Credit Card - To Churn or HODL?

xdivino on 15/08/2026 - 15:21
Last edited 15/08/2026 - 21:07 by 1 other user

Currently only hold CBA Diamond Card which is/was my Keep card for all the direct debits and subs etc.

Looking to rescope and seek out points whore mode again but the churning days don't seem to be as golden as they used to be.

Using the https://www.rwrds.com.au/credit-card-eligibility-rules/check… looks like I can do all except Westpac currently.

I'm open to either Qantas or Velocity but wondering if there's better value to be had in the non FF Points and having the flexibility to transfer for Gift Card or cashback etc considering the OCT changes.

Essentially;
Do you still have a "keep" card and churn/burn big spends on the sign up offers still?
and do you feel that the annual fee's = reward worthyness.

(Yet to confirm if I can re-sign up with Mycard for their offer as they're extremely vague on the resign up as I got palmed off to them with Citibank changing hands - I closed that in JAN26 if anyone knows).

Financial Credit Card

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  • xdivino on 20/08/2026 - 14:45

    CBA Cards got the update and nerfed big time now - so yee ha for CBA too.

    I ended up signed up to MyCard for 100k Velocity points for $300 and will dump over to this card for the meantime.

    • 1
    • starburstyellow on 26/08/2026 - 12:04

      How was your MyCard experience? I will do a mycard run in about 3 months time. Just signed up successfully to the Velocity High Flyer with no issues.

      • 0
      • xdivino on 26/08/2026 - 14:19

        Signed up easy
        Almost done the spend but there’s been nothing from them around setting up the velocity stuff so will report back if I get the points etc.

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  • Mugsy on 04/09/2026 - 15:28

    Do you still have a "keep" card and churn/burn big spends on the sign up offers still?

    Yes, i would Kent.

    I had to cancel my old Citi Platinum/Rewards with lifetime no annual fee when wife and I built our house.

    These days, I use the Bendigo Ready credit card as my keep card. TBH, I find it better than the old Citi Platinum. No international transaction fees and 3 months consecutive travel insurance is worth more to me (especially now that I have dad as an additional card holder so he can get the travel insurance too).

    Currently churning through the Amex Velocity Platinum card… will be holding onto this one into year 2 as I plan on doing another domestic holiday, and it's only a $1 spend to get another 30k velocity points in year 2. I don't have any big spends planned anyway so no point churning to another card. By then, I ought to have a better of what churning will be like following the 1 Oct changes.

    • 1
    • sghetti on 30/09/2026 - 11:43

      Yep, the Bendigo card is my keeper card too. I use this for anything I know is an international purchase. Or gov spend like council rates, water bills and car rego that won't earn rewards points. I have a few cashback and QFF cards on the go around this card too. Makes it easier to switch payment methods back and forward with a keeper card if I was between rewards cards too.

      • 0
  • Wiadro on 15/08/2026 - 15:30

    CBA Diamond Rewards is now Ultimate Rewards

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    • xdivino on 15/08/2026 - 15:32

      I'm still Diamond rewards - its an upgrade over to Ultimate rewards.. it's a better Annual fee if I do the spend but not getting any points or bonus offers for loyalty so figured ditch it and get something at least instead of just sticking it out.

      • 0
      • sumyungguy on 17/08/2026 - 16:07

        Diamond Awards has a lower earn rate than Ultimate Awards; or is there some other CBA programme I don't have access to?

        • 0
        • xdivino on 18/08/2026 - 00:02

          They’re grandfathered cards so platinum and diamond replaced from being included with some home loan packages etc but you had to pay to cross to ultimate before..

          I’ve just carried it over as was easy but now feels like the annual fee isn’t worth it and the ultimate card won’t net me any bonus so prob pivot for something vs nothing

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  • sumyungguy on 15/08/2026 - 22:29

    Not every card issuer has disclosed their 1-Oct changes so best to churn now; Amex excepted.

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    • xdivino on 18/08/2026 - 00:04

      Only Nab I saw announced some stuff but figured others wouldn’t be far behind considering October fee changes etc.

      • 0
  • eccaz on 17/08/2026 - 15:47

    Your use of the term “hodl” reveals your status as a beginner.

    • -4
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