Choosing a Credit Card Assuming That Travel Points Are Worthless for The Next ~1 Year?

xrailgun on 26/05/2020 - 13:14
Last edited 26/05/2020 - 14:50 by 1 other user

I think the majority of CC choice and related guides have come down to earning travel points and massive sign on bonuses as far back as I could find.

Now if I'm assuming that they'll be useless for the next year or so (or even permanently depending on the outcomes of restructures/bankruptcies), what else should I look for?

Y'all reckon the priorities will change, or stay with massive sign on bonus cards and just accumulate points?

Are there CCs that compete heavily on things like cashback or other forms of rewards?

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  Archi on 26/05/2020 - 13:56

  even though they may be useless for the next 12 months… they will be even more worth while when things resume to normal.

  most people are saying flying will be more expensive so using the next 12 to 18 months to accumulate points for future use is probably a still a good idea

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    xrailgun on 26/05/2020 - 14:48

    if they're going to be more expensive after this, won't you expect them to really cut FF points value?

    • 

      Archi on 26/05/2020 - 15:05

      probably… but there will always be people who find value is these things, or else they wouldn't exist. I have about 500K in points. that was meant to be used this year on 2 family trips. just means the trip is delayed and I have opportunity to earn more points to use later,

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  encryptededdy on 26/05/2020 - 14:07

  +1

  Well, if you want to keep the card for a while you could go for something like the StGeorge Amplify Signature - 100k points per year for first 2 years provided you spend 12k. After 2 years, you can evaluate whether you want to transfer these to transfer partners (they transfer 2:1, so 200k points = 100k KrisFlyer for example), or redeem as cashback/gift cards (worth approx. $900) etc.

  ANZ Rewards Black also gives you 150k sign-up. The ANZ points are worth approx. the same for gift cards, but are worth less for airline transfers (3:1)

  • 

    xrailgun on 26/05/2020 - 14:53

    had a terrible experience trying to join ANZ, the application dragged out over 2 months, they never tried to follow up unless I did, and each time I did I was referred to an offshore call center that barely spoke English. My income was far in excess of their requirements and I provided payslips from the start.

    If this is what I faced just trying to join, don't even want to imagine the nightmare if I ever needed their help for something, like fraud protection.

  • 

    xrailgun on 26/05/2020 - 15:05

    StGeorge Amplify Signature - how do you reach the $12k?

    • 

      encryptededdy on 26/05/2020 - 15:08

      Well you have 12 months to achieve it. Personally I find I spend >$12k on credit cards annually anyway. That's $1000/mo. If you don't, then you'll probably struggle with many of the sign up bonuses as they usually require $4000-6000 of spend in 3 months for the Visa Signature/MC World level cards anyway.

      • 

        xrailgun on 26/05/2020 - 15:10

        does that include things like rent, utilities?

        • 

          encryptededdy on 26/05/2020 - 15:21

          +1

          @xrailgun: You probably can't pay rent, but the utility and internet company I use do allow CC payments with no surcharge.

      • 

        Archi on 26/05/2020 - 15:48

        +1

        for the year that's $12.5k on essential spending haven't included discretionary spending, food, groceries and other activities or emergencies.

        3k health insurance for the family
        1k insurance for the car
        1K registration and green slip
        1K fuel and minor service for the year
        1K elecrtrity bill
        1.5k council rates
        1k water
        1k home internet and mobile phone.
        2k public transport

        all paid on the credit card. actually very easy to spend 12K

        • 

          xrailgun on 26/05/2020 - 16:55

          @Archi: oh forgot about insurance and rego, good stuff. thanks!

    • 

      Donaldhump on 26/05/2020 - 16:47

      +3

      hang out with my misses she will show how its done

      • 

        xrailgun on 26/05/2020 - 16:54

        i'd take you up on that then ;)