paddy234

Me and my partner are thinking of getting a ASB credit card that gives you 1 true reward dollar to shop in selective stores and websites for every 100 dollar spent. This would mean all purchases, shopping, billing to small things such as mc donalds etc would go on this card to accumulate dollars. As soon as we use the credit card we would transfer the money straight away so we aren't charged interest. I was wondering has anyone ever tried this and is it really worth it? Cheers

Bo-Jangles

It most certainly can be worthwhile if you have the discipline to pay the bill on the day (or before) it's due. The rewards soon add up and even more so if you can get a Platinum card. You have to watch out for the fees though, I don't pay any but I think that's because I got some affiliated link or incentive from some other offer but can't remember from where - otherwise it costs $80 pa and that may wipe out any benefit before you start.

I just cashed in $220 of rewards yesterday for some new 'Manchester' in Farmers - its very satisfying to think it saved me from needing a second mortgage for a new bedspread.

Charismatic

Yes, the card fees tend to really kill any gain in the second year (they don't charge fees for the first year usually.) Just get them to waive the fee every year or move your credit card between banks to avoid any fees.

It works out to about 0.5 to 1% cash back depending on the scheme. So, unless you're a high roller...

Clappy

We have a credit card that provides cash back - 0.5% on the first $10,000 spent each year and 1.0% above that.

The annual fee is $125 although Mrs Clappy works for the bank so there is zero annual charge for staff.

So we use it for almost everything.

Watch out though that some retailers add a surcharge for making payment using a credit card and if they do then the extra charge may negate the cashback. The interest rate is steep too so pay the bill in full every time to avoid being charged interest.

Bob

Wow...those rewards sound a bit stingy?

No Amazon card? It's not even the best out there, but 5%back on Amazon purchases, 2% back on petrol/restaurants/pharmacy purchases, 1% on everything else. No fee either. We chuck everything on it and then use the rewards to pay off the card, rather than use it on Amazon purchases or what not.

Stuck in Auckland

We get 20% off our groceries every time we shop, and that's after all the discounts and special offers.

paddy234

What would be the best reward card? Thanks

Bob

Depends what you're looking for, I guess. There's a thread in the US section for those looking for travel miles that has loads of info.

We only use the Amazon one as we use it all the time and don't want too many cards so it works well for us.

Bo-Jangles

https://www.canstar.co.nz/credit-card-rewards/

Amex usually comes out best in the surveys but you'll never be able yo use it to full potential as a lot of places won't take it. I had one for a while but soon got sick of managing two cards, as I needed to have an alternative option for all the times when I couldn't use it.