Churning revisited

So I've been getting some feedback about my previous post "The Art of Churning in Australia" and it seems that perhaps I was a little long winded...

So here is the abridged version!

Using Qantas Frequent Flyer points can be a great way to travel around the world for a very small amount of money.

For example: 48,000 frequent flyer points can get you one way from Melbourne to Los Angeles, Mexico City or Vancouver.

I searched the internet and found a bunch of credit cards that will give you Frequent Flyer points JUST for signing up!  How greats that!  You just have to take into account the sign up fee.  These are my top three:

1. The Qantas American Express Discovery Card
-this card is FREE to sign up
-you get 5,000 points when you spend $300 in the first three months
-you have to earn over $35,000 a year
link here

2. Woolworths Everyday Rewards Qantas Credit Card
-it costs $89 a year to have the card
-you get 20,000 points when you sign up before 30th of April
-you have to earn over $50,000 a year
link here

3. Westpac Earth Platinum Credit Card
-it costs $125 a year for the card
-you get 20,000 points when you do a balance transfer of $200 (0.99% for six months)
-you have to earn 30,000 after tax
link here

If you open these three credit cards, it will cost you $214. And you are only 3,000 points away from a one way trip to Los Angeles (plus tax $192.48).  I checked with all three credit card companies and there was no waiting period for customers for them to be considered a new customer.  That means that you can cancel and reapply for these cards as much as you want (basically after the points arrive in your account, you are good to go!  So you can reapply for the AMEX card and get 5,000 more points after 3 months!)

Thats a total of $406.48 for a one way trip to LA!

I did a bit of searching and found a flight on Air New Zealand for $1080.

Thats a saving of more than $600!