Investec Visa Signature Card - 100 000 Qantas Points

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Jhig

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Just noticed this offer today on the Qantas site.

http://www.qantas.com.au/cardselect... Card&partnercode=INVESTEC&intCountSelected=0

100 000 points for the Signature card.

Signature is $400 per year, but 100 000 points is a nice bonus.

The downsides look to be
  1. $15 000 spend required in 90 days to get bonus points.
  2. $120 000 minimum earn to qualify
  3. $400 early fee

The positives though
  1. Visa earn of 1 point per $ in AU
  2. Visa earn of 2 points per $ overseas
  3. Complimentary Prestige Priority Pass™ membership
  4. 100 000 Qantas FF points

Similar other features of a high end card.

Cannot say I have ever heard of "Investec" myself, but I am willing to apply for the 100000 points.

Anyone see any other obvious downsides???

Cheers
 

lovetravellingoz

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Well in terms of "buying" points the Plat gets more bang for your buck, with 50,000 for $150. $5000 spend easier to get too.

Though at an earn rate of 0.5 you gain 2500 less points. But it is still cheaper.
 

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In terms of QFF points manufacture, 4 cpp isn't shabby and is probably far lower than most now value their not so precious QFF points at. But 2 x 50,000 QF points at 0 cpp via the current ANZ promo (Platinum AND Black - http://www.australianfrequentflyer....motions/anz-platinum-50k-bonus-qff-61242.html is the way to go.

The $15k spend in first 3 months is the killer though. This card is definitely aimed at the very high end spenders.
 

lovetravellingoz

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In terms of QFF points manufacture, 4 cpp isn't shabby and is probably far lower than most now value their not so precious QFF points at. But 2 x 50,000 QF points at 0 cpp via the current ANZ promo (Platinum AND Black - http://www.australianfrequentflyer....motions/anz-platinum-50k-bonus-qff-61242.html is the way to go.

The $15k spend in first 3 months is the killer though. This card is definitely aimed at the very high end spenders.

Yes I think you can take it as read that we all already know about the ANZ promo.
 
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Cannot say I have ever heard of "Investec" myself, but I am willing to apply for the 100000 points.
So in reality to get the 100K bonus your income must be 120K> - so your total earn is 115K pts for $400 after !5K$ = .35c/pt - is that correct?

No brainer if that is correct - pardon me if my maths wrong or seem simplistic - currently in IST and plenty lubricated right now.
 
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Jhig

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So in reality to get the 100K bonus your income must be 120K> - so your total earn is 115K pts for $400 after !5K$ = .35c/pt - is that correct?

No brainer if that is correct - pardon me if my maths wrong or seem simplistic - currently in IST and plenty lubricated right now.



Thats the way I see it. 115 000 points by the time you spend $15 000 in 3 months. All for $400.
As I said before though, the down side being $120K yearly earn and the $15K spend in 90 days.
I know these 2 negatives may not suit too many people, including me, but those that it does suit makes for cheap points.
I am going to try for this card ( just make the $120K if you include all of the extra overtime I do all year. Whether they accept that remains to be seen.)
I have to purchase something for $8 K very soon and some large bills coming up, so the $15K spend might just be managed.
Could do with a lot more points after burning near half a million in the last month on MASA seats while I could.

If the signature is all too hard to manage then the Platinum is just as good value for 50K, but a lot more acheivable. I don't like the reduced points earn though.
 

amaroo

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Seems a no brainer to me...good for 15K and then get the scissors out.

non-eligible transactions means the following transactions unless Investec at its discretion deems them to be an Eligible Transaction:
(a) cash advances;
(b) Balance Transfers;
(c) special promotions;
(d) purchases of foreign currency or traveller’s cheques;
(e) any payments made to the Australian Tax Office;
(f) interest and finance charges that are payable or paid on your Card Account;
(g) Transactions which are disputed, fraudulent or involve abuse of your Investec Credit Card;
(h) payments and purchases which are refunded or reimbursed;
(i) payments made by using BPAY.
(j) transactions made in operating the Card Account where it is more than $25,000 in credit.
 

Foreigner

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Seems a no brainer to me...good for 15K and then get the scissors out.

non-eligible transactions means the following transactions unless Investec at its discretion deems them to be an Eligible Transaction:
(a) cash advances;
(b) Balance Transfers;
(c) special promotions;
(d) purchases of foreign currency or traveller’s cheques;
(e) any payments made to the Australian Tax Office;
(f) interest and finance charges that are payable or paid on your Card Account;
(g) Transactions which are disputed, fraudulent or involve abuse of your Investec Credit Card;
(h) payments and purchases which are refunded or reimbursed;
(i) payments made by using BPAY.
(j) transactions made in operating the Card Account where it is more than $25,000 in credit.

Agree. Cheap way to get 100k points. Wish points were able to be credited to other FF programs to get better mileage.
 

Cynicor

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I don't know what I'd spend 15k on in 3 months, as I've booked most of my trips out to early Jan. Would need some way to churn the cash through really. Pretty good deal, pity I didn't see/hear about it earlier as the last 3 moths have been a lot higher expenditure than most.
 

rocket256

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Take out some insurance policies and get them refunded within the salutatory cooling off period. NRMA will send out a check with the full amount, even if you paid by credit.
 

Jhig

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Just been speaking to the people at Investec and they have told me that my application cannot be accepted as they are a medical and dental association and the cards are only offered to those professions. I told them that the invitation was clearly offered on the Qantas site and nowhere in the fine print does it say you have to be in the Medical profession, even though I meet their requirements. They apologised but said that there is nothing that they can do, and the link has been removed from the Qantas site, even though it was still there as I was speaking to her. I feel a bit cheated about this, as here I am giving them all my personal financial details and qualifying, and they simply say "no we dont want you".

What do you guys think?

Also told them that I was not happy as this would be a negative on my credit history as a credit card has been declined, she did say that would not be the case as the application has not been acceptd, they better be correct as I dont want my credit standing soiled by their stuff up!
 

mini2

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They accept accountants too ;)

I've tried to organise a mortgage through them, I thought their top up product suits our needs pretty darn well but the bloke just gave up because how I've structured my tax affairs is too special for this so-called "specialist bank".

Then I've tried their vehicle financing arm, their sales weren't much different from their mortgage blokes either and thought I was kidding when I inquired 100k chattel mortgage. I've gone elsewhere as a result.
 
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Printed out applic form and sent off Friday - just got call to say my applic will be approved but I forgot to sign applic form - so they emailed back to me - I signed scanned and returned - we await card than will knock off the 15K in a week or so - bank the 100K QF pts - aint life grand?
 

Hammando

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You're churning through the sign on bonuses Cruiser! Nice.

Out of interest do you subscribe to the Veda score product to see how the multiple applications effect your score?

I think my last cc application dropped my score by 25 points, and was my first application in about a year.
 
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