Advice on limits for applications, and more.

[JennyMG]

New to churning, but not to chasing, FF is my new love.
I've been doing QFF for10 years in a docile sort of way, but this year, suddenly discovered how to book an award flight. Holy Moly! Now I have the bug. I wish I had known about this all along.
'Made' husband apply for the Bankwest World mastercard, which he got. (Yay, 90K right there.)

What I'd like to know is more about limits for applications, which I imagine are different for everyone.
My credit score is very good, somewhere in the region of 850. as is my husband's.

We have a few joint cards, and a few single ones, but only the Bankwest (his) and the Amplify (mine) were applied for and obtained recently.

Here are my vague questions:
1. How often is too often to apply? (I'm a bit nervous, as I don't want to apply and be denied, not knowing if it will hurt my credit score. Is 3 cards a year reasonable? (I want to apply for 10 but I definitely wouldn't get them.)
2. I hate to admit it, but I (just me) applied for the Qantas Premier card (without properly reading Ts and Cs) and did not qualify having only just started my business last year, and only a few months of income at tax time. THIS year is a lot different so is way over their threshold $ income.
What is the waiting time between applications do you thingk and is it safe to do this again so soon, or would you go a completely different card?
3. How many months is a good time between applications in general? some people seem to apply for a few at once, others space them carefully.

I'd like to know about applying, and cancelling, and waiting times.
Thanks for anything you can tell me.
I looked through the forums for answers, but things seem a little spread out. Sorry if this is in the wrong place.
Jenny

I don't want to do amex,...not really, and I don't want cards with giant annual fees.

 

[Dr Ralph]

New to churning, but not to chasing, FF is my new love.
I've been doing QFF for10 years in a docile sort of way, but this year, suddenly discovered how to book an award flight. Holy Moly! Now I have the bug. I wish I had known about this all along.
'Made' husband apply for the Bankwest World mastercard, which he got. (Yay, 90K right there.)

What I'd like to know is more about limits for applications, which I imagine are different for everyone.
My credit score is very good, somewhere in the region of 850. as is my husband's.

We have a few joint cards, and a few single ones, but only the Bankwest (his) and the Amplify (mine) were applied for and obtained recently.

Here are my vague questions:
1. How often is too often to apply? (I'm a bit nervous, as I don't want to apply and be denied, not knowing if it will hurt my credit score. Is 3 cards a year reasonable? (I want to apply for 10 but I definitely wouldn't get them.)
2. I hate to admit it, but I (just me) applied for the Qantas Premier card (without properly reading Ts and Cs) and did not qualify having only just started my business last year, and only a few months of income at tax time. THIS year is a lot different so is way over their threshold $ income.
What is the waiting time between applications do you thingk and is it safe to do this again so soon, or would you go a completely different card?
3. How many months is a good time between applications in general? some people seem to apply for a few at once, others space them carefully.

I'd like to know about applying, and cancelling, and waiting times.
Thanks for anything you can tell me.
I looked through the forums for answers, but things seem a little spread out. Sorry if this is in the wrong place.
Jenny

I don't want to do amex,...not really, and I don't want cards with giant annual fees.

1. Depends on your income and liabilities. 6 applications a year isnt many.
2. Citibank waiting times? Suggestion is 6 months. Others report different experiences.
3. It depends.

No one is going to give you a definitive answer to any of your questions. These types of questions come up frequently. I'd encourage you to read the various threads as all these questions have been covered. In short 'It varies'. The better your income and ability to repay the better off you will be.

You will need to include AMEX if you are serious about churning.

Churning isn't for everyone. But if you are prepared to play the game there are millions of points up for grabs.

 

[Scr77]

Start a spreadsheet to track application/cancellation dates, limits etc. You will have to find out what works for you.

I’d wouldn’t worry too much about how many cards you apply for. Concentrate on cancelling as soon as you get the points and move on to the next.

Apply for the minimum limit you need.

The high Amex fees can be offset by travel vouchers or free accommodation etc, so have another look.

Read terms and conditions carefully. Things like anz rewards cards are separate to anz qf cards, so you can hold both at the same time and earn bonus points.

