Best points earning card for international spend

[blueythecat]

I hate this card in Australia as the Platinum one in the US does not have foreign fees.

Yeah I know it does seem grossly unfair, but I guess that is the free market at work.

 

[Jeffrey O'Neill]

There's always FlyBuys travel

...which I've seriously considered at times, because with a balance of 4m+, I don't think Velocity can ever clear it out in my entire life of frequent flying, assuming no rule changes.

maybe you can use the FB points to buy gift certificates and then sell them to fund travel?

 

[Saltywings]

maybe you can use the FB points to buy gift certificates and then sell them to fund travel?

But either way, they're valued at 0.5c/pt...might as well go direct (and some of those travel options at least still earn 5x FB/'$1')

 

[ozjuice]

Doesn't Global Wallet now give you 2 points per Dollar?

 

[Mattg]

Doesn't Global Wallet now give you 2 points per Dollar?

It does... but the exchange rates are quite poor and it can't do all the same things that a credit card can (e.g. security deposits for hotels/hire cars)

 

[blueythecat]

It does... but the exchange rates are quite poor and it can't do all the same things that a credit card can (e.g. security deposits for hotels/hire cars)

Indeed! Unless you really luck in on locking in an exchange rate these cash cards are normally really poor value. So just look really carefully at the exchange rate differential.

 

[aerotravel]

I used to have the Bankwest QF World Mastercard with grandfathered $99 annual fee. When they changed the QF points earn to 0.66, I started hunting for new card and the Coles Reward Mastercard started to shine when Flybuys introduced points transfer to Velocity. With the more than twice yearly points transfer offer, it was a no brainer and got it at $89 annual fee but now it's $99 annual fee... which effectively give it 2 FlyBuys = 1 Velocity Point (on 15% points transfer promotion)!

 

[timmy1234]

Bankwest World gives .66 pt per $.

BW FX rates are cough. it is like u are paying 3 to 4 % fee. However, the BW World MC is an awesome card for its Lounge access (Lounge Key) Program. You can take up 6 (may be more) travellers with you into many lounges internationally and nationally.

 

[Isochronous]

BW FX rates are cough. it is like u are paying 3 to 4 % fee. However, the BW World MC is an awesome card for its Lounge access (Lounge Key) Program. You can take up 6 (may be more) travellers with you into many lounges internationally and nationally.

Thanks for mentioning - I wasn't aware that this was a benefit of the World card. Looks like you get $36 to spend at Cafe Vue at MEL - how exactly does that work? I downloaded the app but no QR code is accessible. Do I always have to present the physical card?

 

[get me outta here]

BWW charges zero as a bank fee. Currency Converter | Foreign Exchange Rates Calculator | Mastercard

BW FX rates are cough. it is like u are paying 3 to 4 % fee. However, the BW World MC is an awesome card for its Lounge access (Lounge Key) Program. You can take up 6 (may be more) travellers with you into many lounges internationally and nationally.

 

[Babesofy]

I’m looking to try out the CBA Diamond Amex for the first time this week.
Have you tested the exchange rate used by CBA Vs 28 Degrees? If CBA turns out to match the 28* rate, then I’ll be using it O/S whenever I can. As you say, 1.2 QF ppd...

Have you been able to determine the FX rate on transactions? Replies on this thread later on suggests BW has poor FX rates so CBA could be similarly poor? Keen to know if its worthwhile applying for this card.

 

[There'sOnlyOneJimmy]

Have you been able to determine the FX rate on transactions? Replies on this thread later on suggests BW has poor FX rates so CBA could be similarly poor? Keen to know if its worthwhile applying for this card.

I tested out the CBA Diamond Amex in VietNam recently.
Across 3 transactions, on 3 different days, totalling over AUD$7,000, the average exchange rate came out within 0.2% of the XE rates prevailing at the time of each transaction.
To be clear, thats 0.2%, NOT 2%...
2 transactions were denominated in VND, and 1 was in USD (no DCC was involved, it was a USD denominated terminal).
I took a screenshot of the XE app at the same time I was doing each transaction, so I could keep track of the results. 1 transaction was about 1% over, 1 was about 1% under!, and the other 1 was Goldilocks (just right). Given the vagaries of the exchange rate movements between the time of processing the transaction through the terminal, and final settlement of the transaction by CBA, I’m happy with the outcome: similar to my previous experience with 28 degrees (including no added fees), but with the benefit of accruing some QFF points.

