Master Card 'fee' more than AMEX?

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Forums › Finance and wealth management › Master Card 'fee' more than AMEX?

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eXDee

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#765365 18-Feb-2013 19:43

Is an airpoints dollar directly the same value as an actual dollar when buying online? Wondering how decent those airpoints rewards are.

Generally i ignore most reward programs, they tend to be quite poor value. Nice if its there but i'd be very conservative about paying for the privilege of getting them.

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Snowflake

#765368 18-Feb-2013 20:06

in addition to the 'extended warranty' and 'travel insurance' extras, i also make use of the discounted koru club benefits that you get from either the BNZ or ANZ cards - they waive the joining fee and knock $145 off the annual fee so you only pay $361 per year (it used to be a bigger discount:().

the BNZ card also throws me into a special credit card verification page where i have to use an alternate password when buying online - so it has additional security features. Other credit or debit cards may have these, not sure.

sometimes the extras on a credit card make the annual fees and rewards points work, but sometimes - especially if you don't travel - they don't.

I do prefer the airpoints $ programs to others because i can burn them up on any flight, for any seat. e.g. short haul grabaseat flights. with my qantas points i can only burn them 15,000 points a time and even then only if there are spare seats in the freq flyer allocation.

I bank with the ASB but i have my credit card with BNZ because the ASB card just didnt stack up.

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Snowflake

#765371 18-Feb-2013 20:09

eXDee: Is an airpoints dollar directly the same value as an actual dollar when buying online? Wondering how decent those airpoints rewards are.

yes. if you have 45 air points dollars, you can buy a $45 grab a seat flight just like you were paying cash. Or you can burn them on appliances, car rental or hotel rooms like other programs - but the flights is the best option really.

NB. flights bought with airpoints also still earn 'status' points, so you can use them to get to silver, gold etc...

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nakedmolerat

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#765377 18-Feb-2013 20:27

eXDee: I'd be interested if everyone posted what their fees are annually and what their benefits are, and if there's any catches (eg need to spend X amount or fee is higher)

$290 per annum (paid in 6 monthly) - fees waived if spending more than $30k
3 cards - AMEX - 2 points / Westpac 1.5 points / SideCard 1.5 points
Travel insurance (120 days per trip, no trip limits)
Purchase protection insurance

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Snowflake

#765387 18-Feb-2013 20:44

bnz globalplus platinum https://www.bnz.co.nz/personal-banking/credit-cards/globalplus-cards/globalplus-platinum-visa
$200 per annum, no cost for additional card holders, waived for spend>$30K/6mth
foreign currency service fee 2.25% (.25% less than westpac)
interest rate 15.45% (one of the lowest, most are 19.95% or higher)
1 airpoint dollar per $90 spend
can convert fly buys to something useful (airpoint dollars)
discount koru membership
extended warranty/purchase protection
90 day per trip international travel insurance covering spouse and kids, automatically active - no need to pay for trip on card! (westpac requires you to pay prepaid travel expenses on the card)
contactless capable cards (like tap n go card)

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khull

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#765389 18-Feb-2013 20:51

I think benefits are quite easy to find out along with the fees. I use Airpoints exclusively on all my cards as most have the best earn rate - Don't need a blender or an iron from reward points.

Annual fees - probably about $500, I can't recall having to pay for AirNZ flights for a while now (also avoid the surcharge fees)

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nakedmolerat

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#765390 18-Feb-2013 20:55

khull: I think benefits are quite easy to find out along with the fees. I use Airpoints exclusively on all my cards as there are ones with the best earn rate - Don't need a blender or an iron from reward points.

Annual fees - probably about $500, I can't recall having to pay for AirNZ flights for a while now (also avoid the surcharge fees)

Which card is it that charge you $500 a year?

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Snowflake

#765398 18-Feb-2013 21:07

nakedmolerat:
khull: I think benefits are quite easy to find out along with the fees. I use Airpoints exclusively on all my cards as there are ones with the best earn rate - Don't need a blender or an iron from reward points.

Annual fees - probably about $500, I can't recall having to pay for AirNZ flights for a while now (also avoid the surcharge fees)

Which card is it that charge you $500 a year?

i'm guessing two cards- a visa and an amex?

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khull

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#765423 18-Feb-2013 21:39

Regs:
nakedmolerat:
khull: I think benefits are quite easy to find out along with the fees. I use Airpoints exclusively on all my cards as there are ones with the best earn rate - Don't need a blender or an iron from reward points.

