AMEX Qantas card vs Black or Platinum card from Big 4

[DavBlayn]

On a domestic and international scale, how widely accepted is American Express? If I need to get a MasterCard/Visa for purchases where AMEX isn't accepted, would it be better to just get both cards from a major bank, or just to get an AMEX card and a low-fee MC/Visa separately?

In essence, is it worth getting an AMEX Qantas Platinum card if it isn't accepted in many places, or would it be better value to get a Platinum or Black card from a a major bank. How much money would you need to spend to make the annual fee of one of these credit cards worth it?

Sorry if my question is a bit obtuse, the real question I'm asking is whether a Premium/Ultimate Qantas CC from AMEX would be better value than a MC/Visa card from a major bank.

 

[jlien]

It varies by country.
Locally, most majors will take amex (sometimes with a surcharge), everyone will take visa/mc.
You couldn't get by without a non-amex here in Aus, unless you plan on just settlling things with cash/eftpos.

Big 4 bank issued cards offer the convenience of having both on the same account. But usually the earn rates on the visa/mc tend to be on the poorer end of the scale.

 

[DavBlayn]

So, if I were to compare, say, the Westpac Black card with the AMEX Qantas Ultimate card, based on earn rate and extra features like insurance etc., which one would you say is better?

 

[albyd]

Westpac Black Amex will give you consistently more points (1.5ppd) than Amex ultimate at 1ppd.

As for insurance, recommend you compare the T&Cs. Might also get the Westpac Black for free if you have a home loan package.

I'd pair that up with any one of many point per dollar MC/Visa cards - capped or uncapped points and annual fee should be key variables in your decision.

 

[exceladdict]

I've held the Qantas Amex Ultimate for about 11 months. Won't be renewing unless they drop the $450 annual fee for me.

When I signed up, it was a $250 annual fee in exchange for a return QF flight from PER to SYD/MEL/ADL and 50k bonus points. At $250 I thought this was easily worthwhile. It arguably is at $450 too but ongoing without the 50k bonus, i'm basically just buying a return QF ticket for $450.

The 3 PP$ at restaurants are good, my local Indian restaurant takes Amex, so it earns me 100 points a week there. Also good for buying Qantas flights (3pp$) and other general travel spend (2pp$) but as has been pointed out earlier, it's not great for everyday spend at 1pp$.

Also, the insurance is quite restrictive compared to say my BankWest QF World MC. The Amex is quite limited in terms of covering travel companions.

My 2c anyway! Feel free to hit me up with any specific qs about the card.

 

[DavBlayn]

I reckon I might just get the Westpac Platinum for $150 p.a., and then see what comes up when I want to move up to something better. A card with complimentary insurance and access to the Qantas Club sounds appealing, but right now we're just being charged too much for these cards from the major banks.

 

[albyd]

Depending on your spend, I wouldn't bother with the Westpac platinum as it has a low points cap and the Amex is only 1ppd. Would rather get a point per dollar visa/MC for a reasonable annual fee & not worry about if a merchant accepts Amex and will they surcharge it.

 

[DavBlayn]

According to QantasPoints.com, these are my options if I were to go down that route:

* HSBC Platinum Qantas Credit Card
* Jetstar Platinum MasterCard with Qantas Points
* Macquarie Visa Platinum Card
* Citibank Signature
* Woolworths Money platinum credit card
* Frequent Flyer Diners Club Card with World MasterCard
* Qantas Credit Union Platinum Credit Card

The card from Macquarie looks like it would be the best in my opinion, but that's probably just because I'd trust Macquarie with a credit card more than Woolworths.

 

[Isochronous]

According to QantasPoints.com, these are my options if I were to go down that route:

* HSBC Platinum Qantas Credit Card
* Jetstar Platinum MasterCard with Qantas Points
* Macquarie Visa Platinum Card
* Citibank Signature
* Woolworths Money platinum credit card
* Frequent Flyer Diners Club Card with World MasterCard
* Qantas Credit Union Platinum Credit Card

The card from Macquarie looks like it would be the best in my opinion, but that's probably just because I'd trust Macquarie with a credit card more than Woolworths.

The Woolworths CC is run by Macquarie.

 

[DavBlayn]

The Woolworths CC is run by Macquarie.

Oh, didn't realise that.

