So I have been churning credit cards (QFF and rewards points) since around 2020. Looking at my records it was like 24 cards churns in the last past 4 yeas, and at one point I did maximum 8 credit cards churn in 2022.
Also I've done the home loan churn 2 times in the same period.
Now I realised I can do the electricity bonus credit churn as well as the NBN's which I didn't think I can do.
Is there any other financial produce that you can recommend to churn for extra cash?
How does that work with cooling off periods etc
Same with girls.
Cooling their spending can be the same risk.
@easternculture does
Every 10 to 12 weeks (depending on free week period)
Internet providers
Gas if you still use that
Prime, Onepass, Woolworths premium.
Spouses
Life hack 101
Came here to suggest same
Surely the hidden costs of this is astronomical.
Can home insurance
This is interesting. I am with the Qantas insurance for the bonus QFF, and now half way through.
Any good deal to switch to?
NBN providers
milk
milk
That makes sense. Cheese.
I literally googled it with milk nbn provider 🥲
Interested to know… what redemption yields have you achieved?
more than 2%
I'd donate a kidney for 2%
@askbargain: I ran a pub test on that card, everyone looked at me like I was an idiot. Clearly I'm not the target demographic…
Credit cards are by far the highest.
Spend $3k on stuff you would have bought anyway and get $600 in Coles vouchers etc
Butter.
Does the connection cost matter with electricity or gas?
Nope. No connection cost
Home loan
Another part of your strategy to perhaps consider… most service providers don't reward loyalty but some do. Sure, churn and win with products where the provider doesn't rate retention but stick with the rare few who actually reward loyalty. I get some great free stuff but regret I'm not gonna post it in a public forum.
There's zero chance that any loyalty bonus is higher than churning
I'm confident OP won't be able to churn forever, not taking anything away from the exceptional churn rate until now
Churn till you burn.
Girlfriends with rich parents.
ice cream
Anything with free initial trial period. Streaming services, watch for 7 days then quit.
Amazon prime trials. They offer me a free trial every 6 months or so (on the same account). I have never gotten prime except for with the free trials.
Here is the list:
1. Credit Card
2. Personal Loan / Home Loan / Investment Loan
3. Saving/Transaction account promo
4. NBN
5. Private Health Insurance
6. Electricity & Gas
7. AIA Vitality
8. Fitness Passport for gym/hot shower
9. Tax refund on travel
10. Churn with other countries credit card
11. Doordash/Uber/Food accounts for cheap food
Would you be able to elaborate on 10 please? Is this if you're a citizen of another country?
Turkish home loan: Their RBA rate gone to 50% !
Yes. Let's say you are interested in US credit card. You can start by getting ITIN number and then open a bank in US. It lets you have a bank account in US and you can start applying for low credit score credit card. After few years, you should be able to start applying for high value travel credit card or high cash back credit card.
Interested in UK credit card? You can start by subscribing to those mail forwarding services. Start by opening a bank account, slowly move toward low score credit card, and travel/cashback credit card.
Interested in Singaporean credit card? same loop as above.
If you have a permanent resident or working holiday visa coming up in another country? Apply for credit card there and same loop as above.
Of course the caveat is that you have to make sure you have a mail forwarding service so you can actually get those cards….
diff between 5 and 7?
7 - I actually subscribe to AIA Vitality through a cheap AIA Life/TPD insurance inside super. In my opinion, it charges the premium via my super but I get 50% off on Virgin flights and $260 + $500, albeit it costs ~125 (outside super) a year but you also get up to 20% premium discount on life/tpd insurance.
Hell…my returns and income from super are more than enough to cover my cheap Life/TPD premium so I'm okay with paying that premium.
do you know the minimum cover needed to get AIA vitality and not starter?
@askbargain: I am not sure on the minimum, I have 500k Life/TPD (Any occupation) and it costs me $400 a year. That's inside super so technically only $340 (after 15% tax).
I know someone who churns jobs - new job around every 12-15 months
In America most banks have stopped credit card churning by only offering a welcome bonus once per lifetime (rather than 12-18 months like we have here).
It's something that never existed here and has since been exploited relentlessly by customers with high financial literacy and abundant cashflow. All power to them, but they represent a fragment of a minority. The rich easily get richer. Asking about churning in these forums is a brag which is less than humble.
wtf no, no person who is actually “rich” gives a shit about churning. The churners are just middle class battlers with decent credit.
What is a churn ?
Someone on this site churns health insurance.