Hello all, what are your chances of getting the bonus sign up if you apply both Qantas & Velocity CC concurrently? Or you already have a Qantas one but you haven’t cancelled it, but thinking of applying for the Velocity Card from the same bank. I currently hold the Black Cards from Westpac, ANZ & NAB.
Will this affect your chances of receiving the bonuses?
Just about every card that comes with a sign-up bonus also comes with exclusions, where the sign-up bonus will not be given. You read about those exclusions in the Terms and Conditions of the card and its sign-up bonus.
The short answer is that some banks will allow you to receive the separate sign-up bonuses even if you have another card concurrently (NAB is one such bank; its Qantas and Velocity/Rewards programmes are totally separate), and others won’t. There’s simply no alternative to spending a bit of time ploughing through the T&Cs until you have your answer.
Hi @melbournedude, I currently have two cards with NAB. A Qantas Premier Platinum (NAB is the credit provider) and a NAB Qantas Rewards Premium. As sixtyeight said, you just simply scroll down and read the Terms and Conditions which clearly state what makes you ineligible. A warning however, Westpac call their main card an “Altitude Platinum”. It comes either as a Qantas points card or a Velocity points card. You wouldn’t be able to have both of those at the same time as the T&C doesn’t differentiate whether its the Velocity one or the Qantas one, it just refers to an “Altitude” card. The T&C for that card state: “Existing Westpac customers who currently hold an Earth Classic, Earth Platinum, Earth Platinum Plus, Earth Black, Altitude Classic, Altitude Platinum or Altitude Black credit card, or who have held one in the last 12 months, are not eligible for this offer.” So you couldn’t have a Qantas one and a Velocity one at the same time (well you could, but you won’t be eligible for the points on the second one). You say you currently have black cards from three banks all at the same time?? Assuming they are $15,000 minimum credit limit cards that’s a $45,000 potential credit. I didn’t know that was even possible. But if that being the case, you may be declined because of that rather large existing potential credit and you may need to cancel one of them first.
As others have said, you need to check the terms and conditions for the specific bank you are applying for to see if you would be eligible for the bonus points. For example, AMEX only allows to receive bonus points once, I had a Velocity card with AMEX and received a Qantas card and wasn’t eligible for any bonus points with the new card