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97 posts

Master Geek
+1 received by user: 7

Topic # 240551 13-Sep-2018 11:26
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Hi all,


Multiple people have suggested I get a credit card as I make 99% of purchases with card. I also make business orders every 3-4 months via Visa debit which atm charges me 2.95% of the order value. However I was unaware that if I was with Mastercard, the fee is capped and it would save me mid-high hundreds every order. When I'm not making orders, I only spend max 1k a month so unsure if worth to get a card. 


I guess the main requirements would be: Mastercard + Airpoints as a perk (I'm early 20s, no family attachments, eat very little so grocery perks that I've seen mentioned is of little use to me). Possibly cashback perks would be alright too.


It looks like out of the Mastercard providers (BNZ, Kiwibank, Westpac), the KB Airpoints Standard card would be best for me. They have the lowest conversion rate (1.8%) as well, although I'm not sure if I'm having tunnel vision due to the airpoints perk :P so just want some outside perspective.


Any response is appreciated.

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1555 posts

Uber Geek
+1 received by user: 39

  Reply # 2089996 13-Sep-2018 13:26
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It depends on how much you spend per year therefore how many loyalty points you get.  


If you stick with Mastercard.  The best card would be various bank that offers the MC Platinum AirNZ card.  Westpac and others offer the plat card $1APD per $75 which is 1.33%.  The standard MC only earns $1APD per $120 spent which is 0.8%.  The World Card earns $1APD per $65 which is 1.5%.




You also need to account for the annual fees.  The Westpac standard is $55/yr.  The Plat is $145 and the World Card is $390 per year.  

What do you mean by 1.8%?  The KB Airpoints Standard card earns $1APD per $120 spent.




Aside.  I found the Amex Plat AirNZ has a better APD earn rate but that is not MC.  




Edit.  Oh you mean international fees.  Yes the Kiwi standard is 1.85%.  WP are all 2.50%.  Depends how much international transactions you do etc .. You might need to estimate your spending per year and run a spreadsheet.  If you care about this what about the Kiwibank Plat AirNZ card so you get the 1.85% international fees but you get a higher APD earn rate.  




The best cashback carcds AFAIK is by BNZ - the plat card.  The cashback by ANZ isn't very good.  The BNZ cashback isn't as good as the AirNZ card though but they have a reduced fee.  $90 annual fee with $1 cashback with $90 spending which is 1.1%.  BNZ has 2.25% foreign fees.

60 posts

Master Geek
+1 received by user: 25

  Reply # 2090828 14-Sep-2018 17:53
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> However I was unaware that if I was with Mastercard, the fee is capped




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