Credit Card + Reward Card?

beefmaster on 13/12/2019 - 12:08
Last edited 13/12/2019 - 12:09

I am now using NAB Rewards Platinum card because of free annual card fee that came with my home loan. The card have $6K limit which I almost max out every month, paying grocery, bills and ozbargin purchase, all easily repay with my salary. So the card does fit my life style.

I do not use flybuy card nor coles reward card even though I only purchase grocery from coles. I read those flybuy card is difficult to get reward so I never bother with it. I do not have virgin/qantas reward card, because I rarely fly interstate and mostly South East China for overseas.

The only reward I am getting is from the Visa card where I claim JB or Myer gift card.

I am evaluating what is the best way to max the reward with my purchase. I read too many AMEX 2% in ozbargin and have no idea what this is. My impression of AMEX is the card is expensive.

Anyone able to share tips and suggestion? What card I should use, what reward scheme I should subscribe to?

Financial Credit Card

Comments

  • JacobHarvey on 13/12/2019 - 12:25

    If your NAB card is free, you have no interest in Qantas/Velocity, and are happy with the rewards so far then one relatively straight-forward thing you could do would be to ask to upgrade your NAB Rewards Platinum to the Signature version.

    That card earns points at a higher rate and should also be free if you are paying a home loan package free, but it does come with a $15000 minimum credit limit (so would need a credit check)

  • ShortyX on 13/12/2019 - 13:18

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

    Try the Coles credit card to stack flybuys if you only shop at Coles (plus earn flybuys at Target, Kmart, etc)

    • It has the flybuys barcode on the back of the card (or use Stocard app) so you get flybuys points in addition to the points from spending
    • 1% return rate - $1000 spend/2000 points equates to $10 reward that you can have automatically apply as a discount at Coles when scanning your flybuys barcode
    • Downside is $99 annual fee but you should earn at least $720/year in rewards (based on $6k/month spend)
    • No international transaction fees
    • firestormx on 13/12/2019 - 18:40

      You don't get any points on transactions with government entities with the Coles card. We cancelled our Coles card for this reason as we no longer get points for things like rego, council rates, water rates etc.

      • ShortyX on 18/02/2020 - 14:48
        +2

        Don't those payments normally have a ~2% credit card transaction fee anyway? So probably not worth paying for them on the credit card.

        • daft009 on 25/02/2020 - 10:53

          not all. very few charge a surcharge.
          some cards still pay full points on such charges… just a matter of finding them ;)

  • lubos on 13/12/2019 - 13:35

    If you want rewards card, don't just mindlessly accumulate points. Figure out what do you want those points to spend for. Gift cards? Economy flights? This will allow you to calculate how much a point is worth to you.

    Calculate how much you will spend per year so you know how many points will you accumulate. Deduct card annual fee and the difference is your profit.

  • bluesky on 13/12/2019 - 18:51

    read too many AMEX 2% in ozbargin …

    I think you mean the HSBC Everyday Global 2% cashback. It is not a credit card, but a debit card. The 2% is only for tap and pay purchases. Post regarding this. You need to deposit $2000 per month to be eligible for this cashback though.

    You can also get a $100 bonus for opening this account - see post.

  • blueyez on 20/02/2020 - 12:37

    I'd recommend signing up for flybuys - it is free - so that you can start earning points which you can redeem on gift cards etc from flybuys, or just use it to get $10 off your shop when you reach 2000 points. If you want to maximise how many points you can get with flybuys, consider getting one of the Coles credit cards to boost up the flybuys points.

    If you're not interested in building flyer points but want Amex, look at the cards where you can accrue Amex reward points which can also be used on gift cards etc. Amex do good card offers like spend a certain amount and get some money back.

    It doesn't sound like you are fussed with which rewards you want out of your credit card. There are so many out there - it is easier to choose what rewards you want out of the card before starting your search.

  • His_Holiness on 20/02/2020 - 18:54
    +1

    I do not use flybuy card nor coles reward card even though I only purchase grocery from coles. I read those flybuy card is difficult to get reward so I never bother with it.

    That's one of the stupidest justifications I've read in a while

    • kerfuffle on 20/02/2020 - 22:09
      +1

      It was hard when the program first started in the mid 90s, but it's a lot easier these days, especially if you take advantage of the bonus points offers.

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