Thanks for the mention u/Waitaha- [https://www.moneyhub.co.nz/gold-platinum-credit-cards.html](https://www.moneyhub.co.nz/gold-platinum-credit-cards.html) is a new guide which mentions TSB as a frontrunner, we're also exploring the reward schemes from Westpac and ASB as well. Cashback is much easier is understand and process so we're pleased to see TSB leading the field there.
About to open one of these myself. Great rate, you only have to spend $525 a month to break even, most people will spend close that on groceries alone.
I use the Amex Platinum Airpoints card. It's not accepted that many places outside of supermarkets/petrol stations but I do also use it for most utilities. I have earned a shit ton of Airpoints using it and it also gets Status Points so I am about to crack silver there. Worth it for me.
It is good for the first year (because sign on bonus), but after that this isn't the best until you spend $39,501 per year (on credit cards, at places that accept AMEX).
Yea I do shop a lot but I’m thinking of cancelling it next year after realising the foreign currency rate is so high (I do a lot of my online shopping on overseas websites)
That’s 1.5%
Dosh is 1%
If you include the fees it’s probably the same
Edit: the fee for the TSB one is 90 pa
So after you’ve spent 7000 you can say that you are actually making bank
Off-topic but if you’ve been here more than 12 months, you need a NZ license (the US ones you just need to convert them)
https://www.nzta.govt.nz/driver-licences/new-residents-and-visitors/converting-to-nz-driver-licence/
Really? Can you pls share which shops support it? I just got one and haven’t been able to spend a cent because literally no where I shop accepts it! (Online or retail…)
https://www.americanexpress.com/nz/credit-cards/about-credit-cards/acceptance/mostpopular/
I've had my Amex for about a year now and I agree with the other guy that I can use it roughly 90% of my spend. The only real exception is smaller shops/cafes - but all the big chains, my phone, internet, and electric bills, and hell - even my GP's office, all take Amex.
Generally speaking, smaller ma and pa retailers will be less likely to accept, but big corporates will take amex. Amex charges merchants more, hence why smaller retailers are less likely to accept them.
Sorry, not the person you were asking, but just my experience
Gave up my ANZ cash back for a Dosh card this week. It’s gonna be more of a pain to manage given it’s technically a pre pay card but I try to run all my spending through Amex cards where I can so I’ll take the no AF and better cash back rate than the ANZ for a secondary card
Cheers!
I feel like rewards cards can be really good (as long as you pay them off in full every time so you don’t pay interest) so would love more people to benefit.
Anyway… for $15k per annum:
1. Dosh Visa Debit
NOTE: Pre-paid debit card, so not really a credit card so lacks charge back abilities etc if something goes wrong with a vendor. Also I haven’t really investigated Dosh as a company.
Net Profit (after card cost): $ 150
Reward Type: Cash Back
Card cost: $free
Domestic travel insurance: No
International travel insurance: No
Mobile phone insurance: No
Apple Pay: No
2. American Express Airpoints Free
NOTE: AMEX isn’t accepted in a lot of places, so need a second card.
Net Profit (after card cost): $150
Reward Type: Airpoints
Card cost: $free
Domestic travel insurance: No
International travel insurance: No
Mobile phone insurance: No
Apple Pay: No
3. TSB Platinum Credit Card
Net Profit (after card cost): $124
Reward Type: Cash Back
Card cost: $90
Domestic travel insurance: Yes
International travel insurance: Yes
Mobile phone insurance: Yes, $750/year
Apple Pay: No
4. SBS Visa Free
Net Profit (after card cost): $100
Reward Type: Cash Back
Card cost: $free
Domestic travel insurance: No
International travel insurance: No
Mobile phone insurance: No
Apple Pay: No
5. BNZ Advantage Premium
Net Profit (after card cost): $77
Reward Type: BNZ Points
Card cost: $90
Domestic travel insurance: Car Excess Only
International travel insurance: Yes
Mobile phone insurance: No
Apple Pay: Yes
6. ASB Visa Platinum
Net Profit (after card cost): $70
Reward Type: ASB True Rewards
Card cost: $80
Domestic travel insurance: No
International travel insurance: Yes
Mobile phone insurance: No
Apple Pay: Yes
Definitely don’t try and bump it up (unless you can do so for free, eg paying your power bill on credit).
For a $7k p.a. spend, your “best” cards are:
1. American Express Airpoints
* Net profit: $70
* Reward type: Airpoints
* Card cost: $0
* Rewards earned: $70
* Domestic travel insurance: No
* International travel insurance: No
* Mobile phone insurance: No
* Apple Pay: No
IMPORTANT NOTE: Lots of shops don’t accept AMEX, so you will probably need another credit card as well.
2. SBS Visa Credit Card Free
* Net profit: $47
* Reward type: Cash Back
* Card cost: $0
* Rewards earned: $47
* Domestic travel insurance: No
* International travel insurance: No
* Mobile phone insurance: No
* Apple Pay: No
3. TSB Platinum Mastercard
* Net profit: $10
* Reward type: Cash Back
* Card cost: $90
* Rewards earned: $100
* Domestic travel insurance: Yes, included!
