First time poster here!
So me and the missus has just recently bought a brand new car. We plan to put a DP of $10k and loan the rest for 5 years. We were wondering what the best Credit card is at the moment to use when paying those fortnightly payments in terms of rewards/points?
P.S. We're fairly new residents here in Sydney, so we don't really know the reputation of most banks and such.
Thanks in Advance!
What do you use it for mainly?
I only use mine for online shopping via Paypal.
Good call on the Qantas Amex card. You can pay most bills using PayPal too, using the Australia Post Billpay website or app.
I pay all my bills that way. All of my bills have the Post Billpay details next to the BPAY details.
So I've heard. That's why I don't really think AMEX is gonna work out. Though it does work with Apple Pay, but thats about it.
From what I've noticed, you don't really have to worry about online shopping with an AMEX because paypal accepts it and most sites accept VISA, Mastercard and Paypal.
When going out, my experience is that if they accept cards, they accept AMEX too, if they don't accept AMEX, they usually only accept cash. This is just from my personal experience in Sydney though.
I suspect you'll find it difficult to make loan payments on a credit card.
Perhaps there is some enterprising OzBargainer out there with a way, but it's not usually allowed.
Are you sure you're able to use a CC to make loan repayments? Would it be considered a cash advance, therefore making it financially detrimental?
I'm not entirely sure. Can't you do that even if you pay it out within the month?
Paying a loan (I interpret it as cash advance) is treated differently from making a purchase on credit. You get charged interest immediately vs interest free period.
Good to know! Thanks for the warning!
I personally love the AMEX Qantas discovery, 0 Annual fee with $1 per 1 point. But it is an AMEX so not as widely accepted.