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Best credit card for reward points/air miles

Discussion in 'Other Asset Classes' started by The Silver Bear, 28th Jan, 2016.

  1. The Silver Bear

    The Silver Bear Well-Known Member

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    Sydney
    Hey guys.

    I've got to get a new personal credit card to run about $10k a month of business expenses through.
    Does anyone have any tips as to the best value reward card (s) for air miles or reward points?

    Are air miles generally better value than reward points?

    I'm not tied to any particular airline (and nor is Mrs Silver Bear), and don't mind tying myself to one if the points accumulate faster.
    The card will be paid off at the end of every month.

    I'm a complete nub at this stuff but need to make a fast decision.

    Thanks in advance
    The Silver Bear
     
  2. Gingerbeer

    Gingerbeer Active Member

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    If you're going to be running $10k a month, look for a card that doesn't have a points cap per month and at least 1 point per $1 spent.
     
    Perthguy likes this.
  3. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I don't really look at this stuff myself, but I've heard that the Macquarie card is fairly good for Qantas points. Worth checking out.
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    ANZ black card seems pretty good. They had a promo whereby they provide 75000 quantas FF points for new customers who sign up.

    Been using it to pay ATO expenses and racking up a heap of points.....although that's supposed to stop soon.

    Cheers

    Jamie
     
  5. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    FF flights aren't free. Good example was we recently bought LA flights for $940 .Friends travelling with us wanted to use points having spend a ton with a well know retailer with a former scheme that assisted the flying rat airline. Handed over a ****eload of points and then had to pay $680 each for taxes....Looking at our fare I cant even see $680 of fees and taxes. They got a $260 discount in return for their loyalty. Doesn't make any sense. Load of cobblers IMO. Points aren't worth jack when that happens.

    I believe that premium card rules will soon change to try to end this relentless chase for points funded by excessive merchant fees and intercharge scams. RBA rule changes are intended to apply a standard base intercharge so premium intercharge fees disappear and impose the cost directly onto the card issuer. The cards that offer generous points may dry up as a consequence. Maybe ??

    http://www.rba.gov.au/payments-and-infrastructure/resources/qa/
     
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  6. mrdobalina

    mrdobalina Well-Known Member

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    Agree. I got caught out a few years ago breaching the reward points cap.

    I've got a Bankwest More MasterCard World. 2.5 points to $1 spent and unlimited points. I just convert the points to gift cards or cash back.
     
  7. BingoMaster

    BingoMaster Well-Known Member

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    I don't know that it works as well over here as in the states. But there are people in the US who fly for free everywhere:

    One Mile at a Time
     
  8. Gingerbeer

    Gingerbeer Active Member

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    I did a bit of research on credit card 'churning' last week. It works, but wouldn't be as effective as it is in America. Most the cards here that offer up-front bonus point also have annual fees and most banks state in the fine print that you can't re-apply for a card within a year once cancelled. Not to mention your credit rating would take a hit. Sign up your mum, dad, brothers and sisters is the way to go lol
     
  9. kamchatsky

    kamchatsky Well-Known Member

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    Watch out for spending business expenses on personal credit cards. Banks can take the points away from you if you do this as you are not meant to do business spend on personal cards. Have a look at the thread below in AFF (I'm active there):

    ANZ Cancelling or Suspending Points

    Get a business credit/charge card if you intend to use the card for business. You still can get FF points.
     
  10. kamchatsky

    kamchatsky Well-Known Member

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    It is already happening. Citibank Signature and Prestige (Infinity) Card are going through season of devaluation right now. The Signature card was my go to Visa Card (and still is now). I will move all my points to Singapore Airlines Krisflyer before the rate changes (18 March).

    It is a matter of time before other credit cards will follow suit.

    Here is a thread talking about how interchange fee regulations will impact reward credit cards:

    Interchange regulation will lower Visa and MasterCard Points Earn in 2016
     
  11. wylie

    wylie Moderator Staff Member

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    I put about that dollar value through in a westpac altitude black card each month - 1 point per $1 but 3 points if using Amex. I just used about approx 240,000 points and got approx $2500 worth of travel (figures roughly correct without checking). I booked through the travel agent linked to the card but could also have used points to get Flight Centre vouchers. Similar cost either way but free travel insurance was included the way I did it - might have been free if I booked using the card also I think?

    Our card is free but we pay a professional package fee.