Best Credit Cards with Reward Program

John on 22/01/2009 - 16:54
Last edited 22/01/2009 - 16:55

Hey folks,

Due to my recent horrendous experience with CITI bank, I'm considering to get another credit card. What I'm looking for is:

  1. Low Annual Fee
  2. Good reward program (better if can be transferred Velocity/FF).

BOQ has a good one where there $0 annual fee and a Q-Rewards program. But it's not linked with Velocity/FF.

ANZ Balance Reward is okay that I would get 1 point per $1 balance repayment (including paying annual fee). Except that their annual fee is $79.

As much as I love my rare CITI with no annual fee. I'm still a bit hestitant on continuing to use it.

Anyone has a good recommendation??

Cheers!

Find Me A Bargain

Comments

  • fatice on 23/01/2009 - 15:01

    So much for the reward program and point counting. At the end, it is less than 1% rewards.
    e.g. Commonwealth gold card has 1 point per $. I need to have 4100 points (they silently increased it from 3900 to 4100) to get a $25 fuel voucher or $20 cashback. That is 20/4100=0.48% return on top of their high annual fee.

    Here is a 1% reward card with $79 annual fee.
    BP Citibank has 1% return on all purchases on the first $60000 you spend. No point counting, no redemption on the stuffs that you don't need. Pure cashback. Spend $2000 to get $20 back.

  • [Deactivated] on 23/01/2009 - 15:13
    +1

    Myer have a card its 1% on all you spend ie spend $2000 get $20

    http://www.myer.com.au/cards/myervisacard.asp

    annual fee is $39 a year

    Only thing is you get Myer prepaid card vs cash with Citibank but annual fee is lower.

    You need Myerone card but thats free and you get 3 points per $ on spend at Myer vs one point per $ elsewhere.

    So as long as you can or are willing to spend your reward at Myer its about the best value around.

    And if you do it in store the sales person should like you as they get $10 for a sign up

    • scotty on 26/01/2009 - 14:05

      Great card! Myer credit is a bit useless to me though as I don't shop there. Do they come as credit to your card or as a voucher? If it's a voucher then they make great gifts.

      • [Deactivated] on 27/01/2009 - 00:32
        +1

        nota voucher its a prepaid card so yes it can be given as a gift - maybe here at ozbargain LOL

  • John on 27/01/2009 - 09:49

    Myer sounds like a good card indeed. About 10% return.

    I just wanna know if theres any good cc that links to velocity/ff as I've been travelling lately and wanted to top up the points so I can get free flights for next trip.

    but so far, it's either high annual fees or bad $$ to point conversion.

  • Xperia on 27/01/2009 - 14:10
    +1

    I have Myer card and they are great if you pay full amount each month. They often promotion 1 dollar = 4 myer points which is great. Beware if you travel o/s, please don't use this card. They have terms and conditions that I forgot to read…. International transaction fee 3% of the Australian dollar amount of the international transaction. Whereas Citibank Gold that I have…didn't charge any fee for international transaction with better conversion rate.

    Yes, Myer points will convert to gift card that you can use as gift if you want.

  • rack on 29/01/2009 - 06:14

    its so confusing with the amount of credit cards there really are.
    check out this site for comparisn on credit cards.

    http://www.productreview.com.au/

    before you decide to take any

    Edited by Mod

    • HueyData on 29/01/2009 - 07:20

      Direct link without paid affiliate/member code is http://www.productreview.com.au/category.php?cat_id=1304.

      This website looks incredibly dodgy. From the Product Review Affiliate Program page:

      You are invited to partner with ProductReview.com.au – Australia’s leading consumer opinion brand. Take this opportunity to increase your website’s revenue and offer a valuable enhancement to your content. This is the only Australian Pay Per Click (PPC) affiliate program which pays for each click as well as for each submitted review, thus enabling you to earn more!

      Our Offer

      • Earn AUD 0.05 (5 cents) for each unique visitor you send to our site
      • Earn AUD 0.5 (50 cents) for each approved review submitted by your visitors
      • One year repeat action cookie
      • AUD 10 limited time sign up bonus

      How It Works

      • Complete a short application form and we will instantly register and approve your new affiliate account.
      • Login to your affiliate management area to access your personalized HTML links and banners.
      • Copy and paste your personalized code into your website, blog, MySpace or newsletter to start earning!
        Note: Affiliates who use automatic traffic generation and traffic exchange systems to drive traffic directly to our site will not be paid.
      • Payments will be made monthly via PayPal, check or direct wire transfer into your account as soon as your affiliate account balance reaches AUD 50.

      Join Now and Get 10$ Signup Bonus

      See also ProductReview.com.au Affiliate Scam and The w ww.productreview.com.au scam.

  • scotty on 10/03/2009 - 20:42

    Just updated the Credit Card Rewards Comparison wiki page because Citibank has updated the reward program of their BP Master card.

    Before

    • 5% cashback on BP purchases, up to $300 spending each month.
    • 1% cashback everything else, up to $5000 spending each month.

    After 4 May 2009

    • 5% cashback on BP purchases, up to $600 spending each month.
    • 0.5% cashback everything else, up to $5000 spending each month.

    Bad. That's pretty bad — bad enough that I am thinking of changing the credit card. Big thanks for everyone (especially Neil) for updating the wiki — it would be useful for me now.

