Looking for Some Tips on Credit Card Sign-up Bonuses

Ltightsphincter on 06/09/2022 - 10:19
Last edited 06/09/2022 - 10:52 by 1 other user

Hi, I am hoping this is posted in the right section.

I am looking to take advantage of some upcoming spending that will be taking place in the next 2-3 months (wedding, honeymoon, surgery). Was doing some research on some black cards offering 100,000+ points for min spend in 120 days, and was assessing the upcoming totals for the events and realised I may be able to reach those criteria 2-3 times. I am well aware this will probably cause my credit rating to take a hit and the plan is to farm the points then close the accounts but keep 1 ongoing with the best perks (lounge passes, points per $ etc).

Ideally I am thinking sticking Visa or Mastercard, I currently have a mortgage and wont be looking to refinance/move until 8-12 months so am thinking the credit rating and borrowing capacity shouldn't be impacted too far. I also understand that "giving financial advice" is generic but I am more thinking someone is/has already doing something similar and wanting to know what your method is/was.

Also if any of the cards have a referral where I can help someone out on the site here using the random referral link then I would love to as I have been gained some off this before which I greatly appreciate. I'm agnostic to QFF or Velocity, preference would be velocity but 200k+ points either way will go a long way whichever it is.

Financial Credit Card

Comments

  • TheMills on 06/09/2022 - 10:27
    +14

    This is a good place to start: www.rwrds.com.au

    • neonlight on 06/09/2022 - 10:43
      +1

      Nice one

    • tightsphincter on 06/09/2022 - 10:53
      +1

      a need a site like this for every decision in my life….spreadsheets be gone

    • tightsphincter on 06/09/2022 - 13:35

      i wish i could add more votes…took a lot of the work out of the searching thank you again!

      • TheMills on 06/09/2022 - 16:49

        I found it on OzBargain.
        Caution: The data that you save in the website regarding your CC application is stored in your browser cache.

  • freefall101 on 06/09/2022 - 10:30
    +1

    Search OzBargain for Velocity/Qantas or go here https://www.finder.com.au/credit-cards/rewards-credit-cards (or one of the million other sites)

    Never heard of a referral for card points before.

    Might get turned down if you signed up for multiple cards at once while they do the credit checks or you might not, banks are a fickle bunch.

    • blueyez on 09/09/2022 - 00:44
      +1

      Amex tend to do referrals, you might notice it on past Amex credit card deals as we can upload our referrals into OzB

  • USER DC on 06/09/2022 - 10:37

    Do you have enough income ? to get an expensive/ higher point per $ card ? get that one

  • blonky on 06/09/2022 - 10:39
    +2

    Also check champagnemile and pointhacks

    I'd say the current best offers outside of Amex are:
    * Westpac Qantas Platinum 70k Qantas points ($99 fee / $49 for existing customers)
    * St George / BOM / Bank SA 60k Qantas points ($99 fee / potentially $0 for existing customers)
    * NAB Qantas Signature 120k Qantas points (90k up front/30k after 12 months) ($295 annual fee but pro rated; if you cancel in 2 months the fee incurred should be ~$49)

    The other Signature / Black cards that offer 100k+ Qantas points seem to have a much higher annual fee ~$250+ per year, in the past I've seen them discounted to $0 with ANZ and Westpac

    • tightsphincter on 06/09/2022 - 10:44

      Thanks for that, I will try champagnemile, I find pointhacks hard to compare things with when it comes to the earn rates and value on the annual fee and overall advantages, some of their articles are really good while others leave you asking the same question you asked in the beginning.

    • blueyez on 18/09/2022 - 01:08
      +1

      Westpac and St George generally wipe the annual fee if you're an existing customer, easy to create a bank account so you can access the right link to apply hehe

      I've recently heard of anz black frequent flyer card offering 160k points for existing customers (applying via their app) which I intend to suss out soon. It's higher than what's publicly available

  • tightsphincter on 06/09/2022 - 10:42
    +1

    Thanks TheMills I will take a look, Ive tried doing my own analysis and reading though multiple pointhacks reviews on cards but just trying to see if someone has done what I am trying to do recently and can say what they would/wouln't do.

    Referral for cards exist, on the Amex Explorer card for instance I believe there's a 30,000 point referral bonus, at least there used to be when I had mine.

    Income should be fine, the blacks are higher point per card before you go into the expensive annual fees (>$500) along with some of them being limited to businesses that transact large amounts I am limited to personal cards.

  • Drakesy on 06/09/2022 - 12:37
    +1

    Churn and burn.

    Open a card while you're earning points take out next card then close previous card
    Repeat.

    • tightsphincter on 06/09/2022 - 13:04

      what i was thinking i will just do this. the link above is awesome for the comparison.

    • Benno007 on 16/09/2022 - 22:20

      Been doing that for a few years now but this year the offers seem particularly … shit. Have they cottoned onto us? Or do they not need people using cards 🙁

      • Drakesy on 16/09/2022 - 22:33

        Admittedly it hasnt been as good as pre covid
        However its still better than during covid

        Im thinking theyll get more competitive as time progresses
        At the end of the day
        Credit still makes money

  • impoze on 06/09/2022 - 17:15

    close as soon as possible, some cards will refund the annual fee prorata

  • twistedbow on 07/09/2022 - 00:51

    only get the card if your normal spending can meet the spending requirement. do not get it and spend unnecessary money just to meet the requirement.

    • blonky on 21/09/2022 - 09:45
      +3

      My tip is to buy discounted woolies/coles gift cards to hit the rest of the spend, guaranteed to get used on normal expenses

      • aneil915 on 21/09/2022 - 14:11

        I do the same thing.

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