anniversary you are fine