Well they haven't been nice with the savings interest rate, but just received this email from ING.
Apply for an Orange One Platinum before 31 December 2019 and make 5 eligible purchases within 90 days of your account being approved, and you'll get a $250 bonus. Just make sure you enter the promo code "BONUS250" on the application form to qualify.
Comes with the usual 1% back on cashbacks etc.
Sounds good ING, I'll apply for your Orange One Platinum Credit Ca-
Annual fee $149
Yeah, nah.
$100 net not worth a credit enquiry
$101 could be worth it
A credit inquiry literally isn't worth anything.
The "secret" is to have insanely high income/assets and low debt. A family friend of ours had the worst credit possible, a bankrupt… he then literally won Powerball. Like waving a magic wand, it was all good in the 'hood. Banks are always tripping over themselves to get his business.
Thats a diff story, quite unrelated
Yeh and needs more dragons.
It isn't. Mr Spiff (lol) fears a credit inquiry will harm his future credit prospects. The reality is, making extra money will do so much more to help his creditworthiness than a bunch of silly inquiries. The banks couldn't care less, if your numbers are amazing.
@Charity: Wrong again. How would you then explain why people (myself included) have exceeded income requirements by more than double. Let me tell you a non-anecdotal story. I know somebody who applied for the Citibank Signature Visa card who's income is literally 60+ times the minimum income required, and they got rejected. Amazing numbers don't mean anything.
@spiff: The banks probably rejected your application due to your arrogance alone. You probably never gave them a chance to reject your app based on financial reasons.
@PissLUR: Last year I made the mistake of applying for a Westpac credit card 3 times and got rejected each time. I tried again this year AFTER taking out a new mortgage which substantially increased my liabilities, and everything else remained constant. This time I got accepted. Can't help but think that maybe since I'm a higher risk, the bank thinks they could make more money out of me.
What are you on about? Why would you share a story that literally has nothing to do with credit enquiries?
It's the opportunity cost/risk of not being accepted for a better credit card which has more to offer.
Stuff ING - they don’t pass on Interest Rate cuts.
Huh? What you talking about? I’ve got a savings maximiser and they’ve dropped the rate 0.90%! (Yay for savers!)
Lol. Good one.
Hmm, what kind of acc do you have. Its dropped 0.85% since not too long ago but it is still at 1.95%
Oh, I have the savings maximiser XS Pro Max account. Extra 0.05%
@B Wat: Haha actually I misread what you said. Thought you said dropped TO 0.9%, not dropped 0.9%. I cant remember honestly what it should be though.
I'm with ING for home loan and they have passed on 0.60 % (out of 0.75% RBA rate cut)
They usually pass on half of them.
With Orange One Platinum you earn 1% per dollar spend, up to $30 per month. That's up to $360 a year.
$3,000 to get a $30 cashback a month? ($36000 spend for $360 cashback per year). Not buying anything and putting the $36000 in a 2% bank account gets you $720 a year… What would an OzBargainer possibly spend $36k a year on?
For smaller purchases, get HSBC's 2% paywave cashback. You spend a lot less to get more back. Come on ING, you can do it.
Which one is 2% cashback from HBSC?
You can also get $100 if you deposit $2k for 3 months in a 6 month period.
Come on, this is ozbargain, everyone here is on high income or 45% tax rate so $720 is now $396, still less than $360 + $101.
Nah, OzBargain are the cheapos. Whirlpool are the (alleged) 6-figure income earners with (allegedly) 5 investment houses by (allegedly) age 25.
$1000.01 is six figures
You aint see nothing. Go ask our Westpac intern. Probably on 7 digits and just bought his yacht by now.
Only those laundering money can be bothered going through the pain of using HSBC
I don’t really feel the benefits of this card are worthy of the ‘Platinum’ moniker. Annual fee is too high also for what’s on offer.
It's not really an ozbargain card. These low-interest cards are for people who don't pay off the balance every month and i'd expect 95% of ozbargainers to pay off the balance in full.
if you always pay off you cards in full each month, these low-interest cards offer no benefits like you get with the reward cards.
Is this targeted ? I only received email about their dropping rates.
This card is also fee free if you have an ING home loan - whether that excludes you from the promo I don’t know. Unfortunately I’ve already got the card.
Annual fee $149