Should I Get a Credit Card?

Cheese86 on 25/02/2017 - 20:39

I'm 30 and have never had a credit card before. Never needed it and have always been a bit wary of that stuff.
But I'm wondering if the perks are worth it. I honestly don't spend much at all, aside from bills, strata, etc.

The ANZ Frequent Flyer Black has been recommended a few times here and I was just looking at the conditions. If we tried, my partner and I could make the $2,500 target needed to get the 75k Qantas points…

Any advice on credit cards and whether or not I should do it in the first place?

Financial Credit Card

Comments

  • captobvious on 25/02/2017 - 21:08
    +1

    handy to have. albeit points and complimentary insurance.
    with the new qf points structure 75k wont go far. maybe wait for a new deal and hope they up the points

  • Cheese86 on 25/02/2017 - 21:19

    Thanks capt, and for warning me about the qantas point restructure!

  • [Deactivated] on 25/02/2017 - 22:16
    +1

    There's no real need for a credit card if you have a visa or master card with your savings account.

    • Cheese86 on 26/02/2017 - 22:43

      That's what I've always believed. But then I hear colleagues talk about credit card perks here and there…

  • bluesky on 25/02/2017 - 23:00
    +1

    Any advice on credit cards and whether or not I should do it in the first place?

    If your criteria is to get a big bonus from application, my comments aren't that relevant.
    If you are interested to test the waters, with very little downside, but still get some application bonus, and a card with rewards/benefits, then a fee-free Amex card is certainly an option.

    If you are after Qantas points, Amex Qantas Discovery gives 12,500 points via referral link, for $750 spend in first 3 months (additional 2,500pts for specific Qantas spend). Otherwise, Amex Essential, also fee-free, which I posted about here provides more flexible rewards. I have both, and am happy with them.

    Credit cards can yield benefits, but as to whether you are bothered with the perks, and how far/how much effort you are prepared to go to reap the benefits, is entirely a personal choice. E.g. I have not bothered with card churn (cancel/reapply cycle) to keep reaping bonus points, but I am happy to get some rewards/ benefits for my everyday spend.

    • Cheese86 on 26/02/2017 - 22:41
      +1

      Fee-free is definitely a plus. Thanks for referring me to the Amex card, particularly Amex Essential. (I doubt I'd fly Qantas as others always seem cheaper anyway). I will look into it with my partner.:)

      • bluesky on 27/02/2017 - 06:50

        You are welcome. Yes, among the two, I also prefer the Essential card.

  • oscargamer on 26/02/2017 - 08:46

    Do you have a mortgage and savings?

    • Cheese86 on 26/02/2017 - 22:41

      Yep! I do.

      • oscargamer on 26/02/2017 - 23:30
        +2

        Then use your savings in an offset account. Run up all your monthly bills on your cc and clear it at the end of each month. This makes your savings work their hardest.

        • Cheese86 on 01/03/2017 - 09:01

          Yeah, I was thinking about that. :) That's mostly what my money goes to - bills. Don't really spend much otherwise.

  • Skramit on 26/02/2017 - 18:25
    +1

    If you travel once or twice a year, especially anywhere overseas, the complimentary travel insurance most major cards provide is worth it. I've claimed a few times for delayed flights etc.

    • Cheese86 on 26/02/2017 - 22:44

      Thanks for the tips! (I've used TID for my last few trips which were cheap enough I guess)

  • Holysmoke on 26/02/2017 - 19:10
    +1

    Amex, for the frequent offers that come up: https://www.ozbargain.com.au/deals/network.americanexpress.c…

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