Which Credit Card to Use for Business Spending $300K+ Pa?

Lwittyidea3460 on 20/05/2017 - 22:27

Hi all,

I'm looking for a credit card to replace my ANZ Rewards Black card due to the significant reduction in AMEX rewards that will occur in August.

Card info:

  • It will be used for business expenses, approx $300,000 pa
  • I don't mind paying a large annual fee if the reward points make it worthwhile
  • Reward points must be able to be turned into cashback or at least gift cards.
  • I can use AMEX for most expenses

So far I've found it very hard to find and compare these types of cards so any personal recommendations would be great!

Thanks in advance.

Financial Credit Card

Comments

  • Findo on 20/05/2017 - 23:06
    +1

    Amex platinum charge card?

  • tio on 20/05/2017 - 23:26
    +1

    I would go with either Amex Velocity Platinum or Qantas American Express Ultimate Card. Main thing about these 2 cards that stands out are the minimum 1.5 reward point per dolar spent, except for insurance or government agencies. But then you can work around that restriction, with a tax deductable surchage.

  • easternculture on 21/05/2017 - 00:13
    -1

    Do you travel a lot?

    • wittyidea3460 on 21/05/2017 - 12:21

      No, not really which is why I would prefer cashback/gift cards.

  • [Deactivated] on 21/05/2017 - 02:15
    -6

    low rate cba mastercard

  • slknv on 21/05/2017 - 10:27

    I've been using westpac altitude black for my business. They are reducing the amex earn rate like most other cards (I think down to 2.5 instead of 3). Will be reviewing my card choice in the next few weeks as well prior to eofys - will be checking pointhacks pretty frequently I think! Keep us updated on your final choice.

    • wittyidea3460 on 21/05/2017 - 12:31

      Thanks. I'll check out pointhacks again. When I first checked them out I just assumed it was a site to just send me to referral links but now I can see they actually have some great info.

      I'll be sure to let you know my choice when I decide. Please do the same for me!

      Cheers.

  • naritas on 21/05/2017 - 21:39
    +1

    We've seen a number of our business clients migrating to AMEX Platinum Charge Card because apparently the rewards system is quite lucrative if you are consistently spending $10k+ plus per month and have corporate travel requirements (which from the sounds of it, won't be a major selling point for you).

    A couple of things you'd probably want to think on:
    1. It's a charge card (i.e. balance needs to be cleared each month) - this is not the same as a credit card (which will typically give you an interest free period up to 55 days). So if your business requires that interest free period to smooth cash flow, this could be a big issue.
    2. It has a cap of 375,000 points per annum. Granted that is a lot of points, however, if you're spending $300,000+p.a. you may need to consider an uncapped card like the NAB Rewards Business Platinum or Citibank Prestige.

    Hope this helps.

    • benwaffle on 21/05/2017 - 22:29

      Amex Plat charge still has up to 44 interest-free/cash flow days to pay balances

      • naritas on 21/05/2017 - 22:52

        You may be right, because we are only talking from seeing business transactional records. However, the most common thing that we are seeing with charge cards is that the cardholder (business) is clearing the balance each statement period (approx 30 days). Charge cards are not intended to carry over balances that can be paid down over months. So most businesses make a pretty strict regiment to clear that balance because if you don't clear the outstanding balance in full each cycle all the points in your account are forfeit and large fees will apply.

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