[[credit_card_guide]]
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credit_card_guide [2020/01/19 18:02] E5TOQUE |
credit_card_guide [2024/02/12 09:36] (current) supernova [HSBC Platinum] |
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| ====== Australian Credit Cards - Which cards should you get to have an all-rounded portfolio that suits all your needs? ====== | ====== Australian Credit Cards - Which cards should you get to have an all-rounded portfolio that suits all your needs? ====== | ||
| - | This guide is maintained by illumination and was inspired by [[https://www.ozbargain.com.au/node/193567#comment-2739556|this comment]]. Updated sporadically when I have time. I am happy for others to edit and add their own additions, but would like for any additions/amendments to be noted. | + | This guide was initially created by illumination, and was inspired by [[https://www.ozbargain.com.au/node/193567#comment-2739556|this comment]]. Please notate any additions/amendments in the "edit summary" section when you update this page! |
| ===== Introduction ===== | ===== Introduction ===== | ||
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| In the examples given below, the percentage used to show "rate of return" is based on gift cards, NOT premium class airfares/upgrades which arguably provides greater value for your points. All rates of return are calculated per dollar spent. | In the examples given below, the percentage used to show "rate of return" is based on gift cards, NOT premium class airfares/upgrades which arguably provides greater value for your points. All rates of return are calculated per dollar spent. | ||
| + | =====Travel Cards (Debit and Credit Cards with no international fees)===== | ||
| + | |||
| + | ====Take a read of the Ozbargin Wiki located here:==== | ||
| + | |||
| + | [[https://www.ozbargain.com.au/wiki/cards_with_no_overseas_transaction_fees?&#credit_cards_with_no_overseas_transaction_fees|Cards with no overseas transaction fees]] | ||
| + | |||
| ===== Purchasing Airfares with Frequent Flyer/Rewards Points ===== | ===== Purchasing Airfares with Frequent Flyer/Rewards Points ===== | ||
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| * You owe $10,000, and if you do not have $10,000 currently saved, you will be accruing interest on this amount owed at the interest rate of card after the due date of your next statement | * You owe $10,000, and if you do not have $10,000 currently saved, you will be accruing interest on this amount owed at the interest rate of card after the due date of your next statement | ||
| * You can now apply for a credit card with a promotional offer on Balance Transfers (such as, 0% on Balance Transfers for the next 16 months) | * You can now apply for a credit card with a promotional offer on Balance Transfers (such as, 0% on Balance Transfers for the next 16 months) | ||
| - | * If approved, for the next 16 months you will still owe $10,000 and you will NOT accrue any interest charges | + | * If approved, for the next 16 months you will still owe $10,000 and you will NOT accrue any interest charges. |
| + | * In practice, there are minimum monthly payment and admin fee that you need to consider. For my case, it was $168/month minimum payment and 1.5% upfront fee. It is NOT free money for the 16-30 months, and the admin fee is higher than Saving Interest you can accrue from the balance. As such, unless you're having a substantial Credit Card balance, it is NOT A DEAL. | ||
| === Cheque to Self (an even better type of Balance Transfer) === | === Cheque to Self (an even better type of Balance Transfer) === | ||
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| These American Express cards over the last few years (2014-2016) have always had a bonus points offer on sign up. The amount may vary on a roughly quarterly basis, but is usually a variation of the points awarded, annual fee waiver, and/or a balance transfer promotion. | These American Express cards over the last few years (2014-2016) have always had a bonus points offer on sign up. The amount may vary on a roughly quarterly basis, but is usually a variation of the points awarded, annual fee waiver, and/or a balance transfer promotion. | ||
