Credit cards

[Cruisers47]

Hi

 

sorry this is a moan.

 

my present credit card insurance is with Bankwest and since Covid it gives you practically nothing.  No cruise cover and no 

cancellations unless you upgrade it and on our last cruise that cost $800.

so decided to try for an ANZ credit card,  good information on CC.  Applied and kept sending required documents 

and being asked for more and more info.    I get two pensions each month plus my superannuation which I have to draw down.

but they keep asking for more,  I now need a statement from the UK regarding my pension, even though they can see on my bank statements for the last ten years that I receive one.   My patience are waning.   But it is worth it if they finally give me one.

has anybody had the same issues!

 

eileen

[Ondine]

I found that when I tried to get an ING credit card (I already have savings with them) they wouldn't give me one because I was not a PAYG person.  I relied on my superannuation and part Aus pension, owned own home etc but because I didn't have a job I was not eligible.  Think it applies to most credit card applications.

[Ozwoody]

Yes, it does reek of discrimination against retirees.

We don't have have a paid job so are considered unsuitable risk for a credit card.

Even though we would in general have a greater disposable income, and fewer debts.

My wife was knocked back for a cc as I had one and we assume they thought we could no afford two, even thought she has a joint card with me and can buy anything she wants with it.

 

Ever since the bank royal commission they seem to be reluctant to give older people credit cards.

All because they were reckless with issuing them willy nilly before.

Edited September 18, 2023 by Ozwoody

[JohnGc]

Yep if your retired they wont even consider you but they still make you go all through the red tape so they can say no. Tried them all and even though I own my own house, have enough savings to last me  way past my use by date I was denied a card. I am afraid that when you are retired you are put in the too hard basket. 😕

[cruiser3775]

I had the same experience. If you are retiring shortly, get new credit cards while you still have a regular paycheck.

[Ozwoody]

48 minutes ago, cruiser3775 said:

I had the same experience. If you are retiring shortly, get new credit cards while you still have a regular paycheck.

I reckon if possible try and get two or three so you have some choice of which is better for your purpose.😁

[Elorac123]

2 hours ago, Cruisers47 said:

Hi

 

sorry this is a moan.

 

my present credit card insurance is with Bankwest and since Covid it gives you practically nothing.  No cruise cover and no 

cancellations unless you upgrade it and on our last cruise that cost $800.

so decided to try for an ANZ credit card,  good information on CC.  Applied and kept sending required documents 

and being asked for more and more info.    I get two pensions each month plus my superannuation which I have to draw down.

but they keep asking for more,  I now need a statement from the UK regarding my pension, even though they can see on my bank statements for the last ten years that I receive one.   My patience are waning.   But it is worth it if they finally give me one.

has anybody had the same issues!

 

eileen

NAB have a debit card that offers complimentary travel insurance,there is a monthly account keeping fee but it’s cheaper overall than some credit card insurance

Cheers Carole

[Cruisers47]

5 minutes ago, Elorac123 said:

NAB have a debit card that offers complimentary travel insurance,there is a monthly account keeping fee but it’s cheaper overall than some credit card insurance

Cheers Carole

Hi 
 

thanks for that information.   My last conversation actually said that I would get one if I could get a letter from the UK stating that I get 60% of my husbands pension.   I am going to ring the UK and see how things go.  If it is refused I will have a look at the NAB debit card.    It just gets you down as people like me always pay their debts and it gets to the stage of wanting to slap somebody.   Not good I am too old for that🤪

 

eileen

[Cruisers47]

24 minutes ago, Elorac123 said:

NAB have a debit card that offers complimentary travel insurance,there is a monthly account keeping fee but it’s cheaper overall than some credit card insurance

Cheers Carole

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

[JohnGc]

21 minutes ago, Cruisers47 said:

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

Yep had that problem to. Crazy thing is my pension including the UK one is more reliable than being employed.

Edited September 18, 2023 by JohnGc

[Elorac123]

25 minutes ago, Cruisers47 said:

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

Yes unfortunately it does but covers you until you  are 91for cancelation delay etc but not for health while your away.

Such is life

Cheers Carole

[lyndarra]

30 minutes ago, Cruisers47 said:

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

NAB have recently increased age to 81 on CCs. Not sure if same applies to DC. I would assume they have the same underwriters. I have a NAB Velocity card.

[Ozwoody]

48 minutes ago, Cruisers47 said:

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

Age Limits for some Credit Card Providers.
May be worth checking their Debit Cards to see if they offer travel insurance.

 

Under 81
ANZ Platinum
Westpac
St George

 

No Age Limit
Bank Queensland
Suncorp
Macquarie Bank
Heritage Credit Card
 

[Cruisers47]

5 minutes ago, Ozwoody said:

Age Limits for some Credit Card Providers.
May be worth checking their Debit Cards to see if they offer travel insurance.

 

Under 81
ANZ Platinum
Westpac
St George

 

No Age Limit
Bank Queensland
Suncorp
Macquarie Bank
Heritage Credit Card
 

That’s is one of the reasons I applied to ANZ .   81 gives us another 5 years..wow wow.   Thanks for your information.  
 

our next cruise is not until Xmas..,seems along way away!

