Which credit card ?

Discussion in 'Money Management & Banking' started by hillsguy, 8th Jan, 2018.

Join Australia's most dynamic and respected property investment community
  1. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    148
    Location:
    Sydney
    OK - looking for some help on credit card choice.

    We pay our monthly balance in full each month ... really looking for best card that will build up points for either flights or towards vouchers.

    Don't mind paying annual fee as long as there is a benefit.

    We currently using Visa Debit from ING. Since they removed the 2% rebate last year we now are looking to change.

    Appreciate any input as we work thru our choices.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    14,129
    Location:
    Sydney or NSW or Australia
    Does your homeloan come with a credit card?
     
  3. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    148
    Location:
    Sydney
    No home loan ... PPOR paid off ;-)
     
  4. Peppas

    Peppas Well-Known Member

    Joined:
    21st Dec, 2017
    Posts:
    127
    Location:
    Sydney
    You could cycle through the different points deals, particularly those with no first year annual fee, ie ANZ black (I think?) has a 75k Qantas points bonus with no annual fee on the first year. Cancel before the first year ends, or when you've had the bonus points paid out and move onto the next deal. Theres various websites that go through the different available deals... Anyways, just one way to build up points.
     
  5. Morgs

    Morgs Well-Known Member

    Joined:
    7th Dec, 2017
    Posts:
    370
    Location:
    Sydney NSW
    Depends on what sort of perks you are after (as an example which airline) and there are always deals floating around for new cardholders.

    We fly with Virgin frequently and use them for business class upgrades so this works well for us. Complimentary return domestic flight each year to offset the $375 fee (though you may be able to negotiate) and 60,000 velocity points on sign up (provided you hit minimum spend).

    Check out AMEX Platinum Velocity Card

    Also have as part of wealth package card Mastercard (CBA) for when AMEX isn't accepted.
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,525
    Location:
    Canberra, Brisbane and Sunshine Coast
    This is the card I have for business - no complaints and a decent promo.

    Had a couple of dodgy overseas transactions on it that were intercepted by their fraud team quite quickly too.

    Cheers

    Jamie
     
  7. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    4,087
    Location:
    Melbourne
    @hillsguy

    How much do you put through the cards a year?

    Also, on a relatively regular basis
    1. do you do any international travel?
    2. do you purchase things in foreign currencies?

    The Y-man
     
  8. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    148
    Location:
    Sydney
    International bus class upgrades would be priority 1 if we had a choice.

    We would put $7K - $9K per month on card.
     
  9. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    4,087
    Location:
    Melbourne
    Worth looking at Citi. The points you'll get with that spend will make pay for the fees as well as still get gift cards etc.

    As with many other cards, carries free international travel insurance etc + 2 x priority pass lounge visits p/a for main cardholder.

    The Y-man
     
  10. Wukong

    Wukong Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    410
    Location:
    NSW
    NAB has a promo of 100000 qantas points at the moment. Though, It caps out $1 to 1 point at 60k spend. The balance of spend we just use our CBA wealth package. CBA Amex is good when we travel, no charges for international spend.
     
  11. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    148
    Location:
    Sydney
    Challenge is always with Amex and 'sorry we do not accept Amex' line from merchants ...

    Thanks heaps for the input ... keep it coming.
     
  12. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    4,087
    Location:
    Melbourne
    After many years I have just come to a sad conclusion ~ I read the fine print...
    No points for the biggest spends of a property investor - RATES!! :eek:

    So far, it looks like this is the case for all Visa/MC?

    The Y-man
     
  13. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    6,635
    Location:
    Brisbane
    I've not heard this. I'm curious to know if this applies to Westpac?

    I'm going to go and read some fine print.
     
  14. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,818
    Location:
    Qld
    We always put our rates on the C.C. until the Council slapped on a CC surcharge that negated the points earned. Double whammy if you don’t get points.
    Marg
     
  15. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    6,635
    Location:
    Brisbane
    The surcharge is less than $5 per property (under $20 per year) so I still pay them on the card to give me more control and flexibility over our cashflow.
     
  16. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    4,087
    Location:
    Melbourne

    The altitude conditions say:
    4.4 When will you not earn points using an Altitude card issued by Westpac? While points are earned when you purchase goods and services, please note that points are not earned in respect of the following amounts that may be charged to your card account: • government charges (other than GST payable in connection with the purchase of goods or services on which you earn points)

    https://www.westpac.com.au/content/...credit-cards/Altitude_Rewards_Terms_and_1.pdf

    Check you points balance for a month where you paid rates.

    The Y-man
     
  17. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    6,635
    Location:
    Brisbane
    Well... you learn something every day. I'll still likely pay them using credit, depending on cashflow. Sometimes it is a bit of a juggling act.

    But I really did think I was earning points.

    I'm glad to have this answered without having to go back and check points balances because doing that could make my head explode. :D:p

    I used to get to a couple of hundred thousand points and buy vouchers for the family for Christmas. To be honest, it becomes a bit of a burden, having the voucher when you may not actually need anything.

    Lately, each time I get enough points I trade them for a $50 credit.
     
  18. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    4,087
    Location:
    Melbourne
    After all this, was going to ditch my high-fee CC, but in the process found out:
    1. paying half the advertised rate (special deal)
    2. I didn't realise how expensive travel insurance is!! - makes the annual fee worthwhile

    The Y-man
     
    wylie likes this.
  19. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    3,698
    Location:
    Melbourne
    I've never had to use travel insurance but many do say to read the fine print.
    Apparently credit card travel insurance is quite good for free. But it's not fully comprehensive
     
  20. radson

    radson Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    1,507
    Location:
    Upper Blue Mountains
    Its good for Coles, Woolies, BP etc. We use it extensively and have used the points for upgrades over 10 times with VA and SQ.