Credit Card Strategies (intrigued)

[exceladdict]

If your strategy is to churn cards ASAP (as soon as points land in your account) then why set up direct debits? You will then need to direct these to a new card. Why create extra work?

Often, direct debit has no fees but cc payments have a nominal fee. You can avoid with beem it etc, but not always reliable

I should have pointed out in my previous post that I will retain (not close) my two Westpac Altitude accounts as a lot of my banking is processed through these cards. That includes a massive number of direct debits. From a churning perspective, not the most efficient strategy but one I am comfortable with.

I do this with my main card whose fee is offset by a home loan package. Also keep cards open from time to time for complimentary travel insurance (inclusions for which vary a bit between banks)

 

[big_RED]

One thing I've done in the past is setup all direct debits via PayPal (or as many as I can) and then all I need to do when I get a new CC is update my PayPal credit card payment details to the new card and a dozen direct debits all move to my new CC.

 

[MG1]

Thank you to everyone for your responses and tips: much appreciated.

If we pick a bank/institution that is a subsidiary of another bank do we still get the bonus if we've recently finished a card from the main bank, or vice versa. For example, if you closed a WBC card five months ago and start a St George/BankSA/Bank of Melb (StG) card today, would you still get the StG bonus or does the recent closure of the WBC card prevent this?

 

[Stargazer]

I have wondered about this too. I guess it depends if the main bank and subsidiary banks computer systems are sufficiently integrated. Thought I would give this a try and see the outcome.

 

[Rich]

If we pick a bank/institution that is a subsidiary of another bank do we still get the bonus if we've recently finished a card from the main bank,

Read the fine print in each case. Don't rely on this, but I was looking at CitiBank recently and could not find any reference to NAB (who now run their cards), so I assume you would be ok. I have never tried it though.
An example of an exclusion is Bank of Melbourne who explicitly state there are no bonus points if you've had a BoM, StGeorge or BankSA card in the past 12 months.

 

[N860CR]

It’s only an issue if it says it’s an issue. Citi (so now NAB) underwrite a huge number of credit cards (qantas money, virgin money, suncorp, Citi cards etc etc) and there’s nothing stopping you getting the bonus on them all.

Interestingly, Citi doesn’t even have an exclusion period for some of their own branded cards (ie Prestige has no 12 month waiting period from Premier)

 

[MG1]

It’s only an issue if it says it’s an issue. Citi (so now NAB) underwrite a huge number of credit cards (qantas money, virgin money, suncorp, Citi cards etc etc) and there’s nothing stopping you getting the bonus on them all.

Interestingly, Citi doesn’t even have an exclusion period for some of their own branded cards (ie Prestige has no 12 month waiting period from Premier)

Interesting - I will keep this in mind. So it appears, according to your response, with my WBC and StG/BSA/BOM example above, that, in theory at least, you should get the bonus for each one unless it explicitly states WBC in that list. I will keep an eye out and scan over the terms carefully.

I was looking at CitiBank recently and could not find any reference to NAB (who now run their cards), so I assume you would be ok. I have never tried it though.

I was wondering about this too.

I have wondered about this too. I guess it depends if the main bank and subsidiary banks computer systems are sufficiently integrated. Thought I would give this a try and see the outcome.

Stargazer, if you do give this a go, I'd be interested to know the result. Let's hope that the points come your way.

 

[CaptainCurtis]

Interesting - I will keep this in mind. So it appears, according to your response, with my WBC and StG/BSA/BOM example above, that, in theory at least, you should get the bonus for each one unless it explicitly states WBC in that list. I will keep an eye out and scan over the terms carefully.

That is correct. Westpac (the brand) is treated separately from St George (the brand, including BSA/BOM) for the purpose of credit card sign-on bonuses.

 

[MG1]

That is correct. Westpac (the brand) is treated separately from St George (the brand, including BSA/BOM) for the purpose of credit card sign-on bonuses.

Thank you very much for the confirmation.

 

[_TheTraveller_]

What are people's strategies with their permanent cards? Which Amex and MC/Visa combo do you guys use?

I've kept dragon amplify for a while as it's my main spender for non-Amex transactions with a decent earn for KF.

 

[Dr Ralph]

permanent cards?

I know of no such thing.

 

[snabbu]

28 degrees I keep (and have kept for 10+ years) with the minimum limit.
That's it though, everything else is churned.

 

[exceladdict]

What are people's strategies with their permanent cards?

Amex sign up bonuses are too good not to churn; I've held onto cards included with mortgage packages from time to time, especially when they have included benefits like travel insurance, no forex fees and/or don't have as lucrative sign up bonuses

 

[Bolt]

It’s only an issue if it says it’s an issue. Citi (so now NAB) underwrite a huge number of credit cards (qantas money, virgin money, suncorp, Citi cards etc etc) and there’s nothing stopping you getting the bonus on them all.

Interestingly, Citi doesn’t even have an exclusion period for some of their own branded cards (ie Prestige has no 12 month waiting period from Premier)

Cool? So, even if I've held a QANTAS Premier in July 2022, I can apply for a Citi Virgin Prestige right away in January 2023? Sounds like a deal.

 

[Bolt]

On another note, does anyone know about churning a bank's QANTAS cards vs their Virgin vs Bank Rewards Points? In other words, can you churn a QANTAS card, followed by a Virgin card from the same bank within 12 months?

 

[levelnine]

In other words, can you churn a QANTAS card, followed by a Virgin card from the same bank within 12 months?

You need the specific terms and conditions on eligibility for each individual card. For some providers, the answer is generally no (eg Amex). For others, it is generally yes (eg ANZ).

 

[N860CR]

Cool? So, even if I've held a QANTAS Premier in July 2022, I can apply for a Citi Virgin Prestige right away in January 2023? Sounds like a deal.

with the Citi cards yes (I have three at the moment). Amex no.

 

[Airbumps]

You need the specific terms and conditions on eligibility for each individual card. For some providers, the answer is generally no (eg Amex). For others, it is generally yes (eg ANZ).

I’ve been churning for years and never realised this! So you’re saying that if I just closed an ANZ Frequent Flyer black after claiming the 100,000 QF points, I can immediately sign up for the ANZ Rewards Black and be ellidgle for their rewards bonus points (to transfer straight to velocity)?

Post automatically merged: Jan 22, 2023

with the Citi cards yes (I have three at the moment). Amex no.

Is there any orderin which you can or can’t get the bonus points? I was looking at going straight for the prestige for the 300,000 rewards points and transfer them to VA….from what your saying I can immediately apply for the Premier and claim those bonus points as well??

 

[N860CR]

Is there any orderin which you can or can’t get the bonus points? I was looking at going straight for the prestige for the 300,000 rewards points and transfer them to VA….from what your saying I can immediately apply for the Premier and claim those bonus points as well??

There’s nothing the T&Cs restricting it so either way will work.

Citi previously seemed to have an unwritten rule that they would approve another card within about 3 months of applying for another one of theirs. That seems to have gone out the window as I got 3 Citi cards in the space of 2 weeks (the caveat being that none had appeared on my credit file).

I’d be cautious about running the premier and prestige at the same time as they’ll be in the one login and I can see that causing problems

 

[Airbumps]

There’s nothing the T&Cs restricting it so either way will work.

I’d be cautious about running the premier and prestige at the same time as they’ll be in the one login and I can see that causing problems

Ahh, yeah I see that the conversion rates to the airlines are different based on what kind of card you have.....