Comparison: The best points earning Visa/Mastercards

Discussion in 'Commonwealth Bank Rewards' started by one9, Aug 10, 2006.

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  1. one9

    one9 Active Member

    Sep 14, 2005
    #1 one9, Aug 10, 2006
    Last edited: Aug 10, 2006
    With the death of the Woolworths Ezy Mastercard (the best points earning Visa/Mastercard), I have decided to list the options available below to help make it easy to decide which card to change to. If I have missed a card, or if you have advice to add, just reply to the thread).

    Cards offering 1 for 1 points (with no points capping)

    Cards offering 1 for 1 points (BUT with points capping)
    ANZ Frequent Flyer (1:1 for $2500 per month, then 2:1)
    Citibank Silver (1:1 with 40,000 annual points cap. Many people have reported that the points cap is not enforced, but some people have reported it has been enforced for them.)
    Commonwealth Bank Platinum card (1:1 with 150,000 annual points cap)

    Cards offering 3 for 2 QFF points (BUT with points capping)
    NAB Gold Rewards Card (3:2 for $3000 per month, then 3:1 up to $10,000 per month)

    Cards offering 2 for 1 QFF points (with NO points capping)
    Westpac Altitude Platinum
    Earth Mastercard (1:1 but only till Nov 30. Then reverts to 2:1)

    My personal recommedations:

    (a) It depends on how much you spend.
    - If you spend less than $30,000 a year, then you can go for any of the cards in the 1:1 section.
    - If you spend between $30,000 - $150,000 a year, I would recommend the CBA Platinum card.
    - If you spend > $150,000 a year, I think it depends on your risk level. The Citibank card may be the best option. It seems the Citibank points capping is not enforced for new card holders; but it could be enforced on you at any time. So you need to be ready to change cards and be ready to lose one months worth of points. You would be wise to transfer your points each month. If you prefer more safety (and if you spend > $300,000 per year), the best options would be either the Earth or Westpac Platinum cards. You are only earning half the amount of points, but you can spend as much as you want and still earn points.

    (b) What to do with your Ezy Mastercard
    - The Ezy Mastercard changes to a CBA Mastercard. Whilst many people are saying to cancel it, I would suggest keeping it. If you don't want to keep it, consider changing it to a different CBA card (eg. CBA Platinum card). Providing you are not applying for a credit card or loan product with the CBA, when you apply at a different bank, the new bank does not know whether or not you still have the CBA card (unless you tell them). Credit files are only updated when you apply for credit products, not when you cancel them. Paying the small annual fee for the standard Mastercard is often worth it to keep the credit, especially if the CBA brings out a better product in the future, which you could then easily change to, or if you want to change it to a personal loan in the future.

    UPDATE: It seems there may be less well known cards out there issued by smaller financial institutions which may be better. If you find one, let us all know. I am currently looking into the Credit Union Australia Mastercard which appears it may have 1:1 and no points capping. I am not quite sure. The ugly looking card is available at: Credit Union Australia: Australia's Friendliest Banking - CUA MasterCard

  2. kyle

    kyle Active Member

    Mar 8, 2006
    May I add my $0.02.

    I think CB's discretionary points capping is far too risky.

    Also, the annual fee/program fee is an important consideration.
  3. bertoman

    bertoman Junior Member

    May 16, 2005
    Little known cards....

    Just a quick word on the CUA mastercard and others ....

    This card is still a sh!tibank card in disguise .....

    just like Wide Bay , IMB, Mckay Building society and Maitland Mutual.....

    My brother has a Maitland Mutual Card, and he has shown me all the paperwork he recieved, I cant find anywhere that mentions points capping.

    He has had it for over two years , spent way over $40k a year , no capping.

    Maitland Mutual has been around since christ was a kid, maybe worth a call ?


  4. PaulZ

    PaulZ Member

    Jan 11, 2005
    If you bank with St George or Bank SA and are a very large customer, you may qualify for their Private Bank Platinum Visa Card.

