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Credit Cards

Discussion in 'Property Finance' started by smallbuyer, 13th Jul, 2015.

  1. smallbuyer

    smallbuyer Well-Known Member

    Joined:
    25th Jun, 2015
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    WA
    Got a few questions about credit cards (which is sort of property financeJ )

    If anyone has any info would be appreciated.

    - How do banks treat rental income, loan expenses with CC apps? With lots of rent income, interest expenses is this likely to be an issue? Do they discount rent, increase interest? I’ve never seen a CC calculator.

    - Do credit increase requests on existing cards usually show up on Credit report?

    - How many Citibank credit cards can one person have? Citibank (aka card services) is marketed under heaps of names eg most credit unions, Virgin, some banks etc

    - Any tips on the best card (high spend user) for earning frequent flyer points.


    Thanks a lot
     
  2. bobbyj

    bobbyj Well-Known Member

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    In regards to best card: So far I think St George Bank's Visa Signature card is decent
    $15,000 minimum.
    2 free qantas club access passes: I sell them on ebay for $60+ a pop. I get access anyway.
    2 Priority lounge free passes/year

    0.85 qantas points per dollar I think. They give you a 10% bonus on your yearly gains on your birthday.
    Essentially about 1 qantas point = $1 spent.
     
  3. smallbuyer

    smallbuyer Well-Known Member

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    Thanks for that, it doesn't look to bad but I had $1 = 1 qantas point on hsbc card with the free lounge passes as well but they just capped it at 2500 pts per month (then 0.5 pts) and removed the lounge passes. Pretty crap downgrade.
    Should be some decent 1 pt per $1 out their
     
    Last edited: 14th Jul, 2015
  4. Propagate

    Propagate Well-Known Member

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    Woolworths Qantas Card is great for points, 1 point per $1 plus another point for every $1 over $30 spent in Woolies (and partners), plus swap your petrol dockets for 1 point per 2 litres of fuel, and they normally have a 16,000 point sign up offer on.

    They print your everyday rewards bar code on the back of the credit card so you only need to scan one card for both points, then pay.

    We hammer our cards for our daily spending and pay off the full amount each month.

    Emma has already flown back to the UK (return) plus 2 lots of flights o NZ and we still have almost half a million points between us.

    We're not huge spenders, that's purely from clocking them up by using the card for everything we can, I reckon we've been using it for about 3 years?
     
  5. Propagate

    Propagate Well-Known Member

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    Oh, and every couple of weeks you get an offer of 500 to 1000 points for spending over $150+$200 (always varies) in Woolies. As we shop there anyway and a weekly shop is around the $200 mark we've racked up masses of free points. We have a card each, (not a main and 2nd card), that way we both got the sign up points. Also means if you shop for a few weeks in a row with one card, the other one will suddenly get heaps of great free point offers to get you back, then you swap and repeat.

    Considering in 6 years shopping at Coles with Flybuys we only ever managed to get an $80 slow cooker with "all" the points we accrued.
     
  6. smallbuyer

    smallbuyer Well-Known Member

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    thanks for that. Looks good for light/medium users but getting 0.5 points per dollar for spending over $2500 per month rules it out for me
     
  7. Propagate

    Propagate Well-Known Member

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    Interesting, that's new. It was always 1 point per $1 no cap, I'll have to check our T&C's see if they capped existing card holders too. I checked my Qantas balance this morning, the statement shows month amounts corresponding to my credit card direct debit, so currently we're still getting capless. Will have to keep an eye on that as it will make a big difference to our accrual rate if they start to cap it.
     
  8. radson

    radson Well-Known Member

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    http://www.pointhacks.com.au/

    As a general rule, Amex gives you most bang for you buck for points as long as you dont pay fees on use ie Woolies, Coles, BP etc. Good promo for 100k Velocity points at the moment. Another plus for amex is that their points are agnostic and can be used for 1:1 for QFF, Velocity KrisFlyer etc.
     
    Last edited: 14th Jul, 2015
  9. Propagate

    Propagate Well-Known Member

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    Well, the little monkeys! Just re-checked my statement and it has been dropping to 0.5 per $1 over 2.5k. Might have to start looking around.
     
  10. Propagate

    Propagate Well-Known Member

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  11. radson

    radson Well-Known Member

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    Amex Platinum Edge gives 3 points for Woolies, Coles. 2 points for BP etc, 1 point for most other things and 0.5 point for ATO payments but with surcharge on the ATO. How you redeem your points determines whether paying the ATO with Amex (the fee possibly tax deductible) is worth your while or not.

    Generally speaking, flight upgrades are the most economical use of points, buying stuff from airline stores, the least.
     
  12. mrdobalina

    mrdobalina Well-Known Member

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    Bankwest MasterCard World works well for me. 2.5 points per $1 spent. I generally get cashbacks or shopping vouchers, and works out to be about $1.25 cashback for $100 spent.

    It has unlimited points and no foreign exchange fees on international transactions (i.e. forex rate is the floating forex rate).
     
  13. smallbuyer

    smallbuyer Well-Known Member

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    they are sneaky always changing, putting in caps, making you have to use an amex card to get the same points etc. Amex not much use for me as 95% of the things i spend on you cant use Amex (or get a 3% surcharge!). Over the years ive had to change cards several times due to this, find a good card, a year or 2 later it gets downgraded :(
     
  14. Propagate

    Propagate Well-Known Member

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    I also have a Macquarie Platinum card that's part of a mortgage package, never use it, only have to have it for the discount it gives you on the mortgage rate. Just checked their website, looks like 1 Q pt for $1 spend with no cap, might start using that one.
     
  15. smallbuyer

    smallbuyer Well-Known Member

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    couldnt see the 'world'card on bankwests site. Maybe retired? 1 for 1 Q points with no extra fees sounds good to me. I would be using that.
     
  16. mrdobalina

    mrdobalina Well-Known Member

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    It's a 'invitation' only card. Get a More Platinum card, then request the upgrade. I stumbled across it in the t&c document for their More MasterCard cards.
     
  17. radson

    radson Well-Known Member

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    you may want to double check that..

    The card comes with 1:1 Qantas Points earn, and as a ‘World’ MasterCard, and the primary benefit of an upgrade to Starwood Preferred Guest gold status after one paid stay in Asia Pacific. One of the best benefits for me is the lack of overseas transaction fees too, like Bankwest’s regular Platinum MasterCard.

    http://www.pointhacks.com.au/bankwest-qantas-world-mastercard-guide/
     
  18. mrdobalina

    mrdobalina Well-Known Member

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    Bankwest offer two different World cards:
    - Bankwest More World MasterCard (the one I was referring to). Link to PDS:
    http://www.bankwest.com.au/library/pdf/PDS_20070628-144347.pdf
    - Bankwest Qantas World Mastercard
     
    Last edited: 14th Jul, 2015
  19. radson

    radson Well-Known Member

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    ah ok, I thought you were referring to Frequent Flyer points not Bankwest's own in-house 'points'
     
  20. albanga

    albanga Well-Known Member

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    Propagate I loved my woollies card but they recently switched from HSBC to Macquarie and since then it has not been so good. Customer service taken a dive and ofcourse the biggest killer the .5 over $2500. I am going to can my shortly as a result.

    It still has a low annual fee and they now give travel insurance but I never trust CC insurance so kind of useless.
    As you pointed out the deals are quiet good and help you boost your points.

    But points caps = fail