1st Credit Card

LCaerdyddblue on 16/09/2021 - 10:53

Hi everyone,

I've been thinking of getting a 1st credit card (in Australia) for a while, I have 2 credit cards from home (Wales) but I've been unable to get one here until recently as I've only become a permanent resident in the past few months. I really want a credit card to build some QF points so I can use it to subsidise/upgrade some trips home over the next year or two when we can travel but I was wondering if its better to get just get a low reward card with no/low annual fees and keep that going forward and just cycle the other cards? If so is there a better bank to get on the low reward cards to keep and any banks that are generally more generous to cycle through? Or is it better to go for a decent 100k etc QF point card? I'm worried about tying myself to a big provider like Amex then miss out on cycling through their cards as I've got a low reward/low fee card that I'm keeping for years.

I have little credit history here but had cards at home for 8+ years, I'm not sure if they can access that from here. I've submitted a credit score report but they can't provide it or verify me for some reason. I've recently started a new job (about 4-5 weeks in) and I'm casual but I have a good wage and no debt with pretty solid savings ($20k).

Hope I've provided another info and if anyone can pass on their experiences that would be great!

Financial Credit Card

Comments

  • deme on 16/09/2021 - 11:08
    +5

    I really want a credit card to build some QF points

    Was about to post that building up a credit score is bs, but go nuts on QF points.

    • MrThing on 16/09/2021 - 11:25
      +2

      another +1 to credit score is bs.

      never had a default, always pay bills on time and in full, have 2 home loans fully paid up, keep 1 low value credit card open which I have had for almost 15years now to keep a history

      but……I churn rewards cards like nothing else - at least 7 per year

      and my credit score is about 750.

      so ye, dont worry about credit score means fuk all and the way its scored is flawed big time. so much for recording positive stuff eh, seems my score takes a hit every time I get a new card, but never goes up due to paying bills on time

      my favorite churn cards are:
      ANZ black qantas (the annual fee is low for the points you get),
      AMEX explorer or qantas ultimate (same deal, great points deals + a travel voucher which equals the annual fee, downside 18month churn waiting period),
      ANZ black rewards (currently $0 annual fee, huge 180k rewards points),
      Kogan ($0 annual fee, $400 voucher for use at kogan, also a citibank issued card so customer service is terrible),
      Citibank / qantas money (nightmare customer service - citibank, but decent points v fee return),
      NAB qantas signature (good points bonus, annual fee is on the high end),
      St george (similar to westpac, less points and less annual fee),
      Westpac black qantas (generally my last go to, high qantas points bonus but annual fee is always high as well)

      sometimes you get some decent deals from HSBC, but ive never taken them up. Commbank is rubbish ignore them - never seen a worthwhile deal out of them

      Virgin points are basically worthless at the moment imo (unless you're big on domestic travel / domestic business class - yuk), until (or if ever) they restart the krisflyer transfer - I am doubtful but.

      • Caerdyddblue on 17/09/2021 - 10:30

        Thanks for that breakdown! It's a great help. I'm looking mainly for QF so I'll head to those with a priority, I'm leaning towards the Amex explorer or qantas ultimate as I might as well get that one out of the way first if it has the longest waiting period.

        • MrThing on 17/09/2021 - 19:07

          amex explorer cant transfer to qantas I dont believe.

          you need the qantas ultimate

  • Randxyz123 on 16/09/2021 - 11:12
    +2

    In Australia you don’t build up a credit score so as you meet the minimum income requirements and can prove it then you should be fine. The QF Amex Ultimate with 110,000 bonus points and $200 back is probably the best deal at the moment.

    • Drakesy on 16/09/2021 - 13:36
      +1

      I'd do the ANZ rewards black before this and then ANZ frequent Flyer Black. (Just for visa compatibility as opposed to AMEX)

  • funnysht on 16/09/2021 - 11:19
    +1

    28 degrees= as long as you get no currency conversion fees etc

  • JMosk on 16/09/2021 - 11:56
    +1

    Unless you spend a lot then I'd suggest churning cards that are low/no fee and have qff bonus points is probably a decent strategy

  • Peck on 16/09/2021 - 12:52
    +1

    In my experience, AMEX is sometimes not accepted, but especially outside of the capital cities. And so, if you are going for just 1 card, then I would skip AMEX.

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