What card to go for?

[bmanti]

Hi all,

I'm new here and I am seeking some advice.

I need a card that offers an interest free balance transfer for at least 12 months, but also offers Qantas FF points. I will spend about $5k a month on the card.

Thoughts?

 

[Clarkes]

Jetstar Platinum.

 

[dmitri]

New qantas amex, 80 000pts plus 0% transfer for 12 months I think

 

[exceladdict]

Hi all,

I'm new here and I am seeking some advice.

I need a card that offers an interest free balance transfer for at least 12 months, but also offers Qantas FF points. I will spend about $5k a month on the card.

Thoughts?

Don't try to do both at the same time.

If you have an open balance transfer, you won't receive an interest free period on ongoing purchases, therefore meaning you're paying high rates on those $5k of purchases.

I learned this the hard way. When you do a BT, that card should go in a drawer and not be touched until the BT period is over. Also, be aware you need to still pay a minimum monthly repayment - it's not an interest free loan for 12/18/24 months.

Now, given your BT needs to be at least 12 months, I'm guessing your two objectives are to improve cash flow and generate points.

I would open two cards. First, something like this NAB premium card for a 15 month BT, only $90 annual fee. So as long as your BT is at least $2,250, then assuming an opportunity cost of cash of 4%, you're in the green.

Premium Card - NAB

Second, for points, get the ANZ frequent flyer blue/platinum/black depending on your income level, $0 annual fee for the first year and 25/50/75k points after you hit the minimum spend.

ANZ Frequent Flyer Black

 

[exceladdict]

New qantas amex, 80 000pts plus 0% transfer for 12 months I think

Need to be careful with Amex BTs. They charge an establishment fee of 1% and it's only for new customers. And if you try to spend on the card to hit the minimum spend to get the points, while you have an open balance transfer you will pay interest on your purchases from the date of purchase