CBA Platinum 150,000 points pa

[kt]

Hi,
Received a letter today from CBA Plat, they are introducing a 150,000 pa points cap. starting 1/1/06. Not good. Are there are visa/mastercards out there taht have unlimited points pa or at least higher than 150,000???
Thanks
KT

 

[Sheriff]

Hi KT,

Yes, Woolworths Ezy Mastercard.

Sheriff

 

[one9]

i got this letter today too.

the letter started well .... "The annual fee on your Platinum card will decrease .."

but then it got worse and said that they are they are introducing a 150,000 pa points cap per calander year.

So, in January or February when I have earned the 150,000 points for 2006, what do I do?

My thinking is that the bank will also cap the points on their woolworths card soon too, especially as it is such a low card.

Any other cards (visa, mastercard) that offer unlimited points??

Now I don't know whether to keep the Platinum card. $200 for only $150,000 ponts doesnt give much value.

 

[kt]

thanks

thanks Sheriff and one9. I tried to look at ezy but their website appears to be down. I'll check tomorrow. But i think one9 is right in that it too will soon be capped.
KT

 

[one9]

ok, i found one card:
Australian National Credit Union Gold Mastercard.

it has no points limit. but it seems a little backward. like it can not be linked to a bank account. for rewards you download the rewards guide, and then post or fax the reward order form in ....

any one with a better card?

 

[Sheriff]

Hey one9,

Just because the CBA has capped the points on your platinum card doesn’t necessarily mean they will do the same to the Woolworths Ezy MasterCard any time soon.

Yes, you’re probably right, the CBA will eventually cap points on their Woolworths Ezy MasterCard, but until then, enjoy it while it lasts rather than worrying about it now.

I think eventually the majority of banks (if not all) will cap points on their credit cards, it’s the most economical and logical thing to do because it’s costing the banks to much money.

 

[one9]

Sheriff,

you are probably right. if woolworth card still has unlimited points in Jan/Feb next year, then I will get it. I like having a card linked to by commonwealth bank internet banking.

but a gold or platinum card is always nicer because of extras like travel insurance and purchase insurance.

 

[Mal]

I think they are feeling heat from the Amex CC plat.

The points cap brings it closer to what the Amex CC offers. The $200 at about 1/2 the price of the Amex plat would probably equal what people would pay if they didn't get the free flight.

Clever marketing. Pity it doesn't benefit those who spend a lot on their card.

 

[Sheriff]

one9,

Woolworths EzyMasterCard has travel accident insurance, too .The cardholder is automatically insured against loss in the amount of $125,000 when travel tickets are purchased with a Woolworths EzyMasterCard, subject to the terms and conditions of the travel accident insurance policy. The certificate of insurance, full details of coverage, schedule of benefits and exclusions are defined in the card’s conditions of use booklet.

Regards,
Sheriff

 

[ronone69]

The Citibank Visa allows you to earn unlimted points.

Their website however is hopeless as you cannot schedule future payments and their customer services ain't crash hot either. (Citibank is a bank - what else would you expect ?)

No doubt the best is Amex. Their Platinum Credit and Gold Credit Cards give you 1.5 points for every $1 spent. There are some limits. For the first $150,000 spent in a year, you earn 1.5 points for every $1 spent - after that it is 1 point for every $1. Same applies with their business platimum charge card except the limit is $250,000. Their charge cards give you 1 point fpr every $1 spent. No total point limits on any of these.

Does anyone know about Westpac's Altitude Program (Visa and Mastercard I think) ? I thought this had unlimted points too ??? :?:

 

[JohnK]

No doubt the best is Amex. Their Platinum Credit and Gold Credit Cards give you 1.5 points for every $1 spent. There are some limits. For the first $150,000 spent in a year, you earn 1.5 points for every $1 spent - after that it is 1 point for every $1. Same applies with their business platimum charge card except the limit is $250,000. Their charge cards give you 1 point fpr every $1 spent. No total point limits on any of these.

If you don't have business how the hell could you rack up more than $12,000/month.

I have a gold amex, pay $59/pa for ascent, and if I spend more than $9000/pa I get the yearly fee waived. I just manage to squeeze this in every year. I get 1 for 1 rewards with Qantas for the money I spend every year.

 

[one9]

The Citibank Visa allows you to earn unlimted points.

