Using credit card overseas, worth the point ?

[thehound]

I think the Bankwest Platinum card pays .75 QFF points per dollar with no forex fees too.

Yes, BW Plat is 0.75 ppd and BW World is 1 ppd. Good thing about BW World is that annual fee is apparently what you were previously paying for the card you upgraded from (ie if upgrading from Plat you still only pay $160 pa for the World). Min credit limit is 12k for World.

 

[sausagefingers]

Yes, BW Plat is 0.75 ppd and BW World is 1 ppd. Good thing about BW World is that annual fee is apparently what you were previously paying for the card you upgraded from (ie if upgrading from Plat you still only ay $160 pa for the World). Min credit limit is 12k for World.

I was actually going to to close the BW Plat card because I have far too many and the .075QFF point is too low, but with an OS trip next month I may revert to that card for the trip before.

 

[travelislife]

that would be 1.5c per point but I suppose still a little expensive. Still, your getting free use of those funds for a month or more which is also worth something.

The Citi Debit Card suits me. You get the headline rate or close enough to it which beats buying a travel card or cash bought before you leave and there's no fees if you pick your atm carefully

Yep! Bloody decimal point! I knew something didn't look right.

What's the rationale behind splitting up instore and ATM purchases between those two cards? I've got a Citi Plus card which I would use for both - what benefit does the 28 Degrees confer in a store setting?

There is also the security side of it. Recently in Brazil my 28degreescard was cloned and used in the States. Being a credit card I am protected so it is all good but the card was then dud for the rest of the trip. My mate had the exact same thing happen in Brazil using his Citibank card using it like a credit card for purchases (which you are protected for too) but in his case it meant he was actually then without access to his cash funds which were stolen. With the credit card it just sits there without me having to pay it and will disappear off the account when resolved.

Not if you don't use much cash>

Yea I suppose. Totally dependent on what countries you go to. In South America (and Japan) cash is still very much the main form of payment for eating etc.

 

[burmans]

Yea I suppose. Totally dependent on what countries you go to. In South America (and Japan) cash is still very much the main form of payment for eating etc.

True but that's where ATM's (and the Citi Debit card) comes into play. Just because countries use cash doesn't mean you have to carry around vast wads of cash with you!. Incidentally, while it is off-topic slightly but you did mention Japan, on my recent trip to Japan found that ATM's seem to be somewhat more available than recent reports suggested.

 

[coco50]

I don't go to countries that rely so much on cash.

 

[karen blancfield]

True but that's where ATM's (and the Citi Debit card) comes into play. Just because countries use cash doesn't mean you have to carry around vast wads of cash with you!. Incidentally, while it is off-topic slightly but you did mention Japan, on my recent trip to Japan found that ATM's seem to be somewhat more available than recent reports suggested.

Japan is next on my list ....... So ATMs are reasonable? Kyoto, Osaka ..... but a wad of cash still handy? Any other advice gladly received, thanks.

 

[burmans]

I wouldn't say a wad of cash, but yes some cash. 7 elevens (and there are plenty of these), post offices (same) and significant train stations have ATMs. Kyoto and Osaka would be fine. About 50% of restaurants took card, trains did. So, yes some places don't take cash but I found the "totally cash" view was just not true.

 

[Cynicor]

I wouldn't say a wad of cash, but yes some cash. 7 elevens (and there are plenty of these), post offices (same) and significant train stations have ATMs. Kyoto and Osaka would be fine. About 50% of restaurants took card, trains did. So, yes some places don't take cash but I found the "totally cash" view was just not true.

Agree. This is an old view that is trying its best not to die. Cash can be hard to access in weird places, but not in the big cities. 7-11s are on almost every block, and most towns have a Japan Post. Oddly Niseko was ATM free until recently.

Many smaller shops and restaurants are still cash only, but they are also on the cheaper side of the scale so you won't find yourself depleting large sums of cash daily unless you want to avoid the CC. Off the top of my head, the last large sums I pain in cash were 26k JPY for a BC guide. Apart from that maybe 2-3k for a meal for 2.

 

[Mqrko]

How do you guys work out the numbers to check if it's profitable or not to use the cc ?

 

[avante]

How do you guys work out the numbers to check if it's profitable or not to use the cc ?

