[chrisb]

With double points ending soon, what are other peoples plans?

At 1:1, I no longer see any point in the "pain" of using Amex - That is, always having to check to see if it's accepted. This is especially relevant since I now have a Citibank Fee Free also with 1:1 points, and with the 10000 point transfer requirement it means that it's in my interests to use it as much as possible.

So, it seems the Earth card has run its course for now - I have gotten value out of it over the past 6 months and it was worth the annual fee - it's a good little card.

Combining the Amex Reward Maximiser and Citibank cards is the most likely option for me.

Chrisb.

[JohnK]

No choice other than to keep it.

I think it is still good value at $49/pa, 12.74% interest rate, the optional 5.99% interest rate for Qantas purchases and bonus point for Qantas purchases.

[one9]

Originally Posted by JohnK

No choice other than to keep it.

I think it is still good value at $49/pa, 12.74% interest rate, the optional 5.99% interest rate for Qantas purchases and bonus point for Qantas purchases.

You find it more useful than most because the interest rate is actually relevant to you. For people who pay their bill each month, then the card is not so appealing anymore. There may be a chance that they extend the period past 30 November.

[JohnK]

Originally Posted by one9

You find it more useful than most because the interest rate is actually relevant to you. For people who pay their bill each month, then the card is not so appealing anymore.

I see your point but considering Australia's ever increasing credit card debt the interest rate should be relevant to most people. The large balance transfer at 0.99% for 6 months will help reduce my share of that credit card debt.

I don't have any figures to back me up but I would guess that there are more people with credit card debt than people who pay off their credit card bills every month.

Originally Posted by one9

There may be a chance that they extend the period past 30 November.

This may depend on the number of people deserting the card.

[danielribo]

For those of you (like myself) who paid the fee for the Earth (I got Earth+) card when the double points offer came out, little word of advise...

Currently they have a "no annual fee" promotion on. So I called and asked for my annual fee to be refunded inline with the current promo. I wasn't expecting it, but what do you know they did it without arguement.

I know the fee's not a lot of money, but for those of you who share my "money's better in my pocket than in the banks" philosophy, it's probably worth the phone call.

[clifford]

Originally Posted by danielribo

For those of you (like myself) who paid the fee for the Earth (I got Earth+) card when the double points offer came out, little word of advise...

Currently they have a "no annual fee" promotion on. So I called and asked for my annual fee to be refunded inline with the current promo. I wasn't expecting it, but what do you know they did it without arguement.

I know the fee's not a lot of money, but for those of you who share my "money's better in my pocket than in the banks" philosophy, it's probably worth the phone call.

Good advice daniel.

On a related issue, I have to disagree with JohnK that "I don't have any figures to back me up but I would guess that there are more people with credit card debt than people who pay off their credit card bills every month".

There are a lot of savvy, well-off people in Oz, too, you know.

[one9]

Originally Posted by JohnK

I see your point but considering Australia's ever increasing credit card debt the interest rate should be relevant to most people. The large balance transfer at 0.99% for 6 months will help reduce my share of that credit card debt.

I don't have any figures to back me up but I would guess that there are more people with credit card debt than people who pay off their credit card bills every month.


This may depend on the number of people deserting the card.

Paying 0.99% is not so bad, as you could invest your money in a internet savings account at about 6% and pocket the difference. BUT this would only work if you are smart enough not to use your card for any purchases, as new purchases would attract the high interest rate.

[danielribo]

Can someone just confirm for me when the double points promo finishes. I had it in my mind it was 1st November, but it would appear I'm wrong. Thanks

[JohnK]

Originally Posted by one9

Paying 0.99% is not so bad, as you could invest your money in a internet savings account at about 6% and pocket the difference. BUT this would only work if you are smart enough not to use your card for any purchases, as new purchases would attract the high interest rate.

I have thought about that but the balance transfer will be used to retire the GE credit line card with current interest rate of ~25.00%.

The earth cards will have some new QF transactions which will attract the 12.74% interest rate or the 5.99% interest rate if the transaction is over $500. After 6 months the remaining balance tranfer reverts to 18.99% at which point I will be looking to get another credit card with low rate balance transfer. This will continue until I have retired the majority of my credit card debt. I know my solution is not perfect but it is a start.

[JohnK]

Originally Posted by danielribo

Can someone just confirm for me when the double points promo finishes. I had it in my mind it was 1st November, but it would appear I'm wrong. Thanks

30th November 06.