Hi.
Having trouble finding a way to spend 9k in 90 days (few credit cards).
I've already prepaid health insurance and few bills.
Any other smart ideas ozbragainers?
Cheers
Easiest Way to Reach Spending Criteria for Credit Card Points?
2real4u on 18/02/2018 - 19:36
Last edited 18/02/2018 - 20:34 by 1 other user
Last edited 18/02/2018 - 20:34 by 1 other user
Comments
- 1
- 2
Nevermind
i would but thats not 9k unfortunately
i have 9k to the dollar in my cart, pm me card number.
i have to be safe, especially on the internet and with strangers, please PM screenshot of cart equally $9000 exactly
you would have to be a lot better looking.
well i don't have an ass as a face, so im already good.
Woolies discounted gift cards.
Nice!
Edit: Do you mean buy at 5% off then sell then at 7% off to other ozbargainers/gumtree? That's a lot of effort/gonna take a while?
Just buy 6 months worth of your own use. It is part of the strategy, not all $9k in one go (although the amount we seem to spend it would come close!)
9k is 180 per week.
You can easily go through that much in alcohol groceries and petrol!Easy peasy
Paypal
Hmm interesting idea!
So just send from one paypal account to another, then withdraw and cop a (relatively) small fee? Does paypal impose a sending limit?
No don’t. Cash advance is againt paypal user agreement. You will be permanently limited if you do so.
Thanks didn't know!
Prepay council and water
Prepay etolls
Prepay utilities
Pay bills for family and friends
Private School fees
ATO bill
Prepaid public transport
Get a refund of health insurance to your bank account and get a new policy and pre pay 12 months
Childcare
Prepaid Visa cards and vpay to use at a later dateThanks mate!! Where do you recommend to buy visa cards from?
they sell them everywhere eg woolies, bing Lee, harvey norman
Just make sure you buy a high amount as there is a $4.95 card feeHighest is only $100
Aus post has reloadable and non reloadable Visa cards with 1k limit
Some cards don't accept council fees or ATO bills as genuine purchases. So beware.
Massive overseas trip with business class flights!
I think visa cards do and master cards don't, not entirely sure
Pay me 9k I'll send back 5k and we are both happy.
username checks out
I get that alot, usually in condom deals ect though lol
Buy things
lol which things?
oh you know, stuff
lol which stuff?
Buy Westfield gift cards and use them at Coles and Woolies. Max amount is $995 per card, however each card is also $2.95 and expires in a year
Westfield giftcards are the WORST…. half the stores don't take it, so OP make sure a store you might spend it at, does take it.
Every EFTPOS machine in Australia takes them. It's just an EFTPOS card. Just don't tell the operator.
There's 2 types of westfield gift card; standard, and XS.
Only XS can be used as an EFTPOS card.@windrc: I've used standard red Westfield cards outside Westfield. Give it a shot with a small purchase. Under the hood it's just a normal EFTPOS card
Wow a neg for telling the truth
@Fobsessive:
I've got 20 bucks on an expired Westfield card. Do u know if they can do anything to help me?@mmd: go to Westfield customer service, say you heard now gift card expiry is 3 years and you want to extend it, insist for a while
Shout your mates lots of drinks. LOTS of drinks!
Buy a new car.
doesn't work.
A new car should work, if it doesn't then claim on the warranty.
Oh so funny….
But to claim warranty for that non working new car, one would have to buy a car first, and dealers don't take 'credit cards' for full payment.
@R-Man: This can be negotiated away, I paid the full amount for my Mazda on my Amex charge card and they waived the $900 surcharge because I told them the deal was off with a surcharge of any kind. Granted this was December so they were really desperate
Put a 5k deposit on a new car, then cancel your order later on without penalty - they generally refund by cheque!!!
Buy shares on the IG share trading platform, they accept Paypal payment to settle the shares.
Buy a share that's about to pay a dividend, assuming the price doesn't fluctuate that greatly you'll also be able to profit from the dividend in addition to your bonus points.
Do your own research of course :)
Thanks mate, i've got some homework to do now!
What if I fund the account through PayPal (1% fee).
Then withdraw to a debit card without buying shares?
Can you see any problems with this?I have never used IG, but I doubt they will allow you to just deposit funds and then withdraw them without making a transaction. If they did, it could be used as a form of money laundering (which understandably most sites are keen to avoid).
@djkelly69: you’re right, anti money laundering laws prohibit those kinds of withdrawals.
You’d beeed to buy shares with the money first, sell them then withdraw.
@2real4u: Trading shares involves waiting out a settlement period, usually two days.
I’m not 100% on how IG works in that regard, I’d pop into their website and check their settlement times for share trades.
I can confirm that IG does not allow card funded money to goto a bank account.
However, you may be able to fund your account, buy shares($8 fee), sell shares ($8 fee) and then transfer the proceeds to a bank account. $16 fee and capital losses may be tax deductible.
You need to hold for 45 days to be entitled to any franking credits :)
Not for small holdings, under $5k if I recall correctly.
