I spend so little I would not earn the annual fee back in rewards or points.
Does a Rewards or Points Credit Card with No Annual Fee EVER Exist?
bargain huntress on 29/05/2019 - 18:02
Comments
Coles CC?
The flybuys earning rate for Coles No annual fee one is pathetic, but better than nothing. Less than $2.5 worth of return in flybuys points for $1000 spend as you will not always meet the requirement for 1 point for every 2 Whole Dollar spend, e.g. spend 5 dollars and only get 2 points.
Try to sign up when you can get 20k flybuys points.
Black card is 2 per $1 spend, no AF, $150 off first shop.
Annual fee $99 now, used to be $89.
that sucks. it's not worth me even bothering.
In terms of flybuys points in cash return, it is 0.25% at best.
IMO, up to 55 days interest free is worth 0.01%-0.55% cash return (depend on when you spend during the cycle). So it is 0.26%-0.80% better off compared to most debit cards with no cash/points return. The assumption is you always pay off full balance on time.
There's a fair few, and even a Wiki on OzB and Whirlpool. https://www.ozbargain.com.au/wiki/credit_card_guide
I'd recommend the Coles No Fee Mastercard for more frequent spending like groceries and bills.
However, I strongly recommend looking into a 28Degrees card solely for the 12 Month Price Protection and Merchandise Protection insurance. It's arguably one of the best cards to have when travelling overseas as well, however, they don't really have any decent rewards program.
Both have no annual fees, Coles provides flybuys per $ spent, however, they no longer offer Price protection. The 28Degrees PP and MP cost 1% of your outstanding balance at the end of the month, however, you can easily get it for free by simply paying off the purchase before your cycle (eg. most people commonly just pay it off within a couple days of making the purchase).
A lot of users on here keep a Coles MC for daily expenses and use the 28Deg for infrequent purchases, especially technology as you can very easily claim back any price drops which occur any time over the next 12 months from buying it. (eg. Buy new phone for $1000, 6 months later it's on sale for $900, so you file a claim and get refunded $100. And then another 5 months later, the phone is now on sale for $800, which you can then make another claim for and get another $100 back. That way you effectively still only paid $800 but got to buy the phone when it just came out and use it for a full year.)
Note: Never blindly take advice from a stranger on the internet, especially financial advice. Go and set aside maybe a day or two where you can sit down without distractions and do some proper research and look into how having a CC would benefit/disadvantage you.
Actually yes - the American Express Essential cards have no annual fee https://www.americanexpress.com/au/credit-cards/all-cards/?i… (click the No Annual Fee button)
The points earn can be for either the Amex program (which lets you move points into a bunch of frequent flyer and hotel programs), or Qantas or Velocity versions.
Excellent to know. My AmEX will finish its first year soon but wanting to keep one handy.
i don't meet the minimum income. i never do for amex.
i got the citi cc top of the line signature card without ann fee ever. but that was just one time offer never get repeated ever again
Yep same here. It's a pretty average card for the annual fee now, but as a Visa backup to my Amex, decent insurance, priority pass and at least some points earn - no fee is definitely a good price!
Can thank OzB for getting me on that one, it's served me very well.
You're welcome
i used to have nab ant credit card with no annual fees with flybuys points.
few years ago they discontinued that product.
Not sure about credit cards, but the Velocity Global Wallet is a debit card with rewards. http://www.velocityglobalwallet.com/