Credit Card Points! - how to maximise?

Discussion in 'General Credit Card Discussion' started by scruffie, Jun 18, 2004.

  1. scruffie

    scruffie Newbie

    Jun 14, 2004
    3
    0
    sydney
    Hi all,
    New to this board. Was wondering what is your strategy in maximising your points?
    There's gotta be something better than 1:1.
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  2. sambo

    sambo Intern

    Jun 2, 2004
    68
    0
    Melbourne
    Yes, there is. AMEX rewards maximiser card gives you 1.5 points/dollar spent, however fee i s $12 month. If you happen to be a CPA, there is a CPA AMEX that gives two points/dollar once you´ve spent $5000 in a year(resets each year).

    Or, with any AMEX, you can enrol for 6 monts in Rewards Accelerator for $29, giving 1.5/$1.

    As for other cards, no. Some even give 0.5points/$ (Read Westpac).

    Citibank cards offer some great balance transfer deals, check it out at www.citibank.com.au

    Sam.
     
  3. scruffie

    scruffie Newbie

    Jun 14, 2004
    3
    0
    sydney
    Thanks sam for your quick reply. Yeah i have a cpa card and i get 1.5 points. but still that's still not enough :)

    There must be some other way to max out points. For example, say purchase something on the cpa card and get 1.5 points in every dollar, transfer the balance to citibank and get 1 point in every dollar - and settle the bill asap. that way you could get 2.5 points in every dollar.

    Or for example (this is a bit dodgy) having a amex charge card (with reward points) and a amex credit card (without reward points). Go to places that honor a 30 day change of mind refund guarantee and purchase things on the amex charge card to earn the points. Can one then return the product on the different credit card (say the amex credit card)? AFAIK its kinda dogdy but is it illegal?
     
  4. sambo

    sambo Intern

    Jun 2, 2004
    68
    0
    Melbourne
    Interesting point, but I´m pretty sure the store will want to refund it to the same card as the item was purchased with. And it probably is illegal.

    The citibank method you mentioned will work, but only three times. After you´ve made three balance transfers to a citi card, you get no bouns points. :cry:

    Youŕe thinking along the right lines though.

    Sam.

    PS: Is it 2:1 or 1.5:1 on your CPA AMEX?
     
  5. scruffie

    scruffie Newbie

    Jun 14, 2004
    3
    0
    sydney
    *mumbles*
    back to the drawing board...
     
  6. arun

    arun Member

    Sep 5, 2002
    311
    0
    Sydney
    I have a CPA Amex. It gives 1.5 points per dollar (after $5K in a year). If you enrol for Accelerator, you will get another .5 points. However, after getting used to paying no fees or whatsoever to AMEX, I did not want to pay $29 (for 6 months if I remember) to get those extra 0.5 point per dollar.
     
  7. GoldCoastGuy

    GoldCoastGuy Intern

    Oct 5, 2003
    91
    0
    Gold Coast, QLD
    If you have a CBA Standard card and don't have a need to use the points for a few years, simply use the standard card and pay the standard fee.

    When you are close to needing to use the points, upgrade the card to Gold or Platinum and close the standard card.

    CBA will transfer the points to the new card on a 1:1 basis.

    You can then use those points to transfer to Qantas on the Gold rate (1.5:1) or Platinum rate (1:1).


    Evan :->
     
  8. arun

    arun Member

    Sep 5, 2002
    311
    0
    Sydney
    That's quite a good one. But, I would not be betting on it. CBA might find a way to stop that to prevent may people doing it.

    For ex: My westpac attitude now show the points I earned prior to the date they effected 1:0.5 trf separately to keep[ track of those.
     
  9. danielh

    danielh Member

    Dec 5, 2003
    352
    0
    Do you do a lot of flying for work? Do you have a lot of work expenses?

    Although I'm encouraged to use my work Diners Card for flight purchases, I use my ANZ Gold Visa as I get double points on it (due to purchasing tickets through Qantas directly). As my Gold limit on 1:1 points is 2,500 I tend to use my Diners card for all other purchases.

    There are not many other ways to mazimise points though.

    I also just posted in the ANZ Qantas Vasa forum something about the double points deal for ANZ Diners Card holders if anyone is interested.

    http://www.frequentflyer.com.au/discus/viewtopic.php?t=427

    Regards
    Daniel

    EDIT: Forgot to mention that staying at Hotels and hotel club memberships can be very useful in gaining points. I got about 24,000 points for staying in the Renaissance Hotel, Wan Chai (Hong Kong) for 5 weeks as I was a MARRIOTT member.
     
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