I have got lots of credit cards and have started my own personal matrix, I guess that's not for everyone, but that's my sort of thing and its not as if i need to look at it more than once very few months.We have to find a card to pay land tax, shire rates and water rates after the middle of June. I cleared out the warehouse a few days ago.
Prestige member- just got email today- advice please- transfer points to krisflyer OR velocity? Have almost 1 million in citi- time to get them out- Conflicting advice out there and mostly from overseas...
In situations like this its important to see rewards (and the ability to redeem those rewards) as a privilege and not a right. The other option is to pay market value for the ticket that you want.
None of these card products guarantee that you will get what you want when you want it nor do they guarantee the value (current or future) of the rewards points.
Once you accept that points earning on scheme cards is finished things will get easier.
Use an AMEX or a Diners instead.
AMEX and Diners are the true travel and entertainment card products due to their enhanced spend data, analytics and control. Visa and Mastercard cannot compete on this footing.
Huh? For consumers and merchants, Amex and Diners are exactly the same, over engineered franken-products that are just payments mechanism with an unsecured debt facility hanging off the back of it with even more insane fees than Visa and MC charge.
Well considered answer Nutcase, but working on the assumption that the bulk of the 0.8% Visa/MC interchange fee is to provide the consumer bells and whistles:
- 0.6-0.7% of the roughly 2.0% Amex/Diners merchant fee is used to provide the same bells and whistles?
- is the +1.0% remaining really justified for these backoffice services?
- If it genuinely is, then that is a benefit to the employer issuing the card to their employees, which the employer should be paying, not a cost which the merchant should be funding?
With most payments being digital now, shouldn't you do away with rewards, the interchange fee be a sliver of a %, and if you want the benefit of these back office benefits you the cardholder pay that extra rather than it being imposed on the merchant?
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With operations in 17 Asia Pacific countries, and retail banking in some 14 of them its highly unlikely that Citibank Australia will close down its retail operations. And in Australia they are certainly not just maintaining a token service. As far as credit cards go they have a substantial card business in their own right. The white labelling will continue side by side with their own cards. Doubt Coles would have entered a 10 year contract with them without assurance of their commitment to retail banking in Australia.