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  1. Post
    #1

    Best Credit Card?

    yo. I have a big credit card that the BNZ gives me at my home loan rates (~5%) which I use for when I want to invest in stuff but don't have the money on hand.

    I know of a few people however, who have credit cards that are linked to decent rewards, and it seems if you can structure your expenses in such a way that everything is going through your credit cards, and then you're paying those off in full each month, that you can do quite well? Does anyone have a cc that works well for this, when accounting for the yearly fees etc?

  2. Post
    #2
    I do this and get around $4-500 worth of rewards each year (which I typically just redeem as Bunnings/other retail vouchers when I need things) + a free Air NZ flight, with American Express. I also have the lowest tier of card with Westpac for where AmEx isn't accepted.

    Not exactly a huge benefit but its better than nothing. Fees are $150 annually for the AmEx and around $40 for the Westpac card.

  3. Post
    #3
    I use BNZ Visa platinum and we generally get a free holiday out of that every year or so.
    The BEST card for airpoints return on spending is an AMEX card but not many places accept it so its kinda not really a great option.

    I run all my expenses through our credit cards.

  4. Post
    #4
    umm onecard visa is $65 a year in fees
    you get double reward points when you use it at countdown or countdown online
    every where else you get 1 point for every $10 you spend (I think)
    every 200 points you get a $15 countdown voucher to spend at countdown or online countdown
    delivery is free on online orders when you spend over $200 on an online order using your onecard visa

    about every 3rd order we place online we get a $15 reward voucher

  5. Post
    #5
    nzbleach wrote:
    I use BNZ Visa platinum and we generally get a free holiday out of that every year or so.
    The BEST card for airpoints return on spending is an AMEX card but not many places accept it so its kinda not really a great option.
    I've been using an AmEx for around 6 months now and pretty much every major store (both physical and online) accepts them, the only places that don't are usually smaller shops like cafes etc. I hardly ever have to use my Westpac card.

  6. Post
    #6
    nzbleach wrote:
    I use BNZ Visa platinum and we generally get a free holiday out of that every year or so.
    The BEST card for airpoints return on spending is an AMEX card but not many places accept it so its kinda not really a great option.

    I run all my expenses through our credit cards.
    true.... this is not bad.. https://www.americanexpress.com/nz/a...e-credit-card/

    Seems really decent if you pay it off in full all the time

  7. Post
    #7
    I have the bnz vantage classic

    https://www.bnz.co.nz/personal-banki...8aAjSZEALw_wcB

    It's ok. $1 cash back for every $150 spent. $40 yearly fee.

    Platinum might be better for you.

  8. Post
    #8
    ASB Visa Platinum is for my spending - $80 yearly fee with $100 spent giving you 1 reward point (basically $1)

    I use my additional low tier Westpac credit card with a $25 yearly fee to do get those interest free balance transfers when needed.

  9. Post
    #9
    The Amex Airpoints card is a good deal; $0 annual fee, AP$1 for every $100 spent, bonus AP$75 if you spend $750 on it in the first three months.

    I just cancelled my ANZ Platinum. Had it for a year as they had a promo for one year fee-free, earned a boatload of Airpoints at AP$1 per $75. Signed up for a Kiwibank Platinum card with the same earn rate with two years fee-free, and I'll cancel that when the two years roll around if I can't get the fee waived and sign up for whatever the best offer is at the time.

  10. Post
    #10
    The fee is really important just going by what people have posted above you would have to spend $6,000 - $8,000 per year just to cover the fee.

    The fee free AMEX airpoints card is probably a better option.

    The earn rate is $1 per $100 spent which is the same as if not better than some of the cards with fees.

  11. Post
    #11
    I've gone for BNZ vantage platinum. For a family of four, our yearly expenses make it worthwhile. We have a number of expenses that add up pretty quick and Id say if you run all your bills through it, most folks would click over the $8k mark really easily.

    Our groceries alone would average out to $10.5k a year. (yay kids needing nappies and formula etc)

    Add to that insurance for house and car, rates, powerbill, internet, cellphones, netflix, Petrol, and so on, it's heaps

    in fact in just doing the maths i'm now depressed

  12. Post
    #12
    OK let's say your spending was $50k per year:

    BNZ Vantage @ $1 per $90
    $555.56 - $90 annual fee = $465.55

    AMEX Airpoints @ $1 per $100
    $500.00 - $0 annual fee = $500.00


    If we up the spending to $100k
    BNZ Vantage = $1,021.11
    AMEX Airpoints = $1,000

    BNZ finally pulls ahead by $21


    OK we are talking cash vs airpoints but it shows how much the fee eats up.

