My friend/colleague is working full-time at a post-graduate role and he currently lives at home in Western Sydney. He has never used credit cards but he has signed up for the Westpac and Commonwealth Credit cards to make use of their promotional cashback schemes at the time.
He doesn't pay very many bills, only his partner's car finance, internet & phone bills which works out to be about $200/month. His luxury expenses per month work out to be what he believes to be around ~$400/month (this is including days where he eats dinner out of home). He wants to use these expenses on a long term credit account so he can rack up some reward points.
His main question is whether or not he should get a Credit Card, and which Credit Card product should he sign up for that gives decent rewards in the long term? So far he has considered a Citibank Rewards account or an Amex account.
Some other factors to consider are:
- He doesn't travel overseas frequently and at this point in time only travels internationally for leisure.
- His travel expenses work out to be about ~$75/week to go to and from work.
- He has no issues paying any debts and he generally pays all his current bills on time with no issues.
- He works in the IT industry
If we could get some insight from the OzBargain community, that'd be super helpful.
you sure know a lot about your friend's circumstances…