Credit Card Question (Have AmEx Looking for Visa or Mastercard as Secondary Card)

Scrltx121 on 06/07/2015 - 14:27
Last edited 06/07/2015 - 15:11 by 1 other user

Hi All,

Just starting to get into this Credit Card thing with reward points, QFF points and all that and it's kind of just flying over my head.

Situation:
I have an AmEx Plat Edge that I use on the majority of purchases. Where this isn't accepted, I've just been using my debit card.

I'm looking to get a second Credit Card for places where AmEx isn't accepted, or charge stupid rates for use.

Currently, I've been looking at the Coles Rewards Mastercard as I do a majority of my grocery shopping at Coles.
If I get the Coles Rewards Mastercard with the $89 Annual Fee, is it better points/money efficiency wise to use the Coles card at Coles, or the AmEx card due to it's high points value? Or should I just opt for the free Coles Card?

If someone has any other suggestions for a secondary card that'd be great as well. I'm fine paying for annual fees that are at most $150, so long as I can make it back with points/purchases.

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  DealzEddy123 on 06/07/2015 - 16:00

  You should use ING Direct debit card for 2% paywave cashback

  OR

  Citibank Signature with no annual fee for life.

  Personally I use Bankwest Qantas World Master card but I pay an annual fee for it.
  I chose it because it has zero international transaction fees and gives 1 qff point per $1 spend.
  Annual fee ~$160 (from memory)

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    Scrltx121 on 06/07/2015 - 16:21

    I was looking at the Citibank Signature but the Free for Life promo ended I believe :( It's gone back to $299 annual fee. I would've taken that in a heartbeat if I knew about the promo earlier.

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      DealzEddy123 on 06/07/2015 - 16:58

      relax. points aren't worth that much anyway unless you smash a lot on business expenses.

      from my previous calculations, points return rates are around 1% of annual card spend

    • 

      fkwong on 06/07/2015 - 18:11

      You may consider ME bank everyday transaction paypass 5% cash back or HSBC PLATINUM credit card $0 annual fee for life.

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  Colin2905 on 06/07/2015 - 17:48

  This might suit, if only for the first year…..

  http://virginmoney.com.au/products/credit-card/flyer-credit-…

  I'm currently into month 3 of 5, and they're giving me an extra point per dollar this month.

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  paaj on 06/07/2015 - 18:06

  Look into Bankwest Zero Platinum. No annual fee, and if you're platinum status then no forex fees and I recall correctly you also get concierge service. Although with Google, concierge is just a novelty thing now.
  Plus price protection. I think for up to $500 / year worth of purchases they will provide extra warranty / replacement protection at no charge. Read the fine print yada yada.

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  sagax on 06/07/2015 - 18:12

  +1

  have a read of https://www.ozbargain.com.au/wiki/credit_card_guide

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  raymond y on 06/07/2015 - 19:32

  The return on the Coles Rewards Mastercard is exactly 1% ($10,000 = 20,000 points = $100 Coles Gift Card). If you think you're going to spend $8,900 a year to offset the fee then go for it. I have it as a secondary card purely for the account cover plus features (price protection etc).

  Biggest step is calculating your average spend and figuring out what is worthwhile.

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    Scrltx121 on 06/07/2015 - 20:41

    Thanks, that calculation was a good eye opener on how much I'd need to spend for offset… Time to read up more.