cash back card.
Discuss cash back card, on the American Express Rewards forum of FrequentFlyer.com.au, the home of frequent flyers.
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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
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Re: cash back card
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!)
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.
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 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!
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.
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