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Should I try credit card churning

Updated: Jan 2

Credit card churning is very easy to do and very rewarding. Almost anyone can try credit card churning.


Many people however are hesitant to start, due to different fears, such as their credit score being affected negatively or the whole idea sounding a bit too good to be true.


Many people are worried there is a catch somewhere. One of the main reasons many people don't start is because they believe the whole process is time consuming and difficult.


However, getting started credit card churning in Australia is very easy and straightforward and can be done in a few easy steps. The whole process should not take more than 1 hour of your time.

Lady thinking about credit card churning about to make a credit card application
Credit card churning is easy to start and can be very rewarding

Is your personality right for credit card churning


Credit card churning can be risky if not done correctly. Before you decide to try credit card churning ask yourself the following questions.


Are you impulsive? Are you disorganised? Do you have a history of being bad at managing your money? If the answer to all these questions is no, then credit card churning would be perfect for you to try.


The reason these personality traits are important is that you need to be organised with which credit cards you hold, and how you spend your money to reach your minimum spend criteria.


The disorganised and impulsive pursuit of rewards may cost you more in the long run than the rewards are worth.


Credit card companies will entice you with what looks like great rewards with special bonus signups to encourage you to overspend and apply for too many cards too quickly to try and trap you, so you don't pay off your credit card in time and face interest rates.


This is how the credit card companies make money. So if you can stay organised and focused you will be able to avoid this trap and reap the rewards!



Create goals when credit card churning


When wondering if credit card churning is right for you, try to set yourself goals with what you want to achieve and see if credit card churning can get you there faster.


For example, it might be a holiday overseas flying business class, or a family getaway interstate. It might be a passive income stream or just to earn some extra money on the side.


If you are able to set yourself some goals and stick with them, it will make your journey much more rewarding and structured.


Goals can help you remain responsible and help you stick with the plan that you set out for yourself.


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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