Hi OzB community, just want to ask about if anyone knows if I can ask my bank ANZ to switch my credit card from Platinum to a Qantas rewards without applying or affecting my credit score? I use the card and pay the balance each month but thought I might as well get points or something from using it. I was contemplating on cancelling but didn't want to apply for another in fears it will affect my credit score.
Thanks in advance
credit scores don't really matter that much in australia, unless you don't pay your bills.
I think they will change your card type without doing a credit check, so long as you don’t increase your credit limit.
Western credit scores are one step away from the Social Credit System. People shouldn't be surprised when the government start to match social media with ID and use that to crack down on untrustworthy behaviour.
https://7news.com.au/sunrise/on-the-show/federal-government-…
What's the real question you're asking here?
If you're worried this may impact, for example, a home loan application you've got cooking or expect to put in over coming months … why risk that for the sake of a few points? Do the home loan, get that settled, and then sort out a new credit card.
If it's just a general question, I wouldn't worry much about it. Assuming you keep paying the bill, etc., etc., any change that may happen will wash through over the next 12 months.
Yep real question is to ensure it doesn't get affect my credit score prior to getting a new home loan. I just considered to maximise getting something like points since I'm paying an annual fee on the card. Agree, that was my original plan was wait till I settle a home loan as I don't really need the money from the card, but will utilise if it was a rewards card and just pay balances each month.
I was gonna cancel the card but heard my credit score may reduce if I close the account.
If your plan is to have a new home loan by Christmas, don't change anything that may disrupt that process IMHO.
This is where risk and reward comes in. Do you want to risk the home loan to get your rewards points? Or do you want to give up the rewards points to not risk the home loan?
Now, I will say that I don't know whether or not what your proposing risks the home loan … but for my money, I'd prioritise the bigger prize over what might be a couple of hundred bucks worth of points.
Did this recently.
They do not do a credit check unless a limit increase is required.
Saying that some of the points cards have a higher minimum limit.
So if you current card limit is lower than the new cards minimum limit then yes you will be credit checked.
Yep just checked with ANZ and they said the same if it's higher limit minimum it would require a credit check, if it's within the current limit it won't require it. So may just do that, just an FYI for anyone ever reading this in future, I was also advised any promotions such as bonus points etc. are excluded as they only apply if it's a new product not a change, which requires a new application and credit check.
Thank you everyone for your responses really appreciated it.
It will probably pull your credit file but that's not necessarily bad is it? I've seen my score go up after approved pulls.