Hello,
I always see posts regarding credit cards and signing up for qantas points and so on - with that said, I was wondering if points such as flybuys, qantas, velocity are interchangeable and if it was worth getting credit cards to take advantage of these offers and also what these points are worth. I have never had a credit card in my life.
Thanks.
It can be worth it if there's a sign up bonus. I would not take out a rewards card if there was no bonus on sign up at the very least.
Sign up bonus might be useful initially but perhaps not ongoing. Depends on expenditure.
Yep that's true, people tend to cancel their cards after they get the points.
I'd say the opposite, you don't have to spend a lot to receive a large return, if you're not changing your expenditure and paying off early there is literally no downside. It's only an issue if you artificially increase your spending because you may earn a few extra points (that's the psychological part that the banks are banking on).
Overall if you're like many of us here on Ozbargain the benefit far outweighs the cost, especially churning through them. I've been able to travel business class for the past 3 years, with all airfares paid for via FF points.
Flybuys can be transferred to velocity but not the other way around from memory
I'm not sure what Qantas can be transferred to.
Personally between ANZ, Coles, Citibank, St George etc there's always decent offers on the table The aim is to apply for the ones with Bonus points, earning points on everyday spend is a tad tedious.
Just churn through them, cancelling them as soon as you get the bonus points and you'll be flying around the world in business in no time (provided covid clears up).
Am I able to put business expenses on the card such as buying inventory in most cases?
Sure can ;) best way to build points
If the seller accepts credit cards then yes, there are specific credit cards for businesses as well, qantas do these from memory. There may be a slight surcharge in some cases.
The only things that don't get included are many government bills
Or the points are not worth the surcharges.
Once upon a time you could pay $100,000 (or whatever amount) to the ATO in the last week of June to prepay/top up your taxes, then do your tax return in early July to get all of that $100,000 back.
Quick and easy, now so not worth it even with the surcharges being tax deductible.
@TheMindsetTraveller: Ahh the work around that ruined rewards cards for the many. But the people who did it went first class a lot of places!
Are there ever any 'sales' on gift cards? (e.g. for a limited time: less points required to get a $50 woolies gift card)
You have to spend a lot to receive a little. Unless you spend a lot, pay immediately (no interest charges) it's often not worth it. They typically have an annual fee and higher interest rates. So it could cost you more than you get back.