Does anyone have any churn and burn strategies for Velocity point earning cards?

Credit Cards & Credit Card Programs
1

Appreciate everyone’s circumstances will be different, but will be interesting to hear how you points gurus out there work the churn and burn strategy for Velocity points, especially if you have a cyclical process that’s relatively consistent.

So my wife has a Velocity Platinum Amex and a Bank of Melbourne Amplify Signature (from our mortgage package). She doesn’t work full time anymore so I don’t think she can apply the churn and burn going forward. As a result I’m thinking of keeping her on these cards for the next couple of years until she goes back to regular work.

That leaves me to run the churn and burn gauntlet. I’m also on a Velocity Platinum Amex but also have an ANZ Travel Adventures Rewards card. Both had nice promo sign up bonuses at the time (100k and 80k respectively.) I’ve earned those bonuses within the first month or so and booked both free domestic flights that come with both cards for travel later in the year.

So what do I do now? Should I churn both straight away, start the clock on reapplying for these 2 cards in the next 12-18 months and look at sign-up bonuses on other cards to cover me in the interim?

2

Does your wife work casually or part-time? A few mid range credit cards will have an income requirement of $35,000.00 or more which is helpful to people who are not working fulltime.

In your circumstance, I would be tempted to cancel one of the cards, to set the clock ticking until you can reapply for it again. The added bonus of only having 1 card is that you are more likely to be approved for an additional one (even if it takes a few months until a good offer takes your fancy).

1 Like
3

My strategy is to burn as soon as practicable. Sometimes I have to hold on to the cards a bit longer such as priority passes … I normally churn to new card within 2 weeks. My three programs are Velocity, Qantas and KrisFlyer.

1 Like
4

@z28

You seriously get a new credit card every two weeks??

6

Sorry - should have been clearer: i meant within 2 weeks of cancelling one credit card, so the cancelled card can go through the system.

7

Ah, that makes a lot more sense. Thanks for the clarification and sorry for the misunderstanding. Yes, I agree with you: there doesn’t need to be much of a gap at all between cancelling one card and applying for another.