Qantas Credit Card Vs Gift Card Credit Card

• 

  hocus on 11/02/2024 - 13:12

  +1

  Purely from a bonus offer perspective, ANZ looks better by far (assuming you personally value/use QFF points).
  $12,000 is a lot to spend for a CC bonus as well, but less pressure as it is over 365 days.
  As you can see you get about 15.5% return with ANZ, or only 4.8% with StG.

  Bonus Offer Spend Req:
  StG: $12,000 over 365 days
  ANZ $5,000 over 90 days

  Bonus Offer Value:
  StG: $675 in GC - $99 Fee = $576 Gain
  ANZ: $1,000* in QFF points** + $250 cashback - $425 Fee = $775 Gain

  Return on Spend:
  StG: $576/$12,000 = 4.8% Return
  ANZ: $775/$5,000 = 15.5% Return

  (*30,000 QFF point offer is only available after 12 months, so has been ignored assuming you are churning.)
  (**Assuming avg. 1c point value. ~0.5c/point If using QFF for GC. Up to ~4c/point if redeeming Business/First class flights).

  • 

    djkelly69 on 11/02/2024 - 15:55

    Return on spend feels like a weird metric.

    I wouldn't get the card if I couldn't meet the spend criteria through 'normal' purchases, so they are somewhat irrelevant to the value calculations.

    • 

      hocus on 11/02/2024 - 16:08

      +2

      I agree with your sentiment that you shouldn't exceed your 'normal' spending just to get the bonus. What I'm trying to indicate is the opportunity cost.

      If OP is going to spend $12,000 in 365 days regardless, and signs up for the St George CC, they are forgoing better ways to use/allocate that expenditure.

      You could get a far better return splitting that expenditure across 3-4 credit cards offers ($3000-$4000 each). You could probably go to the OB Credit Card deals tag, sign up for any random 2-3 and come out with better value than this St George's offer.

      Unless OP has already churned through all other credit card providers and is waiting for the 12/18 month cool downs, this seems like a pretty poor way to utilise their regular expenditure.

      • 

        Anon257 on 11/02/2024 - 16:57

        +1

        @hocus thanks for the detailed calculation!
        And you raise a very good point that Instead of using the St.George card for a year, I could churn two other cards with that amount of spend.
        I have recently done AMEX, Westpac churns, currently have a small CommBank card and a Virgin money card.
        So I think i'll do the ANZ card next then maybe a CitiBank or NAB card.

        Have a great day!

        • 

          jacobb on 11/02/2024 - 18:06

          +1

          @Anon257: If you have done a Wespac card in the past 12 months you can’t do the St George card.

          • 

            hocus on 11/02/2024 - 18:15

            @jacobb: Where did you see that? A quick glance at the T&Cs says only St.George, Bank of Melbourne or BankSA customers are excluded.

        • 

          hocus on 11/02/2024 - 18:13

          @Anon257: You're welcome. If you're still looking I recommend RWRDS as a good starting point.

          Whilst it isn't comprehensive, it provides a list of most current CC offers all at a glance. Happy churning!

    • 

      megadeth on 11/02/2024 - 16:13

      +2

      Getting more bang for your buck: a stackable 15% return on everyday expenses! I personally went for AMEX Ultimate (120,000 QFF points on $3000 spend in 90d) $450 annual fee & $450 travel credit).

      • 

        hocus on 11/02/2024 - 16:32

        +2

        Bang for your buck is a better way to put it!

        In OPs case the could go for Qantas Amex Ultimate ($3000) + the ANZ Qantas Black ($5000), and still have have $4000 in unallocated expenditure.

      • 

        Anon257 on 11/02/2024 - 16:41

        +1

        Thanks, I'd love to do the AMEX Ultimate offer but I made the mistake of holding a starter AMEX card for 4 years. It was my first credit card so I just kept it..
        Now i have to wait 18 months before getting another AMEX offer.

• 

  Drakesy on 11/02/2024 - 17:16

  +1

  ANZ also has the rewards black which is a closer comparison.

  This is apples with oranges.