Please Reccomend Me New Credit Cards for Rewards

Lrich909 on 19/05/2016 - 21:10

After reading a few good posts about CreditCards on OzB I thought this would be the perfect place to get some advice!

I'm going to start putting about put about $45k per year through credit cards & I would like to milk the banks for as much rewards as possible.

Thinking an Amex & Visa/Mastercard combo as Amex isn't taken everywhere. I'm not sure but guessing a split of about $25-30k on Amex $15-20k on Visa/Mastercard.

I'm struggling making sense of whats the best value for me, weighing up different points programs, annual fees, etc.
I don't really travel and would get more use out of other rewards.
Other benefits like price protection insurance and warranties sound good but I doubt I would end up getting much value.

Interest rates and balance transfers are not relevant.

In short which 2 or 3 cards are best for me? Thanks

Financial

Comments

  • robbyjones on 19/05/2016 - 21:31

    We just switched from CBA Diamond to ANZ Frequent Flyer black mainly because we got fee free for a year and 75K points if we spend a few thousand (I cant remember how much but less than $5K). We spend a little more than your spend.

    • kipps on 22/05/2016 - 14:43

      $45k per annum is low spend to off-set the large annual fees payable for ANZ Black cards. IMO it would really only pay to have this card for this level of spend if annual fee is waived for first year, then cancel it before the second year.

      • robbyjones on 22/05/2016 - 15:13
        +1

        Thanks, I did get fee free and my spend is more than $45K, as I said above. The fee free and 75000 points is why I suggested this card, whether it is worth keeping after the first year would be up to the individual.

  • kiribatian on 19/05/2016 - 22:46
    +2

    You need a multi-pronged attack with rewards credit cards as AMEX isn't accepted everywhere. Check out this site: https://www.qantaspoints.com/earn-points/cards-banking/card-…

    AMEX cards give you the most points. NAB Qantas Rewards, Commbank Diamond, Westpac Black and ANZ Frequent Flyer Black give 1.5 points/dollar. You get an AMEX and Visa with these accounts- keep the Visa in a drawer.

    Visa Cards: I have the HSBC Platinum Visa (1 point/dollar). Jetstar Platinum & Woolworths cards are also good.

    I also take advantage of the concierge service with premium cards. This does not cost a cent.
    I have used it heaps of time with great success. I got a table at a booked out Michelin star restaurant in San Sebastian for the very next day. They got me some quotes to hire a yacht in Thailand. They gave me 3 potential options to buy champagne and flowers in Amsterdam late on a Sunday night for friends who had recently got engaged. I have used it to help a mate find origami flowers to give to his wife on their one year wedding anniversary (some tradition about paper!!).

    Make sure you take advantage whenever there is an offer for no annual fee for 1st year or bonus points.
    I value 15,000 QFF points at $100 so do the math to see if it is worthwhile. If you get Qantas Club passes, these can be sold at $50 each as well.
    Also get the AMEX Platinum Edge. You can redeem a free domestic flight every year (limited destinations). I find that they have pretty good availability when required. I have also been able to sell it for ~$400.
    Just remember to set a reminder at the 11th month mark to contact the bank. Generally when you say you want to cancel, you are put through to a Customer Retention Team. They may offer you no annual fee for a further year or bonus points. I don't think it is worth paying $200 for a rewards credit card so I would cancel if they don't.

    I'm might be pushing it (or lucky) but I have never had a credit card application denied (at my peak, I had 8 separate cards).

    Saying all of this, my primary card I use is a debit card. Currently I am getting 5% off with paywave with the HSBC Debit. After that offer runs out, I'll go back to the ING Direct card with 2% cashback. Combined with being able to use any ATM for free, it is a winner.

  • Holysmoke on 20/05/2016 - 19:24

    Start here: https://www.ozbargain.com.au/wiki/credit_card_guide
    Then apply from here: https://www.ozbargain.com.au/wiki/american_express_referrals

    My personal favourite is the AMEX Platinum Edge - great benefits as shown in the first link.

    • Gaz1 on 20/05/2016 - 20:49

      Does anyone else get this message when they try to create the referal link?

