Airpoints vs CashBack vs Rewards Cards?

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Forums › Finance and wealth management › Airpoints vs CashBack vs Rewards Cards?

openmedia

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#320330 1-Aug-2025 12:50

With Kiwibank ending their Airpoints relationship I'm looking for an alternative.

Historically the Kiwibank card was great for topping up my status points to retain lounge access etc, plus we use the Airpoints for personal trips

Amex is an issue due to the number of vendors that still won't take it or apply high surcharges.

BNZ Advantage Visa Platinum appears to offer the best "cash back" value whist Westpac appears to be the best option if I still want Airpoints.

Where are other Kiwibank card holders looking at landing?

Generally known online as OpenMedia, now working for Red Hat APAC as a Technology Evangelist and Portfolio Architect. Still playing with MythTV and digital media on the side.

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#3399067 1-Aug-2025 13:50

I primarily use my Amex cards for purchases. I would put approximately 90% of total spending through them. Many other online commenters in NZ say anywhere from 75% upwards. So acceptance is not as dire as it is made out to be. It's mainly the smaller retailers that don't accept it. I do have Visa and Mastercards as well to pick up the slack if required.

Handsomedan

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#3399087 1-Aug-2025 15:08

Be aware that with the reductions in interchange that will come into effect in December, you may see most incentive schemes on cards be heavily reduced or closed down.
These programmes need to be funded and with a reduction in interchange, there's little revenue to fund them along with maintaining security and chargeback protections etc. Something will have to give and it's going to be the rewards programmes.

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KiwiSurfer

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#3399099 1-Aug-2025 17:20

Asteros:

I primarily use my Amex cards for purchases. I would put approximately 90% of total spending through them. Many other online commenters in NZ say anywhere from 75% upwards. So acceptance is not as dire as it is made out to be. It's mainly the smaller retailers that don't accept it. I do have Visa and Mastercards as well to pick up the slack if required.

Agreed. By dollar amounts Amex is does a large % of my spend. My non-Amex spends tend to be the small purchases from the corner dairy etc. So Amex adds up quite quickly from e.g. groceries, petrol, bills, etc.

Wheelbarrow01

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Chorus

#3399143 1-Aug-2025 22:12

I just did the math on whether an Amex Platinum is worth it to me to boost my points earning ability. Currently have an ANZ Platinum Visa.

I currently spent around $3500 per month on the ANZ card reasonably consistently. This works out at around 381 airpoints earned over 12 months. I have a sharepoints setup with my wife but excluding her points for the purpose of this analysis.

If I were to complement the ANZ card with an Amex Platinum, and try to put $3000 of my monthly spend through the AMEX card (85%), I'd get 541 points per year through Amex and the remaining $500 per month through ANZ would earn 54 points - so 595 points per year altogether.

Whilst that is an increase of 214 points (YAY), the AMEX card fee of $199 reduces the net benefit to just 15 airpoints dollars (BOO).

With regard to status points, I get a 50% uplift on points from eligible flights via ANZ. For me, this adds up to maybe around 100 bonus status points per year.

The AMEX gives 1 status point for $250 spent. Mathing that out over 12 months of $3000 spends would result in an additional 144 status points.

So for me the higher airpoints earn via AMEX is almost entirely cancelled out by the card fee, but I would earn extra status points.

Cancelling the ANZ Visa could offset some of the extra card fees, but I'd also lose my 50% uplift on flight status points and there'd no doubt be some spending where nothing would be earned at all due to reduced card acceptance.

It would be a net gain overall, but really only in making it a bit easier to retain tier status - and then only if I ran both cards. And to @Handsomedan's point, if they change the earn rates as a result of these interchange fee amendments, then it could all be for nothing anyway....

nztim

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#3399171 1-Aug-2025 23:02

I have the AMEX Gold card and debit for places that don't take Amex. I convert membership rewards to QF points the card fee is $200 but you get 2x $100 dining credit so if you go out for dinner at least twice a year the card is free.

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Zeon

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#3400105 5-Aug-2025 09:47

I signed up for AMEX many years ago when it was $59 spend = $1 airpoint dollar for Air New Zealand. That has degraded to $70 spend = $1 airpoint dollar now. ALongside flight tickets, you can also spend the points on the "Airpoints Store" with the best option there being a Mitre10 gift card.

Airpoints dollars are from a rate perspective, one of the worst airline rewards programmes. However the fact they allow you to buy any seat on any Air New Zealand flight is a major plus and IMO, actually worth it considering the additional flexibility that gives you. The other benefit is "share points" so you can buy tickets for other people who live at your house.