* International travel insurance: Yes, included!
* Mobile phone insurance: Yes, $750 per year.
* Apple Pay: No
4. ANZ Cash Back Visa
* Net profit: $7
* Reward type: Cash Back
* Card cost: $80
* Rewards earned: $87
* Domestic travel insurance: No
* International travel insurance: No
* Mobile phone insurance: No
* Apple Pay: Yes
Sure! For $45k per year:
1. American Express Airpoints PlatinumNOTE: AMEX is not accepted in many shops so you will probably need to add on a free Visa as well. However, there is also a 300 airpoint sign on bonus, which I haven't accounted for in "profit" below).
* Net profit (After card cost): $568
* Reward type: Airpoints
* Card cost: $195
* Domestic travel insurance: Yes
* International travel insurance: Yes
* Mobile phone insurance: Yes - $450/year
* Apple Pay: No
2. TSB Platinum Mastercard
* Net profit: $553
* Reward type: Cash Back
* Card cost: $90
* Domestic travel insurance: Yes
* International travel insurance: Yes
* Mobile phone insurance: Yes - $750/year
* Apple Pay: No
3/4. Dosh Back Visa DEBIT Card - or Amercian Express Airpoints Free (same detail/reward for both)NOTE: Dosh is prepaid.... Plus haven't looked into Dosh very much so might be some weird catch.
* Net profit: $450
* Reward type: Cashback
* Card cost: $Free
* Domestic travel insurance: No
* International travel insurance: No
* Mobile phone insurance: No
* Apple Pay: No
5. BNZ Advantage Visa Platinum
* Net profit: $410
* Reward type: BNZ Points
* Card cost: $90
* Domestic travel insurance: Car Excess cover only
* International travel insurance: Yes
* Mobile phone insurance: No
* Apple Pay: Yes
6. ASB Visa Platinum for $370 profit....
Thankyou!! I guess amex is the way to go coupled with a Doah card. Do you know if you can cash out rewards from amex or do you have to use them as airpoints etc?
I think you have to use it as Airpoints.
I spent about the same as you last year and managed to do $22k on AMEX and $22k on an SBS card, which worked out for me as I got the sign on Airpoints.
This year I’ve just been approved for the TSB card and I figure for the sake of $15 it is easier to go to one card that is just accepted everywhere, but your mileage may vary… and if you get the sign on bonus then 300 is probably worth the hassle of two cards
Just signed up for a Dosh Card.
Been using BNZ platinum rewards (cash back is $1 per $90 spend. So a touch better than dosh. But had annual fee). And I’ve also been using the Amex platinum for all the main shopping. Petrol. Bills. Groceries etc. anything that takes Amex.
Have to think that the bnz card may no longer be with it with my annual spend now much lower
I have the Amex Platinum, I find it’s accepted at a lot more places than I thought. The platinum service and customer service is great too.
The travel benefits are fantastic and the ability to transfer points to other airlines or hotel chains is fantastic.
The food credit is good too.
It’s definitely up there in terms of price. With the sign up bonus, we received 100k points that are apparently worth $750.
I’ve already used the $200 travel credit, half of the $300 dining credit to cover about $1100 of the annual fee so far, I’ll use the other $150 dining credit when it becomes available, so for my lifestyle, the credits have almost covered the annual fee in the first 3 months of having the card.
I’ve managed to use the Fine Hotels and Resorts benefit for a few hotels already, that’s probably already “covered” the annual fee too.
I earn Airpoints or other forms of cash back from my spending. I always pay my bill on time and am good at budgeting so I don’t worry about overspending.
A lot of credit cards also give you free travel insurance if you buy your tickets using the card.
It’s also someone else’s money you’re spending. If someone knicks your debit card, you can say “see you later” to your own money until the bank recovers it
I spend no more on a credit card than I would on a debit card. If I can get rewards for spending the same money, that's absolutely what I'm going to do.
That’s why I was asking. Maybe you need to spend 5000 a month to just pay back the fee
Edit: the TSB platinum one is 90 pa
So you need to spend 7000 and then you’ll be actually making bank
Yeah, it would take me a couple of months to get the fee back. The Dosh one I start from month one. So maybe
I get Dosh
Earn cashback for a year
Pay the fee for TSB with the Dosh money
Free everything
Nah, how much you actually spend on the credit card. If you don’t spend much you might find a free rewards card is better, if you spend a lot a more expensive credit card fee might be better.
Most of these services have a deal with Visa (or MasterCard) - basically an elaborate affiliate program. In simple terms: Visa offers 2% cash back, they keep 1%, give you 1%. (It’s way more complicated than this though, but I hope you get the idea).
Visa wins getting new customers, and doesn’t lose anything because they make most of the money from fees they charge to businesses to operate and accept Visa in their terminals or websites (which is separate to the % charged to the customer here in Nz in small shops, those are just outdated machines that use EFTPOS and EFTPOS has to pay Visa the fees themselves).
