Planning on Getting My First Credit Card. Which One to Get?

LStingray on 02/02/2017 - 14:32
Last edited 02/02/2017 - 15:32

Hey guys just looking for some advice.
I'm about to spend a bit of cash in the next couple months, new laptop (probably Surface pro 5 when it comes out) and an international flight for my dad.
I can pay for them outright but thought it be a good time to get a credit card to rack up a bit of reward points, also want Amex so I can use it on a lot of the deals posted here.

I'm currently with Westpac so I was thinking the Altitude Platinum. 50k points, free first year and has Amex. Also wondering what the best/difference is between Altitude and Qantas points. https://www.westpac.com.au/personal-banking/credit-cards/rew…

I was also thinking maybe the Amex Edge but it has less reward points with the 5000 but seems to earn more points.

Any pointers or better credit card deals would be helpful.

Cheers!

Edit:
Currently at 60k income so I won't be eligible for the more expensive cards.

Financial

Comments

  • pantsparty on 02/02/2017 - 14:43

    ANZ card is the best at the moment I think - https://www.anz.com.au/personal/credit-cards/frequent-flyer/…

    Minimum income of $75k a year.

    • FirstWizard on 02/02/2017 - 14:51

      I recently compared ANZ Frequent Flyer Black and ANZ Rewards Travel Adventures.

      Ended up getting the Travel Adventures. Though ANZ rewards points are not that appealing, the free domestic flights, lounge passes, and the 60k Velocity points got me.
      The card design itself is pretty cool too :D

      • pantsparty on 02/02/2017 - 15:27

        Is the 60k Velocity points deal still going? Had a look on the ANZ website and could not see it. If so it is definitely a good deal if you prefer Velocity points.

    • Stingray on 02/02/2017 - 15:31

      I'm at 60k income so will not be eligible :(
      I'll add it to my post

  • [Deactivated] on 02/02/2017 - 16:01

    the amex explorer was probably the best deal going, you missed out by 2 days (expired 31/1)
    110k points + $400 travel credit ($395 fee/year)

    • Stingray on 03/02/2017 - 08:23

      ahh damn that would have been great. But the minimum is $65k incoming, i'm currently at $60k so I wont be eligible.

    • tommo160 on 03/02/2017 - 18:38

      Bummer, was contemplating the offer late last year but decided to sleep on it for a while, now missed out on the 100,000 points :(

      Will still consider the current offer though….

  • TakaHas on 02/02/2017 - 16:17
    +1

    for your first cc and if you will be continuing to use the card from there on, i would suggest getting a bank issued mastercard/visa + amex.

    this was u can use credit card to accumulate points when places do not accept amex.

    amex plat edge would be good to get points if u use at major supermarkets (3 points to $1 spend) and petrol (2 points to $1 spent). points balance will be slower if u dont maximise its use and i assume you dont do grocery shopping for your household.

    if u want a cc with higher limit, go with bank you current hold savings account with regular salary going in. this way they can see your record of cash flow and can possibly offer higher credit balance.

    getting altitude or qantas depends on which airline you prefer to fly with and destinations. qantas would be easier as it automatically transfers to qff. altitude offers greater flexibility to transfer to other airlines.

    hope this helps.

    • Stingray on 03/02/2017 - 08:19

      Thanks! That really helps a lot!

      Yeah the westpac card seems to be the best for me.

    • Stingray on 03/02/2017 - 09:15

      I've got a question on cancelling credit cards.

      If i got the westpac card and then a few months later I find a better credit card, can i cancel the credit card right away and get the other card? Will doing this affect my credit score (which i probably dont have much since this will be my first credit card)
      What would be the best way to handle this?

      Thanks!

      • TakaHas on 03/02/2017 - 09:36

        will have adverse impact to the credit score, by how much, i dont know unfortunately.

        if u r not intending to get a loan (mortgage/car/personal), dont worry too much, as long as u r not constantly applying for new cc.

        there will always be better deals with cc, same or another financial institute. u r young, they one out and you'll know what u really want down the track.

        unless it is a way better deal and/or u r a points hunter, i would suggest sticking with the westpac card with qff points as your primary cards.

  • bluesky on 02/02/2017 - 16:30

    Different people have different preferences/priorities, so not saying it will suit everyone, but have a look and judge for yourself. For me, the free Amex Essential, which I posted about here is my main everyday credit card, because of the many benefits, for a free card. I am also one who prefers a card I don't have to think about cancel/reapply after 1st year of fee-free, and have rather moderate expenditures. So this card suits me. May be different for others. Hope this helps. Cheers.

    • Stingray on 03/02/2017 - 08:22

      The $0 fee is nice but I don't think i would get the best return on rewards with my coming spending.

      • bluesky on 03/02/2017 - 18:49

        Fair enough. Lots of cards to choose from, bound to be a good one suitable for you.

  • 8azinga on 02/02/2017 - 18:01

    Those amex shopping deals are meant to be by invitation and I'm not sure how they decide who gets it. It seems they have fixed their system so that someone can't post the manual link for anyone to register.

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