[[credit_card_rewards_comparison]]
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Credit Card Rewards Comparison
Everyone's circumstances are different but for the sake of comparing let's assume the following:
- You pay your bills on time every month
- You spend $5000/month (Myer Visa cback max at $2000 a month)
- If CC utilises petrol savings let's assume $400/month in petrol expenses.
- If CC utilises supermarket savings let's assume $400/month in supermarket expenses.
- If CC utilises frequent flyer points, let's assume Melbourne-Sydney one way costs: $80-Virgin Blue,$95-Qantas
- If CC combines AMEX with Visa or MasterCard, let's assume all spending is put on the AMEX card. 1)
| Type | Annual Reward Yr1/Yr2 | Annual Fee Yr1/Yr2 | Yr 1 Profit | Yr 2 Profit | Link | Last Checked/Calculated | |
|---|---|---|---|---|---|---|---|
| Velocity NAB AMEX Gold | AMEX+Visa | $640 | $150 | $490 | $490 | OzBargain | |
| Qantas AMEX Discovery Card2) | AMEX | $530 or $400/$475 or $400 | $0 | $530/$400 | $475/$400 | OzBargain | 11/12/10 |
| Westpac Altitude Gold3) | AMEX+Visa/MC | $650/$475 | $0 / $150 | $650 | $475 | OzBargain | |
| BP Citibank4) | MCard | $540 | $79 | $461 | $461 | OzBargain | 8/3/10 |
| Qantas AMEX | AMEX | $380 | $149 | $380 | $380 | OzBargain | |
| Woolworths Everyday Card | MCard | $482/$432 | $0 / $49 | $482 | $383 | OzBargain | |
| BankWest More Platinum MasterCard | MCard | $600/$500 | $190 | $410 | $310 | Bankwest | |
| Westpac Altitude Platinum 5) | AMEX+Visa/MC | $1100/$1000 | $295 | $800 | $700 | OzBargain | 15/9/11 |
| Commbank Awards MasterCard | MCard | $300 | $59 | $241 | $241 | Commbank | |
| Citibank Platinum6) | VISA | $750/$350 | $250 | $500 | $200 | OzBargain | 11/3/11 |
| Myer Visacard7) | VCard | $120 | $39 | $81 | $81 | OzBargain | 21/3/11 |
1)
Merchants' restrictions on AMEX cards (surcharge or non-acceptance) are common issues. Using the accompanying Visa/MasterCard would earn you less points and hence less reward value, but still better than AMEX-only card programs.
2)
First redemption is for flights, second is based on Woolworths gift cards
3)
Based on redeeming credit card deposit; 2nd year based on redeeming annual fee refund + credit card deposit
4)
5% cashback on petrol at BP; 0.5% cashback on everything else; starting from 04/05/2009
5)
Based on redeeming credit card deposit and redeeming annual fee refund
6)
Based on redeeming gift cards and redeeming annual fee refund
7)
Only redeemable for Myer Gift Cards
Last edited by neil on 2015/06/10 10:57