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My credit card churning journey 2024: Part 5

It's been a quick turnaround with my NAB Qantas rewards premium credit card. The process went very smoothly and I even received an annual fee refund from NAB. Yep, you heard it right! The entire process, from application to cancellation, has been just 29 days, which is one of the fastest churns I have done in some time.

NAB Qantas Rewards Premium credit card application approved

Normally when I choose a credit card to churn, I aim to take out a credit card which offers the largest signup bonus. I do this because financial institutions force me to wait 12 months or more before I can take out the same credit card again with them and be eligible to receive the signup bonus points. This makes it more efficient for me to maximise the signup bonus per card, especially if I can get an annual fee refund as well.

With NAB, I had to make my choice based on two factors. Firstly, I had just over 31 days to make 50,000 Qantas points to retain my Qantas club points club plus membership. To do this, I needed to apply for a credit card from NAB that I thought would be the easiest to get approved for, but also have enough bonus points to allow me to reach Points Club Plus.

Secondly, the credit card also had to have a smaller minimum spend, so I could guarantee I could reach it within the first couple of weeks of approval. The only option was to take out the NAB middle tier card, the Qantas rewards premier credit card. It offered a 60,000 Qantas points signup bonus with a minimum spend of $2000.

The application process went very smoothly. I was approved and received my credit card within three business days. I applied for the credit card on the 23rd of April 2024 and received my points on the 18th of May 2024.

This allowed me to reach my Points Club Plus goal which was due on the 30th of May. To allow this to happen, however, I had to call NAB and ask them to move my statement reporting date from the 7th of May to the 22nd of May, allowing me to reach my minimum spend and receive my points in time.

Qantas Activity Statement
Received 60,000 signup bonus Qantas points on the 18th May

I was able to achieve the minimum spend so soon as it was only $2000.

I received all my bonus points on my first statement period and cancelled the credit card as soon as the points appeared in my Qantas account.

The annual fee was $150, which I received a refund for when I cancelled the credit card over the phone on May 24th.

NAB did not want to refund the annual fee, but after some discussion and the matter being escalated, I received a letter from NAB notifying me that they would indeed refund the annual fee as a goodwill gesture, only one time. So I guess it's always worth asking, even though I was quite confident I would not receive the refund. The refund was then sent to my bank account 5 business days later.

NAB Email
Annual Fee Refund from NAB

Qantas Premier Platinum will be my new credit card

The next credit card that I will be applying for from the range of Qantas point earning credit cards will be the Qantas Premier Platinum Credit Card.

It offers 70,000 Qantas points for a minimum spend of $3000 in 3 months. The annual fee is $349.

I only chose this card as Qantas Money, Suncorp, Bankwest and Coles Mastercard were the only other cards I was eligible for. As Qantas offers the best signup bonus out of the cards I am eligible for, I have decided to go with this card.

My Credit score has slightly decreased

As promised in my previous instalment, I will be updating my credit score.

After my NAB credit card approval, my credit score decreased slightly from my previous score of 909 which can be found in part 4. I have noticed recently that every time I cancel a credit card my score will bounce back to 909. When I get approved it will fall to around the 862 - 864 mark.

This just goes to show that applying for many credit cards, even with the rare rejection does not always lower your credit score. Credit score using Credit Savvy.

Credit Savvy credit score
My credit score as of 5th May 2024

I plan on keeping this card for one month as always and hopefully, Part 6 will be available in July 2024.

Like always, if you have any questions, please comment below or contact me. If you don't want to miss out on any new content, then follow me on Instagram or Reddit for more information about everything to do with credit card churning and point collecting.

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