Annual fees - probably about $500, I can't recall having to pay for AirNZ flights for a while now (also avoid the surcharge fees)

Which card is it that charge you $500 a year?

i'm guessing two cards- a visa and an amex?

Yep.

lxsw20

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#765441 18-Feb-2013 21:57

ANZ Airpoints Visa Platinum

$125 per year, one Airpoint dollar per $80

Goosey

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#765467 18-Feb-2013 22:12

Back to the OP topic.....

You will find that the credit card merchant fees between retailers are different depending on the deals they have with the credit card merchants.
It's well known that AMEX have one of the highest merchant fees hence why quite a few retailers do not accept them (some do accept them but pass the charge onto you)

I suspect that the retailer who didn't charge for visa simply may have a great deal by the merchant to provide this.

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nakedmolerat

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#765477 18-Feb-2013 22:18

Gooseybhai: Back to the OP topic.....

You will find that the credit card merchant fees between retailers are different depending on the deals they have with the credit card merchants.
It's well known that AMEX have one of the highest merchant fees hence why quite a few retailers do not accept them (some do accept them but pass the charge onto you)

I suspect that the retailer who didn't charge for visa simply may have a great deal by the merchant to provide this.

Ok, that sounds right. Thanks

rayonline

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#765486 18-Feb-2013 22:32

khull:
rayonline: Yeah .. I find that insurance just the basics .. .high excess though maybe not suited if you have a cancelled flight or a trip to the GP.

What is this concierge service. Never accessed it, heard there were service charges if you need someone to picked up b/c you couldn't be at the airport or need to arrange accom/ travel / restaurant bookings in the destinations..... or access to sought after concert tickets etc.

There are no service charges per request and if there was you'd be made aware of it. I use it all the time, after hours rental pickup, hotel bookings at corporate negotiated rates, and even organising other people's business because they asked me to take care of them. Can be sometimes touch and go but if it is somewhat related to travel or gifting, it is almost a good indicator of a successful request.

Cheers ... I have only read about on the bank's comparison section. Don't have a plat card. When you say corporate rates how do they compare to say last minute expedia prices?

Not tooo important for personal use maybe and I am mostly trying to hunt for last minute deals on expedia and the likes ... :) The gold card allows discounted koru club but that's not something I would pay for myself personally, rather just sign up for another star alliance programme overseas to get Star Alliance Gold easier so the CC for is maybe just accum. APD via CC spending. The earn/burn ratio is pretty bad for the APD programme but they do have certainty thou, APD can be used any time ie a $599 grabaseat or a $2100 undiscounte (same destination). My 2nd card is a Kiwibank Mastercard Zero in case they don't accept AMEX just b/c having two premium CCs the fees sorta offsets the benefits for me. Just average Joe here ... I think it is useful to have esp those travel related stuff but they are things that you could do without esp for personal use so to get the big benefits cos it's just 1 or 1.5% you gotta spend quite a bit. $20k is a walk around the park really. Good for good income earners, not the common employee on a fixed salary. Some may not be spending 21 days in a business hotel out of their own pocket for leisure .... but they might want to go friends/family or somewhere cheaper. The avg person puts on their card it's just not that substantial. It's something nevertheless. $200 or $300 even a year, could just go out less often or get a airfare in the off season or off grabaseat. It's not that the avg person puts $2k on the card every week.

rayonline

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#765690 19-Feb-2013 12:06

rayonline:

I noticed one of the GP card they waive the fee plat I think it is only (?). But to spend $30k PA just get $200 waived. Yeah right ... could just get the ANZ Plat AP card which is $125 with all the same/most benefits. Maybe easier with businesses or consultants.

Correcting myself after checking it out. You need to spend at least $30k from the last half yearly annual fee to waive the upcoming half yearly annual fee. So to waive the full year fee of $200 (GP Platinum) you need to spend at least $60k. LOL.

I just think it is something at least. I get it for the insurance if not that maybe if the benefits outweigh the annual fee. Get travel perks if you like that or just get the cash back rewards or get the BNZ Flybuys if you like that. If you don't outweigh it and you don't travel or need the insurance maybe just the fee-less account like the Kiwi Zero Mastercard.

While some of the AP CCs may be better, in perspective. If you buy a $2,000 laptop you get $20 or $30 in AP Dollars (AP-D). But if you spent $2,000 on a airfare to Hawaii or Asia that would yield about 120 APD as well as the 20-30APD from the money transaction. Depending how much you put in total for the year but ... cash back cards might get you $10-15 from the $2,000 spent.

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