St George Amplify Signature Card 60,000 Qantas/Amplify points - Annual fee $279

[burmans]

Pretty simple (and good practice), in that the longer they take to post the points then the more likely you are to spend more on the card, plus they'd probably factor in some people also having a balance and so getting that very profitable credit card interest.

Just baffles me why they drag it out.

I'm a bit surprised that you are surprised. Banks don't give big bonus in the hope you churn, they actually want you to use the card. Short turnaround rewards churning so no surprise to me the banks have increased the waiting period.

 

[deebens]

I'm a bit surprised that you are surprised. Banks don't give big bonus in the hope you churn, they actually want you to use the card. Short turnaround rewards churning so no surprise to me the banks have increased the waiting period.

Yeah fair point, I've just never had one that hasn't instaposted the bonus in the same statement where the threshold was reached. Just thinking who I've been through, all more than once, Westpac, Virgin Money, ANZ, NAB, HSBC, AMEX. I guess not the most definitive list. lol

 

[Dr Ralph]

Yeah fair point, I've just never had one that hasn't instaposted the bonus in the same statement where the threshold was reached. Just thinking who I've been through, all more than once, Westpac, Virgin Money, ANZ, NAB, HSBC, AMEX. I guess not the most definitive list. lol

Both Westpac and HSBC have made me wait more than the advertised period. Seems you may have been lucky in the past, rather than a change now occurring.

 

[daft009]

imho this is a card worth hanging onto.
not a churn & burn

 

[Dr Ralph]

imho this is a card worth hanging onto.
not a churn & burn

I've never met a card worth hanging onto. Bonus point offerings with other cards are just too attractive.

If this card is so good I'll see it again in 12 months when the exclusion period ends, take advantage of its good points, cancel and move on again.

Unless you're putting hundreds of thousands of dollars through a card each year there's never a benefit in not churning.

Churn and burn has been an incredibly successful strategy for me.

 

[daft009]

this card pays points at full earn for certain transactions which not many others do, hence worth hanging on it for me personally.

I'll easily put 20k/month on this card
with amex I average around 100k/month

 

[cove]

So far this one is a keeper. Mrscove needs to apply for one too.

 

[GSP]

I've never met a card worth hanging onto. Bonus point offerings with other cards are just too attractive.

If this card is so good I'll see it again in 12 months when the exclusion period ends, take advantage of its good points, cancel and move on again.

Unless you're putting hundreds of thousands of dollars through a card each year there's never a benefit in not churning.

Churn and burn has been an incredibly successful strategy for me.

I largely agree and have had success also, however not all cards are still available on same terms and conditions 12 months later. Most have regressed in bonus points and increased significantly in annual fee from their equivalents from 12 to 18 months ago. ANZ seems like about the only card that still offers good bonus points with no 1st year annual fee in comparison to a year ago (although they did have the 75 SC come and go in the meantime).

 

[cove]

I didn't churn the Amex Kris Flyer from Westpac.

 

[Dr Ralph]

Note the current offer is now 90K points for $139.

See this new thread:

St George Amplify card - $139 for 90k points (discounted fee via specific link)

 

[burmans]

I didn't churn the Amex Kris Flyer from Westpac.

Nor me but will be forced to shortly, sorry to see her go.

 

[lovetravellingoz]

I

Unless you're putting hundreds of thousands of dollars through a card each year there's never a benefit in not churning.

.

While I am big believer in churning CCs, and do so frequently. I cannot agree on the above.

Just some benefits can include:

• TI on some cards is good for many
• A number of cards have cashback deals, or discounts, that many partake of. From your past posts I thought that you had held onto at least some cards for longer than the minimum period needed to qualify fora joining bonus to use this feature.
• Lounge passes/ Lounge entry
• Points gained from referrals
• 0% interest cash transfers
• Hotel status
• Concierge services
• and there are others

 

[cove]

Yes LTO some cards have been keepers for us and I haven’t regretted it.
My personal favourites include Bankwest World, Amplify, Amex Platinum Edge, Amex Ultimate and soon to be gone Westpac Kris Flyer Amex.
I do quite a bit on credit cards.

 

[lovetravellingoz]

Plus for those that like their KF points (and I do and value them significantly above say QFF points. This increases the weighting that I place on cards that deliver KF points and moreso at good rates.) the break even point is not hundreds of $K each year.


So lets us look at some scenarios:

Churn Amex.
Wait 18 months and maybe get 100K MR. So every 3 years that is 200K. (If a couple where you can get referrals, maybe 240K). Add a few K more if you do dump the card straight after min spend. You might also wait 18 months and only get half that. But lets go with the max for this comparison.

Whereas keep the Amexes (Exploer/Edge Combo)

• If you put say $100K through an Edge/Explorer Combo that is say 250K per year. So every 3 years that is 750K
• If you put say $50K through an Edge/Explorer Combo that is say 125K per year. So every 3 years that is 375K

Now yes if you do not have the Amex you can still earn some points on other cards. But for KF that is currently less than 1 point per $.

So if you earn at 1 (and currently that is less, or the to me less valuable QFF points).

• If you put say $100K through an Edge/Explorer Combo that is say 100K per year. So every 3 years that is 300K PLUS the 240k = 540K =210K less
• If you put say $50K through an Edge/Explorer Combo that is say 50K per year. So every 3 years that is 150K PLUS the 240K = 390 K = about the same

Plus churning the Amex/Explorer combo would cost me $thousands in lost cashback deals, and maybe some point promos too.

So keeping these cards works for me and for those that value KF points I believe would work for many. However while I am keeping mine yes we are churning the wife's like we have done fora decade now.

Optimum strategy for my needs is to keep some cards, but to churn most, and along the way to also garner various benefits including $ as well as points.

 

[flapper]

Can someone advise how long it takes for the bonus points to arrive?
I know they say 12 weeks but with most other banks they arrive far sooner than that.

 

[Dr Ralph]

Can someone advise how long it takes for the bonus points to arrive?
I know they say 12 weeks but with most other banks they arrive far sooner than that.

St George have a history of pushing it to the stated limit.

 

[Scr77]

St George have a history of pushing it to the stated limit.

I Agree. I’ve Been waiting since early January. Not worried at all.

 

[get me outta here]

I’m also still waiting. Have calculated the full 90 days end date. If no receipt then, will be preparing a, ‘Dr Ralph’ letter.

 

[deebens]

My next statement will come in the 12th week. Be interesting if I get them then.

 

[flapper]

Just reporting back that my bonus points arrived a few days after I paid my 1st statement.