Don’t be discouraged when you eventually get declined. I can never get any Citibank backed card for some reason. Now that I know this, I can concentrate on other brands.

Have an idea of what redemption you’re aiming for so you can have the points in the correct program.

 

[Hvr]

What are your financial goals? Will you need a home loan in the future? If so then maybe churning isn't for you because it will cause all sorts of entries on your credit record that banks will not like.

As always, do what is best for you and remember that you must look after yourself.

Good luck.

 

[JennyMG]

What are your financial goals? Will you need a home loan in the future? If so then maybe churning isn't for you because it will cause all sorts of entries on your credit record that banks will not like.

@Hvr
We're almost retired, working as we want to. In good position for retirement, no loans at all, or in the future.
I don't think I'll care much what the banks think??? (or will I?) as won't be getting loans of that nature. Maybe loans against the equity in investment property once to finance a unit which will pay itself off over time (with sons helping). That's about it.
I would be interested in what you mean about "All sorts of entries on your credit record that banks will not like". ??

@Scr77 "concentrate on cancelling" ? .... you said 'as soon as you get the points'. Is that a 'churner's normal practice? Immediately the points are there? and then straight away apply for another? Is it perhaps safer to cancel, then wait a few weeks, then apply? or would it make no difference?

I found your whole post reply very informative, Scr77, thankyou. Little bits in there that a newbie can use. I thought 'apply for the minimum limit' was a good idea. I never thought about it much, but as I really don't need a big limit on anything, (in fact don't really need credit at all...except for the points) I can apply for the smallest limit, and it would make it more likely to get? (more likely, being the operative phrase).

"...what redemption you’re aiming for so you can have the points in the correct program." You mean Qantas / Velocity etc? I'm just going the Qantas at the moment. I do have velocity, and Flying blue, but am not interested in collecting them. Thankyou for making me re-examine Amex. (PS, I love spreadsheets.)

@Dr Ralph, thankyou. I understand it's a bit of a ballpark bunch of questions. But some great answers there. I was a bit careless with my first application a few months ago. That won't happen again. It was a simple mistake that I have learned from, thatwas a result of bad timing. I think I'm in quite a good position to get a few cards.
I don't think Mr.JMG is up to the game at all. He thinks it's a bit of a waste of time.And he hates talking to people on the phone.
I couldn't care less. Do the 20 questions, scan the docs, email. Wait. Phone, answers, etc....all part of the game. No one will think it's a waste when I get 2 MORE biz seats to Europe next year. Thanks for all your help everyone. Oh, ps, looked at LOTS AND LOTS of threads. Would be nice if they were all in one place!! 'Churner's thread!'

 

[Scr77]

@Scr77 "concentrate on cancelling" ? .... you said 'as soon as you get the points'. Is that a 'churner's normal practice? Immediately the points are there? and then straight away apply for another? Is it perhaps safer to cancel, then wait a few weeks, then apply? or would it make no difference?

I found your whole post reply very informative, Scr77, thankyou. Little bits in there that a newbie can use. I thought 'apply for the minimum limit' was a good idea. I never thought about it much, but as I really don't need a big limit on anything, (in fact don't really need credit at all...except for the points) I can apply for the smallest limit, and it would make it more likely to get? (more likely, being the operative phrase).

"...what redemption you’re aiming for so you can have the points in the correct program." You mean Qantas / Velocity etc? I'm just going the Qantas at the moment. I do have velocity, and Flying blue, but am not interested in collecting them. Thankyou for making me re-examine Amex. (PS, I love spreadsheets.)

You cancel a card a soon as possible, because most cards have an exclusion period before you’re eligible for the point again.

The minimum limit can help with a successful application, but also, the application limit is also reflected in your credit file (credit savvy or get credit score)

As to FF program, yes Qantas or velocity. But there other good options like Krisflyer or storing in banks rewards program so you can transfer to the airline you need at the time.

 

[levelnine]

If you are nearing retirement, note that it will become significantly harder to apply for new credit cards once you no longer have an income -- that is, if you will be living off your savings.

Others will know the situation better, but it is something to be aware of.

