Keep Card Open for The Bonus Points in The 13th Month?

Lbabipanggang on 01/03/2023 - 17:19

Hi,

I currently have the NAB Signature Qantas card, which I opened in October 2022 (https://www.nab.com.au/personal/credit-cards/qantas-rewards/…). I have met the spending criteria and received the 90k bonus points.

Should I keep the card open to receive the extra 30k points in the 13th month, and then close the card, or should I just close the account now and forego the 30k points?

Note: I've asked the bank whether the 1st annual fee can be pro-rated, which they responded no, but the 2nd annual fee can be pro-rated (So there is no incentive to close the card early, apart from the fact that I can reset the "waiting period" to apply for the card again next time).

Thanks.

Financial

Comments

  • Donaldhump on 01/03/2023 - 17:28
    +3

    nope close and get the next card

    • bobwokeup on 01/03/2023 - 17:58

      Well that depends if OP wants to churn cards. Could always keep it and churn if that’s the only credit card they own. I have my NAB Signature one as part of my loan and churn other credit cards. Actually some on here even have 3-4 credit cards which I don’t want to risk as I could get denied.

      • aragornelessar on 01/03/2023 - 19:07

        I've always wondered about that - whats the limit on the Signature you keep? I thought other CC's would see the existing card and decline you, thinking you're likely not able to service both cards - or is that what they want?

        • bobwokeup on 01/03/2023 - 19:24
          +1

          I just keep it at the minimum $15k. Yeah they do see them now (been like that for a couple of years I think) but if you can “service” more than one they don’t care. I didn’t realise until recently they focus on the income, they don’t care how many assets you have or how much cash in the bank, they just want to know if you can afford X amount of potential debt.

      • Donaldhump on 02/03/2023 - 09:50

        nab is one of the easiest cards to score the 100k points on, churn that today and get again in 366 days, no point keeping it open.

        i have an ing card for every day crap and d/ds (which never trigger as i pay in advance to get spend bonus) so my wife doesn't complain.

        i have 4 cards, hard to keep track of some times, but managable.

  • MrThing on 01/03/2023 - 20:00

    big fat nope, spend the required asap, get the points and bail asap

    renew and churn again in 12months

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