Credit Card reward points

B

bawley

Are you happy with your credit card rewards - I've become pretty disenchanted with Commawards (CBA reward program), they have reduced the value of points by 50%(ish).

Used to be that $10,000 purchases would "earn" $100 David Jones voucher. now $15,200 :mad: purchases "earns" $100 voucher.

Also need to have platinum card ($300 per year) or points are capped.

We don't pay any interest on purchases - paid out each month. So interest rate is not relevant. I only like rewards that equate with money, not interested in doodads.

So does anybody have rewards that work for them?

Thanks Bawley
 
I ditched the ANZ Qantas VISA Card for the same reason a couple of years ago - points capping.

Because I travel a lot - I do actually get benefit out of FF miles ... so I usually make sure I collect Qantas FF points.

My current card is an Amex Gold Charge card (not credit card). With the Amex credit card I believe you get 1.5 FF points per dollar spent - but I didn't want a credit card ... so I only get 1:1 on the charge card.
 
I'm on the lookout for a new credit card also. I sound the same as you Bawley. I have a Combank Gold Visa, but I'm going to scrap it.

Any recommendations? I'm not sure if I want Amex, I don't think they're accepted at as many places.

So basically I'm after a visa card with the best rewards program, at a decent price.
 
I carry an Amex and a cheap BankWest VISA card that came with one of my loans as a backup. I probably put only 3-4 transactions a month on the VISA compared to the dozens that go onto the Amex card.
 
Sim said:
I carry an Amex and a cheap BankWest VISA card that came with one of my loans as a backup. I probably put only 3-4 transactions a month on the VISA compared to the dozens that go onto the Amex card.
Click to expand...


Amex Charge Card - what are the benefits as you see them Sim? What do you do with your points?

Thanks
Bawley
 
Benefits ?

Well, it's not a credit card so doesn't affect my servicability.
Amex have very good customer service.
I've had problems with my card while overseas, and they replaced it within 24 hours and I collected it from their office OS.
It pays 1:1 points, plus bonus points
Gold Amex cards also include some other benefits (travel insurance etc) - but I don't use them much.

I use my points for free flights and for upgrades (if I have to travel economy class long-haul, I upgrade myself to business class using points).
 
We have just swapped to ANZ Gold Visa. It earns point for point for the first $2500. We each have one and the statement dates are different so when one reaches $2500 I use the other one. I also use Diners where possible and earn point for point. Only trouble with Diners I can't pay the rates or insurance on it.

Cheers.

CK
 
I just use the NAB & Flybuys. There are probably better options out there, but I just can't be bothered. I get something free out of it each year, so it is worthwhile.
 
Like Sim I use a gold amex charge card and put just about every charge on it.
The advantages as I see them are;

There is no pre set spending limit. But they do check to ensure your spending pattern is not too unusual. This is great if I am travelling on business and racking up 10K in expenses I'm not concerned about credit limits.

Auto payments each month so no need to worry about payments on time.

good loyalty program where points can be tarnsferred to FF account.

When purchasing air fares with the card have a host of comprehensive travel insurances.

And very quick turn around for lost or stolen card

good website

Expensive at $130 per year annual fee, but worth it for me.

Cheers,
 
I also dumped my ANZ card when they brought in points capping. I changed to the Westpac Altitude cards - a MasterCard and AMEX linked to the same account. I use the AMEX wherever it is accepted as it earns double the points of the MasterCard and use the the MasterCard for all other purchases. The points never expire and are not capped. I have found the bank quite good to deal with and I exchange my points for Coles Myer vouchers. I am not into free doodads either. :)

Take a look at the details here.
 
Like Sim we started with ANZ until the changed the goal posts. Now with CBA which are meant to be fee free beong wealth package but when ever a fee appears it is mostly "soory, THAT fee is not covered by the package"

So we are going to go with the KISS principle.

Members Equity Bank (a relatively new player) has interest free with no charges at all if you spend $7500 ayear or more. If not it is $30.

The biggest killer for us running a Small Business is the new CBA netbank fees. CBA has recently advised that we pay 50c for all but 3 per month of our payments to other accounts!! :eek:

I predict CBA is next inline after NAB, ANZ in losing a lot of business in the near future.

On that matter of points what do you think is the best thing to do with them? We have 300k plus and no real desire to travel. Dont have the time and baby on the way, etc..

Peter 147
 
Use of points

Hi Peter, though I can't give too much advice on how to use them, the philosophy we use for our FF and Amex points is to USE them or LOSE them, (for want of a better expression). I'd hate to get to 500K and find the rules have been changed with more expensive rewards, caps on use, tax changes, and any other number of ways they can be changed. We use up chunks of between 50-150K as the points are accumulated for free hotel accomdations and air fares and will never get to a point where we have over accumulated.

If you feel inclined, many loyalty programs have charity give aways as an option. Hopefully one day I will make use of this option also..... :eek:
 
We have a fee free AMEX with points, but found we couldn't use it for where most of our spending was - rates, water, gas, power etc etc.

We now have a CITI VISA.

Still keep the AMEX for back up, and put the occasional spend thru (needed to keep fee free status).

Just recently got a Virgin MC as well.

Toying with the idea of not paying off some of the charges and taking advantage of some of the low interest balance transfers.

Cheers,

The Y-man
 
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