    You are supposed to have at least $1million in business with the bank, whether that be via deposits and/or loans.

    However, if you have a really good relationship with your banker, he may be able to do something for you.

    They advertise that it is the rarest credit card in Australia.

    It has an annual fee of $225.00.

    A great feature for me is that it allows me to have 3 supplementary cards, for my wife and sons.

    It has a 1pt per $1 spent, which converts 1pt to 1QF. Their terms and conditions list no maximum, nor do they mention business expenses. From experience if you are a good enough customer, they couldnt care less how many points you put through. A business colleague however was limited at $3million points for the year.

    Of course it has all the insurance, purchase protection etc that you expect from a platinum card.

    St.George Privatebank
  5. QFTravel

    QFTravel Intern

    Nov 3, 2004
    Great thread. Update in above for annual fees which to some is also important in comparison of which card to change to.
  6. armanie

    armanie Junior Member

    Apr 29, 2006

    Thanks for the useful information.

    I've decided to take the plunge and swap my Citibank Platinum for the CBA Platinum.

    I've realised been sucked in for too long!! Grrr!!

    CBA has a higher points cap (150K vs 120K) and lower annual fee ($200 vs $250).

    However, does any one know how much a CBA Platinum supp card costs?


  7. Chicken

    Chicken Active Member

    May 9, 2006
    Read your CB T&C. It says "MAY".

    As long as you keep your heads down, don't call them too often and demand too much, they should not cap your points.

    I've been earning 200 000 points per year on my silver card :D , I just had to put up with their crap :idea: CBA has better service I'm sure
  8. armanie

    armanie Junior Member

    Apr 29, 2006

    I wish it were that simple.

    Unfortunately, there is no "MAY" for me...they've capped my points already!!
    They started capping it one or two years ago. I guess my spending must have flagged something in the system. :(

    Also last month, I asked them to fax me a copy of my statement and they wanted to charge me $8.00. This was the first time I've ever asked for it.
    What the?!!?

    With my spend and annual fee of $250, surely they could waive the fee this time?! But nope, it was $8.00.

    I hope CBA approves me so I can dump Citibank.

  9. simple

    simple Newbie

    Aug 17, 2006
    Yes, I just received notification of the end of EzyBanking... how sad. So I did I heap of searching / comparing. Was thinking about the Amex Rewards Maximiser (1.5 points per $1) as they waive the annual fee ($192) in the first year. But as Amex isn't universally accepted, I explored some more. The Earth card includes 1 Amex and 1 Mastercard on the one account. Anyone have any experience with Earth?
  10. scibo10

    scibo10 Member

    Jan 19, 2005
    I too was sad to hear about the demise of the EzyMastercard.
    I subsequently did my research to find out the best possible replacement.
    I feel that the Citibank Silver card is the best card, if it used as a compliment to another card (such as an AMEX). 1:1, and an annual rate of $69 is relatively good compared to other 1:1 cards, which have annual fees of $100+. $40,000pa cap is unfortunate, however this equates to $3333 per month, which is still better than the ANZ Frequent Flyer card and even their Gold card for that matter. The CBA platinum card is in the order of $200+ from memory.
    I think we have to all accept there won't be another EzyBanking type card again:( ...
  11. beardoc

    beardoc Established Member

    Jul 13, 2005
    Sydney, NSW
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    So far I can work out that the CUA Mastercard is part of a bigger Credit Union "MyCard" program, so most credit unions offer it - I've seen other Credit Unions offer the MyCard. Other MyCard cards I've seen only have QFF options as part of their Gold Mastercards, with BlueSkyRewards, for which the annual fee is $99/year. It's 1 QFF point per dollar spent, but it does require you to transfer in blocks of 5000 points, similar to Citibank.

