Reward Point Value Comparison

[Miekk]

Hey everyone,
We've just finished a reward point and program comparison table on Credit Card Finder, it can be viewed here:

Reward Program Point Currency Comparison | Compare Australian Credit Cards and Offers

Hopefully it can be of some good help to people. There isn't any sort of comparison like this available online so we figured we'd at least be the first.

It's in the early stages, so the information is only fairly basic at the moment. We'll consider adding more items to compare value, mainly electronics.

We're also aware that not every program has been compared - while we'll make an effort to add all of them in due time, if you guys could make a recommendation or what's missing that's essential, that would be great.

Any other feedback would be great too.

Enjoy!

 

[Schebesta]

So the ANZ program seams to be the best value overall?

 

[Mal]

My concern with your site is that credit card "apply" links look to go to affiliate applications for cards.

Hence, there will always be a potential conflict of interest with ranking cards and displaying various cards due to monetary incentives for certain card applications.

How do you propose to deal with this?

 

[Miekk]

My concern with your site is that credit card "apply" links look to go to affiliate applications for cards.

Hence, there will always be a potential conflict of interest with ranking cards and displaying various cards due to monetary incentives for certain card applications.

How do you propose to deal with this?

I don't understand your issue with the "apply" links going to affiliate application for cards - just like any person making business/financial referrals on behalf of another, they are entitled to commission.

With the potential conflict of interest, that was more of an influential factor on the sites start up but it is diminishing. In the long term we will benefit from more by being comprehensive and unbiased. The rewards comparison table for instance is an example. So are NAB & Westpac credit cards, they too are featured on the site even without financial incentive.

 

[wallacej]

Although I like the information, I am sometimes not convinced that the data is 100% accurate, and I have doubts about the accuracy of information supplied when there is something like an apply now button next to a recommendation.

The concern could be that the worst card could offer the best commission.

On sites such as this, I go to the actual company websites to confirm the data.

Thanks for the link though, it makes for a great read.

 

[Mal]

I don't understand your issue with the "apply" links going to affiliate application for cards - just like any person making business/financial referrals on behalf of another, they are entitled to commission.

I don't have an issue with affiliate links, advertising etc per se (everyone is welcome to earn money and advertise and I could have written my post better), my concern was around potential conflicts of interest (ie some cards potentially being "ranked" as better than others due to their value on applying.)

A lot of supposed "comparison" sites for credit cards have this issue. I'm not suggesting that you fall in the same boat - just wondering how you deal with it.... which you've answered.

Thanks. Looking forward to the comparison charts etc being finished.

 

[cwliew]

Just joined this website, and its great.

Nice work with the comparison chart, but as you've put in the disclaimer at the top, it can be very misleading.

I find that my citibank platinum and amex platinum are by far the more rewarding in terms of points and flights etc.

My ANZ card is by far the worst which kind of negates the purpose of your comparison chart.

A small suggestion - if in your calculations, you added the expenditure required to achieve those redemptions (ie points per dollar spent) it would probably make it a bit more useful, and in my calculations, Amex is the best by far.

Cheers mate, and good work!

 

[Miekk]

The concern could be that the worst card could offer the best commission.

That is a concern on the surface, but when you have a site filled with comparison tables, the information is clear as day - if the worst card is at the top of the table, it wouldn't make sense for anyone comparing.

A prime example of balance - if you visit the 'low interest credit cards' category on the site, the BankWest Lite MasterCard is listed as the #2 card. They don't even have an online campaign as of present, and we don't benefit financially in anyway from featuring that card on the table. It's there because it truly belongs as the #2 low interest card in our opinion.

Thanks for your comments about all this, it really helps get an impression of what users think/feel about the site.
http://www.creditcardfinder.com.au/low-interest-rate-credit-cards

 

[wallacej]

That is a concern on the surface, but when you have a site filled with comparison tables, the information is clear as day - if the worst card is at the top of the table, it wouldn't make sense for anyone comparing.

A prime example of balance - if you visit the 'low interest credit cards' category on the site, the BankWest Lite MasterCard is listed as the #2 card. They don't even have an online campaign as of present, and we don't benefit financially in anyway from featuring that card on the table. It's there because it truly belongs as the #2 low interest card in our opinion.

Thanks for your comments about all this, it really helps get an impression of what users think/feel about the site.

And what I like (and what gives it cred in my mind) is that it is almost identical to a spreadhseet I have worked up myself to try and determine which card is best for my circumstances.

 

[JrFoxMN]

I think the biggest thing missing from this chart is the typical earn rate for normal spending (ignoring bonus offers), as pointed out by cwliew.

ANZ Rewards looks to be the "winner", but I believe the earn rate caps at .66 points per dollar spent, meaning I need to spend $20,000 to earn $100.

Westpac Altitude looks avg, but the Platinum card earns 3 points per dollar spent, meaning I need to spend $5,600 to earn $100.

As a comparison point when I did my own spreadsheet, I basically said what would $10,000 get me.

 

[bachman]

Are all comparison sites set up for commissions from the credit card companies? Is it a commission for application or purely based on hits. I guess its no different than a mortgage broker or a travel agent… but can’t the comparison site operate independently and raise revenue from advertising?

I just recently picked up a new rewards card based almost entirely on the reviews and comparison on www.mozo.com.au. It had lots of great information and customer reviews and I felt pretty comfortable in my choice. I never noticed direct links to the application sites; maybe Mozo is independent and doesn’t receive commission? I guess as long as the information is accurate, no harm no foul, but receiving commissions definitely opens you up to questions being asked.

 

[oz_mark]

Mozo states that it makes money from the referral to the other site:

How do you make money?

Mozo makes money in two ways. We charge a fee to financial institutions when we transfer potential customers to them, for example if you click on ‘Go to Site’ once you’ve found a great deal using Mozo. We also host a small amount of advertising on the site to keep you up to date with the latest offers.

 

[RB]

Are all comparison sites set up for commissions from the credit card companies? Is it a commission for application or purely based on hits. I guess its no different than a mortgage broker or a travel agent… but can’t the comparison site operate independently and raise revenue from advertising?

I just recently picked up a new rewards card based almost entirely on the reviews and comparison on www.mozo.com.au. It had lots of great information and customer reviews and I felt pretty comfortable in my choice. I never noticed direct links to the application sites; maybe Mozo is independent and doesn’t receive commission? I guess as long as the information is accurate, no harm no foul, but receiving commissions definitely opens you up to questions being asked.

Read their FSG on the site you have linked. You will find they receive payment for you showing interest & further payment if you take out a product.

 

[Schebesta]

Mozo is just like Credit Card Finder they both make commissions through the banks.

 

[Schebesta]

Read their FSG on the site you have linked. You will find they receive payment for you showing interest & further payment if you take out a product.

They actually receive money if you just click on the enquire button and don't actually apply!