 

[jlien]

If you're set on qantas points, then the premium product from any of the big 4 banks will earn you 1.5ppd on the amex. Annual fees vary, but at any given time there's usually a promotion on that'll waive the fee for the first year plus a large sign on bonus.

The attached visa/mc on these products don't earn so well, typically 0.75ppd. They will lose out to a dedicated card like WW, citi, Jetstar, hsbc which will earn 1ppd, however none of these cards are free so you'll need to weigh up whether your expected visa/mc usage will justify the fee for an extra 0.25ppd.

How much do you expect to be putting through your credit cards? how much of that do you think can be put on the amex? In answering these questions you can work out what your optimum coughnal of cards is. You may find that a bank issued amex+mc/visa combo isn't great value for money than a single WW EDR card.

 

[DavBlayn]

Generally speaking, which card provider gives you the extra benefits like insurance and QP passes at the best value? Would it be worth getting an AMEX Premium and a no annual fee MC/Visa, or just a high-end awards card with a bank?

 

[mooingchicken]

From this and your other posts seems like your running into everything head first, slow down a little and look around.

How much money do you plan on putting on the card? getting the best highest earning card is a waste of money for a lot of people.

Most cards only give 2 QP passes a year (worth about $50 each) (or free if u get them on here)
Insurance, how often do you travel?

If you only put say 15k a year on them your only going to earn around 15-25k worth of points. now different people value points differently. but say you got 25k of points and we value them at 2c per point, you have made about $500 worth of points. now if you spending $450 a year on the card, your basically not getting any advantage and a waste of money. now you might earn a little less on another card lets say 18-20k points, this might only cost you 120 a year but is $400 worth of points. net value to you is $280 plus the perks.

Now also bear in mind the pitfalls of points, especially from what i have read with qantas, Business flights go very quickly, you have to plan your trip 353 days in advance. points are no good if you cant find a flight that suits.

Most people with black/plat cards and 300-450 a year fees are generally putting big $$ through them for them to be worth it. ie. I wouldn't personally bother unless i either got the card for free (promo) or was spending 50k a year or there abouts.

I have 3 cards currently.
ANZ black (free promo) - Only value im getting off this is the sign on bonus, a few extra points (but not worth the annual fee to me) and some lounge access overseas (value really only $50-100). This card will be getting cancelled before 2nd year.
A CBA plat, which i have reduced fees from loyalty ect. use this mostly for MC use and insurance
and a free amex red velocity.

The best value card to me for points? the free amex. (ok yes technically the ANZ because i have it for free, but that changes after 1 year)

Also one thing to be aware of a lot of the high end cards require an income of 75k+pa

 

[jlien]

stuff..

^ This.

If you're able to estimate how much spend you'll be doing in a year, then we can help you weigh up the options. Also consider any cards that you may be able to get for free from mortgages and such.
I don't recommend going for any card with a high annual fee unless you had a good plan on how to make the annual fee work for you.

 

[DavBlayn]

stuff...

I think what you've said is advice much better than the advice I could have got strictly in the scope of my question. I'll have a look, carefully, at the pros and cons of each card before I make any decision. I think for now the best card for me would be one with a low annul fee, and then I'll ease myself into the higher end stuff.

Thanks for the help.

 

[exceladdict]

I think what you've said is advice much better than the advice I could have got strictly in the scope of my question. I'll have a look, carefully, at the pros and cons of each card before I make any decision. I think for now the best card for me would be one with a low annul fee, and then I'll ease myself into the higher end stuff.

Thanks for the help.

A wise move if you're not ready to go guns blazing, but don't plan to have too many cards in too short a time either!

(see other threads about card churning and credit ratings).

 

[DavBlayn]

Yeah, I've read that applying for 20 credit cards on a single day will result in almost all of them getting rejected.

 

[mooingchicken]

Yeah, I've read that applying for 20 credit cards on a single day will result in almost all of them getting rejected.

As well as have big impact on your credit rating, which will make it harder to get loans and other cards down the track, until it rebuilds itself which can take a few years, depending on the amount of damage you do

 

[DavBlayn]

As well as have big impact on your credit rating, which will make it harder to get loans and other cards down the track, until it rebuilds itself which can take a few years, depending on the amount of damage you do

Yeah, in the long run, getting 100,000 points isn't worth risking getting finance.