 

[TripleB]

If you are new to churning and want to avoid high annual fees (which is a personal choice - the benefits which come with the high annual fees may not suit you) then you will be doing well if you can manage 3 churns a year.

In the last year you would have been able to hit ANZ, St George, Bankwest all with no or low annual fees. Then there are always modest annual fee offers from the likes of Westpac and NAB floating around.

I personally aim for 3.5 a year (churning an Amex every other year after sitting out their 18 months). A spreadsheet to keep track of your application and cancellation dates for each institution is a must.

 

[BriarFlyer]

You've received fabulous advise so far, so I will concentrate on one area in which I empathise: my partner also thought this was a waste of time and effort. UNTIL he took his first business long-haul and realised that he never wanted to fly down the back again. Suddenly he didn't mind the phone calls re "his" applications. Yes, I do the forms but I prepare him for the likely follow-up calls, because with self-employment they seem to want a ridiculous amount of paperwork. Amex has actually been the quickest, the least bother, in our experience. Hopefully your husband will see the light, too, after your first J trip (if not before.)

 

[JennyMG]

Hopefully your husband will see the light, too, after your first J trip (if not before.)

Husband is very pleased with our new bus. booking. But I'm not sure he quite believes it's true yet. I think he's waiting for the punch line.
Meanwhile, I'm going to go it alone, unless I can convince him otherwise. THEN he'll be sorry...ha ha.

 

[GSP]

I think most of the main points have been covered above particularly around taking lowest limit available and closing cards as soon as possible to start the clock to get the same card again. Regarding # of applications, I've consistently made in the 10+ each year without any issues.

One other snippet I would give you is given your aim is really looking at accumulating QFF points (and sorry for going off topic but it does seem relevant to your aim), yes CC sign on's and to a lesser extent CC spend earning will earn the majority of your QFF points. That snippet is looking at other ways you can earn QFF points which are covered in great detail on this site. Some examples would include:

• Red Planet Portal for doing surveys.
• Woolworths Rewards points and converting. That then extends to maximising WOW points which is another cottage industry in itself also well covered on this site.
• Qantas Wellness app earning some accumulated breadcrumbs.
• QFF store (I don't personally find much value there but may be useful to some).
• With AMEX (as mentioned above you should) wait for deals when adding Supp cards earns free QFF points.
• Uber trips that convert to QFF points (involves airport)
• Looking at other deals that get QFF points. Bankwest transaction account had a nice promotion that was very beneficial for points.
• Dining at restaurants (looks like this is back)

That is a few off the top of my head and there is many more. qantas site has a listing of the regular ways but always look out for other one off deals to take advantage of (Bankwest Transcation Account as mentioned was a beauty) Earn Qantas Points | Frequent Flyer

 

[casanovawa]

It was all a lot easier before these recent stupid comprehensive credit reporting changes and all the rest... Because a few people didn't know what they were doing they've tightened up the rules/reporting considerably which makes it a bit harder if you do know what you are doing...

Remember to also understand the value of earning and burning points, more than a few people try to aim for the cost of earning points at 1 cent or less to make sure they get value out of them as QF charge pretty high fuel surcharges etc....

 

[33kft]

Everything is cyclical - I think the "bottom" for CC earning gets called twice a year - certainly things like CCR, the banking royal commission, the AMEX deval and the new credit card legislation (such as *ahem* "no" retention bonus) over the past 12 months have been seen as catalysts for the "end of the game" but ultimately banks make money by pushing credit on people, they aren't ready to give that up just yet, so my piece of advice would be to be agile, change as the game changes. Best way to do that is hang out here and read all the relevant threads, and keep on earning.

 

[JennyMG]

@GSP - WHAT a great post. I'm a little tentative about making TOO many applications as have just started (2 years) my own business with good success, before that, just a mum for a while (def. should get LOTs of bonus points for that.
But what I liked was your list...it made me feel good.

* Woolworths online / Caltex - (triple dip - through qantas portal, with Woolworths rewards and pay with bankwest QFF card. - CHECK.
* qANTAS wellness app - check (though not very good at the steps, because online too much doing this!)
*Qff store - not really, more the online partners. 7 points per dollar for a slow cooker the other day!
*bookig hotels, air bnb etc.
* ebay
* red energy.....and more.....got it all happening.

