with nab buying citibanks aus domestic consumer banking division, do you think we should be concerned about our citibank points being inflated to nothing/ drastically scaled back ? they already shut the dinners club card down
Hi Raymond, thanks for an informative video. I had a question in regards to obtaining a credit card. I heard that owning a credit card will decrease my borrowing amount for a home loan in the future, however I like to travel so getting a credit card with benefits sound appealing to me. Could you elaborate on this thanks.
Hey mate, glad you found the video informative! You are correct, banks will look at your total existing debt (which includes credit cards) when calculating how much you can borrow. But you can simply close your credit cards a few months prior to applying for a home loan and it will be fine.
Is it true credit cards in Australia actually lowers your borrowing power? Example: if you have $10,000 available credit on your card, that’s $10,000 less they will borrow to you as at any point you could be $10,000 in debt instantly? As long as you pay your bills on time and keep steady income, that’s more important to secure a home loan than credit history? Is this true?
Hey mate, yes that is indeed correct. Banks will assess how much you can borrow based on your income + existing debt which includes things like credit cards and even your HECs debt. Often times if you're working with a mortgage broker they recommend closing your credit cards a few months prior to getting a home loan.
I like what you're trying to do with these videos. My feedback is cut down the amount of explaining and replace the background music. Not enough of the right info and the music will send people to sleep.
FWIW, I like all of the explanation as it is providing exactly the information I am looking for. Also, I don’t even notice the music, so I don’t think you need to change anything. Keep up with the videos and I think your channel deserves to grow a lot more 👍
4:19 - Hilton not IHG logo, great video keep it up
with nab buying citibanks aus domestic consumer banking division, do you think we should be concerned about our citibank points being inflated to nothing/ drastically scaled back ? they already shut the dinners club card down
great video Raymond keep it up mate
Hi Raymond, thanks for an informative video. I had a question in regards to obtaining a credit card. I heard that owning a credit card will decrease my borrowing amount for a home loan in the future, however I like to travel so getting a credit card with benefits sound appealing to me. Could you elaborate on this thanks.
Hey mate, glad you found the video informative! You are correct, banks will look at your total existing debt (which includes credit cards) when calculating how much you can borrow. But you can simply close your credit cards a few months prior to applying for a home loan and it will be fine.
Is it true credit cards in Australia actually lowers your borrowing power? Example: if you have $10,000 available credit on your card, that’s $10,000 less they will borrow to you as at any point you could be $10,000 in debt instantly? As long as you pay your bills on time and keep steady income, that’s more important to secure a home loan than credit history? Is this true?
Hey mate, yes that is indeed correct. Banks will assess how much you can borrow based on your income + existing debt which includes things like credit cards and even your HECs debt. Often times if you're working with a mortgage broker they recommend closing your credit cards a few months prior to getting a home loan.
I remember we get a lot less point & perks in Aus vs US.
Definitely, credit card perks and rewards in general are much better in the US.
I'm buying a macbook for 8000$ and want to get frequent flyer points, what would you recommend? No annual fee credit card
Costco still don’t accept Amex
Fingers cross they do sometime in the future
i thought you can't do giftcard to bump up spending and get sign up bonus?
No you definitely can, I've done it multiple times. Only Government payments will not be applicable.
@raymondla what is the time frame for re applying for a citibank qantas card to get the points again
I like what you're trying to do with these videos. My feedback is cut down the amount of explaining and replace the background music. Not enough of the right info and the music will send people to sleep.
Appreciate the feedback mate, will take on for future videos
FWIW, I like all of the explanation as it is providing exactly the information I am looking for. Also, I don’t even notice the music, so I don’t think you need to change anything. Keep up with the videos and I think your channel deserves to grow a lot more 👍
@@jamestaylor3097 really appreciate that feedback mate! Glad you found it informative