    I still think on paper the Citibank option is the best choice.
  12. browski

    browski Established Member

    Sep 8, 2004
    I use the Earth Mastercard/Amex Card. I am going to hold my nerve til closer to Nov 30. I don't subscibe to the theory that no other Mastercard/Visacard will offer 1:1 again. Someone financial institution will offer it; even if only for 12 months. We'll see.
  13. locomotion

    locomotion Junior Member

    Hey Armanie,

    Commonwealth Bank additional card holders for Platinum is $15.00 per annum.
  14. armanie

    armanie Junior Member

    Apr 29, 2006
    Thanks locomotion.

    Yet another reason to change to the CBA.

    Citibank was charging me $250 for the primary and $90 for the supp Platinum.

    I'm so livid!!

    I urge all of those on Citibank Platnium to change asap. Just to teach them a lesson!! :)

  15. wafliron

    wafliron Established Member

    Aug 17, 2006
    Melbourne, Australia
    Just had a dig around on CUA's website and eventually found some information about the fee on their Gold Mastercard with BlueSkyRewards - it's buried in fine print at the bottom of the PDF application form, with no mention (that I could find) anywhere else :-S

    Anyway, just to confirm, it does appear to be the same as the other MyCard cards you mentioned:

    "...and for the Gold Card with BlueSky Rewards the annual account fee is $99 (Additional Cards are free)."

    So I guess it comes down to how much you spend - $69 with a 40,000pa points cap (Citibank), or $99 with no points cap (CUA/MyCard).
  16. dgruber

    dgruber Intern

    Oct 8, 2005
    1. Those with Ezy Mastercard can also transfer to a "no annual fee" CBA standard card. Commonwealth Bank Group - Personal - Credit Cards - Standard Card with No Interest Free Period
    Although no points will be earned it still might be worth keeping as a backup instead of cancelling it.

    2. The Citibank Silver card for $69 has a maximum credit limit of $7,000, else you need the Gold card which costs $119 if you want a higher limit. The CBA Platinum has a maximum limit of $100,000 with a minimum of $12,000 limit.

    One thing is with the CBA you can earn points on the standard card (pay $59). You still earn 1:1 CBA points. When you have collected enough you can transfer to the platinum ($200) and still have those points redeemed into Qantas at 1:1 basis.
  17. roryg

    roryg Junior Member

    Apr 6, 2005
    I have a Citibank silver, and the limit is more than $7,000 (over 30% more).

    Each time they send a letter asking if I want an upgrade to Gold, there is also a little para that says something like: "if you don't want Gold, but want an increased credit limit, just ring us." So I've refused the Gold, but taken the credit increase.

    I've been increasing the limit just a little every year ... and I pay it off every month.
  18. locomotion

    locomotion Junior Member

    No problem. Also something else interesting which I have noted on another thread is that you can have 2 or more platinum cards with the commonwealth bank. IF you currently have a card limit of $24000 or more I would suggest splitting the cards and having $12000 or more on each. 2 cards = twice the points capping. Which is handy for big spenders. for regular joe it wouldnt be nessesary.
  19. trader144

    trader144 Newbie

    Oct 31, 2005

    I rang up CUA and they tell me there is a cap of 60K per year on their Gold Mastercard with Bluesky Rewards. Does anyone else have any information on this
  20. ozmerish

    ozmerish Intern

    Apr 27, 2005
    Any updates to this thread?

    Still looking for an uncapped VISA/Mastercard to keep as a backup for American Express.

    Earlier posts for Citi not capping - good for you guys but they capped me after the first year - ran with their gold card until I capped the second year and closed the account. In the initial year, I was only over by about 40k points. They let me keep them but advised that it was a once only goodwill gesture.

    Have been using the CBA Platinum since it was launched (no cap then), but would switch if possible as the cap is reached fairly quickly in the year.

    I still have the ANZ FF Gold, but only because of waived fees - perfect example of how to enhance a card into irrelevance. Never bothered with the DC option that was offered - if a merchant doesn't take Amex - they won't take a DC (IME).

    St George could be an option, but if it's invite only - who knows :p

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