Transaction Account + Credit Card

obsid on 01/02/2024 - 13:04

Hi guys, i'm looking for a transaction account + a credit card, just want to see if you have any recommendation of which bank has a good offer at the moment.

I'll be using the transaction account to deposit my salary and the credit card for my daily grocery and bills.

Are there any credit cards that they will waive the annual fees not only for the first year but going forward as well if I met certain criteria, e.g. minimum deposit per month.

In addition, I know CBA has Commbank Yello and Westpac has Shopback, are there any other banks offer similar reward programs where we can get cashback or discounts?

Many thanks!

Financial Bank Account Credit Card Transaction Account

Comments

    • obsid on 01/02/2024 - 15:01
      +1

      thanks, i did go through Finder and Canstar before posting however they don't tell you specifically whether banks have their own debit card reward systems e.g. CBA & Westpac ones i mentioned in my post, hence posting here trying to see if anyone currently with other banks that have a similar debit card reward program

      • randomusername2017 on 01/02/2024 - 15:45

        Narrow down your choice of card, you'll get more relevant feedback.

  • payless69 on 01/02/2024 - 13:58

    some use ing

  • bozaar on 01/02/2024 - 14:34
    +1

    Ubank
    Coles no annual fees fly buys

    • obsid on 01/02/2024 - 15:02

      thanks. i heard about Coles no fees. will check out the Ubank one.

      • Peck on 02/02/2024 - 10:56

        Now that I am losing my Citi fee free CC, I am looking for a new one too. Hopefully low fees, reward points, and lots of cashback offers. Please post your research conclusion. Thanks

    • bumperplates on 02/02/2024 - 11:21

      How do you find flybys rewards through the Coles Card? Did you ever try Bankwest or Mac. Bank? hBSC also have a 2% refund on transactions under $100 from memory on their CC which I thought may be better or equate to having a Rewards Card.

      • Peck on 02/02/2024 - 12:33

        Coles no annual fee card 1 Flybuy per $2 spend. Which equates to about 0.25% rebate. https://www.coles.com.au/credit-cards/no-annual-fee?cid=mcar…
        I can't find a HSBC card with a 2% rebate.

        • lattesipper on 03/02/2024 - 12:53
          +1

          The HSBC card is the Everyday debit account, 2% instant cash back. I combine it with ubank savings account, which is scheduled to send it:

          $100 ubank Save > HSBC Transaction Monday to Friday, and the HSBC account is scheduled to send $200 back HSBC > Ubank Save. This fulfills the HSBC monthly criteria to get the 2% cash back, while keeping the HSBC account balance between $100 and $299.99.

          You can increase these numbers if you spend more than $100 per day

          It's effectively like a credit card in that you don't have to think account balance, but the rewards are much better. Also you never have to worry about Surcharge fees (2% cashback is higher than any legal surcharge)

          • Peck on 03/02/2024 - 13:55

            @lattesipper: That sounds like an excellent plan.
            HSBC has probably been discussed elsewhere, but I can't locate it.
            1. Does 2% cashback on eligible purchases under $100 include exactly $100?
            2. Re: "These only apply to whole transactions under $100";
            Can you do split payments between HSBC ($100) and another funding source & be eligible?
            3. I know that it is a maximum of $50 cash back PCM, but is there a daily limit for 'eligible transactions'?
            4. Is there any reason that you don't have your pay going into the HSBC account to fulfill the deposit requirement?
            Thanks.

            • lattesipper on 03/02/2024 - 16:59
              +2

              @Peck:

              1. The requirements are to be contactless payments no pin, so $100 or less.
              2. Split transactions are fine, you can even do split transactions on the same card, I do this on self serve checkouts but not elsewhere as they give me weird looks.
              3. No daily limit, they say certain types of transactions are excluded, realistically I've never had an excluded transaction though.
              4. My pay goes into my ubank saving account so it's getting 5.1% interest, then all direct debits etc are from there. This way I get the most interest without having to manually move money around. My pay varies fortnightly so it would be annoying to automate the transactions and keep the everyday balance within my preferred range.
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