  13. Post
    #13
    If you call just about any bank and tell them to wave the fees they will.

  14. Post
    #14
    Privoxy wrote:
    If you call just about any bank and tell them to wave the fees they will.
    Not if all you use them for is the credit card

  15. Post
    #15
    brand wrote:
    OK let's say your spending was $50k per year:

    BNZ Vantage @ $1 per $90
    $555.56 - $90 annual fee = $465.55

    AMEX Airpoints @ $1 per $100
    $500.00 - $0 annual fee = $500.00


    If we up the spending to $100k
    BNZ Vantage = $1,021.11
    AMEX Airpoints = $1,000

    BNZ finally pulls ahead by $21


    OK we are talking cash vs airpoints but it shows how much the fee eats up.
    Yeah, but the issue with Amex is it isn't universally accepted - so you generally need a two-card approach unless you're happy to accept that you don't get points on non-Amex transactions.

  16. Post
    #16
    I get about 90-100 airpoints a month on Westpac credit card, I'm pretty happy with that.

  17. Post
    #17
    brand wrote:
    OK let's say your spending was $50k per year:

    BNZ Vantage @ $1 per $90
    $555.56 - $90 annual fee = $465.55

    AMEX Airpoints @ $1 per $100
    $500.00 - $0 annual fee = $500.00


    If we up the spending to $100k
    BNZ Vantage = $1,021.11
    AMEX Airpoints = $1,000

    BNZ finally pulls ahead by $21


    OK we are talking cash vs airpoints but it shows how much the fee eats up.
    Lets say 60k a year
    Westpac Platnum Mastercard $125yr fees
    $1 = 2points
    3600points = $20 voucher
    120,000 points per year = ~$540 after fees per year

    Westpac World
    $1 = 3points
    3600 points per $20 voucher
    180,000 points per year = 1k in vouchers even after massive fees get $610 a year


    Pretty sure you can get Westpac Platinum fees free when you sign up for a year or 2 also

  18. Post
    #18
    We pay everything through our westpac credit card. We get hot points, which work out to be about $1000 a year...at least. We just redeemed $1000 of farmers vouchers, and $500 of briscoes, and I have another $200 ready.

  19. Post
    #19
    wigglywormnz wrote:
    Lets say 60k a year
    Westpac Platnum Mastercard $125yr fees
    $1 = 2points
    3600points = $20 voucher
    120,000 points per year = ~$540 after fees per year

    Westpac World
    $1 = 3points
    3600 points per $20 voucher
    180,000 points per year = 1k in vouchers even after massive fees get $610 a year


    Pretty sure you can get Westpac Platinum fees free when you sign up for a year or 2 also
    $60K spend would get you $600 airpoints dollars on the AMEX.

    Fees matter. That was my point. If you can get it fees free then go for it.

  20. Post
    #20
    BNZ Platinum and we don't appear to be paying any fee for the moment anyway. Earn $1 cash back for $90 spending, cash back get paid each month.

  21. Post
    #21
    knack wrote:
    BNZ Platinum and we don't appear to be paying any fee for the moment anyway. Earn $1 cash back for $90 spending, cash back get paid each month.
    1 for 90 isn't very good.

  22. Post
    #22
    Was looking at getting a rewards card here for my company but yeah theres nothing here that is even remotely attractive. My yearly send is somewhere in the region of 350-400k but most cards seem to sit around the 1-1.2% cash back / airpoints. The other issue is banks start charging me a 2.2% foreign currency fee if i move my sending to NZ rather than running it via paypal

  23. Post
    #23
    Yeah the foreign currency hits me hard as i buy near everything in it. Still better than Paypal conversion rates for spending though.

  24. Post
    #24
    I just keep a float in paypal so no juggling currencies back/forth. Shame NZ has such dogshit business cards. The other huge downer is every bank I've met with want me to co-sign a company card personally?

    With 2-3 years profit/loss history etc I don't get why a bank would demand a card to be co-signed other than they are hedging their bet? Instead of doing any kind of business analysis they just make you co-sign personally and if things go south they just come after you directly instead of the company?

  25. Post
    #25
    Getting up to 50 days credit and a percent cash back is a pretty good deal for a business card.