cash back card

[oz_mark]

Hot on the heals of the ascent rewards program ceasing transfers to QFF for new members, come the platinum moneyback card (1% back, ongoing). Seems to be a rejig going on

American Express

 

[Mal]

Moneyback tended to be a US thing. Quite a few cards over there have that feature. Do any Australian cards (apart from this new Amex) give cash back at the end of each month? I have a feeling ANZ did, but can't recall the card right now.

1% in cash isn't too bad, but conversely, not as valuable (if you use them) as say store gift vouchers or towards hotel redemptions (which is where real value occurs). FF points have value, but have costs associated with redeeming them.

The interesting thing though, is that through "Membership Rewards" with my regular Plat credit card, I can use 14,500 points for $100 credit back to my card, As I earn 1.5 points per dollar, that's actually slightly better than the refund offer (by about $300 spend on a $10000 spend total). Higher cash rewards are even better value. Plus Amex often has "discounts" on Credit for points, so the points can be a lot less.

I should also comment that the Plat Credit Card is 1.5 points up to $100,000 spend, and only 1 point after that, so the new card could prove more beneficial to some due to it's no refund capping status (and lower fee!)

 

[oz_mark]

The interesting thing I found was the annual fee of $99 and the minumum earnings of $40000 pa, so I am guessing that they will be pushing it

 

[bazzam]

Citibank offers a cashback credit card (BP Citibank Mastercard). Its been around for at least a year and offers 1% cashback off purchases and 5% back on petrol purchased at BP. Annual fee is $79.

 

[gibspmuh]

There was a stand today in Galleries Victoria in Sydney with a guy flogging the new card. There's a sign-up offer of 5% cash back for the first three month's spend before reverting to the standard 1% cash back. The guy also indicated that the existing Platinum Credit Card was being replaced by the new cash back offering (for new card members anyway).

Not sure how much truth there was to that, but I guess we'll see in the coming days (given the other changes that are indicated to take place from the 1st of August as well). Methinks I'll be holding onto my existing Platinum Credit Card for a while longer anyway!

 

[oz_mark]

There was a stand today in Galleries Victoria in Sydney with a guy flogging the new card. There's a sign-up offer of 5% cash back for the first three month's spend before reverting to the standard 1% cash back. The guy also indicated that the existing Platinum Credit Card was being replaced by the new cash back offering (for new card members anyway).

Not sure how much truth there was to that, but I guess we'll see in the coming days (given the other changes that are indicated to take place from the 1st of August as well). Methinks I'll be holding onto my existing Platinum Credit Card for a while longer anyway!

There is also the change to the platinum to allow a free hotel night (http://www.frequentflyer.com.au/com...ewards/new-option-plat-credit-card-14034.html), in lieu of the flight. Given my experience in the past, a step in a year or so's time will be to drop the flight option just leaving the free hotel night.

 

[AnonymousCoward]

The interesting thing I found was the annual fee of $99 and the minumum earnings of $40000 pa, so I am guessing that they will be pushing it

At what point are they devaluaing the "platinum" label? It seems Platinum is the new "Gold", which in turn is almost the minimum CC worth having.

 

[beardoc]

At what point are they devaluaing the "platinum" label? It seems Platinum is the new "Gold", which in turn is almost the minimum CC worth having.

Does it really matter what the label is?

 

[beardoc]

Hot on the heals of the ascent rewards program ceasing transfers to QFF for new members

When did this come into effect?

 

[oz_mark]

August 1..

If you are enrolled in Ascent, you can redeem your Membership Rewards points for points in one of our airline rewards partners, which are subject to change and currently include Qantas Frequent Flyer (not available to Cardmembers who have joined Membership Rewards Ascent since 1 August 2008), Velocity Rewards, Virgin Atlantic Flying Club, Malaysia Airlines Enrich, Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Thai Airways International Royal Orchid Plus.

 

[bdl]

Hi everyone,

Long time lurker, first time poster - I spoke to Amex about this Cashback card last Wednesday so thought I'd post what I was told.

Main differences between the 'normal' Amex plat credit card vs. Moneyback Amex plat:

* Annual fee: 'normal' = $395, moneyback = $99
* Domestic/International Travel insurance = Moneyback does not include this
* Free QF flight = Moneyback does not include this
* 1.5 pts/per dollar reward accrue = Moneyback does not include this (instead, 1% cashback)
* Cashback on Moneyback not capped
* Existing 'normal' Plat card not to be replaced, instead this option was introduced to let more people access Plat card due to lower annual fee.

Hope that helps
bdl

 

[AnonymousCoward]

Does it really matter what the label is?

Ultimately, it's just a label.

But what is the point of having all these labels ("Gold", "Platinum" etc) if they have no meaning? It's just confusing to everyone and devalues the brand. Brand devaluation isn't something trivial - if you are going to have a premium label, you need to keep it premium. Otherwise it isn't a premium brand anymore.