Credit Card choices

illz on 06/11/2013 - 15:22

Hi Guys,

In the market for a new CC. Previously had just a simple $24/annual Commonwealth Visa with no points or anything.

Have been looking through some threads and it seems 28 Degrees may not be worth it anymore? 5% cashback seems to be gone and now they only have 2%/2k deposit. Is that right?

I pay my CC immediately after I purchase something so an extended interest fee period or low rate doesn't bother me at all.

I shop at Coles/Woolies

Besides that I do most of my shopping Online/Ozb.

Appreciate any help

Cheers

Financial

Comments

  • PissLUR on 06/11/2013 - 15:25
    +2

    The 5% cashback is for Ing Orange Account.

    I would suggest 28 Degrees.

    • no overseas transaction fee.
    • opt for the price protection. Dont have to pay any fee as you will pay your CC immediately.
    • free, no annual fee ever.
    • illz on 06/11/2013 - 15:32

      Ah sorry must have mixed them up.

      Not worth getting an ING card anymore?

      • tanoshiiki on 06/11/2013 - 15:39
        +1

        An ING card is not a credit card. It's a debit card; you use your own money.

      • postman on 06/11/2013 - 15:42
        +1

        5% cash back is still valid for the first 6 months, but only useful if you use Paypass for transaction under 100$ in store.

        An Amex platinum edge card with 28 degrees card combo is useful.

        Bankwest zero master card can replace 28 degrees card if you are eligible for platinum.

      • PissLUR on 06/11/2013 - 20:54

        Its the best savings account imo.

        5% cashback for 6 months and 2% cashback after that.

  • illz on 06/11/2013 - 15:45

    I just signed up and was approved for the 28 degrees card. The Shoppers Protection Insurance seems awesome. Should have done this long before.

    They add 0.5% if you choose the Shoppers protection insurance. So if you pay your CC immediately you don't pay for the extra?
    Did you guys all add that option?

    Price Protection means never having to miss out on the sales again. If you buy something with your 28 Degrees MasterCard and you see its dropped in price at the same retailer anytime in the first 6 months after you bought it, we’ll pay the difference in price back onto your card. So the more you claim the more you can save.
Merchandise Protection covers the things you buy on your card if it is lost, stolen or damaged within 6 months from the date of purchase, we'll pay for the cost of repair or replacement to your account.
Stolen Card Protection: If your 28 Degrees MasterCard is stolen, we'll pay $200 to your account - just for the inconvenience.
Balance Protection: If you lose your job, or can't work due to sickness or injury, we'll pay the balance of your account, up to $5000. If you should die, we'll pay the balance in full – up to $20,000.
    • postman on 06/11/2013 - 15:57
      +3

      Don't need to pay immediately. Just pay all before STATEMENT ISSUE DATE, the insurance fee will be 0 since it's only calculated based on statement balance.

      The price protection is very handy!

      http://www.ozbargain.com.au/node/61991

      • illz on 06/11/2013 - 16:02

        Have you used it?

        Wondering if it's an easy service?

        Love the idea of, If I buy something and it goes down in price within 6 months they pay the difference.
        Along with replacing broken items you have purchased withing 6 months.

        Sounds unbelievable to me.

        Cheers for the link!

        • postman on 06/11/2013 - 16:07
          +1

          Yes, I made 2 claims for a phone bought from Kogan.
          A friend has also claimed on some clothes discount too.

        • Daabido on 06/11/2013 - 17:02
          +1

          Perfect for Android phones

  • tanoshiiki on 06/11/2013 - 15:53
    +1

    Yes, if you pay your CC immediately you don't pay for any extra, so it's a good deal.

    I tend to pay by due date, so I didn't opt for it.

  • evol on 06/11/2013 - 16:11
    +1

    Since you pay off your balance in full each month (as anyone with a credit card should be), I'd recommend the Amex Platinum Edge card - easily the best rewards card at the moment value wise.

    You get 3 points/$ at supermarkerts (Coles/Woolies), 2/$1 at petrol stations, 1/$ everywhere else (0.5/$ at Government & Telco). There is an annual fee of $195, but this includes a free return domestic flight on Virgin every year (easily pays for the annual fee itself - you can even redeem it in other peoples names and sell the flight to make a profit). You also get the usual platinum insurance covers.

    I have a 15k signup bonus points referral link if you're interested, the normal online signup bonus is only 10k points (PM me/comment below if interested anyone!). The points are very good value when used for flight redemptions/upgrades. Can also be redeemed for gift cards, at a lower point value.

    Also see this thread for more discussions.

  • Daabido on 06/11/2013 - 17:08

    Coles No fee Mastercard Platinum has price protection for 24 months, but you have to be approved for a $6k limit.

  • goosegog on 07/11/2013 - 17:20

    Guys ,help me out here. Never heard of this 28 degrees card ( but would look into it further). Have thought about the Coles one but have read some bad reviews on it. At the moment we have an Ignite C.C. -no annual fees ( previously Virgin-until taken over by Westpac). No benefits though. As a lot of you astute people do, we use it & pay it off every month. Not sure where to go from here to utilize any benefits available from other companies without being bombarded with unwanted offers. Any suggestions?

  • donbot on 07/11/2013 - 17:40

    why pay it off as soon as you've bought it? this is ozbargain… ya gotta squeeze every penny!

    Utilise the interest free period to your advantage - everytime you buy something, instead of transferring onto the credit card, transfer it into a high interest savings account and let it sit there for upto 55 days. Obviously doesnt work if you rely on price protection (I dont) - but something to think about.

    Thats exactly what I do - interest earned by not paying the bank until its due: $57.69 from 1 July this year… thats enough for many cheap beers, or a slab of premium beers. All for not paying the bank until its due.

  • rewardscompared on 08/11/2013 - 10:29

    If you pay the total balance every month (to avoid paying any interest), and put as many purchases as you can through your card (except those that charge a surcharge), you can end up in front.

    Check out the calculator on our site Rewards Credit Cards Compared

    Just plug in your expected spend (per month or per year) and check your expected return (far right hand column).

    As an example, spending $3k on your card each month will get you back $300+ on the better cards. Just check the notes however - the Jetstar card looks good but you have to fly within 3 months of qualifying for rewards.

Login or Join to leave a comment
Login Join