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Credit Cards Again

Discussion in 'Living Room' started by MTR, 29th Jan, 2016.

  1. MTR

    MTR Well-Known Member Premium Member

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    We have the Virgin Platinum card, but we are about to give it the flick. Originally we signed up because with every flight in Australia with Virgin you get one free (allowed 4 pa), however there are additional costs involved with this, pays to read the fine print, we did not...:(

    Even worse... their service/no service, their on line statements don't include vital information, apparently they are still working on this.

    Anyway back to credit cards.

    Can anyone recommend a credit card with benefits that make may be worth looking at.

    Thanks

    MTR:)
     
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  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    For me - the ANZ FF black card represented good value. You get a decent points to dollar spend ratio and 75k points for signing up. I use it exclusively for business purposes and surprised at how many points I've already accumulated.

    There is an annual fee - which is waived for the first year.

    ANZ Frequent Flyer Black | ANZ

    Cheers

    Jamie
     
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  3. wylie

    wylie Moderator Staff Member

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    Black Altitude gives good value rewards for us. Details are in the other thread running now. I cannot link as I'm on iPhone and it is too fiddly to do so.
     
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  4. MTR

    MTR Well-Known Member Premium Member

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    Thanks I will check it out today.

    MTR:)
     
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  5. kamchatsky

    kamchatsky Well-Known Member

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    Given you have previously used Virgin flyer (or high flyer) card, obviously you are collecting Velocity points.

    So if you want to continue collect Velocity points, I would say the following cards are worth considering:

    - Velocity American Express Platinum card (via referral only): 80000 points + free domestic flight ticket (FANTASTIC VALUE if you live in Perth!) + 2 lounge passes + travel insurance. Annual fee is $349.

    - ANZ Rewards Black (Visa + Amex): 75000 ANZ Rewards points (or 37500 Velocity points) + 2 lounge passes + travel insurance. First year annual fee free.

    - Westpac Altitude Black (Visa + Amex): No annual fee first year for existing Westpac customers only but NO bonus points though. You would have to wait until new promo from Westpac comes out.

    If you are collecting Qantas FF points, then there are multitudes of card offers ......
     
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  6. Bran

    Bran Well-Known Member

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    I didn't know about this one. I don't make the most use of my platinum, any idea how this is better/different?
     
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  7. MTR

    MTR Well-Known Member Premium Member

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    Thanks that is very helpful.
     
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    May need to transfer this post to 1st world problems.
     
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  9. Bran

    Bran Well-Known Member

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    Can I hijack this? How do I get a limitless credit card without skewering my serviceability.
    Amex Black is without limit, and a 'charge card' - how does this effect things? (Plus it's expensive and invite only)
    Any ideas how to pay six figure bills to get the points?

    Edit: and no @JDP, I'm not buying (another) helicopter
     
  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Not sure - usually lenders have a basic, plat and then something above that.

    Might earn slightly less points per dollar? ANZ prob have a compare function on their website

    Cheers

    Jamie
     
  11. melbournian

    melbournian Well-Known Member

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    U can request for the Amex platinum and then tell them u want to purchase X amount prior to the purchase. U can pay a lot using a card council rates, utilities bills. I paid my builder using my credit card by purchasing his supplies etc for a couple of builds. did a few payments on behalf of relative would wanted to migrate and made payments of 70k to dept of immigration and also school fees for a couple of cousins to the range of 100k per year.

    I think u are talking about Amex centurion which Has not limit u need like liquid funds of 10 mil and expenditure of at least 100k per year. I know couple of frens who have this. U basically get free flights 1st and lots of upgrades and insurance coverage.
     
  12. mrdobalina

    mrdobalina Well-Known Member

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    What do you mean by limitless? Spend or points?

    I find it is sometimes worthwhile to pay large bills on credit cards even if they charge credit card transaction fees. You generally receive 1% conversion rate for spend to cash rewards, plus the x days interest free... Whilst the vendor might charge 0.5% transaction cost.
     
  13. BigKahuna

    BigKahuna Well-Known Member

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    I always get a no-frills credit card with zero yearly fee. They're all a big rip-off. Just my opinion.
     
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  14. wylie

    wylie Moderator Staff Member

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    I've just saved $2,500 off our travel by trading the points on my card. I don't think they are a rip-off.
     
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  15. BigKahuna

    BigKahuna Well-Known Member

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    Wow, that's great. Yes, if you do a lot of shopping with credit cards, I'm sure there are some positives with some of them.
     
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  16. kamchatsky

    kamchatsky Well-Known Member

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    I got a full-frills credit card (Citibank Signature Visa) with zero yearly fee forever. It is still a fantastic card for me, even with the recent devaluation. I have got tens of thousand dollars of travel just with this card.

    And no, there was no discount as a Citibank home loan or Citigold holder. It was a special offer a while back. I haven't paid a single cent of interest either.

    There are great rewards cards around. You just need to know where to look. It is out there.
     
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  17. kamchatsky

    kamchatsky Well-Known Member

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    You can apply a Amex Platinum Charge card without invitation. There is no limits on spend either. Right now there is 120000 Amex Membership Points bonus via referral only (let me know if you are interested). Those bonus points a very valuable as it can be sent to 10 different airlines programs + 3 hotel programs.

    If you are talking about Amex Centurion (or the Black card), then yes you would need an invitation from Amex for this. But first you would need to spend a lot of money on existing Amex charge card (e.g. Platinum Charge), then Amex see you as super high spender, and then they invite you to join Centurion. But if you just want a card without spending limit, the Amex Platinum Charge card is enough for you.

    The only thing I don't know is how it actually impact serviceability, as it is not a credit card (you are supposed to pay it off end of each cycle). So I have no idea whether you would get hit with a credit check at all.
     
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  18. Bran

    Bran Well-Known Member

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    Great!! Are there any downsides that anyone knows of?
    Ill have to enquire with my broker its effect on serviceability, does anyone else know? I'd reduce my existing platinum limit in its place.
    Even with the Amex black, my friend still got a phone call when he plonked $150,000 on it...
    "Mr X, we know there is no limit on your card, but are you planning on spending much more this month?"
     
  19. THX

    THX Well-Known Member

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    Can any of the very smart brokers here answer about the impact on serviceability for some of these cards?
     
    Last edited: 31st Jan, 2016
  20. THX

    THX Well-Known Member

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    Do you know what airport lounges it actually gives access too? I read somewhere that those in Australia and the Americas (where I travel mostly) do not participate?