75,000 Qantas FF with no annual fee for the first year, $425 annual fee after first year. I was wondering if I sign up and spend the minimum for the eligible purchases in the first 3 months to get the points and wait for the points to appear in my Qantas FF, can I cancel my ANZ card after? or do I have to wait till just before the end of the year to cancel? Want to avoid the annual fee in the second year.
Thanks in advance!
Oh, and would it disqualify me from applying for either the Westpac Altitude Black or the American Express Explorer cause I am thinking of applying for either one as well
You can choose to cancel your card after receiving the points. However, there is no ‘incentive’ to your credit score to cancel before the 12 months have lapse (when your annual fee is due). In general, at the moment, credit files only record ‘negative’ entries. Cancelling a credit card (which one would think is a good thing as it lowers your personal financial risk) will not affect it. However, if you are applying a loan in the 12 mths or you are afraid you will forget to cancel the card later on, go ahead and cancel it.
AFAIK, the 3 products are unrelated to one another, if you satisfy their individual requirements, you should get their offered signup bonus.
Be wary of your credit score, applying multiple credit cards within a short period of time would affect your score much more than applying the same amount of credit card but spaced further apart.
Point Hack articles on managing credit here if you haven’t already read them. Quite a deep subject, have a cup of tea/coffee while you are reading. You are going to need it ;).
