Is it worth card hopping for FF bonus sign on points?

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  lovetravellinginbiz on 04/08/2017 - 08:53

  Wait for points, cancel, get a nab/Amex/westpac card.

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  dasher86 on 04/08/2017 - 09:09

  +2

  It is possible to churn through credit cards that bonus points will almost always apply.
  There enough service providers that 12 - 24 clauses can be played out.
  It can however hurt your credit rating the more inquiries there are on your file.

  • 

    R-Man on 04/08/2017 - 09:54

    Yep and further to this, here's an annoying thing that I am currently dealing with, might happen to people like me who rack up bonus points:

    Applied for ANZ Frequent Flyer Platinum in early Feb, approved immediately, have been using it all year.

    Checked my Credit Savvy (Experian) credit report and it shows the ANZ inquiry in feb THREE times instead of one. Makes it look like I applied and got rejected 2-3 times and could negatively affect future applications (meanwhile, my dun & bradstreet report shows only one ANZ inquiry).

    After a lengthy investigation with ANZ, they have confirmed they did NOT make three inquiries. ANZ have requested Experian remove the other 2 inquiries from my file and im just waiting for this to happen.

    I don't know if this is a common thing with Experian or not but I'm pretty annoyed that they some how duplicated inquiries. Be warned that you might have this hassle to deal with when you apply for future credit cards.

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  capslock on 04/08/2017 - 11:35

  You can card hop but each application will appear on your credit file and if there's too many too quickly then future lenders may get suspicious and wonder what's going on. It's possible you may get declined for a future loan at a time when you really need it. Up to you if you are comfortable with that risk. The terms and conditions of each bonus point offer will usually say if you are excluded if you have received bonus points in the past.

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  [Deactivated] on 04/08/2017 - 12:41

  +1

  Is it worth card hopping for FF bonus sign on points?

  Yup - definitely worth it. I managed to rack up 1million+ points in a few months, by getting cards in my name + wife.

  Can easily sell the points for 1c/point, which is like $10k …

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  sydsm on 04/08/2017 - 13:25

  +1

  Yes it worth applying for the CC to receive bonus points and even pay for the $100-199 annual fee. you can cancel after 4 months once you receive the bonus points but you must spend the minimum amount - so its great if you have regular expenses like strata, renovations etc.

  yes you can / will damage your credit score which you will need to take into consideration but if you have a good mortgage broker, they will talk to the banks and tell them you were points surfing.

  Now - DO NOT use these points to buy products from the qantas mall or to buy economy seats - to get the best value, buy first or biz class classic seats and pay the taxes. if you use emirates or american airlines, you get a better product/service offerin (not on AA, but much lower taxes to the USA then qantas).

  You cant apply for the CC within 12 months of cancellation - the banks know what they are doing so work with it and keep applying every 16 months or so.