Easiest way to secure 250k Velocity points

[Bakks]

Currently have AMEX Velocity Platinum, so that's not an option. Thinking the below:
- apply for Virgin High Flyer cards for wife and I (120k each over 3 months)
- cancel AMEX for wife and I and secure 15k each retention bonus
- add each other as additional card holder for 5k each

This gets us there, and then some. Is this the best option?

(also, is this the best spot to ask this question?)

 

[Dr Ralph]

So you haven't considered actually spending money on your card to earn points or even taking a flight? You said 'easiest way'. Spending money or taking a flight seem easier than what you propose.

 

[Bakks]

Spending money is a given, but I don't spend enough to earn 250k in three months. Likewise, say a $400 flight (equivalent to the annual fee of a card) is only going to earn me <10k points.

Applying for credit cards and making a few phone calls is an easier way to accrue a lot of points quickly IMHO! That said - if I am missing something I am open to suggestions.

 

[JohnK]

Applying for credit cards and making a few phone calls is an easier way to accrue a lot of points quickly IMHO! That said - if I am missing something I am open to suggestions.

That is the fastest and easiest way to earn points. Churning cards is fine but just be careful you don't damage your rating.

 

[Spongbob]

And I will add, what do you plan to do with the FF points?
Do not confuse the means (ways of gaining points) with the end (using the points).

 

[Bakks]

I want to use them to secure two business class return flights from Europe with Singapore Airlines (I already have enough points for one way, so the extra are to get me home again).

 

[Daver6]

Take out a NAB home loan. Pretty sure you can convert the 350k NAB points to half as many VA points. Gets you a good chunk of the way there.

 

[theblank]

Churning cards is fine but just be careful you don't damage your rating.

this is true, if you apply for too many credit cards, it will impair your ability to get approved for new credit cards (or other expensive unsecured debts with auto assessments)

 

[Duffa]

- apply for Virgin High Flyer cards for wife and I (120k each over 3 months)

I'm only seeing 80k each - is there a targeted offer?

 

[Duffa]

this is true, if you apply for too many credit cards, it will impair your ability to get approved for new credit cards (or other expensive unsecured debts with auto assessments)

+1 - I was Veda'd for about 15 months after too many card applications, despite paying top rate tax