Credit Cards and Credit Card Points, Point Me in The Right Direction

• 

  carwashhair on 19/03/2024 - 07:25

  +4

  Ask yourself first 1) Where you want to travel (and also possibly with which carrier) and 2) where and who do you spend with? This can narrow down which Frequent Flyer program to begin accumulating points with, and then what card will bring the most points for where you spend. Remember, unless you're putting $15-$20K a month through e.g. as business payments, the most points are to be gained via signup bonii and 'churning' cards (opening for the bonus points then closing, rinse and repeat).

  There's a lot more knowledge that I'm sure other people will contribute, but this is a good place to start. After that you can start to consider things like reward availability (i.e. will the program have tickets that are easily bookable with points, to places you want to go?) etc etc.

  • 

    xtraricepls on 19/03/2024 - 12:40

    So when you 'churn' cards, you open then close a card but keep the points to your name until such time that is usable?

    Remember, unless you're putting $15-$20K a month through e.g. as business payments - i know some people that aren't business owners but manage to get free flights every 2 yrs or less. Granted they prolly earn a bit more than me but they have been doing it. I keep forgetting to ask them though

• 

  Dollar General on 19/03/2024 - 07:46

  +8

  You’re not missing out on anything. I wouldn’t get a credit card solely for points as the redemption rates get worse every year

  • 

    beyonddd on 19/03/2024 - 10:19

    +2

    Any form of a missed payment or overspending (either to meet spending amounts or because you feel like you have some extra $$) completely and utterly negates any benefit you will ever receive on these cards.

    • 

      freefall101 on 19/03/2024 - 11:20

      That's why they offer it, the number of people who carry a balance on their credit card in this country is quite staggering.

      That said, the only time I ran up some emergency debt I just did a balance transfer to a 0% card and stopped churning until it was paid off. Didn't really cost me anything.

    • 

      xtraricepls on 19/03/2024 - 12:42

      So there's a minimum spend on the cards?

      • 

        beyonddd on 19/03/2024 - 13:16

        +1

        They usually have spending amounts to hit that will give you the bonus points. They range from 3k to 9k in 90 days normally.

        • 

          xtraricepls on 19/03/2024 - 15:20

          @beyonddd: Ah. That's the part i didnt know about. That's actually a lot

          • 

            Bruskey on 19/03/2024 - 19:09

            @xtraricepls: You will be surprised at how easy you can acheive the minimum spend. If you just change your spending habit to do everything on the card most people should be able to acheive the required amount. Worst case scenario, time the application for a few weeks before you plan to buy something significant like a TV, washing machine, car service, annual insurance etc. Other than that you could buy a bunch of giftcards on it then redeem them over time at places you would normally shop like supermarkets, amazon etc.

            • 

              Arick on 02/04/2024 - 21:30

              -1

              @Bruskey: Gift cards are generally on the list of exceptions to the minimum spend for these programs and so don't count.

  • 

    Bruskey on 19/03/2024 - 10:34

    +3

    He actually is missing out. Anyone not using a rewards credit card is literally throwing money away. It sounds like he knows how to manage his money if he has gone 38 years without a card so paying interest on the card shouldnt be an issue. There are so many options out there and if you slightly change your spending habits you can literally rake in free money every month. An example is the Coles Rewards Card. $99 annual fee, with 50k bonus points ($250) at the moment. Thats 2.5 years worth of the fee covered, before you even start earning bonus points. I am redeeming between $30 - $50 a month of Flybuys points at Coles. It feels like everytime i shop i am redeeming $10 off. Over the course of a year thats almost $500 free money that you dont get by using a basic bank card to shop.

    • 

      xtraricepls on 19/03/2024 - 12:50

      I think i manage my finances farely well (own house, 2 cars paid off , about 150k+ in savings) as a family we dont really spend much aside from groceries, eat in a restaurant once or twice a week , holidays are usually in asia so not that expensive. I guess the coles card is one thing i should be looking at, thanks for that. but man, i want those free flights :p

  • 

    xtraricepls on 19/03/2024 - 12:41

    So what are redemption rates? Lol

• 

  87percent on 19/03/2024 - 07:47

  https://flighthacks.com.au/

  Have a look at this site

• 

  JimmyF on 19/03/2024 - 09:00

  -1

  but from what i hear i maybe missing out on "points" from credit cards which most people use for flights and leisure

  You're not…..

• 

  sumyungguy on 19/03/2024 - 09:58

  Domestic only? Choose between Qantas and Virgin/Velocity. For international, deceide whether you'd rather redeem on Oneworld or Star Alliance airlines, then choose a card that earns your desired points brand at the lowest cost (plus annual card fees). I prioritise QFF points, earn around 1.1 points per dollar (Amex + Mastercard) and only redeem on the oneworld Classic Flight Reward @132,400 points in economy.

  • 

    xtraricepls on 19/03/2024 - 12:53

    Im looking for international ones. So i just get amex and i can earn those points?

    • 

      sumyungguy on 19/03/2024 - 12:57

      I'd suggest Qantas Amex Ultimate plus a fee-free Master/Visa for the approximately 25% of spending you can't do on Amex.

• 

  Danstar on 19/03/2024 - 11:49

  +2

  I don't like the idea of spending my own money until I really have to.

• 

  capslock on 19/03/2024 - 18:11

  Not really worth it for an average salary earner putting average expenses on a card.

  It is only worth it if you have large amounts of business expenses you can put through on a card or have the energy to apply for new credit cards every few months to get the sign up bonus.

  • 

    fLaMePrO on 25/03/2024 - 18:46

    +1

    Hard disagree, maybe you're looking at the really high spend cards? Generally most of the good deals have a min spend of like 3k in 90 days / 1.5k a month. You would have to be pretty frugal to not be spending those amounts! Just put all your bills on there and you're set.

• 

  timhn on 29/03/2024 - 19:50

  OP, if you like to get points to travel then first need to sign up to either Qantas frequent flyer or Virgin Velocity program (or both). They are free to join.

  Then check at big4 websites to see which promotion best suitable for your preferred frequent flyer program. You can also check at Citibank and HSBC as well.