Qantas credit card hopping

Dima

Newbie
Joined
Jun 10, 2021
Messages
2
Points
10
Hi all,

New job means that I'm going to be a fairly frequent flyer between Perth and Melbourne this year (return flight every two weeks) and was looking at the Qantas points I'll be banking. Was looking at the pointshack page and saw the points deals with various credit cards.

After having a look at the T&C's, it seems like each card has a minimum spend to get the points, then a period after you've signed up to the card where you can't apply for another (normally 12 months) with the same bank.

I was thinking of getting one card from Bank 1, spending to the limit, canceling it after 6 months, getting a new card from Bank 2 then repeat this 6 month cycle between the two banks. After the six months on the second card is up, I'll be eligible to get another card at Bank 1 again as its outside of the 12 month time frame. Basically I don't need the credit card at all, but just want to bank some points.

That being said, I don't want to do this if its going to end up with me getting blacklisted from setting up new credit cards or ruining my credit rating as I might actually want one in the future.

Does anyone else do this to bank points, or will this have some negative effect that I can't see?
 
Joined
Dec 6, 2017
Messages
367
Solutions
3
Points
230
Qantas
Platinum
Virgin
Red
That being said, I don't want to do this if its going to end up with me getting blacklisted from setting up new credit cards or ruining my credit rating as I might actually want one in the future.

Does anyone else do this to bank points, or will this have some negative effect that I can't see?

Hi Dima! Welcome to AFF.

This is quite a common practice that a lot of members here partake in. Officially the term is called credit card "churning". There's lots of good threads on this topic around the forums here including a number of bank specific forums that track the various sign up offers so do stick around - I promise you'll learn a lot!

As for the impact of "blacklisting" - I don't think this is common for banks to do this, however there can be impacts to your credit file due to the increase in enquiries and open accounts, all of which will have a bearing on your credit worthiness. The impact of this is very specific to your personal circumstances however - for example, if you're thinking of taking out a mortgage in the short term, it could be advisable to avoid this practice but as I mentioned it comes down to your individual circumstances.

Since you are starting a new role that involves a lot of transcon travel, do you currently have status with Qantas? If not, is there a desire to attain status? If so, you may want to consider some card offers currently running that include status credits as well as Qantas points as this could help you attain status quicker:

Qantas American Express Ultimate Card
$450 annual fee, however also includes a $450 travel credit to be used on Qantas flight each year
comes with 120,000 QFF points and 120 status credits when you spend $4,500 in the first 3 months (apply by 15 June)
18 month exclusion period

Qantas Premier Platinum
$225 annual fee for first year ($299 after)
comes with 80,000 QFF points and 80 status credits when you spend $4,000 in the first 3 months (apply by 4 August)
12 month exclusion period
 

sudoer

Established Member
Joined
Feb 23, 2015
Messages
2,506
Solutions
4
Points
825
Since you are starting a new role that involves a lot of transcon travel, do you currently have status with Qantas? If not, is there a desire to attain status?

What @dylarr has said is all great advice - I'd also add that you may want to smash out a couple of sign-ups in quick succession to:

a) hit Points Club so you start earning status credits on award flights which is what I assume you want to accumulate points for, and
b) potentially hit Points Club Plus for free Qantas Club membership, if you won't be flying business class

If you already hold QFF membership, find out when you membership year ends. If it's in the next month or two, try to delay your credit card bonuses to the start of the new year so you have the best chance of hitting PC+ and maximising the length of time you'll receive benefits.

Another option you might consider is a paid Qantas Club membership, which if you are travelling for work could be (at least partially) tax deductible. AFF supporters get a discount on membership as do ANZ Black card holders.
 

Dima

Newbie
Joined
Jun 10, 2021
Messages
2
Points
10
I knew there would be a term to describe it, I had a quick look and what I saw didn't really talk about negative effects on credit ratings/trustworthiness with banks.

I've currently got both silver status with Qantas and Virgin as work books both airlines depending on what is better for the schedule.

Also my membership year ends in September, kind of annoying as that's when I created the account but didn't earn any points till December. Meaning that I've lost three months to get to 700 points for Gold status, which I'll likely get anyway but it's a bit more stress.
 

Big John

Junior Member
Joined
Aug 26, 2020
Messages
46
Points
70
Hi Dima. Whilst on the subject of credit card churning, you may find Matt's webinar on Credit card churning useful.

The webinar will be held on on Wednesday, 16 June.

Link to sign up is on the right hand side of this page under "Calendar events".
 
Your simple solution to home security. Quickly view what’s happening at home when you're not there, giving you peace of mind.

Simple plug-in installation means you’ll be up and running in no time.

AFF Supporters can remove this and all advertisements

Enhance your AFF viewing experience!

From just $6 we'll remove all advertisements so that you can enjoy a cleaner and uninterupted viewing experience.

And you'll be supporting us so that we can continue to provide this valuable resource :)


Sample AFF with no advertisements? More..
Top