Advice on new credit card

[showstopper]

Hi all,

New to the forum, and looking for advice. Been trawling through treads for a while - great info on here.

While I've used a CC for years, i've never utilised a rewards program. I want a card/s that provide me with QFF points.

I will have a yearly spend of 50-60k. I always pay off the card on time (so interest rate is irrelevant), and i primarily want to earn points for business class upgrades on international travel and for domestic travel. Included travel insurance is welcomed.

I am leaning towards the following setup:
Some sort of AMEX card that gives me 1.25:1 points (maybe Qantas AMEX Premium)
Woolies EDR for non-AMEX purchases for 1:1 points

Although i'm looking at 249 + 89 = $338 in annual fees! Are the fees justifiable in my situation?

What would you recommend for me? Still not sure if im on the right track with this!

 

[prozac]

Showstopper, you say you have $50-60k of spend a year. To better help you can you say where most of your spend goes?

 

[showstopper]

Showstopper, you say you have $50-60k of spend a year. To better help you can you say where most of your spend goes?

Approx. as follows:
30k rent
3k utilities
3k petrol
3k car rego/ins/tolls
5k groceries
2k gym/health ins
4k holidays
10k everyday spending

 

[prozac]

Approx. as follows:
30k rent
3k utilities
3k petrol
3k car rego/ins/tolls
5k groceries
2k gym/health ins
4k holidays
10k everyday spending

Using an Amex Platinum Edge card will get you 3 points for supermarket spend and 2 points on petrol purchases. You'll get 1 point for everything else but only 0.5 points for utilities. So you'll get;
30k rent ........ unsure, probably not possible to pay using a card.
3k utilities ........ 3k x 0.5 = 1,500 points
3k petrol ........ 3 x 2 = 6,000 points
3k car rego/ins/tolls 3 x 1 = 3,000 points
5k groceries (supermarket?) Then 5k x 3 = 15,000 points
2k gym/health ins ...maybe ... 2k x 1 = 2,000 points
4k holidays again maybe . 4k x 1 = 4,000 points. If booking via Hotelclub link on amex site then is 10 points per dollar spend.
10k everyday spending ..... some of this at 1 point per dollar

Amex sends targeted bonuses too and then there is the partner bonuses advertised on the Amex site that allows bonus points.

I recently particpated in a Rebel Sport deal, spend $50 and get $25 credited to your Amex account. Last week was spend $80 at Dan Murhpy and get a $25 voucher. Past deals have included BP bonus 5 points meaning you earn 7 points per petrol dollar.

I pay for my air travel on Amex also. BTW the Platinum Edge card provides a free Virgin flight each year. That must be worth the annual fee of $149.

Amex give a 10k bonus for joining or 15k if another member refers you.

Points go into your Amex account and you can allocate them to whichever frequent flyer program you wish when you are ready to book a ticket.

 

[prozac]

I should mention that you should get yourself a free bank mastercard or Visa for those places where Amex is not accepted.

 

[Mattyana2003]

The best cc for groceries and petrol is DJ Amex 2.25 QFF points per $1, if you shop at Woolies get an everyday rewards (not the cc) and swipe that too and you'll end up getting 3.25 points and cheap Caltex petrol too. Your rent can be paid by cc here if your agent is on the list and you can make points on your rent

http://rentalrewards.com.au/

or
https://www.rentpay.com.au/

 

[Plutonus]

Amex Platinum Edge

Only problem is can't transfer the points to QFF from this card.

As a side, where was the Dan Murphy's deal?! Was it emailed? I totally missed that one.

 

[prozac]

That's true Plutonis and Qantas should not be your sole aim in points accumulation, far from it. Perhaps showstopper should read this - American Express Membership Rewards Scheme in Australia – the card range; bonus & transfer partners; and is Membership Rewards for you? | Point Hacks

Plutonis, the Dan Murhpy offer must have been targeted. I received an email. I bought 2 bottle of Talisker Single Malt for about $58 ea, a bargain in itself. Then to have a voucher for a further $25...pure gold.

p.s. Mattyanis, FWIW I reckon I would rather earn 3 points per $ on Plat Edge on groceries than DJ Amex 2.25 QFF points per $1. Go figure???

 

[DeKa]

Can't believe no one has mentioned WW EDR MasterCard. Uncapped 1 QF point per dollar, and 20000 points if you sign up before Sunday. $89 annual fee.

 

[prozac]

...........I am leaning towards the following setup:
Some sort of AMEX card that gives me 1.25:1 points (maybe Qantas AMEX Premium)
Woolies EDR for non-AMEX purchases for 1:1 points

Although i'm looking at 249 + 89 = $338 in annual fees! Are the fees justifiable in my situation?

What would you recommend for me? Still not sure if im on the right track with this!

DeKa, Showstopper actually mentioned the WW EDR Mastercard as his top-up card. The Plat Edge option means he wil only spend $238 instead of $338 and will earn 3 points/$ at supermarkets. Just needs to work out if he needs the $89 Mastercard or a free bank Visa or Mastercard with half the earn. He can sill have the EDR card for supermarket free earn.

 

[Mattyana2003]

Do you mean you can't transfer from DJ Amex to QFF? If so I think you can earn in Amex MR and opt to have your points to go to QFF at 1 MR to .75 QFF.

 

[showstopper]

Thanks for all the feedback.

I've decided to go with a DJ Amex and WOW EDR M/C (combined with standard EDR non-CC). Primarily due to my desire to collect QFF points exclusively. Signed up for all cards today.

This works out to earning approx. 48k QFF points a year, based on the following:

3.25 points on groceries (using DJ Amex plus WOW EDR non-CC)
2.25 points on petrol (using DJ Amex)
1 point for other purchases (using WOW EDR M/C)

With annual fees of $99 + $89. I will 'attempt' to get these waived in the future...

Will also received bonus points of 22,500 (DJ Amex) and 20,000 (WOW EDR).

Also got free QFF membership with the WOW card.

From here i guess i'll just keep an eye out for bonus offers, and any no-fee cards offering decent bonus points...

 

[prozac]

Thank you for responding SS to let us know how you went. The DJ's card sounds like a winner, I might have to look at that myself. Even the EDR card had points attached. Well done.

 

[Mattyana2003]

If you want some free points also apply for Amex discovery, you can get 5000 point signing bonus and no annual fee. 5000 point for doing nothing but a cc application!

 

[Craigie]

Pretty sure that'll affect your credit history should your application be unsuccessful. Something to note.