Trying to work out which card?

[wallacej]

I am trying to put together my own spreadsheet to see which card will suit my purposes best. WOW, what a nightmare.

Everyone's needs are different, so it is hard to broadbrush it, and reading through the threads it comes down to what you want from the card.

Also, take into account the changes that are coming with direct earn etc just adds even more confusion.

For the sake of comparison, I want a $1000 Myer card. These can vary from 120,000 from velocity to 135,000 from the QF store, and 142,000 from Diners.

Not interested in redeeming for flights.

So which card will earn the most points for the quickest burn toward that gift card. Lets assume a monthly spend of $3000 p/mth only.

I do fly (as most would know) DJ mostly, but for the sake of this arguement, I will leave out the flight points.

Lets assume that I can obtain any credit card I like based on my salary and good credit history. Not fussed about interest rate, card is paid out in full by due date. Not worried about any fees, although this does need to be taken into account, but if a higher annual fee means a better earn rate that compensates, then that is not a problem.

ANY THOUGHTS - THIS IS REALLY DOING MY HEAD IN.

(I have done all the online calculators I can find (including the one here) and hard pressed to know what is paid for in advertising, and what is not)

 

[Diesellife]

Well, if gift card is all you need.....

Here is my opinion:

Amex platinum (Including other banks) one will do you no good, even with the 1.5 points per dollar. It is because your annual spending of 36000 = 18000 bonus points. This is equal around $130 cash/gift card value, hardly enough for any platinum card...

Then having an amex only card alone is not convenient because some merchants don't accept amex. But at the same time, mixing amex+mc/visa generally has a higher annual fee.

Also direct earn cards usually have a higher than normal annual fee, so it is not a good option either.

I believe the best card for you is Myer Visa card (Provided that you do shop in myer frequently)

-$39 annual fee (Waived first year)
-Bonus voucher booklet
-1 myer points per $ everywhere except myer
-3 points per $ if you spend in myer (Afterall I guess you do like to spend in myer)

The disadvantage I can think of is the redemption rules as myer one seems to auto issue voucher to you when you reach certain point, eg $20 card at 2000 point. and also the $2000 cap outside myer.

Using this card, you are getting $20x12=$240 gift cards a year. Deducting annual card fee = $201 total rebate. (Excluding any myer purchases) You will get more if you do purchase in myer.

Other visa/mastercard with low annual fee + has myer reward will also do the trick. (Not commonwealth, maybe ANZ/Citibank) you are getting roughly: 36000 points a year with roughly 14000 points per $100 = $257-annual fee ($60) = $197...

Of course I haven't done an extensive research and there might be other options available but for your $3000 a month spending, the marginal benefit is minimal. Hope this helps!

 

[wallacej]

Thanks for the feedback - makes sense.... I earn around 70,000 + points with DJ flights each year, so I guess I was looking at that as well, but trying to work the best deal not including flights.

Just soooo many options to consider.... I appreciate your feedback.

Thanks.

Any one else have any other thoughts?

 

[wallacej]

...

The disadvantage I can think of is the redemption rules as myer one seems to auto issue voucher to you when you reach certain point, eg $20 card at 2000 point. and also the $2000 cap outside myer.

That is pretty tight only allowing $2000 points outside of Myer - not a great incentive there to get that kind of card - don't shop there that much, just looking at the Myer Card being a standard product that it seems all flight reards programs seem to offer.

Trying to compare apples with apples, but I keep runing into grapes:shock:

 

[Mal]

An interesting (non-biased) report to read is the Cannex (now Canstar) Credit Card rewards Star ratings:

Credit Card Rewards, compare credit card rewards points with Star Ratings

While their methodology won't match other people's spends on cards, I find their data an interesting view into the various cards on the market.


Another part of their site that I really like is their Credit Card Star ratings, which similarly ranks various credit cards and their perceived value : Compare Australian Credit Cards & interest rates with Star Ratings

They've also recently added a daily updated version of their credit card data, which shows current interest rates etc.
http://www.canstar.com.au/interest-rate-comparison/compare-credit-card-rates.html