No annual fee credit card

Not really necessary to segregate cards, depending on how you use them
Tax Tip 12: Credit Cards and Tax Issues https://propertychat.com.au/community/threads/tax-tip-12-credit-cards-and-tax-issues.2614/

 

Yes, I read it again. To make things easier, I will just the Citibank Credit Card for investment purchases and not mix with other cards I have.

 

Yeah it's always good practice to tell your card provider you're travelling somewhere at a particular date. It's for fraud protection and to avoid embarrassment when your card is blocked because the bank thought someone is using your card in the wrong country.

And the Citi Plus debit card needs you to have funds to withdraw as it's an ATM card. The 28Deg MasterCard is for non-cash purchase.

Remember, if you shop overseas and they offer you "pay in AUD" using your card, refuse it! Tell them you want it in local currency (USD). Otherwise you will lose twice with the exchange rate buy-sell spreads - the AUD will be converted to USD first and then back to AUD when billed to you.

 

28 degree used to be the best CC when you travel oversea. However, they changed their cash out from ATM. It used to no fee when you cash out from ATM but those days you need to pay for the fee when you cash out money from ATM.

However, still the rate when you shopping online or go oversea pay by CC.

 

I am not sure "no annual fee" would make you Better off. It really depends on how you plan on using the card and the way it accumulates points.

A no annual fee card I could only imagine would have poor points accumulation with a likely monthly cap and other little benefits. Versus perhaps another card with a high annual fee but has much higher point earnings with no caps and other benefits.

I myself have a woolworths CC which admittedly recently went to Macquarie and is nowhere near as good but my annual fee I think is $120 but I earn 1 for 1 point on Visa which was unlimited but is now called at 3,500 and then goes to 2 to 1. It also includes travel insurance and very frequently woolies send me vouchers to shop and seeing I shop there I often utilise these.

So I usually travel with my wife once a year and the saving on the travel insurance alone almost pays the fee then I probably save another $200 a year with woolies vouchers and then ofcourse all the Qantas FF points I earn which when traded in is equivelant to around $800.

I have an ANZ break free and as part of that get the annual fee wiped and just need to pay the $55 a year rewards. I still choose not to and instead just had them give me a $0 card because there rewards is simply not as good.

 

I recently took a punt in searching for an interest free credit card to do improvements on a property before tax time....i found a special on cardfinder.com.au (pretty sure thats the website). It was a westpac credit card with 12 months Interest free ON PURCHASES and no annual fee and only had to make minimum repayments. spent about 8k and min repayments were less the $200 p/month. No i didn't have to transfer debt or anything - i thought there might have been a catch - but turned out there wasn't. I did a small reno, paid for everything on the credit card, then claimed everything at tax time, used the tax money to repay the card in full. It allowed me to do a reno in advance before tax time, without using my own funds. I still have 6 months left on the card. After doing it i think i could do it again if i wanted to make improvements on a property in advance and use either increase in equity, tax money, or increased rent money to repay the card. I found it as an awesome tool given such a long time to repay the card. I'm sure there will be other specials going around like this with other credit card lenders. food for thought