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?
but how does churning of credit card benefit you? you are going to pay off for each month anyway it's not like Kogan spinning a deck of credit cards to kick start his business.
Bonus points and cashback
I’ve gotten 800k qantas/vff points in the last year from credit cards. Enough for a couple of flights!
SIM cards every month
How much do you pay a month if you're churning? I used to do this, but figure $170 boost sim for the year is worth the time saving.
Boost either $1-3 or sometimes it used to be in profit.
Lebara or Konec $5-6 on sale
Per month prices. A few mins of time to port and swap the SIM.
Is churning credit cards really worth the effort?
I only use mine occasionally its always paid off within a week ive only ever had the one credit card and ive had it for about 30 years.
Are you using your credit card solely for the points?
How I use my credit card apart from points is to keep your cash in either high interest savings account or offset account (if you have mortgage) for as long as possible and pay your credit card at the very last day possible without incurring interest or late payment fee.
You definitely need to know the game to play this credit card churning. Some of them are pretty straightforward where after 3 months, you get the credit amount back. Some you get the point system where you need to know what the dollar values are.
I personally don't play it because I haven't researched it enough to be confident to do so as I have a mortgage and 2 other credit cards that I use for certain purposes. How churning through them would affect your credit rating or other things I don't know that I don't know.
Churners are in it for sign-on bonus points. You need to be sufficiently affluent to cash flow membership fees across multiple cards per year in return for an excellent points return per dollar. You also need to meet the minimum spend requirement for each card.
I was chatting with a mid-20s colleague a few months back, he's accrued over a million airline points. Pays next to nothing for international flights.
If you have decent expenses to reach min spend criteria, it takes 10 minutes to sign up, and not more than 30 minutes for most for all of the admin. Given that's usually an international flight of sign up bonus (say, 80k points), the earn rate can be approx $2000 an hour.
Hello Fresh/Marley Spoon/Dinnerly etc
Get first offer then cancel after delivery. Join the next and repeat. I get 40-50% off emails every few weeks and cycle between each service.
Have been doing this for over a year now once or twice a month depending on the offers.
Cheaper to buy the ingredients at aldi and buy a good recipe book like reciepetineats dinner
Far from a hack, the likes of Marley spoon etc are profiteering off the laziness of people
With the discounts its good value for the convenience, IMO. Ends up being around $3.50-$5 per serving.
Different meals every day with no wastage and I don't have to plan what to make and shop in advance.
Each to their own but its still something you can "churn" and worth posting here for others to benefit from.
Don't they ban your address? I can't use discounts anymore.
I only ever use the discounts that have been emailed to me from those companies.
I think if you create a new account pretending to be a first time customer, that flags their system
Fair enough, that's what I did.
Wow, i am interested to know how much QFF bonus point you have collected?
About tree fiddy
Not who you were asking but I've earned about 2m Qantas, 900k Velocity, and 700k Marriott points between earning and flying/staying. Been churning for over a decade but have slowed down more recently.
Unable to crack the US market as Amex keeps rejecting me nowadays (which is common with churners lately) - wouldn't even give me a $2k limit card that didn't come with a SUB!
Nice :) Would you mind telling how earned the Mariott points?
what do you mean churn?
Gaza
I've done quite well out of a few bonus points offers on pet insurance this past year.
anything with a 'sign up' bonus but no lock in contract
Third party car insurance. Though not sure if its a QLD only thing and I think only QBE offer a gift card now.
Some do investment property
Spouse. I got 2 ex-wives and 1 ex-husband all paying me child support and alimony.
Is there a good credit card to churn to today?
The American Express® Platinum Card, receive 275,000 Bonus Membership Rewards® Points
How about to churn away from them?
Annual Fee is $1,450 p.a.
That’s not that much.
Ozbargain accounts. Make a thread asking a question about doing something unethical, don't get the response you want, disagree with everyone and deactivate your account.
I got $6k cash from the home loan churn, and flew Qantas business class from credit cards churn and still have over 800k QFF.
If I don’t do anything I would get nothing.
I cycle insurers for each of my 17 investment properties.
Does any of these churn impacts the credit rating?
wanted to know about this too…
I churned my mortgages almost monthly when all the banks were offering $4k cashbacks.
Made like $20k tax free
Yeah those were the days. I made $12k or something.
Are there any catches to churning home loan providers?
Yes all of the above. In general if your serviceability is good shouldn't be a big issue.
I've churned and left after a month
Health Insurance.
the 6 weeks free offers,
Churn and burn.
Can I ask what the benefit is in churning?
Being a new customer forever.
Sweeteners.
You're basically just collecting whatever incentives they have for new customers.
Like $4,000 for switching your mortgage.
Open for the bonus and close after.
Then rince and repeat with different companies offering bonus's