      "We're sorry, but the Account you entered is not eligible for this referral program."

      I got the card through the Priceline promotion, so maybe this doesn't qualify?

      Maybe I'm doing it wrong?

      • Holysmoke on 21/05/2016 - 07:46

        Best to call Amex and find out if eligible or not.

        • Gaz1 on 26/05/2016 - 15:57

          They said that I wasn't eligble to the referral scheme as I got the card via Priceline!
          Anyone else had this issue?

        • Smigit on 07/06/2016 - 22:45

          @Gaz1: just noticed this now. I might call and see if anything can be done…whether they can generate me a link or not. Not the end of the world but I would like one to sign up my fiancé.

        • Smigit on 02/07/2016 - 10:08
          +1

          @Gaz1: Looks like you can now generate referral links if you have a Priceline card

    • jaygee on 23/05/2016 - 02:25

      What does going through the referrals page give you - extra points to you (and the referrer)?

  • rich909 on 21/05/2016 - 19:41

    Going to go with,

    1 - Amex Platinum Edge - I can at least sell the flight to cover the annual fee, easy choice
    2 - ING Visa Debit - 2% back on paywave, no fees
    3 - Coles Rewards Mastercard - has price protection, some rewards & no foreign currency conversion fee

    Thanks, & please let me know if you think there's a better way…

  • rich909 on 21/05/2016 - 21:01

    what would be better value between: 2 Amex points for petrol vs 2% cashback?

    • Holysmoke on 21/05/2016 - 21:16

      Depends on how you value the points. If you use the points for a gift card redemption then the 2 points per dollar on petrol equate to about 1.5% return. However, if you are going to covert the Amex points to frequent flyer points then they could be worth much more depending on the flight redemptions.

    • kipps on 22/05/2016 - 14:45

      I would take 2% cash-back. Amex points are unlikely to achieve 2% return, particularly once you add in that the ING rebate is immediately received.

    • Gaz1 on 22/05/2016 - 15:02

      The ING 2% is only on purchases using paywave that are under $100 whereas the Amex points are on all purchases.
      I guess if you plan to use the card ONLY for petrol then this is irrelevant.

      • rich909 on 24/05/2016 - 11:52

        2 amex points is for petrol only with Platinum Edge.

        • Smigit on 10/06/2016 - 13:38

          3 points for groceries but if you use the card for that, which is where a lot of my points come from.

          Amex also has a lot of great promos where you'll get cash back on local retailers. Nifty card to have.

  • rich909 on 24/05/2016 - 12:01

    Based on $100 gift voucher only.

    3 Amex points = 2.2%
    Use to buy eWish for extra 5% on fuel, supermarket, etc. Also Amex credits.

    Coles Rewards = 2% (after first $4500 spend which pays for annual fee)
    Use on everything else. No currency conversion fees & price protection insurance. Free delivery from Coles online.

    Keep you cash in ING saver & earn 3%.

    • murkywater on 21/07/2016 - 21:22

      I think you messed up the coles reward calculation. 10/2000 * 100 * 2 = 1% return.

  • lukelegend on 03/07/2016 - 09:28

    How do you sell the free flight with the Amex card?

  • Priceless Class on 20/07/2016 - 06:56

    NAB has a range of cards currently offering 0% rate on purchases for 15 months plus reward bonuses depend on which card you use. Fee does apply for balance transfers, so only use for purchases. Annual fees from 30-250 dollars depending on which card/rewards program you choose.

    • Holysmoke on 20/07/2016 - 08:12

      Very low bonus point offers and no free annual fee.
      Rather look at Westpac https://www.ozbargain.com.au/node/256382

      • Priceless Class on 20/07/2016 - 10:56

        I'd still suggest the 0% purchase interest rate on the NAB cards leave you better off in terms of interest saved in an offset account for 15 months compared to points…

        • Priceless Class on 20/07/2016 - 11:03

          Furthermore you can use this card to build up a balance and then balance transfer to good BT offers as they arise without fear of time constraints to avoid interest etc. I plan to do this 2 or 3 times over the 15 months

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