Cancel 2 Credit Cards after 1 Year Use and Re-Apply for Different Credit Cards

L[Deactivated] on 24/01/2019 - 00:17

It's probably been asked before but with my poor searching ability, I can't find the answer to this.

I have 2 credit cards, Amex Velocity Platinum and Virgin Velocity Flyer.

With Amex, I only paid half annual fee and got 100,000 Velocity points and already used free domestic return flights and 2 x Velocity lounge passes.
With Virgin money, I also paid half annual fee and got $129 Virgin voucher and 60,000 velocity points.

Now that I used all the benefits from these cards, I'm thinking about canceling these two and apply for better offers soon.

My question is, do credit cards providers look at my history of switching credit cards and not accept my application? I'm not going to apply for credit cards from AMEX and Virgin money.

Thanks in advance.

Financial Credit Card

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American Express
American Express

Comments

  • [Deactivated] on 24/01/2019 - 00:26

    Next 2 cards I'm thinking of are NAB Qantas Rewards Premium - can get annual fee waived and 30,000 Quantas points

    and ANZ Frequent Flyer Black - 120,000 qantas points, 75 status point and $275 annual fee first year.

    • stirlo on 24/01/2019 - 08:15
      +1

      Why not get the St George card with 80,000 QFF and no fee. Also spend requirements on the ANZ card are quite high.

  • sk0rpien on 24/01/2019 - 01:05

    you can get your credit history and rating of a website like creditsavvy.com.au. each time you apply there can be a credit check on you. this may have an effect on future applications. i recently cancelled ANZ, westpac and bendigo and got qantas and just got st george. there was 1 new check from qantas, none from st george and my credit rating was unchanged. i notify the banks i cancel as im moving overseas and thus far have not had any issues from changing too often but have had issues where they notice I have too many cards/too large a total credit limit.

  • stirlo on 24/01/2019 - 08:16

    If you have a reasonable credit score and income then go for it. Only thing i to remember the wait periods (18 months for AMEX, 12 Months for most banks) and not apply for new card within that time so you stay eligible for the bonus.

    • [Deactivated] on 24/01/2019 - 09:26

      Ah there's wait period? Good to know. Will look that up and make sure I don't apply for same cc providers. Cheers

  • Skramit on 26/01/2019 - 08:25

    Banks don’t really care if you hop. They know people do it. They really just want new customers and hope you stay.

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