@ely: Ah, here we go, it's actually a little more generous than $5k worth of shares, it's $5k worth of franking credits - https://www.ato.gov.au/Forms/You-and-your-shares-2013-14/?pa…
The holding period rule requires you to continuously hold shares ‘at risk’ for at least 45 days (90 days for certain preference shares) to be eligible for the franking tax offset. However, under the small shareholder exemption this rule does not apply if your total franking credit entitlement is below $5,000, which is roughly equivalent to receiving a fully franked dividend of $11,666 (based on the current tax rate of 30% for companies).
But the share price will pretty much always drop by the amount of the dividend when it goes ex-divi, so wouldn't the 'profit' from the dividend be eaten up by the capital loss?
What if I fund the account through PayPal (1% fee).
Then withdraw to a debit card without buying shares?
Can you see any problems with this?If the div is higher than expected, the shares will often not drop as much as the div, due to the fact that shares normally rise to include the anticipated return
Nailed it. Pebee47 is very much confused; dividends are announced before the record date, so any unexpectedly large dividend is already priced in come ex div date.
Doesn't take Amex so no use. Unless you're happy paying those fees for Visa Or MC
This is about hitting minimum spend, so it would definitely be worth it over missing out on a massive bonus
Every share fluctuates around dividend time, there are traders that only trade before and after dividend.
Idea is good, but of course the share the share price does generally fluctuate by the value of the dividend more or less. Additionally the dividend will be taxed at your marginal rate, while the capital loss can only be used to offset capital gains, so unless you have some of those handy in the current tax year you'll be out of pocket until you can offset then against future gains.
In short: try to avoid dividends instead, and it's a good idea.
As soon as it goes ex dividend the share price drops by the dividend amount plus 45 day holding rule to claim franking credits.
https://www.ato.gov.au/Forms/You-and-your-shares-2013-14/?pa…
Not something to dabble with to make spend unless you're already au fait with investing in shares
Woolworths wish card is better idea than Westfield. You can use it for filling petrol as well. If you use 7 eleven, add some to your 7 eleven account. But other eftpos cards for yourself to use later on anything, that will give you a year to spend that amount. Your rego/insurance if they are near to renew.
7-11 app takes master and visa card only.
Except you can buy physical 7-11 gift cards in store with Amex, then transfer those credits to your app.
OMG- wish I had known this earlier!!! Great tip thanks!
Also, buy some stuff at bunnings and then return to a different card. Sometimes they allow it. Depends on the person doing the refund.
Key word: sometimes. Unless you claim your card was lost or stolen, they'll refund back to the same card it was purchased from and worst case scenario, might give you a credit note or something
Why apply for all these cards at once? I just burn through one 3K requirement in 60/90 days and then move onto the next one.
Doing it in parallel with multiple cards is not ideal i would have thought. for your wallet or your credit rating (assuming you've applied for multiple CC's in one go).
Some people book business class flights (fully flexible tickets - i.e refundable) for some point in the distant future and then when they've got the bonus points, cancel the flights.
"Why apply for all these cards at once?"
Need the points asap for an upcoming flight.
And the only use my credit rating has to me is to apply for more cards :)
Hmm I've heard they've been some issues getting refunds with business flights.
You do realise that even once you reach the target, it can still take over a month before you are credited the points?
If the flight is "asap" urgent, just pay for it.
Thanks for the reply. I've booked the flight but want the points to upgrade to business, leaving in late April, so hopefully should get the points in time.
I would say just save it for future redemption.
Usually upgrade flight gives you poor redemption rate than buying Business/First outright.
Also upgrade is not usually available unless you have gold/platinum status.If you need the points asap, you could borrow off a friend and send it back to them when you've accrued the points via credit cards, flying etc. (You could also pay them a little interest in points if you feel like it)
If no one is willing to offer to lend you points then perhaps buy points from someone, a lot of people tend to sell at $0.01 per point.
So you are going to spend $9k to get exactly what?
Something you can buy for $100?
Logical 😳I don't understand, the bonus points are worth more than 100?
Why didn't you sign up one after another instead of all at once?
If you use any of your extras on your health insurance, never show your health insurance card when paying. Always pay the full amount on your points scoring card and then make the claim on your insurers website. You can nominate your normal bank account to receive the refund.
Genius
Is this just advice for OP to reach their 9K minimum spend or for people in general?
Do you mean, rather than having them swipe your health insurance card and making a claim on the spot thus you only paying the gap (a smaller percentage of the full amount), you should pay the full amount (and earn more points) and then claim the money back from insurance later?
That’s right, it’s amazing how many times I ‘forget’ my health insurance card ;-)
Yes.
I was able to make further savings by using my credit card during amex shop small.Most health insurance companies allow you to submit claims online which saves time.
- 1
- 2
you can buy me stuff.
https://au.louisvuitton.com/eng-au/products/keepall-45-bando…
https://au.louisvuitton.com/eng-au/products/josh-damier-grap…
Thanks