| - | All the following cards will give you access to many of the [[https://network.americanexpress.com/connect/au/en/default.html|AMEX statement credit deals]] posted here - often times you could make savings worth hundreds of dollars annually with these offers. Some of these offers are exclusive to American Express **direct** issued cards, which means those listed on [[https://www.americanexpress.com/au/content/all-cards/|this page]]. This is as opposed to American Express cards issued by the banks - which at present are only issued by three of the four major banks of Australia: NAB, Westpac, Commonwealth Bank. | + | All the following cards will give you access to many of the [[https://network.americanexpress.com/connect/au/en/default.html|AMEX statement credit deals]] posted here - often times you could make savings worth hundreds of dollars annually with these offers. Some of these offers are exclusive to American Express **direct** issued cards, which means those listed on [[https://www.americanexpress.com/au/content/all-cards/|this page]]. This is as opposed to American Express cards issued by the banks - which at present are only issued by two of the four major banks of Australia: NAB, Westpac. |
| **N.B.** As of 2017-11-13 NAB no longer issues new AMEX cards and existing cards will expire on 2018-02-21 as per [[https://www.nab.com.au/personal/banking/credit-cards/manage-your-credit-card/nab-american-express-cards|this link]]. | **N.B.** As of 2017-11-13 NAB no longer issues new AMEX cards and existing cards will expire on 2018-02-21 as per [[https://www.nab.com.au/personal/banking/credit-cards/manage-your-credit-card/nab-american-express-cards|this link]]. | ||
| + | ** Commbank stopped ** issuing AMEX cards and existing cards have been expired. | ||
| The common features of these cards are as follows: | The common features of these cards are as follows: | ||
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| * Rate of Return (on a versatile Gift Card): ~0.74%? | * Rate of Return (on a versatile Gift Card): ~0.74%? | ||
| ===== Mastercard/Visa ===== | ===== Mastercard/Visa ===== | ||
| - | ==== (EDITED) Citibank Signature Visa Card (reduced $199 annual fee in the first year (normally $395 per year))==== | + | ==== (EDITED) Citibank Premier Visa Card (reduced $199 annual fee in the first year (normally $395 per year))==== |
| [[http://www.citibank.com.au/aus/credit_cards/cards_signature.htm|Official Page]] | <del>[[https://www.ozbargain.com.au/node/190295|Free for Life Promo]]</del> **this offer is now expired** | [[http://www.citibank.com.au/aus/credit_cards/cards_signature.htm|Official Page]] | <del>[[https://www.ozbargain.com.au/node/190295|Free for Life Promo]]</del> **this offer is now expired** | ||
| * 75,000 points on your first spend within 90 days from card approval | * 75,000 points on your first spend within 90 days from card approval | ||
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| ====HSBC Platinum==== | ====HSBC Platinum==== | ||
| [[https://www.hsbc.com.au/1/2/personal/credit-cards/platinum|Official Page]] | [[https://www.hsbc.com.au/1/2/personal/credit-cards/platinum|Official Page]] | ||
| - | * $129 annual fee, refunded if you spend over $6,000 in the year | + | * $149 annual fee, first year waived. |
| * Complimentary 12 months Extended Warranty on most purchases of "personal goods" | * Complimentary 12 months Extended Warranty on most purchases of "personal goods" | ||
| * Complimentary Travel Insurance | * Complimentary Travel Insurance | ||
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| ====Coles Mastercard==== | ====Coles Mastercard==== | ||
| [[http://www.colescreditcards.com.au/compare-our-cards|Official Page]] | [[http://www.colescreditcards.com.au/compare-our-cards|Official Page]] | ||
| - | * $99, $49 or $0 Annual Fee | + | * $99, $58 or $0 Annual Fee |
| - | * 2 points/$1, 1 point/$2 or 1 point/$2 | + | * 2 points/$1#, 1 point/$2 or 1 point/$2 (#for the first $3,000 spent each month, 1 point / $1 thereafter) |
| * 6 months Merchandise Protection (costs 1% of closing balance, avoidable if you pay the balance owed prior to statement being generated | * 6 months Merchandise Protection (costs 1% of closing balance, avoidable if you pay the balance owed prior to statement being generated | ||
| + | * No International transaction fee on purchases: Yes, No, No | ||
