Should I be applying for more credit cards?

I never had a credit card except for this year when I started reading forums like this that my mind starts opening up to the idea. Since last month (January 2018) I started opening up these cards in this order:

  1. Coles No Annual Fee Card
  2. Woolworths Money Everyday Platinum
  3. AMEX Velocity Platinum
  4. ANZ Rewards Black
  5. Virgin Money High Flyer Card

I probably will be closing Coles and Woolies once I get the $100 voucher from them. I’ve spent the minimum spent on AMEX Velocity and ANZ Rewards, so I’m just waiting to get the bonus points of 100k velocity from AMEX and 75k rewards points from ANZ. I only got approved for my Virgin Money High Flyer, so I’m just waiting for the card to arrive for me to start spending to get the 120k velocity sign-up bonus points.

My primary purpose for churning these cards is to take my wife and 2-year-old daughter on a lovely holiday sometime next year.

I know churning will have a significant ding on my credit but I’m not looking to buy any property soon, so this is not a big deal for me.

My central question is, am I done for this year accumulating all these credit cards? How many open credit card is the maximum per year? Is there some rule of thumb regarding the number of credit card applications in a year?

Also, what card should I plan to get next? NAB? St. George? Westpac?

Thank in advance!

P.S. I don’t have any balance on any of those cards, so I think I use them responsibly and pay them off on time. The only downside for me temporarily is that I’m not able to invest in shares which I usually do every month and that’s stopping at the moment because of the minimum spent on these cards.

Qantas Premier - 75k qantas

St George - 90k qantas

Westpac - 80k qantas

NAB - 100k qantas

In that order. The NAB one isn’t so tastey due to its large annual fee of 450$(i think).

The Qantas Premier card is a prick to get, the verification and approval is ridiculous for a minimum 6k limit card (unlike the minimum 15k top tier cards from westpac/anz/nab/virgin/st george) but its 1st year annual fee is low 150$(i think)

Slim pickings for velocity points other than virgin money & amex

In my case, I churn as many cards as I can satisfy the spend criteria. Keeps my options open should qantas be unavailable, but virgin does.

But if you cant satisfy a spend criteria of multiple cards, then as Bevan says, stick to one program

There is no rule on maximum number of cards but it depends on a number of things including your income, your current expenses and any other credit you have. If you’re earning a million dollars a year I’d say it would be no problem.

Also if you apply for a lot of cards in a short period of time , you may give the impression that you’re chasing credit.