Help Me Pick The Right Credit Card

ausmechkeyboards on 03/01/2019 - 16:46

Hey,

I've come across a few credit card deals here on OzB and I'd like some hand holding on which might be the right one for me.

Me:

  • Under 30
  • Six figure income
  • No debt
  • Never had a credit card before

These are the ones I'm looking at:

Notes:

  1. I'm open to having more than one card
  2. I don't have issues with the minimum spend requirements of any card - I can meet it
  3. This year I intend on doing a significant amount of travelling to and from Latin America, likely using the airline LATAM

Which credit card(s) do you recommend I look at? Is there any major pitfalls from certain banks or cards? Are there any other cards I should be looking at that are not listed here?

Let me know if I'm missing any information.

Thanks

Financial Credit Card

Comments

  • Godric on 03/01/2019 - 16:59
    +11

    This is your 3rd posting seeking the same advice, are you just trying to flex your salary or something?

    • Changskies on 03/01/2019 - 17:15
      +1

      To be fair, in Sydney you can earn 6 figures and no one thinks biggie

  • arkie0 on 03/01/2019 - 17:03

    I'm super impressed since you earn a six figure salary, Get all 4.

  • swapsey on 03/01/2019 - 17:13
    -1

    Why do you need a credit card? Unless there's a good reason like paying emergency medical I would avoid.

    • ausmechkeyboards on 03/01/2019 - 17:15
      +1

      Because at a bare minimum I'd get free travel insurance which would make the card pay for itself. And i'm somewhat frugal so if I can pay for stuff with points it would be a good thing. It's not going to make me spend any more or less.

      • swapsey on 03/01/2019 - 17:18
        +1

        Travel insurance is not worth the risk of incurring high interest rates from forgetting to pay. And there is better cover imo when u buy a policy separately for your trip. I think many people have fallen into this trap. If something is free then you need to take a bigger picture of why and how they profit from offering that free travel insurance.

        • ausmechkeyboards on 03/01/2019 - 17:27

          Hmm I'll look into their insurance policies, thanks. I didn't consider the cover wouldn't be great.

        • Gaz1 on 03/01/2019 - 17:33
          +1

          Most cards (all?) let you setup autopay for the full balance each statement, so you can avoid any interest.

          Most of the credit card insurances are surprisingly good (perhaps its just that the ordinary ones got worse).
          Choice magazine did an article on them a while back.
          You can look at the exact cover details for each of the credit cards on the website to see if you can find one that covers the things you require.

        • Stuntdriver on 04/01/2019 - 07:21

          Just set a reminder each month to remember to pay, as for insurance any one you pick has heaps of conditions and they will try to weisel out of paying if they can, thats just insurance.

  • sahh on 03/01/2019 - 17:27

    I’d suggest the Westpac one you listed as it’s the most amount of points with no annual fee (I’m anti annual fees) plus from memory it’s a Visa card which is more widely accepted than the Amex.

  • Gaz1 on 03/01/2019 - 17:35
    +1

    LATAM is part of the Oneworld alliance, so a card that will give you points with a Oneworld carrier (eg Qantas) might be best.
    Amex also allow transfer to Asiamiles (which is also a oneworld alliance member).

  • Gaz1 on 03/01/2019 - 17:36
    +2

    From a points earning capacity, Amex is devaluing tansfers by 50% from April, so a 1:1 qantas earn might be a lot more usable.

  • andyyle on 03/01/2019 - 17:55

    PM'd

  • Stuntdriver on 04/01/2019 - 07:23

    what a bout QANTAS premier Platinum 70,000 points, 1:1 earn and $149 first year fee. You should post how much you spend each month on CC, as it will determine which card works better.

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