[one9]

With the death of the Woolworths Ezy Mastercard (the best points earning Visa/Mastercard), I have decided to list the options available below to help make it easy to decide which card to change to. If I have missed a card, or if you have advice to add, just reply to the thread).

Cards offering 1 for 1 points (with no points capping)
None

Cards offering 1 for 1 points (BUT with points capping)
ANZ Frequent Flyer (1:1 for $2500 per month, then 2:1)
Citibank Silver (1:1 with 40,000 annual points cap. Many people have reported that the points cap is not enforced, but some people have reported it has been enforced for them.)
Commonwealth Bank Platinum card (1:1 with 150,000 annual points cap)

Cards offering 3 for 2 QFF points (BUT with points capping)
NAB Gold Rewards Card (3:2 for $3000 per month, then 3:1 up to $10,000 per month)

Cards offering 2 for 1 QFF points (with NO points capping)
Westpac Altitude Platinum
Earth Mastercard (1:1 but only till Nov 30. Then reverts to 2:1)

My personal recommedations:

(a) It depends on how much you spend.
- If you spend less than $30,000 a year, then you can go for any of the cards in the 1:1 section.
- If you spend between $30,000 - $150,000 a year, I would recommend the CBA Platinum card.
- If you spend > $150,000 a year, I think it depends on your risk level. The Citibank card may be the best option. It seems the Citibank points capping is not enforced for new card holders; but it could be enforced on you at any time. So you need to be ready to change cards and be ready to lose one months worth of points. You would be wise to transfer your points each month. If you prefer more safety (and if you spend > $300,000 per year), the best options would be either the Earth or Westpac Platinum cards. You are only earning half the amount of points, but you can spend as much as you want and still earn points.

(b) What to do with your Ezy Mastercard
- The Ezy Mastercard changes to a CBA Mastercard. Whilst many people are saying to cancel it, I would suggest keeping it. If you don't want to keep it, consider changing it to a different CBA card (eg. CBA Platinum card). Providing you are not applying for a credit card or loan product with the CBA, when you apply at a different bank, the new bank does not know whether or not you still have the CBA card (unless you tell them). Credit files are only updated when you apply for credit products, not when you cancel them. Paying the small annual fee for the standard Mastercard is often worth it to keep the credit, especially if the CBA brings out a better product in the future, which you could then easily change to, or if you want to change it to a personal loan in the future.


UPDATE: It seems there may be less well known cards out there issued by smaller financial institutions which may be better. If you find one, let us all know. I am currently looking into the Credit Union Australia Mastercard which appears it may have 1:1 and no points capping. I am not quite sure. The ugly looking card is available at: Credit Union Australia: Australia's Friendliest Banking - CUA MasterCard

[kyle]

May I add my $0.02.

I think CB's discretionary points capping is far too risky.

Also, the annual fee/program fee is an important consideration.

[bertoman]

Little known cards....

Just a quick word on the CUA mastercard and others ....

This card is still a sh!tibank card in disguise .....

just like Wide Bay , IMB, Mckay Building society and Maitland Mutual.....

My brother has a Maitland Mutual Card, and he has shown me all the paperwork he recieved, I cant find anywhere that mentions points capping.

He has had it for over two years , spent way over $40k a year , no capping.

Maitland Mutual has been around since christ was a kid, maybe worth a call ?

Regards

bertoman

[PaulZ]

If you bank with St George or Bank SA and are a very large customer, you may qualify for their Private Bank Platinum Visa Card.

You are supposed to have at least $1million in business with the bank, whether that be via deposits and/or loans.

However, if you have a really good relationship with your banker, he may be able to do something for you.

They advertise that it is the rarest credit card in Australia.

It has an annual fee of $225.00.

A great feature for me is that it allows me to have 3 supplementary cards, for my wife and sons.

It has a 1pt per $1 spent, which converts 1pt to 1QF. Their terms and conditions list no maximum, nor do they mention business expenses. From experience if you are a good enough customer, they couldnt care less how many points you put through. A business colleague however was limited at $3million points for the year.

Of course it has all the insurance, purchase protection etc that you expect from a platinum card.

St.George Privatebank

[QFTravel]

Originally Posted by one9

Cards offering 1 for 1 points (BUT with points capping)

ANZ Frequent Flyer (1:1 for $2500 per month, then 2:1) for $95
Citibank Silver (1:1 with 40,000 annual points cap.) for $69
Commonwealth Bank Platinum (1:1 with 150,000 annual points cap) for $200

Cards offering 3 for 2 QFF points (BUT with points capping)
NAB Gold Rewards Card (3:2 for $3000 per month, then 3:1 up to $10,000 per month) for $145.50

Cards offering 2 for 1 QFF points (with NO points capping)
Westpac Altitude Platinum for $295
Earth Mastercard (1:1 but only till Nov 30. Then reverts to 2:1) for $49

Great thread. Update in above for annual fees which to some is also important in comparison of which card to change to.

[armanie]

Hi,

Thanks for the useful information.

I've decided to take the plunge and swap my Citibank Platinum for the CBA Platinum.

I've realised been sucked in for too long!! Grrr!!

CBA has a higher points cap (150K vs 120K) and lower annual fee ($200 vs $250).

However, does any one know how much a CBA Platinum supp card costs?

Regards,

armanie

[Chicken]

Originally Posted by armanie

CBA has a higher points cap (150K vs 120K) and lower annual fee ($200 vs $250).

Read your CB T&C. It says "MAY".

As long as you keep your heads down, don't call them too often and demand too much, they should not cap your points.

I've been earning 200 000 points per year on my silver card , I just had to put up with their crap CBA has better service I'm sure

[armanie]

Originally Posted by Chicken

Read your CB T&C. It says "MAY".

As long as you keep your heads down, don't call them too often and demand too much, they should not cap your points.

I've been earning 200 000 points per year on my silver card , I just had to put up with their crap CBA has better service I'm sure

Aye,

I wish it were that simple.

Unfortunately, there is no "MAY" for me...they've capped my points already!!
They started capping it one or two years ago. I guess my spending must have flagged something in the system.

Also last month, I asked them to fax me a copy of my statement and they wanted to charge me $8.00. This was the first time I've ever asked for it.
What the?!!?

With my spend and annual fee of $250, surely they could waive the fee this time?! But nope, it was $8.00.

I hope CBA approves me so I can dump Citibank.

armanie

[simple]

Yes, I just received notification of the end of EzyBanking... how sad. So I did I heap of searching / comparing. Was thinking about the Amex Rewards Maximiser (1.5 points per $1) as they waive the annual fee ($192) in the first year. But as Amex isn't universally accepted, I explored some more. The Earth card includes 1 Amex and 1 Mastercard on the one account. Anyone have any experience with Earth?
Cheers.

[scibo10]

I too was sad to hear about the demise of the EzyMastercard.
I subsequently did my research to find out the best possible replacement.
I feel that the Citibank Silver card is the best card, if it used as a compliment to another card (such as an AMEX). 1:1, and an annual rate of $69 is relatively good compared to other 1:1 cards, which have annual fees of $100+. $40,000pa cap is unfortunate, however this equates to $3333 per month, which is still better than the ANZ Frequent Flyer card and even their Gold card for that matter. The CBA platinum card is in the order of $200+ from memory.
I think we have to all accept there won't be another EzyBanking type card again ...