Credit Card Churning?

Fishballs on 15/07/2022 - 17:39
Last edited 15/07/2022 - 17:41

For the first time in my life I have a stable full time job and can actually get approved for credit cards. Researching a bit on here I've heard a lot of mentions of credit card churning to get the most out of them. I recently took advantage of the commbank $300 cashback offer for their low fee credit card, but now I'm not sure where to look for my next card or if there is one that is good to keep as my "base credit card" and churn through others as offers arise.

Their has been a similar thread focused on maximising travel points, I'd be more interested in getting cashback like the recent commbank offer.

Also can anyone explain the benefit of AMEX, I know so many places don't take it or have surcharges in place so do the benefits really outweigh these cons.

Any advice appreciated.

Financial Credit Card

Comments

  • jv on 15/07/2022 - 17:47
    -5

    For the first time in my life I have a stable full time job

    Congratulations…

    • Fishballs on 16/07/2022 - 19:39

      Confused by the downvotes, but thanks

      • jv on 17/07/2022 - 01:36
        +1

        It’s the unemployed OzBargainers.

  • jv on 15/07/2022 - 17:50
    +2

    Also can anyone explain the benefit of AMEX

    They have an office in Hong Kong…

  • capslock on 15/07/2022 - 18:08
    +1

    An AMEX on its own is nothing special. You have to compare the benefits as you would with Visa or Mastercard.

    Sometimes AMEX has cashback offers which you see posted as bargains but they are not consistent or plentiful enough to make AMEX essential.

    Years ago AMEX paid out more points per dollar spent compared to other cards but that is not true anymore.

  • USER DC on 15/07/2022 - 18:22
    +1

    amex is not really something that special
    as you already know its not accepted in so many places, (Neverthless it's accepted in a lot of places like coles/woolworths/jb hifi/BP/ampol/ etc major aussie retailers and Paypal)

    The good thing with amex is their smart phone glass replacement cover I think, and the amex statement credit offers if any relevant to you and decent, and you earn Amex points if government spent unlike other Visa/Mastercard CC.

    Whatever you do YOU NEED A VISA/MASTERCARD CC as a Backup ALWAYS incase your Amex decides to give out problem at some retailer

  • Vote for Pedro on 17/07/2022 - 09:40
    +2

    Growing up, me and a close mate were quite poor. As soon as he finished uni he got a job in finance and instantly got an amex. When I asked him why, he explained (in a roundabout way to avoid actually saying it) that it was basically a status thing.

    Naturally I rolled my eyes.

    However his attitude continued - the arrogance and snobbishness he displayed towards retail workers and airline staff (that I saw) really irritated me and I called him out on that. We are no longer friends.

    • watwatwat on 17/07/2022 - 18:49
      -4

      Cool story bro.

      • Vote for Pedro on 17/07/2022 - 18:52
        -4

        Ty

        Explaining the ‘benefit’ of AMEX as it was specifically mentioned by Op.

        Essentially it’s for someone with a big ego and small d…

        • daft009 on 17/07/2022 - 22:58

          Wow talk about a generalisation.. sample size of 1!

        • watwatwat on 18/07/2022 - 11:50

          Explaining the ‘benefit’ of AMEX as it was specifically mentioned by Op.

          Yes. And your story told of your friend who got a card and then didn't pay it off.

          So… you didn't explain any of the benefits, did you?

  • daft009 on 17/07/2022 - 23:01

    Amex usually has the highest points earn per $ spent. And other credits that could offset the annual fee if used wisely.

    Lot more places accept Amex in the last 2yrs. Now it's quite rare to find someone who doesn't

  • Vote for Pedro on 18/07/2022 - 07:28
    -1

    The reddit thread on Amex is good value:

    First and most important, the fee does not really bother me as I can afford it, but I desire high quality and superior service.

    And…

    There is also a bit of brand prestige to it

    And…

    Some of it is social, it means you have money to blow on a American Express Platinum with an absurdly high limit to impress people with. It's a status symbol.

  • MrrMagic on 18/07/2022 - 07:34

    Hi mate, I can't help with AMEX as I personally can't justify the annual fee.

    I've just signed up to humm90 as they have $400 cashback.

  • Garrettau on 18/07/2022 - 17:40

    Westpac platinum no fee 1st year , 110k pts

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