Credit Cards with Benefits (points, rewards, travel etc) - Who and Why?

• 

  yoyo6 on 02/07/2017 - 16:19

  +4

  Credit cards have recently all changed their points structure. It has become very complicated but to maximise the benefit you should have at least two cards, a mastercard or visa and an american express. Try to sign up when there is a free first year offer with a big bonus.The best place to read up on the different options is pointhacks.com.au

• 

  dcep on 02/07/2017 - 18:56

  +1

  always wanted to signup an amex for all those statement cashback deals posted here.

• 

  kipps on 02/07/2017 - 20:04

  +2

  What credit cards give you the best benefits?

  First, for overseas travel and transactions, I use a card with no FX fees. FX fees are generally more than you will get out of any rewards. Look at 28 Degrees, Bankwest Platinum cards, or Citibank Debit.

  This really depends on how you use the card.

  Only go for rewards if you pay the balance in full every month.

  I currently use Qantas branded cards for nearly every purchase, but I am not convinced it is the best value any more. Unless you want to use points for business upgrades (I do not), they have watered down redemption and jacked up taxes too much. Will instead be migrating towards cards with an awards program (ie, AMEX and other bank programs). Look at the value of rewards you can obtain for about $10,000 spend to compare.

  Be careful blindly trusting sites like PointsHack. Their recommendations might be swayed by affiliate deals.

  Are there any point sign up deals going on for signing up?

  There are always these deals available. Just be mindful of hitting your credit file too often.

  What is the best reward system - switching points for the rewards?

  I think you meant switching cards. Sign on bonuses are always good.

• 

  Pharos5 on 02/07/2017 - 20:52

  +4

  Should check the OZB guide out:

  https://www.ozbargain.com.au/wiki/credit_card_guide

• 

  maverick1 on 22/07/2017 - 09:49

  +1

  For newbies I would say based on ur income etc the very 1st card that u shud aim for is ANZ FF with 75K qantas points it is a no brainer.
  For hotels n travel i would recommend reading up on anex explorer n DJ great cards to hv to collect hotel points for brands like sheraton, Marriott, westin, st regis, W etc. for travel u shud luk to focus on collecting hotel currency ie spg or hilton points through amex points n ff miles via all other cards including AMEX. Hope this helps!

• 

  Kangaroo Jack on 23/07/2017 - 11:25

  Thanks so much for the help and advice everyone.

  I already have a 28 degree card for travel (its great). But I have applied for the Velocity Platinum card which gives you 100,000 points on sign up.

  Ive only had positive experiences flying Virgin - we also recently had a terrible experience on Jetstar (where our safety was highly at risk by an aggressive passenger - so figure I'll never fly with them again anyway, particularly as we were only offered a $100 voucher for $2,500 spent on flights).

  Thanks again everyone.

  KJ

• 

  keepa on 24/07/2017 - 13:31

  I would suggest looking at the AMEX explorer, although it does come with a $395 annual fee, this is offset with the $400 travel credit and 100,000 rewards points which are transferable to a wide range of different partners - both hotel and airline.

  If you do apply use a referral in the wiki sections.