How Many Cards Do You (Personally) Churn through Each Year?

DryingPan on 05/09/2021 - 01:28
Last edited 05/09/2021 - 14:41 by 1 other user

I'm slowly getting my head around CC churn but everyone's opinions are so scattered so I'm taking this one step at a time.

Most banks have a 12-24 waiting period before allowing for new cards but I read comments from users saying they have multiple active year-round.

I didn't think we had that many institutions to allow for that?

If you're willing to share, I'd love to see a breakdown of your ons and offs the last few years.

[EDIT] Thanks so much for the responses so far.

My lesson learnt is never OzBargain when you should be sleeping. I realised I left out some important information. As a commenter corrected guessed, I am querying with regards to signup bonuses.

FF Points are what I'm considering right now but I know the theory is the same across the board.

Financial Credit Card

Comments

  • Hybroid on 05/09/2021 - 01:39
    +1

    Might help to add why you want to churn/what you aim to get out of it. I don't use credit cards at all personally.

    • Innately Incognito on 05/09/2021 - 02:05
      +1

      At a guess OP is referring to churning through credit cards with reward point bonus sign-up offers.

      • DryingPan on 05/09/2021 - 14:29

        Bingo. I updated the post to address my lack of helpfulness…

  • Innately Incognito on 05/09/2021 - 02:04

    Usually 0.75 because I churn every ~9 months or thereabouts.

    • ihbh on 05/09/2021 - 07:38
      +7

      That makes it 1/0.75 or 1/(3/4) or 4/3 or 1.33.

      • Innately Incognito on 05/09/2021 - 13:09

        Whoops. Replying after sleep deprivation from flipping NFTs haha. You're right.

        I listed it as how many years per card 😂

    • dust on 05/09/2021 - 11:16

      0.75 would mean you're churning through 3 cards every 4 years.

      • FireRunner on 05/09/2021 - 12:59
        -1

        No, 4 cards in 3 years

  • elgrande on 05/09/2021 - 07:48
    +2

    3²

  • mapax on 05/09/2021 - 08:33
    +3

    None

  • aneil915 on 05/09/2021 - 09:52
    +1

    3 or 4

    • DryingPan on 05/09/2021 - 14:35

      Brilliant, thanks. And do you normal just have one card active at 1 time?

  • madreece on 05/09/2021 - 10:30
    +2

    3-4. Don't know where you get the 12-24 months waiting period. I think all except Amex are 12 months with Amex at 18 months. Plenty of card issuers to cover this sort of rotation, just keep track of cancellation dates and rotate through.

    • DryingPan on 05/09/2021 - 14:25

      Thanks for the response. 24 was probably an exaggeration.

  • ozbargainsam on 05/09/2021 - 10:35

    However many good points offers are on. Happened to churn through all (5?) recently and been waiting for the first 12-months wait to expire for about 5 months. Haven't been on one card for that long for a while.

    • DryingPan on 05/09/2021 - 14:34

      Thanks! If you don't mind, how many cards are you usually on simultaneously?

  • dogboy on 05/09/2021 - 12:35

    Zero

    • DryingPan on 05/09/2021 - 14:34

      Mum's advice growing up

  • maverick1 on 05/09/2021 - 13:06
    +1

    I average usually one every quarter or max 3-5 cards every year depending on the available offers

    • maverick1 on 05/09/2021 - 13:08
      +7

      Breakup is usually
      ANZ - 2 (Both FF and rewards card)
      NAB - 1 (Subject to annual fee being 195 or 295, I avoid signing up at full fee of 395, at 195 its a no brainer as it would end up costing at most $50 for 100k QFF points, assuming you meet the min spend before 1st billing cycle)
      Wpac - 1
      STG - 1
      Citi/Qantas/Amex (18m wait period) maybe 1 depending on the offer

      • DryingPan on 05/09/2021 - 14:26
        +1

        This is exactly the reply I was hoping for. Thanks Mate

      • DepTrai68 on 06/09/2021 - 21:28

        How do you usually managed to make minimum spend?

        I’m looking to churn but unsure how to meet minimum spend, likely could only do 2 a year with cards requiring $3k+

  • seeyelater on 05/09/2021 - 13:42
    +2

    4-6

  • neme on 07/09/2021 - 15:25

    I only just started doing this February 2020 (looks like I missed out on the golden days of mostly zero-fee cards) and so far I have churned 6 cards (5 QFF, 1 ANZ Rewards) and currently awaiting approval on NAB. Will likely churn another ANZ card later this year.

    So that makes 4/yr

    Edit: To keep track of everything I keep a little Google spreadsheet and track when I can reapply, when I closed cards, when I got bonus etc. I should probs update it to include fees paid to keep it honest.

    https://imgur.com/sEInLL5

    • DryingPan on 07/09/2021 - 17:12

      Thanks so much, that doc is super helpful.

    • Anonymous101 on 07/09/2021 - 17:20

      I use credit savvy to find out when I applied for a card and when I closed it.

      • DryingPan on 07/09/2021 - 21:25

        I'd never heard of credit savy, thanks for that. Are their implications to your credit score by checking it there? I realise some sites can affect it and some don't.

        • Anonymous101 on 07/09/2021 - 22:39
          +1

          No checking on credit savvy doesn’t affect your credit score. It never affected mine.

  • blueyez on 07/09/2021 - 19:32
    +1

    I'm a lazy churner - maybe 1-2 a year.

    • DryingPan on 07/09/2021 - 21:27

      I imagine I'll start out there and see how motivated I get. I'm very lazy by nature though..

      • blueyez on 08/09/2021 - 12:09

        I always have Amex churning away, but I'm new to signing up with different banks. This year has just been ANZ and maybe another after I cancel a card.

  • Homr on 06/11/2021 - 20:51

    I'm on my 3rd one and just applied for my 4th with St George for this Calender year

    1. ANZ rewards - $500 egiftcard cashback (Cancelled)
    2. Westpac $650 rebate (Cancelled)
    3. AMEX- 110K Bonus Qantas points
    4. St George Amplify - 130k points which is worth $550 gift cards.

    My credit savvy score is 811 which is borderline "Excellent". Does anyone know how many more credit cards I can apply for before my credit file takes and start rejecting me?

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