RewardPay Alternatives

[daft009]

they are here, Pricing | Yak Pay

 

[pangwen]

they are here, Pricing | Yak Pay

That’s the current rates (albeit with the new cheaper custom visa rate listed too). The new ones are:
- 1.25%+gst for visa (standard rate; earns bonus points)
- 0.5%+gst for bank transfer (reduction in bonus earn to 1 point per $4 spent)
- no bonus points on Amex payments over $1mil

 

[daft009]

Yeah I saw the 1.1% for visa and thought it was all the new rates

 

[Yak Pay | Payment Logic]

Is there a link anywhere to the full Yak Pay fee changes? Haven't received anything.

Hi @ChrisFlyer,

The email was sent out on the 1/12. As Pangwen has since stated, the pricing page on our website is not yet reflective of the pricing that will come into effect on the 1/1/23 - although the option to opt-in to custom Visa pricing is now available. Please find the changes below.

• Visa (New Standard): 1.25%+ GST (still accrues bonus points)
• Visa (Custom): 1.1%+ GST (does not accrue bonus points)
• Bank Transfer: 0.5%+ GST (now earns 1 Frequent Flyer point for every $4)
• American Express: Individual payments over $1,000,000 no longer earn the bonus Frequent Flyer points issued by us (applicable as of 1/12/22)

Shout out if you have any other questions.

 

[unfunkable]

Hi All!
Was just looking at pricing tiers for Payment logic.
Which AMEX cards let you charge more then 50k in one go?
I have an explorer at the moment, and I have reached the max limit for this card - 50K. They won't up it anymore.
Is it just the charge cards that don't have a 'credit limit'.
cheers

 

[daft009]

Hi All!
Was just looking at pricing tiers for Payment logic.
Which AMEX cards let you charge more then 50k in one go?
I have an explorer at the moment, and I have reached the max limit for this card - 50K. They won't up it anymore.
Is it just the charge cards that don't have a 'credit limit'.
cheers

Yeh platinum charge is your only option.
I went from explorer to charge for the same reason

 

[unfunkable]

Yeh platinum charge is your only option.
I went from explorer to charge for the same reason

Ahh ok thanks
Does the card start off unlimited? Or do you need to let them know before hand? cheers!

 

[pangwen]

Ahh ok thanks
Does the card start off unlimited? Or do you need to let them know before hand? cheers!

There is an underlying limit. You can find out what your spending ability is online once you get the card. AFAIK the limit starts off at $60k, but you can request an increase (just like a credit card).

 

[daft009]

There is an underlying limit. You can find out what your spending ability is online once you get the card. AFAIK the limit starts off at $60k, but you can request an increase (just like a credit card).

Yeah I've had to request on the odd occasion for an increase when the bill wasn't due but they rejected a transaction.

Slowly over time, now I can do $200k without any problems in one billing statement

 

[pangwen]

Yeah I've had to request on the odd occasion for an increase when the bill wasn't due but they rejected a transaction.

Slowly over time, now I can do $200k without any problems in one billing statement

Our card is still at the original $60k limit and we’ve had it for four years now .

We have larger expenses about once a year but end up just splitting up the payment each time and paying down the account in between.

 

[albyd]

With the Charge card, you should be able to prepay for the amount of your bill & get Amex to pre-approve that payment before you do it.l as the moneys already there.

American institutions don’t like your credit card being put into credit and there’s stories on AFF of them being shut down/suspended so I think the Charge card is the most viable way of doing this without the charge, pay, re-charge cycle.

 

[Quattro]

Does anyone know what happened to creditrewards?

 

[albyd]

It closed down some months ago unfortunately. They didn’t get enough traction in the market. I guess it’s a competitive market. They couldn’t come close to Sniip’s pricing so I think they found it hard to attract customers.

 

[unfunkable]

So logging into reward pay and my last payment was Oct 2018 - didn't relise had been out of this game for so long! With covid and all, didn't have much use for points.
Did some math last night, can I check it's right?
Transaction of $150,000 @ 1.95% = $2925. Say 25% is tax deductable

So netpayable is $2193.7 in fees ( GST claimed)
Points earned 2.25x150,000 = 337500MR = 168750 KF points

So cost per KF point is $1.3cents?

SYD-OSAKA return business saver is 201,000 miles + $200 in tax or $2613 is points value
Cheapes Business ticket is around $3652 - different dates can go up to 4-5k though.

I guess its good but still expensive buying points - or did I do something wrong?
cheers

 

[levelnine]

I guess its good but still expensive buying points - or did I do something wrong?

There is no way I'd pay 1.3c per point for KF (or QF for that matter), but everyone's situation is different and everyone has different calculations of value.

Sure you can get 3-4c per point in value, but that's only by comparing it to cash prices for business class. If you'd never pay cash for business cash, it's false value. And for that value, you need to deal with many hassles — risk of expiry, difficulty of finding availability, etc etc. And don't forget the KF miles you'd earn when paying cash for business class in your equation.

 

[unfunkable]

Yeah, the value just doesn't seem to be there.
I need to do some more reading to catch up.
cheers

 

[daft009]

So logging into reward pay and my last payment was Oct 2018 - didn't relise had been out of this game for so long! With covid and all, didn't have much use for points.
Did some math last night, can I check it's right?
Transaction of $150,000 @ 1.95% = $2925. Say 25% is tax deductable

So netpayable is $2193.7 in fees ( GST claimed)
Points earned 2.25x150,000 = 337500MR = 168750 KF points

So cost per KF point is $1.3cents?

SYD-OSAKA return business saver is 201,000 miles + $200 in tax or $2613 is points value
Cheapes Business ticket is around $3652 - different dates can go up to 4-5k though.

I guess its good but still expensive buying points - or did I do something wrong?
cheers

Try sniip

 

[unfunkable]

Try sniip

Sniip I just looked at - it is also 1.95% :-(

 

[daft009]

Sniip I just looked at - it is also 1.95% :-(

Using a Business Amex?

 

[unfunkable]

Yes it would have to be a business transaction, so the website says 1.95% FEE
It would be 2nd Tier pricing
I tested the BPAY code @ Payment Logic personal and it got rejected :-D . I am guessing the same thing would happen @ SNIIP

So I was just in live chat with sniip...OOps, looks like I missed out last 3 years

"Any payments today made to this biller will be considered personal
However, Amex is reviewing their list of billers, and from tomorrow onwards we anticipate this biller will be fall under business payments"