Check forex / international transaction fee. This is the amount you are purchasing your points for. The value of your point will vary depending on how you use it.

If the fee is 3%, and your card earns you 2 points per dollar, each dollar you charge to the card results in the following
1. 2 points credited to your account
2. 3 cents charged to your account
This means you have bought a point for 1.5 cents each

Now if you then use your points to pocket yourself return business class flights to London, you'll be up for 256,000 Qantas points and about $900 in taxes and charges. This would usually cost $7,800 but because you pay for fuel surcharges and taxes on top of the 256,000 points, this means the points are only worth $7,800 - $900 = $6,900.

What is your point worth in this redemption?
$6,900/256,000points = 2.7c per point which isn't bad considering you paid 1.5c per point as per the first calculation.

 

[Cynicor]

Check forex / international transaction fee. This is the amount you are purchasing your points for. The value of your point will vary depending on how you use it.

If the fee is 3%, and your card earns you 2 points per dollar, each dollar you charge to the card results in the following
1. 2 points credited to your account
2. 3 cents charged to your account
This means you have bought a point for 1.5 cents each

Now if you then use your points to pocket yourself return business class flights to London, you'll be up for 256,000 Qantas points and about $900 in taxes and charges. This would usually cost $7,800 but because you pay for fuel surcharges and taxes on top of the 256,000 points, this means the points are only worth $7,800 - $900 = $6,900.

What is your point worth in this redemption?
$6,900/256,000points = 2.7c per point which isn't bad considering you paid 1.5c per point as per the first calculation.

But you also get points and status from paid fares. And bonuses. So the points are worth a little less. And you might also take a cheaper paid carrier, or a sale fare, so it's worth sometime using what you would pay for a given fare. It all depends, many people have differing values of points.

My own QF value is 2c/p, so I won't pay much more than 1c/p to "buy" them.

 

[blueythecat]

No good for the OP, but for anyone else that finds themselves in the same situation. I originally applied for my Citibank Plus card only six days before leaving for OS. After applying I rang Citibank and they were able to rush me out a the card and account details. In the end I think I got it with two days to spare.

 

[marki]

A very useful point when using an AMEX CC overseas despite the conversion and surcharge added is the 3 month insurance purchase. So if it is stolen damaged I can usually get my money back.

 

[avante]

But you also get points and status from paid fares. And bonuses. So the points are worth a little less. And you might also take a cheaper paid carrier, or a sale fare, so it's worth sometime using what you would pay for a given fare. It all depends, many people have differing values of points.

My own QF value is 2c/p, so I won't pay much more than 1c/p to "buy" them.

Ah my apologies - I think I took your question a little too literally. Didn't mean to condescend!

I would never pay for business class so I'd just need to add the points I would have received on a saver-economy flight (which isn't much) to my cost. It's the other intangible benefits too like the convenience, lower risk of losing cash and insurance as someone else has mentioned.

 

[burmans]

No good for the OP, but for anyone else that finds themselves in the same situation. I originally applied for my Citibank Plus card only six days before leaving for OS. After applying I rang Citibank and they were able to rush me out a the card and account details. In the end I think I got it with two days to spare.

Ah Citibank, how can they be so good at some things and so cough at others?

 

[Mr_Orange]

I never use my rewards CC overseas. I have a 28 Degrees card with no forex fees. Although I may miss out on a few FF points, I don't get slugged the conversion fees for each transaction.

That's what the Bankwest Platinum (and above) cards are for. They don't charge a forex fee and you still earn QFF points. Either 0.75/$ for the Platinum or 1/$ for the World.

 

[get me outta here]

Yes, I agree. I have a BW card and fill it up before departure.

That's what the Bankwest Platinum (and above) cards are for. They don't charge a forex fee and you still earn QFF points. Either 0.75/$ for the Platinum or 1/$ for the World.

 

[coco50]

That's what the Bankwest Platinum (and above) cards are for. They don't charge a forex fee and you still earn QFF points. Either 0.75/$ for the Platinum or 1/$ for the World.

I'm happy with the 28 Degrees. I haven't enough room in my wallet for any more cards

 

[get me outta here]

Take the 28D out and insert a BW. Space issue solved.

 

[Mqrko]

The bankwest platinum has a $160 annual fee though compared to the 28 degrees cc