 

[Cynicor]

BW FX rates are cough. it is like u are paying 3 to 4 % fee. However, the BW World MC is an awesome card for its Lounge access (Lounge Key) Program. You can take up 6 (may be more) travellers with you into many lounges internationally and nationally.

Definitely incorrect advice on the 0% fx fee cards. Both th eplat and world give basiclaly the xe.com rates, just liek the CBa, Coles MC, 28 degrees etc.

 

[lowan74]

I use both 28 degrees mastercard and CBA plat Amex. Over many transactions and currencies this year, I have not found there to be a significant difference between the exchange rates of the 2 cards.

I will now always preferentially use the CBA Amex now, however, for the following reasons:

- Instant notifications of transactions through App, showing currency and amount (28 deg does not do this)
- QF (or CBA) points earn
- Merchants can not apply or offer DCC at point of sale (spending a lot of time in China, there is still a lot of "involuntary" DCC practiced on mastercards and visa cards here, which can often only be unwound by filing a dispute. This feature alone is a big advantage to me)
- it is easier to pay the bill than 28 deg

The downside is the annual fee, however depending on the volume of transcations this can be offset by the points. The other downside is reduced merchant acceptance.

 

[jinks485]

The AMEX Platinum Charge earns 2pts/$ in all forigen currency transactions, which is good, but it is at the cost of a 3% fee.

I use this card. The FX rate is on par with the Visa/MC rates, so taking into account the 3% fee, I'm basically paying 1.5 cents per point. That's definitely on the high end, but the value is OK with airlines like Singapore Airlines.

 

[Cynicor]

I use this card. The FX rate is on par with the Visa/MC rates, so taking into account the 3% fee, I'm basically paying 1.5 cents per point. That's definitely on the high end, but the value is OK with airlines like Singapore Airlines.

If you're happy to pay that much, why not just cop the annual fee for the CBA diamond or the Coles MC and earn points for significantly less?

 

[burmans]

I use both 28 degrees mastercard and CBA plat Amex. Over many transactions and currencies this year, I have not found there to be a significant difference between the exchange rates of the 2 cards.

I will now always preferentially use the CBA Amex now, however, for the following reasons:

- Instant notifications of transactions through App, showing currency and amount (28 deg does not do this)
- QF (or CBA) points earn
- Merchants can not apply or offer DCC at point of sale (spending a lot of time in China, there is still a lot of "involuntary" DCC practiced on mastercards and visa cards here, which can often only be unwound by filing a dispute. This feature alone is a big advantage to me)
- it is easier to pay the bill than 28 deg

The downside is the annual fee, however depending on the volume of transcations this can be offset by the points. The other downside is reduced merchant acceptance.

Plus with the CBA card you actually get some points earn!

 

[GSP]

If you're happy to pay that much, why not just cop the annual fee for the CBA diamond or the Coles MC and earn points for significantly less?

I've just spent a week in Bali and used the CBA black Amex where accepted and Bankwest basic Platinum Mastercard (not mentioned too much above but no annual fee, no points earning but most importantly no FX fees).

Now i followed this closely and on several occasions had a CBA Amex and BW MC transaction in quick succession and each time checked xe as soon as possible after purchase.

The results were the cards not once (around 20 to 25 trans) were below the xe rate. CBA Amex was closest, i.e if AUD/IDR was 10500 then CBA would be around 10510 to 10530, BW MC consistently performed better often using the rounded example just give 10540 to at one point 10600. It was a mystery how this all worked out. Once on a computer I'll publish the workings.

Big thumbs up for basic no frills BW card, i use it only for that purpose, CBA amex comes with my Wealth package i have.

 

[HockeyMonkey]

Qantas Money Platinum card give 1.5pt per $ on international spend albeit with high fees

 

[GSP]

Sorry Cynicor didnt not mean to reply to you.

As Burmans has just noted CBA did give me points so it had me agonising over the better rate or points from CBA.