Hi all.
I feel like I've been missing out on the party by not earning credit card points.
I own a small business and buy a fair bit of stock each month. Paying for this with credit card could be a good source of points :)
However, some suppliers are now passing on fees. So what percentage makes it not worthwhile paying with CC? What CC has the best rewards and returns? Anything else I should watch out for?
Thanks!
An alternative
Do they allow bpay? They can't/don't charge extra on that.
If so, first you need a credit card that gives points on bpay ie not Commonwealth bank
2nd you need to check the Bpay merchants webpage to confirm that the receiver accepts credit card bpay. Otherwise bpay from credit card will be issued as a cash withdrawal
Look here: https://www.ozbargain.com.au/wiki/credit_card_guide
Then apply from here: https://www.ozbargain.com.au/wiki/american_express_referrals
You can work it out but the basic rule is if there is a surcharge, the cost of the surcharge is greater than the points earned.
For example, a $50 gift card costs 8,000 points. 1 point is therefore worth $0.00625
Your card earns 1 point per dollar spent.
A supplier charges you a 1% commission. So on a $100 purchase you will pay $1 in surcharge but only earn $0.63 worth of points.
There are many other considerations like what is the best way to spend your points (maybe it isn't gift cards but airline mile transfers instead), tax implications (surcharge may be deductible), and what card has the best earn rates that sites like Aust FF, AusBT and Point Hacks specialse in.