Help with Maximizing Parents QFF Earn-

[Spizz]

My Dad has retired recently and I have been looking at all the CC's they have and the Yearly fee's they pay on them.

Currently have a Diners Business Card, DJs Amex Card, DJs Platinum Card (Don't know why they have 2 different ones), Qantas Amex Card and a Qantas Westpac Visa Platinum. I have calculated with the yearly fees, seperate accounts, supplementart cards etc they are paying around $900yr.

This is what I am suggesting to minimise their yearly fees and maximise their QF point earn. Would like input or suggestions from others.


- Keep the David Jones Amex Card $99 per year $29 Supplementary and use for Petrol & Groceries only earning 2.25 QFF per $1

- They already have an EDR for Woolworths

- Get rid of the Diners, Westpac Visa, DJ's Platinum Card, and Qantas Amex card and get a HSBC Qantas Platinum Credit Card $199, $0 Supplementary which earns 1 QFF Point per $1 locally and 2 QFF points per $1 overseas

Was looking for a high point earn Amex Card for normal purchases above 1 point per $1 since the Qantas Amex Card is changing in July.

Any other suggestions, and utilities and bills would be best put through the HSBC card for 1QFF point per $1?

 

[Mattyana2003]

As your Dad is probably a long term customer of these cards the best ways to reduce annual fees is too ring up and say
-You are thinking of closing your card as the annual fee is too high.
-There are a lot of offers out there in the market place with bonus points, no annual fee, etc.
-You would like them to waive the current years annual fee and credit your account to save you closing this card and applying for others.
As far as maximizing points you are on the right track with DJ Amex for groceries and petrol. If you shop at ww then swipe your EDR at he same time to get one extra point per $.

 

[cgichard]

If your dad is receiving a pension from a self-managed super fund, be wary of cancelling existing cards, or even downgrading with the same issuer to a lower-fee product. With ANZ, at any rate and maybe others, even the latter is treated as a completely new application. When I made an application for a credit card with BankWest, hoping to save on fees, I was knocked back because my SMSF pension is not taxed, and so it was disregarded as income in the assessment process and and my non-pension income fell below the required threshold.

 

[whatmeworry]

Make sure you link up one of your AMEX cards to paypal. Do this because some bills will not accept AMEX but will allow you to pay by post billpay which in most instances accepts paypal.

AMEX has a QF discovery card that has 1:1 but more importantly is zero annual fee. If you Dad can still get this card it would be a good backup card.

 

[Spizz]

Thanks everyone for the suggestions.

 

[Beta4Me]

You probably want a 1.5ppd Bank-issued Amex in there somewhere...

 

[medhead]

How much do they spend overseas? Is it worth the overseas fee to get those points? Rather than the HSBC platinum I'd suggest a 1 point per $. Visa card of MasterCard. EDR credit card ($89 pa), or less so the Jetstar MasterCard spring to mind.

Then for overseas get the non points earning fee free options. eg 28 degrees card or Citibank plus.

 

[markis10]

As mentioned earlier be award that income may be an issue, so previously available options may no longer be there.