I get enough Airpoints dollars for at least 1 or 2 long-haul international trips for the household each year. Yes Air New Zealand is an unreliable airline plagued by delays and cancellations. So I would steer away from them for business trips, for vacations its usually not such a problem.

I guess do the maths because for low levels of rewards, there is quite a fee.

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nztim

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#3400122 5-Aug-2025 11:10

Zeon:

Airpoints dollars are from a rate perspective, one of the worst airline rewards programmes.

Hence a transfer to QF and use them for business class upgrades which gives the best return on points

Being Gold I am (almost) at the top of the pecking order too

There is the odd flight I have had to slog in economy

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Asteros

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#3400127 5-Aug-2025 11:58

+1 vote for the Amex rewards cards. Also, Amex customer service is much better than the NZ banks. I don't have to call often but if there's a fraudulent charge alert or if my replacement card gets lost in the post they pick up on the first ring and are very helpful. Also their fraud alert system doesn't require me to let them know when I'm travelling. Also, I moved countries and they were able to access my NZ credit record and open new cards before I shifted. I just hope with the impending NZ card acceptance regulation that there are too many negative changes to the product.

Handsomedan

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#3400131 5-Aug-2025 12:12

Asteros:

+1 vote for the Amex rewards cards. Also, Amex customer service is much better than the NZ banks. I don't have to call often but if there's a fraudulent charge alert or if my replacement card gets lost in the post they pick up on the first ring and are very helpful. Also their fraud alert system doesn't require me to let them know when I'm travelling. Also, I moved countries and they were able to access my NZ credit record and open new cards before I shifted. I just hope with the impending NZ card acceptance regulation that there are too many negative changes to the product.

All of the planned regulations and changes are for Visa and MasterCard only.

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jonb

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#3400133 5-Aug-2025 12:28

I find the Warehouse purple visa pretty good. Cashback rate to redeem at Warehouse or Noel Leeming is competitive, and get interest free periods at NL for >@$500 purchases with no extra fees.

Any time I see interest free offers at other places that requires signing up for Q card/ GEM visa or similar I automatically reject them, not signing up for that crap with all the additional fees too and difficulties closing card account.

Asteros

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#3400136 5-Aug-2025 12:45

Handsomedan:

All of the planned regulations and changes are for Visa and MasterCard only.

That's true but that didn't stop Amex from devaluing the Airpoints Platinum Card from 1 Airpoint Dollar per $59 to 1 Airpoint Dollar per $70 in 2024 even though they weren't covered by that year's Card Acceptance regulation changes.

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nztim

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#3400140 5-Aug-2025 13:46

Asteros:

That's true but that didn't stop Amex from devaluing the Airpoints Platinum Card from 1 Airpoint Dollar per $59 to 1 Airpoint Dollar per $70 in 2024 even though they weren't covered by that year's Card Acceptance regulation changes.

It brings it on-par with the membership rewards scheme which is 150 membership rewards points = 1 Airpoints dollar and your earn rate is 2 points per dollar spent on the card therefore $75 so the dedicated Airpoints card is slightly better than the gold rewards card

In comparison the membership rewards points converted to Qantas points 2:1 conversion ratio or a 1 dollar to 1 point conversion.

Redemption is a different story

Air NZ is dollar for dollar spend so a $69 flight is $4830 of credit card spend on a grab a seat fare or with a typical fare being $137 that's $9590 of CC spend

An Auckland to Wellington with QF is 5700points or $5700 of card spend regardless of time of year or price of flights

Which is best? depends.... if you redeem at peak times definitely QF or Air NZ if you plan to redeem on grab a seat. However, the earn is rapidly better with QF than AirNZ

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Asteros

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#3400141 5-Aug-2025 14:01

I agree with you Tim. Amex Rewards is much much better than Air NZ Airpoints. I switched to Amex Rewards many years ago after doing the calculations. I fly frequently in International Business on a mixture of cash and points depending which is the better deal. Getting out of Air NZ and trying all the amazing airlines that fly into NZ and AU was the right move for me. Slightly off topic but the few times I’ve flown Air NZ recently makes me realise how far behind they are in Business Class, especially for the premium they charge. By extension, it would be silly for me to bend over backwards to participate in their loyalty program. I don’t have any problems redeeming Amex points for flights - takes some initial research but it’s pretty straightforward.

nztim

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#3400143 5-Aug-2025 14:07

Asteros:

I agree with you Tim. Amex Rewards is much much better than Air NZ Airpoints.

You can also credit them to any airline in the programme if you are a member of multiple loyalty programmes

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Asteros

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#3400149 5-Aug-2025 14:49

Indeed, it's fair to say some of the Amex Airline transfer programs are better than others.

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