Changing Credit Cards

For a long time we have been using the CBA Diamond Rewards Mastercard & AMEX. The Mastercard is due to renew membership next week and the AMEX is being discontinued. These have been our base cards. IE we have regular payments setup on them.

Recently, we have started using other cards eg ANZ Black and now Westpac Black to collect the QFF rewards bonuses. So my questions are:

1) With the base CC up for renewal and the annual fee. What does everyone do? Do you have one base card for regular payments and the in between times when jumping over to other cards? If so what recommendations do you have for a base card that could earn QFF rewards with less annual fees?

2) Or just never stay with one card for more than a year collect the reward bonus and move to the next?

3) Or is there a better Ozbargain way of doing this?

Would appreciate any opinions/info


  • I got a letter for this as well.

    We just paid for the annual fee and I'm not liking how the AMEX is going. We regularly use AMEX.

    I'll most likely swap to a different vendor but not sure to whom.

    Any suggestions?

  • I cancelled my Commbank credit card a long time ago - they were very uncompetitive - low earn rate on Qantas miles, high annual fee etc. Loyalty to a bank means nothing these days - I change my cards regularly to get the best deals. I change cards at least every six months to take advantage of sign on bonuses.

    • The problem with switching credit cards every year though is that it takes a hit on your credit (important if you're looking to apply for a loan in the near future).

      • I watch my credit score actively - it has actually improved over the last few years even though I have been through around 5 credit cards and applied for a home loan. Watch you score - if it drops, take a break. Changing cards once a year should have no impact on your credit score.

        • What service are you using to check your credit score?

          • +1

            @dust: Credit Savvy (Experian) and Get Credit Score (Equifax). Both free.

  • Seems applying and closing cards is pretty simple until hit the 12/18 month exclusion periods and run out of cards to apply for.

    I see the main inconvenience being changing regular payments as they often require a phone call to multiple companies.

    Having a payment list with contacts may make that a bit easier? Would be good to hear what the professionals do

  • We had the same issue and signed up for this American Express Velocity Platinum Card. Lots of benefits and if you apply online by 14 November 2018 and spend $3,000 on your new Card within the first 3 months, you receive 75,000 bonus Velocity Points, Mod: [Removed Solicitation for referrals: Please use internal referral system]
    This offer is available to new Card Members, as well as Bank- issued American Express companion cardholders
    A complimentary Virgin Australia return domestic flight each anniversary year after your first Card spend in that anniversary year (covers the $375 fee)
    Earn 1.5 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent. No cap.
    Earn 1 additional Velocity Point per $1 spent with Virgin Australia
    0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies
    2 complimentary single entry passes to the domestic Virgin Australia lounge each anniversary year at selected airports
    Enjoy two complimentary entries per year to the American Express Lounge, located at Sydney International Airport or Melbourne International Airport
    Complimentary Domestic and International Travel Insurance
    Receive 100 Velocity Frequent Flyer Status Credits,when you spend a minimum of $50,000 within your card membership year
    Additional Cards with no annual Card fee Start earning more Velocity Points with up to 4 Additional Card Members for no extra fee
    Purchase Protection
    Purchase protection covers eligible items you have purchased with your American Express Velocity Platinum Card. If they're stolen, lost or damaged within 90 days of the purchase date, they'll either be repaired or refunded
    Refund Protection
    If you try to return an unused eligible item that you purchased with your American Express Velocity Platinum Card within 90 days of the date of purchase on your Card and the establishment refuses to take it back, we'll refund the purchase price
    Online fraud protection guarantee
    Shop online with confidence, because with our Online Fraud Protection Guarantee, you won't be held responsible for any unauthorised charges made without your knowledge while shopping on the internet

    • Thanks Sydneygirl for the thorough reply. What do you do for places that dont accept Amex? They seem to be becoming more and more common.

      • I have a fee free Westpac visa

  • The strategy the we use, is the lowest income earner stays with Amex - Platinum Edge for Supermarket/Petrol, Explorer for everything else where possible. Partner comes in to Amex when big bonuses are offered , hit minimum spend and cancel back out to wait 18 months in the penalty box before coming back into the game while keeping supp cards from the partner to use. Share credit card applications, get sign up bonuses through out the year so we always have a Visa/Mastercard to use for places that don't take Amex. Credit ratings have stayed approx the same for the last 18 mths, they go down and then recover with approx 10 credit card application between us in that time. Keeps us in the pointy end of the plane for at least one overseas trip each year.

  • Is your aim to earn just QFF points?

    Amex Qantas Discovery card is $1 = 1 QFF point with no annual fee. You could use Amex as your primary card and your ANZ Black or Westpac as secondary.

    Having a few reward cards is pricey! It seems Amex is the best value in terms of per dollar to QFF point conversion with no annual fee.

    • Seems from Madreece's and your reply that the Amex cards would be best for earning points and then find a no fee Mastercard or Visa for anything else.

      I would prefer QFF as thats what I have always done, but this year we have branched into Velocity as well. So no biggy.

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