| * Rate of Return: 1% or 0.25% | * Rate of Return: 1% or 0.25% | ||
| * Free Delivery with Coles Online when order over $100, not available to remote areas. | * Free Delivery with Coles Online when order over $100, not available to remote areas. | ||
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| * <del> **Price protection** Pays the price difference to your account if an eligible item purchased with your card reduces in price at the same store within 24 months of purchase.</del> (No longer provided with new cards) | * <del> **Price protection** Pays the price difference to your account if an eligible item purchased with your card reduces in price at the same store within 24 months of purchase.</del> (No longer provided with new cards) | ||
| * **Merchandise protection** Pays the cost of repair or replacement if an eligible item purchased with your card is lost, stolen or damaged within 6 months of purchase. | * **Merchandise protection** Pays the cost of repair or replacement if an eligible item purchased with your card is lost, stolen or damaged within 6 months of purchase. | ||
| - | =====Travel Cards (Cards with no international fees)===== | ||
| - | ====Take a read of the Ozbargin Wiki located here:==== | ||
| - | |||
| - | [[https://www.ozbargain.com.au/wiki/cards_with_no_overseas_transaction_fees?&#credit_cards_with_no_overseas_transaction_fees|Cards with no overseas transaction fees]] | ||
| - | |||
| =====Promotional Credit Card Table===== | =====Promotional Credit Card Table===== | ||
| Please Update as deals as they change. \\ | Please Update as deals as they change. \\ | ||
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| ^Bank ^Card ^Points ^Points Program ^Annual Fee ^Min Spend ^Min Income ^Min Credit Limit ^$/100pts ^MC/Visa Earn ^AMEX Earn ^Travel Insurance ^Other Main Bonus^OZ Bargain Link^ | ^Bank ^Card ^Points ^Points Program ^Annual Fee ^Min Spend ^Min Income ^Min Credit Limit ^$/100pts ^MC/Visa Earn ^AMEX Earn ^Travel Insurance ^Other Main Bonus^OZ Bargain Link^ | ||
| - | |AMEX| Qantas Ulitmate |55,000 |Qantas |$450 |$1,500|$65,000|$3,000 |0.818|-|1.5 | |- | | + | |AMEX| Qantas Ultimate |55,000 |Qantas |$450 |$1,500|$65,000|$3,000 |0.818|-|1.5 | |- | |
| - | |AMEX|Velocity Plantinum |100,000|Velocity|$375 |$1,500|$65,000|$3,000 |0.375|-|1.5 |✔|Domestic Return Flight, 2x Virgin Domestic Lounge Passes|[[https://www.ozbargain.com.au/node/307458|LINK]]| | + | |AMEX|Velocity Platinum |100,000|Velocity|$375 |$1,500|$65,000|$3,000 |0.375|-|1.5 |✔|Domestic Return Flight, 2x Virgin Domestic Lounge Passes|[[https://www.ozbargain.com.au/node/307458|LINK]]| |
| |ANZ |Rewards Platinum |50,000 |Qantas | $0 |$2,500|$35,000|$6,000 |0.000|0.75|-| | | |ANZ |Rewards Platinum |50,000 |Qantas | $0 |$2,500|$35,000|$6,000 |0.000|0.75|-| | | ||
| |ANZ |Rewards Black |75,000 |Qantas |$0 |$2,500|$75,000|$15,000|0.000|1|- |✔|2x Qantas Club Lounge Passes|[[https://www.ozbargain.com.au/node/306408|LINK]]| | |ANZ |Rewards Black |75,000 |Qantas |$0 |$2,500|$75,000|$15,000|0.000|1|- |✔|2x Qantas Club Lounge Passes|[[https://www.ozbargain.com.au/node/306408|LINK]]| | ||
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| |Macquarie|Black Qantas |40,000 |Qantas |$100 |$3,000|$70,000|$15,000|0.250|1|- | | |Macquarie|Black Qantas |40,000 |Qantas |$100 |$3,000|$70,000|$15,000|0.250|1|- | | ||
| |Qantas|Premier |60,000 |Qantas |$150 |$3,000|$35,000|$6,000 |0.250|1|- |✔|2x Qantas Club Lounge Passes|[[https://www.ozbargain.com.au/node/311056|LINK]]| | |Qantas|Premier |60,000 |Qantas |$150 |$3,000|$35,000|$6,000 |0.250|1|- |✔|2x Qantas Club Lounge Passes|[[https://www.ozbargain.com.au/node/311056|LINK]]| | ||
| + | |Qantas|Premier Platinum|100,000 |Qantas |$199 |$4,000|$35,000|$4,000 |0.199|1 (Qantas)|- |✔|2x Qantas Club Lounge Passes, 75 status credits|[[https://www.ozbargain.com.au/node/569784|LINK]]| | ||
| |St George|Amplify Signature|60,000|Qantas|$279 |$3,000|$75,000|$15,000|0.465|0.75 |-| | |St George|Amplify Signature|60,000|Qantas|$279 |$3,000|$75,000|$15,000|0.465|0.75 |-| | ||
| |Westpac|Altitude Black |80,000 |Qantas |$195 |$5,000|$75,000|$15,000|0.244|0.625 |1.5| | |Westpac|Altitude Black |80,000 |Qantas |$195 |$5,000|$75,000|$15,000|0.244|0.625 |1.5| | ||
Last edited by supernova on 2024/02/12 09:36