But I do want to ask some questions (sorry, yes more....) about your post.
?Red Planet Portal???
?WOW points??
re Amex ?Supp?? cards? .......I don't know what any of those things are. Guess I'll be googling.

Remember to also understand the value of earning and burning points, more than a few people try to aim for the cost of earning points at 1 cent or less to make sure they get value out of them as QF charge pretty high fuel surcharges etc....

I'm assuming you mean (because I'm so new at this) that the 'cost' of QFF points if you buy a 'toaster' out of the Qantas shop, is very high. But if you buy a reward flight, it's very low. Similarly if you buy woolworths groceries and pay a 15.00 delivery fee, the QFF points come at quite a high price, while groceries paid with a QFF card, earning ww points AND through the Qantas portal, with NO delivery fee, are much cheaper?
If I'm misunderstanding, please correct me. I'm learning heaps here. I'm just making sure I get what you mean.

 

[CaptJCool]

Or Wine

Explained on here...

How to Buy Qantas Frequent Flyer Points

Need some more Qantas Frequent Flyer points for your next reward?

www.australianfrequentflyer.com.au

 

[GSP]

[have just started (2 years) my own business with good success, before that, just a mum for a while (def. should get LOTs of bonus points for that.

If only QFF worked out a way for paying points there!!

?Red Planet Portal???
?WOW points??
re Amex ?Supp?? cards? .......I don't know what any of those things are. Guess I'll be googling.

- Check the Red Planet Portal thread. It is invitation only to get onto it, not sure how (I got invited a long time ago so not sure how it works), but you complete surveys for 5-15 mins for 100 to 300+ QFF points. All addes up.

- WOW points, I was referring to Woolworths (as in WOW) points and all the ways they can be accumulated and then converted to QFF points.

- AMEX. Yes I've had a few occasions when holding an AMEX card, they say add a Supplementary Card holder to get say 5k QFF points. easy thing to do, but it's a bit of right place at the right time. But just outlining another opportunistic way to keep the balance slowing rising up.

Hope that helps.

 

[CaptJCool]

If you are nearing retirement, note that it will become significantly harder to apply for new credit cards once you no longer have an income -- that is, if you will be living off your savings.





Others will know the situation better, but it is something to be aware of.

I’m in the next year about to find out what the possibilities are here. My super is a hefty taxed river of gold without many options to prune it down being under super preservation age so it’ll be interesting to see banks stance on these lucrative rivers of gold once child support is over, home loan paid off and tax holiday after age 60.... if anyone has had any experiences to mention, that would be helpfil

PS I KNOW a couple of younger 30s guys who are churning and they seem pretty happy with how it’s working for them..

 

[JennyMG]

I’m in the next year about to find out what the possibilities are here. My super is a hefty taxed river of gold without many options to prune it down being under super preservation age so it’ll be interesting to see banks stance on these lucrative rivers of gold once child support is over, home loan paid off and tax holiday after age 60...

Yes, I’m 57 so a few years to go, but same situation. No home loan,(paid off) no cc debt, I have plenty of savings - but what banks were still interested in is my cards and weekly groceries???? And my little business income around 70k.
I’m very interested to see what happens in next 5 years, but also a little nervous that if I cancel all my ( and husbands) ‘good’ cards( eg we like our recent bankwest master world qff card) that we mightn’t be able to replace them at some stage.

 

[CaptJCool]

but also a little nervous that if I cancel all my ( and husbands) ‘good’ cards( eg we like our recent bankwest master world qff card) that we mightn’t be able to replace them at some stage.

Then keep open the good one as a dormant back up (or even use it as the business card) while applying for the next one)?

 

[JennyMG]

OK.
Do you think there is any problem with a husband and wife both applying individually for the same card at the same time. (Assume we each have our own finances to 'declare' which will be acceptable). Do you think one of us would be declined because both of us are applying? Would they notice? Or would it be better to ensure we apply for a different card each, from a different bank. Any pros or cons?