Credit Card Rewards Schemes

this is most likely a silly question but.. can you direct debit from a credit card account? :S

also if i take out a 4k minimum c card. how much does that take off my borrowing capacity?

4kx5?

 

what do you mean by pay tax on them? if they're via points doesn't that mean they're free? :S

 

You can have things like monthly insurance, monthly phone, utilities etc all done direct.

You can;t pay and loan repayments with card, or use a card to pay another card, unless you draw cash which is a no no, large fees and no points, also BPAY from card is no points.

Ask broker about borrowing capacity changes.

 

interesting, What do you mean by drawing cash is a no no?

 

unfortuantely not, these points fair come with a fuel surcharge.

my trip from AUS to EU was $1100!!!

 

drawing cash means you pay interest on it from day 1 plus you get charged a fee plus you dont earn any points,

cash advances are for desperate situation/people only

 

Cash out of a credit card brings lots of extra fees, check the card providers info on getting out cash. No points for any cash out either.

 

i see, does anyone use there credit cards for investment expenses? etc atm i have all my expense coming from 1 offset account for my properties for tax purposes. i feel like it would be good to pay expenses via credit card but then it'd get messy for tax reasons. etc renos, rates, water (ip that i self manage). general costs.

 

no tax problems, your running costs are just that, it does not matter how you pay your bills, they are your bills, you could do the same think from a dedicated card account.

Don't try and claim the interest and card costs unless the card is purely for the IP/s, this is when you will have a problem

 

Can i have it so i have 1 credit card used for personal expenses coming from personal offset account non deductible. and another credit card linked to my deductible property offset account which all my property bills are paid from? but then some how have the 2 cards on one account so all the points earned will be in 1 pile / account? :S

sorry for all the beginners questions, first week of learning about credit cards

 

I am no expert, I have just read what each one offers and compared them over the years.

If you have 2 cards from the one brand, they are usually the one account I would say.

but if you choose say one of the air travel point systems, the actual points are run by systems related to the airline, so lets say you have qantas or virgin you could have 2 cards or 6 cards that get points that go to the related system, so if say

anz qantas card you spend 5oo worth of points

cba qantas card you spend 500 worth of points

in your qantas points account you would have 1000 points

I have nor read any limitations on this, so you could have one for personal, one for your IP related spend which keeps the accounts separate, you just need to read a lot and ask each one lot's of questions.