Revealing Citibank's BEST CREDIT CARDS In Australia

[@junaidahsan.]

Hello Raymond, I've thoroughly enjoyed watching your videos, and I'm truly impressed by the quality of your content. I have a question regarding credit cards in Australia-specifically, is it advisable to have 3 or 4 credit cards for a better credit profile, or should one be more conservative in this regard? Additionally, I would love to see a video where you share insights on all the credit cards you currently own, similar to a "What's in my wallet" type of content. Your perspective on this would be greatly appreciated!

[@raymondla]

Hey, glad that you're enjoying the content! You don't really need to have multiple credit cards to have a better credit score in Australia, but it also doesn't really impact you negatively either, so it's really up to you. Personally I hold 3 credit cards max at anyone time. I've thought about doing that type of video for a while now, so I'll add it onto the list to do sometime in the future!

[@jochel0110]

Hi Raymond, do you know if we close a credit card in Australia, it would negatively affect our credit score? I always watch your videos, and obtained an AMEX platinum card, but it doesn't suit me and my lifestyle and wanted to move to citi prestige, for I think it would suit me more. Again thank you for the knowledge you share with us.

[@raymondla]

Hey mate, the whole 'closing credit card negatively affects your credit score' only applies to people in America. In Australia it actually improves your credit score to not have as many credit cards open. The only thing that really negatively affects your credit score is 1. applying for new credit cards 2. not paying your bills on time. Check out this video if you'd like for more info where I talk about credit score for Australians - kzbin.info/www/bejne/f5vdeGlvrNRmlZY

[@jochel0110]

Thanks Raymond... good to know... You're helping a lot of Aussies with your videos. All the best and more power.

[@fernandoprado7901]

Hi Raymond, I have a question for you, if I may. If I am trying to build my credit score having just one card (a Qantas credit card), and I pay most of may balance before the end of the billing cycle to reduce the amount on my monthly statement, does it help to reduce my credit usage, or it doesn't work in Australia? Cheers

[@raymondla]

Hey mate, credit utilisation doesn't affect your credit score here in Australia, that is more of a US thing. What matters most for your credit score is simply paying all of your bills on time, if you do that consistently you'll build it up easily!

[@fernandoprado7901]

@@raymondla thank you so much Raymond. I have been trying to find that info for a while. It helps a lot with strategies. All the best.