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Using credit card to pay for everything?

Using credit card to pay for everything?

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Old Dec 28th 2017, 4:02 am
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Default Using credit card to pay for everything?

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
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Old Dec 28th 2017, 4:24 am
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Default Re: Using credit card to pay for everything?

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.

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Old Dec 28th 2017, 5:45 am
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Talking Re: Using credit card to pay for everything?

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...
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Old Dec 31st 2017, 2:29 am
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Default Re: Using credit card to pay for everything?

Originally Posted by paddy234 View Post
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
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.
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Old Dec 31st 2017, 3:09 am
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Default Re: Using credit card to pay for everything?

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.
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Old Dec 31st 2017, 4:53 pm
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Default Re: Using credit card to pay for everything?

Originally Posted by Bob View Post
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.
We get 20% off our groceries every time we shop, and that's after all the discounts and special offers.
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Old Jan 2nd 2018, 12:55 pm
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Default Re: Using credit card to pay for everything?

Originally Posted by Bob View Post
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.
What would be the best reward card? Thanks
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Old Jan 2nd 2018, 5:52 pm
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Default Re: Using credit card to pay for everything?

Originally Posted by paddy234 View Post
What would be the best reward card? Thanks
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.
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Old Jan 6th 2018, 6:18 am
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Default Re: Using credit card to pay for everything?

Originally Posted by paddy234 View Post
What would be the best reward card? Thanks
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.
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