    • neil on 10/03/2009 - 22:37

      Wow, that's pretty bad. Guess it was good while it lasted. What card are you thinking of changing to? The Citibank Cash Back card looks tempting, 1% back on everything.

      • scotty on 11/03/2009 - 12:20

        Yeah that looks good. Slightly cheaper than BP card on the annual fee front, and does not bound us to pump up at BP. Relatively small credit limit is not concerning us — we will be mad putting $20k on credit card at this 20%+ interest rate. However it's currently not available…

        Hopefully BP is not planning to adjust its cashback rate to 0.5% as well.

    • Pigey on 11/03/2009 - 22:50

      That's shocking.

      Time to cancel this card and use my other ones more now.

  • harryv on 12/03/2009 - 10:30

    First post here guys, hope Im not telling you something you already know.

    Just applied for the Myer Visa Card after reading your comparison chart and the terms and conditions now says that the annual fee is waived for the first year. Isn't that another $39 saving?

    Hope this helps

    Below is copied from the T&C page

    (Rates are variable and are subject to change. Current as at 1 February 2009.)
    FEES AND CHARGES
    Annual fee $39, waived for the first year
    Additional cardholder fee $9 per year per additional card and is charged on the same day as the annual fee
    Cash advance fee 3% of the cash advance or cash equivalent transaction or $1.95, whichever is the greater
    International cash access fee (ATM) $4, in addition to the cash advance fee
    International counter transaction fee $5, in addition to the cash advance fee
    International transaction fee 3% of the Australian dollar amount of the international transaction
    Late fee $35
    Overlimit fee $30
    Direct debit dishonour fee $2.50
    Cheque payment dishonour fee $10
    Payment handling fee $1.50, which is not payable for payments made in-store at Myer, by mail, by direct debit or by BPAY.
    Voucher retrieval fee $7, unless the voucher shows that no cardholder authorised the transaction
    Repeat statement fee $7
    Trace fee $30, if you are overdue and you have changed address without notifying us
    Special promotion fee $25, on each occasion you make a purchase subject to a special promotion unless the conditions of the promotion state that the fee will not be charged
    Account service fee $2.50 per month if the balance of your special promotions is $10 or more at the statement date

  • rodzy on 25/03/2009 - 11:24

    Thanks for all this feedback, team. Sooo hard to work it all out and somehow stay in front. Does anyone have "Velocity" with NAB? Is it worth considering? Cheers.

  • Pigey on 06/07/2009 - 19:07

    Does anyone have this letter saying that the cashback rate will change 4 May 2009?

    I am disputing this with Citibank and they said it will change it 4 April 2009.

    Thieves.

  • benr3 on 08/07/2009 - 14:30

    Hey guys,

    I Have a number of credit cards with rewards programs.I think the best one for earning velocity points are my Westpac 'Altitude' cards. I have a visa and a linked American express card, 1 pt per $ on the Visa and 2 pts per $ on the Amex, having two cards take my annual fees upto $150 but there are two things that easily off-set that cost for me.

    Firstly Westpac have thousands of 'bonus partners' ( these are stores that I can earn extra points at )

    for example - if I spend in harvey norman with my amex I earn 2 'base points' and 3 'bonus points' which means I'm actually getting 5 pts per $ !!!

    Secondly my altitude points don't expire after 3 years like my other rewards points do. this means I can actually save up enough points for a flight before I transfer them to Velocity.

    I bought a new TV the other day and thanks to my altitude card I can now get a free flight from sydney to melbourne!

    I hope this helps you out

  • discounttalk.com.au on 20/07/2009 - 10:52

    I have some credit card deals mentioned at:
    REMOVED by Mod: No affliate links

    It should give you a comparison of credit cards available in Australia.

    • scotty on 20/07/2009 - 12:16
      +1

      And always use MoneyBackCo or other moneyback websites (Buckscoop, OzRewardS, etc) to get the affiliation commission back, if you do not want those credit card comparison websites (yeah, the Internet is litered with them) to take your cashback :)

  • Blinda on 14/10/2009 - 11:27

    I'm thinking about same thing right now. Might give myerone a go and keep citibank as a back up

    • PyjamaMum on 15/10/2009 - 01:28

      Myerone is actually a free loyalty program associated with Myer (like Flybuys are associated with the Coles Group). The Myer Card is the actual visa card. Many of our customers tend to get confused and think that the myerone card is the credit card.
      *(I work @ Myer)

      • [Deactivated] on 20/10/2009 - 04:26

        LOL great if it works - that being to use your Myerone card to make purchases!!!

  • coolsteps on 26/02/2010 - 01:08

    the only cc that links to velocity/ff that i know off is with NAB. however some others like amex and citi offer points tranfer to velocity. nab gold ant card was great when it first come out with the first year free i got many points. But had to cancel it after 1 year since NAB wont budge on the $149 annual fee .

  • [Deactivated] on 27/02/2010 - 23:59

    HSBC Gold Card hands down. $89 annual fee but you get 1 year extended insurance on all purchases and free travel insurance. We currently buying heaps new kitchen appliances. So, 1 yer extended insurance pretty much makes this card worthwhile.
    Bankswest have similar card but then no rewards program. So, depends how much you use your card. Personally I would stay with Bankwest and they have very slow process and very disapointing customer service.

Login or Join to leave a comment
Login Join