The Citibank Platinum card has a points cap at 120,000 points per year. It is not listed on their website (or not anywhere obvious - even in the small print) or promotional material, which seems very misleading to me.

If you don't have business how the hell could you rack up more than $12,000/month.

I think you will find most people here with high spending on their card (>200,000 per year) are using their card for business spending. Usually as a director or as a small business owner.

 

[ronone69]

Johnk:
We use the cards for business and pleasure but certainly as the owner of a small business, we pay business expenses with the cards and that helps us to earn points

one9:
Readng the Citibank Terms and Conditions it says

Citibank may choose to limit the rewards points.....

Do they choose to do so ? Has anyone experieinced this ?

In any case, I think I need to update my Citibank Gold to a Citibank Platinum

 

[JohnK]

Johnk:
We use the cards for business and pleasure but certainly as the owner of a small business, we pay business expenses with the cards and that helps us to earn points

I think you will find most people here with high spending on their card (>200,000 per year) are using their card for business spending. Usually as a director or as a small business owner.

That is a lot of points.

Good luck to you all. Hope that your businesses are always profitable.

 

[one9]

one9:
Readng the Citibank Terms and Conditions it says

Citibank may choose to limit the rewards points.....

Do they choose to do so ? Has anyone experieinced this ?

I was going to get the Citibank Platinum card and when I called them to ask if there was any points capping, they looked it up and said yes, at 120,000. they also told me the caps for the gold and normal cards, which were less.

So citibank is no good for points earning. and i dont like the way they don't openly disclose this. I have a bit invested with Citibank, but I don't really trust them.

 

[kt]

Does anyone know about Westpac's Altitude Program (Visa and Mastercard I think) ? I thought this had unlimted points too ??? :?:

Westpac migrated most 'buisness' altitude customers (ie anyone that spends big dollars) onto a different card earlier this year. I expect that capping/extra fees is only a matter of time.
KT

 

[Jim]

Cards

I have just about every FF card around. Here's how I rate some:

***** (5 stars, best FF card)
Amex Gold Maximiser Credit Card. No cap 1.5=1FF $144 P.A

***
CBA Platinum 150K cap. 1=1FF $200 P.A.

**
Citibank Platinum 120K cap. 1=1FF $250 P.A.
Citibank Gold 60K cap. 1=1FF $119 P.A.

*
Westpac Gold Altitude 2=1FF, 1st year free then $150 P.A.

 

[Jim]

Re: Cards

***** (5 stars, best FF card)
Amex Gold Maximiser Credit Card. No cap 1.5=1FF $144 P.A

Sorry, I should have said $1 spend=1.5 Amex points=1.5FF. Amex Gold Maximiser Credit Card is the best FF card.

 

[dajop]

Re: Cards

I have just about every FF card around. Here's how I rate some:
*
Westpac Gold Altitude 2=1FF, 1st year free then $150 P.A.

Not strictly accurate. No cap, but for $150 PA u get an Altitude Amex - which means for 95% of the spend $1=1FF (on Amex). For the Visa spend u get $2=1FF pt.

It is also good for NZ airpoints (.. on Amex $80=$1Airpoint) for those after a bit of flexibility in their rewards program (and don't necessarily want or need to be tied to QF).

 

[Jim]

Re: Cards

I didn't want to confuse the issue with the Altitude AMEX issue at $1 spend = 2 Altitude points = 1 FF. I get 1.5 FF per $1 spend using my AMEX maximiser with no cap so the Westpac AMEX isn't an option.

I use AMEX for less the 50% of my purchases so the Visa / Mastercard is more important to me. In real terms Altitude gives only 1/2 the FF points as CBA Platinum.

As far a FF programs AirNZ was a good program but now I rate it as the worst FF program. No wonder AMEX dropped them.

I have just about every FF card around. Here's how I rate some:
*
Westpac Gold Altitude 2=1FF, 1st year free then $150 P.A.

Not strictly accurate. No cap, but for $150 PA u get an Altitude Amex - which means for 95% of the spend $1=1FF (on Amex). For the Visa spend u get $2=1FF pt.

It is also good for NZ airpoints (.. on Amex $80=$1Airpoint) for those after a bit of flexibility in their rewards program (and don't necessarily want or need to be tied to QF).