[Ozwoody]

2 minutes ago, Cruisers47 said:

That’s is one of the reasons I applied to ANZ .   81 gives us another 5 years..wow wow.   Thanks for your information.  
 

our next cruise is not until Xmas..,seems along way away!

It'll come quicker than you will realise.

Ours is in about three weeks.

[Ozwoody]

The biggest problem has been the lack of covid cover, as some destinations insist on proof of covid cover to board the ship.

Hoping that is coming to an end now, that will open a lot of doors for credit card insurance.

Combanks cc insurance would be great but lacks the covid cover.

 

[datone]

I'm with Bank of Queensland and last week received new terms and conditions for the complimentary travel insurance.   Previously no age limit but changing in November to under 81.

[MicCanberra]

I wouldn't rely on Credit card insurance anymore unless you have no existing medical issues.

[OzKiwiJJ]

3 hours ago, Cruisers47 said:

Just had a look at NAB. Visa Debit card.   Travel insurance not available after the age of 76!   I am too old !

NAB are changing their credit card travel insurance rules, effective 1st November, to cover people up to the age of 81. They might also be doing that with the debit card - it might be worth giving them a call. 

[OzKiwiJJ]

1 hour ago, MicCanberra said:

I wouldn't rely on Credit card insurance anymore unless you have no existing medical issues.

You have to advise them of existing medical conditions and sometimes pay a bit to have them covered. 

[MicCanberra]

11 hours ago, OzKiwiJJ said:

You have to advise them of existing medical conditions and sometimes pay a bit to have them covered. 

Many do not allow you to pay a bit extra anymore, ever since they moved underwriters from QBE to Allianz

[OzKiwiJJ]

2 hours ago, MicCanberra said:

Many do not allow you to pay a bit extra anymore, ever since they moved underwriters from QBE to Allianz

I guess I'll find out in November. I have a Citibank Premier card which is being transitioned to NAB, and the new NAB insurance rules apply to that. I spoke to someone at Citibank the other week and they are still evaluating existing conditions but can't do that until the new rules come into play.

 

It would be a bit pointless upping the age limit to 81 if they aren't going to cover existing medical condition that are usual for us older folk. 

[arxcards]

6 minutes ago, OzKiwiJJ said:

I guess I'll find out in November. I have a Citibank Premier card which is being transitioned to NAB, and the new NAB insurance rules apply to that. I spoke to someone at Citibank the other week and they are still evaluating existing conditions but can't do that until the new rules come into play.

 

It would be a bit pointless upping the age limit to 81 if they aren't going to cover existing medical condition that are usual for us older folk. 

The way they are restricting access based on age, it is pretty much like they are treating old age as a pre-existing condition already.

[Cruisers47]

Hi

 

you will not believe this, my application for a credit card from ANZ has just been approved.  WOW!
 

yesterday I phoned to asked what was happening and spoke to a very nice woman.  She said I needed to get a letter from the UK stating I get a pension from them.   I phoned UK last night and they said they would send me one by snail mail.  I said can’t you send it be email.  No that’s against the rules,  anyway I sent a message to ANZ saying it would take time.

I think somebody at ANZ made an executive decision and I got my card.

ofcourse I have to hope that ANZ stick with Allianz who are covering all,I want and now up to 81 as well and don’t change their insurer.

 

when I get the card I can now cancel my crap Bankwest one!   Hurrah.

I also have my Coles credit card as well which I will keep.  You need two incase you are overseas and a machine eats one up.   Not that I use the machines while overseas, but just in case.   A good day.

 

Maybe if you need a card keep trying.

 

Eileen

[Aus Traveller]

On 9/19/2023 at 1:03 PM, Cruisers47 said:

Hi

 

you will not believe this, my application for a credit card from ANZ has just been approved.  WOW!
 

yesterday I phoned to asked what was happening and spoke to a very nice woman.  She said I needed to get a letter from the UK stating I get a pension from them.   I phoned UK last night and they said they would send me one by snail mail.  I said can’t you send it be email.  No that’s against the rules,  anyway I sent a message to ANZ saying it would take time.

I think somebody at ANZ made an executive decision and I got my card.

ofcourse I have to hope that ANZ stick with Allianz who are covering all,I want and now up to 81 as well and don’t change their insurer.

 

when I get the card I can now cancel my crap Bankwest one!   Hurrah.

I also have my Coles credit card as well which I will keep.  You need two incase you are overseas and a machine eats one up.   Not that I use the machines while overseas, but just in case.   A good day.

 

Maybe if you need a card keep trying.

 

Eileen

The ANZ travel insurance covers you for trips you book before your 81st birthday. My husband turned 81 in July. We have cruises booked for this year, 2024 and 2025. I have already suggested to him that we have saved a lot of money by using the free credit card insurance, so in future, we might have to buy a policy for him. I have several years to go before I reach the magic number.