Has an Alternative to ING's Everyday 2% Cashback Emerged Yet?

Lrailspider on 24/08/2016 - 20:32

In a week ING will end their very popular 2% cashback promotion for Everyday Paywave purchases. This has been sad news for the OzBargain community.

Other than the Military Bank 2% offer (that came bundled with overly restrictive conditions), has anyone found an equally as good replacement card for every day transactions? Either cash back on a debit card, or a credit card with lucrative reward points would be ideal. I'm primarily thinking about bonuses for your day to day <$100 purchases, at the supermarket or when out to eat.

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Comments

  • railspider on 24/08/2016 - 20:34
    +1

    In other ING news, I was asked to do a survey today about a possible ING Credit Card. The Card proposed in the survey had a cash back component very similar to the soon-to-expire Everyday card.

    My issue with this card is it appears to have an ongoing fee, and from the questions it appears the cashback would only be 1%. Under those circumstances I'd think some Rewards credit cards would work out being a better deal overall.

    • kev98 on 24/08/2016 - 21:11
      +2

      I think majority of ING customers would fit in to the category of 'pay no fees' so I doubt uptake would be high on such a card

    • nubzy on 24/08/2016 - 22:24
      +1

      Credit card does not sound enticing at all

      • railspider on 24/08/2016 - 23:52
        +1

        That was my response to the survey. Cashback is nice, but not with an annual fee attached. And none of the other rates or features were anything to brag about.

        Sad to see ING abandoning their popular debit card in favour of a credit card.

  • Colombian on 25/08/2016 - 03:36
    +5

    I thought it ends on 30 September?

    • railspider on 25/08/2016 - 09:29

      Good point Colombian. I'm terrible at dates!

      Gives us another month to find a decent alternative.

  • peterpeterpumpkin on 25/08/2016 - 10:23

    On a completely different note, I'm amazed at how many people use Paywave at ALDI and throw away 0.5% (in the case of no cashback). It's like "It's bad enough I had to talk to a real person but there's no way I'm sticking around for a PIN number". Or maybe they paid with a credit card for other reasons and I'm just looking for people to criticise.

    • cowboydev on 25/08/2016 - 12:57

      I noticed that too but it's because most people are not aware of the 0.5% surcharge, untill they check the receipt.

  • inherentchoice on 25/08/2016 - 14:14
    +2

    The AMEX Platinum Edge card gives you about 1% back in rewards, or 3% at supermarkets and 2% at petrol stations, but only where AMEX is accepted of course. It does have a ~$200 annual fee but you at least get a return flight for that, and you can sell that flight for over $200 in the OzBargain classifieds.

    Otherwise for purchases at places with no AMEX best I can find is the Coles No Annual Fee Mastercard, but the effective cashback is 0.25% or less and it seems you can only really redeem that value at Coles.

    They also have a rewards card with an $89 annual fee and an effective cashback of about 1%. But to recoup that $89 fee in rewards you have to spend over $12,000 a year by my calculations (i.e. $89/0.75% = $11,867).

    Until 31 August you can at least get 20,000 bonus points ($100 worth) when you sign up…

    https://www.ozbargain.com.au/node/258294

    • railspider on 25/08/2016 - 15:23

      Do Woolies/Coles/ALDI charge any sort of fee for paying with AMEX? If not that would be a pretty decent replacement for my circumstances - the free flight more or less negates the annual fee.

      Are you counting the rate of 1-3% back in rewards in terms of cashing the points in for gift cards?

      • retiredfeline on 25/08/2016 - 15:24
        +1

        All credit card purchases (including PayWave/Pass) attract a surcharge at Aldi.

      • inherentchoice on 25/08/2016 - 15:24

        Woolies and Coles don't. Nor does IGA, and nor do most servos. I don't think ALDI takes AMEX but I think ALDI charges 0.5% for credit card payments.

  • bluesky on 30/09/2016 - 20:27
    +1

    Or for some, perhaps the free Amex Essential Card that returns 0.741% is good enough, and $75 bonus signup via referral.
    (I also compared Amex Essential with the Coles Reward Mastercard with $89 fee here. Turns out if spend is more than $34,363 per annum, Coles Reward Mastercard is better.)

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