I’m just a beginner in this space and I’m quite overwhelmed by all of the info out there. I’m hoping someone can give me some direction.
I would really like to take my wife on a holiday to Vietnam in dec next year. I am hoping to be able to do this with points but as I said I’m new to this so I don’t have any yet. We are prepared to sign up for new cards to achieve a sign up bonus.we will be flying out of Brisbane I’m just looking for advice or direction in which cards to take a closer look at. Also I’m wondering what sort of impact on my credit score multiple applications will have? Thanks in advance
You could do Brisbane-Singapore-Ho Chi Minh oneway with Singapore Airlines for
28k, 45k, 58k Krisflyer miles for Economy, Prem Econ, Business Class.
You could start collecting Velocity points or Krisflyer miles. Velocity pts can be transferred to Krisflyer 1.35 : 1.
90% of my point balance comes from credit card signup bonuses. If both you and your partner do not hold an Amex card in the last 18 mths, you could wait for the Amex Explorer sign up to get back to 100k or so and sign up. 100k Amex explorer pts converts to 75k Krisflyer pts.
Regarding the impact applications will have on your credit score: yes, each application will reduce your credit score. I have a bit of a cycle: check credit score - apply for new card – receive sign-up bonus - check credit score - (if credit score is still acceptable) apply for new card - etc.
Check your credit score now, and set yourself a target which you don’t want your score to drop below. If you ever find that your credit score is near or below that target, hold off applying for new cards until your credit score has gone up to an acceptable level again.
Remember also that with the new Comprehensive Credit Reporting (CCR) regime, your credit score will generally rise every time you cancel a card (in theory, anyway). This is potentially good news for point hackers because it means that if you cancel as many cards as you apply for, your credit score will theoretically not be affected as much as before.
To check my credit score I use getcreditscore.com.au but you could also use experian.com.au or checkyourcredit.com.au
All the best!
I think a good strategy starting out is to get an Amex card (like the Explorer, currently has 75,000 bonus points, which transfers to 8 different programs 4:3) and then a MasterCard/Visa for purchases you can’t use Amex for.
December could be a tricky time availability wise, so a program like Amex where you aren’t locked into one program is advisable.
Sign up to the different programs and practice doing “dummy bookings”. I generally find Cathay Pacific (Asia miles) or Singapore Airlines have good availability year round.