Credit Card Offers Virgin Money Velocity Flyer Offers & Discussion

[burmans]

Agreed, although that depends on the yearly fee of each card; some cards likely won't justify the yearly fee for many users, while others will. Good points!

Yes, agree about the yearly fee, though apart from my platinum Edge card (great supermarket and petrol earn plus $200 travel credit) and a no longer available ANZ Travel adventures card (no forex fees), I rarely keep a card longer than 1 year anyway (see my comment about signup points) for exactly ths reason that benefits dont justify the fee. So annual fees are offset by signup points, plus CC insurance, lounge benefits (sometimes) etc.

I think each CC needs to be assessed on a cost/benefit basis and for me, this definitely changes post year 1.

 

[simmomelb]

Yes, agree about the yearly fee, though apart from my platinum Edge card (great supermarket and petrol earn plus $200 travel credit) and a no longer available ANZ Travel adventures card (no forex fees), I rarely keep a card longer than 1 year anyway (see my comment about signup points) for exactly ths reason that benefits dont justify the fee. So annual fees are offset by signup points, plus CC insurance, lounge benefits (sometimes) etc.

I think each CC needs to be assessed on a cost/benefit basis and for me, this definitely changes post year 1.

Haven't you found it hard to sign up for a new CC every 12 months? Several of my family members have been rejected and told by bank branch staff that if you have signed up for a card in the last 24 months or less, you will be deemed a serial credit card churner, and they really don't want customers like this (loss maker); hence why many of them don't give you all the bonus sign-up points until 12+ months of having the card active nowadays.
You also end up with a "busy credit file" doing this every 12 months, which can be problematic for some customers. Thoughts?
I'd love to do this every 12 months, but I have been apprehensive for the reasons above.