I’ve got two nab cards: the Velocity Premium and the NAB Rewards platinum.
As well as this, I have an Amex Explorer.
I was recently declined for Virgin Money’s Velocity Flyer card, and I’m thinking it’s because I have access to too much credit at the moment.
Am I better off closing one of the nab accounts, probably the Velocity Premium?
Or with the new RBA changes, are NAB likely to offer current cardholders a good deal – to offset the likely end of bank-issued Amex cards? In which case it may be worth holding on to?
unfortunately this site cannot give financial advice on what cards you should have or should cancel. regarding your cancellation, the card provider isn’t obliged to tell you but there could be other reasons such as a lot of applications in a short period of time or other things that may negatively impact your credit card.
I would also suggest checking your credit file and credit score via getcredtiscore.com.au and creditsavvy.com.au . Good to request a free copy of your Veda report too.