Hey everyone,
There is only a handful of rewards credit cards that also have no International Fee.
Just doing some quick maths here based on a $2500 Monthly Spend going through a credit card (pretty average I would imagine?)
Coles Rewards Mastercard Platinum
- $99 Yearly Fee
- 0.87 Velocity Points per $1 Spent
- No International Fee
- Purchase Protection Insurance (up to 90 days)
- Extended Warranty (Up to 1 Year)
$162 overall yearly value going off a $2500 monthly spend.
Velocity Points are valued at around $0.01. So going off a $2500 monthly spend you get $21.75 worth of value.
$21.75 worth of points per month = $261 in value over the year. Subtract the yearly fee you get $162 of value
Orange One Platinum
- $149 Yearly Fee
- 1% Cashback up to $30 per month ($3000 of expenses per month)
- No international Fee's
- Travel Insurance
- Apple Pay Support
$151 overall yearly value going off a $2500 monthly spend
$2500 monthly spend = $25 cashback each month or $300 per year. Subtract the yearly fee you get $151 in value.
While the ING Orange One Platinum is about $10 a year worse off compared to the Coles Rewards Mastercard. When you factor in that ING is instant cash back and not 'funny money' in the way of points which can change value, or have limits imposed on their usage by the airline, it makes it very comparable to the Coles rewards card, if not slightly better with the inclusion of travel insurance and Apple Pay support.
What are peoples thoughts?
Without digging too deep, if you shop at Coles, I would definitely lean towards the Coles card.
Just with the credit card itself, you earn 2 Flybuys per dollar spent. So for your $2,500 per month that is 5,000 Flybuys a month or 60,000 Flybuys per year.
From a pure monetary point of view (so ignoring the 'funny money' side of things) you can convert 2,000 Flybuys instantly at Coles for $10 off your shop. So that would be $300 instant money providing you shop at Coles at least 30 times in the year therefore giving you an actual yearly value of $201.
This doesn't include the extra Flybuys per dollar you get when you shop in Coles or any Flybuys bonuses they have throughout the year.
There are a lot of different ways to look at these comparisons and this is just one :)
Reference: I have the Coles card and seem to earn Flybuys faster than I can use them!