Downward Trend in Referral Offers

[exceladdict]

Qantas website as of today, through to 4/4, is promoting 75k sign on with 25k in the second year, alongside a 20k for new cardholders bonus which would apply to any card. Amex website showing the same 75/25.

The one referral offer I've clicked on seems to be down to 55k, which is unusually low (usually they at least equate to the public offers). Has anyone noticed differently?

 

[exceladdict]

Amex website today offering "exclusive offer" of 70k; Referral offer found from an old thread showing as 60k, as it the qantas cards website.

Meanwhile, top tier cards at westpac and NAB offering 'up to' 120k; ANZ 110k with $255 cashback, Citibank 100k, St George offering 90k. Even platinum / premium cards are offering higher sign on bonuses than Amex.

 

[burmans]

I think this may be the year we see some decent signup offers. The past few years have been easy money for the banks (and customers), but with tighter credit good customers (emphasis on good) are harder to find and the best way to get them is to entice them from elsewhere. Already seeing this with home loan signup offers, got a mail today from Amex they are temporarily increasing referral (Amex Velocity card), I expect if anything this will increase.

 

[exceladdict]

I think this may be the year we see some decent signup offers. The past few years have been easy money for the banks (and customers), but with tighter credit good customers (emphasis on good) are harder to find and the best way to get them is to entice them from elsewhere. Already seeing this with home loan signup offers, got a mail today from Amex they are temporarily increasing referral (Amex Velocity card), I expect if anything this will increase.

Let's hope! I've been waiting for a year or so to get back on board with this card.

 

[I love to travel]

60k at the moment. I remember days of 100k

 

[exceladdict]

60k at the moment. I remember days of 100k

I feel like I remember 120k plus status credits! Oh, for the glorious past...

 

[levelnine]

Fascinating how bad it has gotten with Amex. While we've seen some pullback from other banks in Australia, especially to discourage churning, the sign-up bonuses are still very high. And Amex USA is offering record high bonuses on many cards.

 

[I love to travel]

Anyone want to hazard a guess on when they will next change their offer?

 

[exceladdict]

Anyone want to hazard a guess on when they will next change their offer?

I've been waiting for a good offer since April 2022

 

[I love to travel]

I've been waiting for a good offer since April 2022

Given I have churned through the majors I might try citi 100k and wait for Amex to improve.

 

[Daver6]

I've been waiting for a good offer since April 2022

You might have been better off just taking whatever that offer was, cancelling after a month and waiting the 18 months.

 

[levelnine]

You might have been better off just taking whatever that offer was, cancelling after a month and waiting the 18 months.

I agree. It can be a losing game waiting for a larger bonus in Australia. Churn and burn as quickly as possible to restart the waiting periods seems to be the most profitable route. As long as I'm buying QFF points for under $0.002/point (ie (annual fee - credits)/points), I'm a happy camper.

 

[exceladdict]

I agree. It can be a losing game waiting for a larger bonus in Australia. Churn and burn as quickly as possible to restart the waiting periods seems to be the most profitable route. As long as I'm buying QFF points for under $0.002/point (ie (annual fee - credits)/points), I'm a happy camper.

Oh I've been using other cards during this time, just hesitant to grab anything on this card that's not generous as it is historically given the big annual fee. Rarely pay $ for qf flights, so the credit on this card isn't a direct cash equivalent for me.

 

[I love to travel]

Interesting 10000 more points by using mobile phone as opposed to laptop. Go figure??