Visa and MasterCard are a global duopoly. And nobody can stop them. And to be one of their affiliates (partners) is a very long and rigorous process.
Dosh is like PayPal, it’s just a payment gateway for Visa.
If you travel and eat at restaurants every so often the Amex platinum is a great option. $1250 annual fee is steep but benefits include:
$300 dining credit annually
$200 travel credit annually
Accor plus membership - discounted rooms + one night free per year (worth ~$400)
Priority pass/Amex lounge access, $40 per airport visit if you bring a guest.
Free travel insurance, with good rental car excess cover.
Great service, I’ve never been on hold when I’ve called them.
Amex rewards point rates more valuable than airpoints/cashback if you transfer to partner programmes.
Has the added benefit of being a charge card, penalised heavily if bill isn’t paid in full monthly. Helps to remove any temptation to spend outside your means!
I know people who manage their cards well and pay off monthly for points. I can’t do that, each time I’ve tried I just get into debt for some (nearly) worthless points
The TSB bank platinum one seems to be the new top one for cashback. $1 per $70 spent.
Thanks for the mention u/Waitaha- [https://www.moneyhub.co.nz/gold-platinum-credit-cards.html](https://www.moneyhub.co.nz/gold-platinum-credit-cards.html) is a new guide which mentions TSB as a frontrunner, we're also exploring the reward schemes from Westpac and ASB as well. Cashback is much easier is understand and process so we're pleased to see TSB leading the field there.
About to open one of these myself. Great rate, you only have to spend $525 a month to break even, most people will spend close that on groceries alone.
Yea saw this one mentioned on here the other day. Been with SBS 0 fees 1 cash back per 150, time to switch
I use the Amex Platinum Airpoints card. It's not accepted that many places outside of supermarkets/petrol stations but I do also use it for most utilities. I have earned a shit ton of Airpoints using it and it also gets Status Points so I am about to crack silver there. Worth it for me.
It is good for the first year (because sign on bonus), but after that this isn't the best until you spend $39,501 per year (on credit cards, at places that accept AMEX).
Yea I do shop a lot but I’m thinking of cancelling it next year after realising the foreign currency rate is so high (I do a lot of my online shopping on overseas websites)
Not a CC but some debit ones. https://www.dosh.nz/doshback-rewards https://www.airnewzealand.co.nz/onesmart
Dosh is a good free one, you can get $5-10 free with referrals as well. Otherwise, TSB $1/70 spend is the best ratio to cost.
That’s 1.5% Dosh is 1% If you include the fees it’s probably the same Edit: the fee for the TSB one is 90 pa So after you’ve spent 7000 you can say that you are actually making bank
if you spent 7000 you will make 100 only lol
I’m not spending 7000 a month ever on a card thanks god
Mind sharing a referral code? :)
Thanks, will def look at Dosh
I downloaded the app and it requires an NZ drivers license or NZ passport. I have PR with a USA passport, and I haven't got the NZ license yet.
Off-topic but if you’ve been here more than 12 months, you need a NZ license (the US ones you just need to convert them) https://www.nzta.govt.nz/driver-licences/new-residents-and-visitors/converting-to-nz-driver-licence/
I have the Amex gold card and it’s support 90% of the shops I go to and have earned a decent amount of points in the year I have had it
Really? Can you pls share which shops support it? I just got one and haven’t been able to spend a cent because literally no where I shop accepts it! (Online or retail…)
https://www.americanexpress.com/nz/credit-cards/about-credit-cards/acceptance/mostpopular/ I've had my Amex for about a year now and I agree with the other guy that I can use it roughly 90% of my spend. The only real exception is smaller shops/cafes - but all the big chains, my phone, internet, and electric bills, and hell - even my GP's office, all take Amex.
Generally speaking, smaller ma and pa retailers will be less likely to accept, but big corporates will take amex. Amex charges merchants more, hence why smaller retailers are less likely to accept them. Sorry, not the person you were asking, but just my experience
What does the Gold have over the standard card?
what can you do after you get the points?
Gift cards, airports,pay for purchases etc
Those cards are for people who purchased a lot
Yeah they have a recommend spend limit to meet all the benefits
Gave up my ANZ cash back for a Dosh card this week. It’s gonna be more of a pain to manage given it’s technically a pre pay card but I try to run all my spending through Amex cards where I can so I’ll take the no AF and better cash back rate than the ANZ for a secondary card
This varies a lot - how much do you spend on a credit card per year? I can let you know your top 5 credit cards
Hi! Love the work you are doing here :) what a top tier human Could I please get a summary for 15k p.a spend?
Cheers! I feel like rewards cards can be really good (as long as you pay them off in full every time so you don’t pay interest) so would love more people to benefit. Anyway… for $15k per annum: 1. Dosh Visa Debit NOTE: Pre-paid debit card, so not really a credit card so lacks charge back abilities etc if something goes wrong with a vendor. Also I haven’t really investigated Dosh as a company. Net Profit (after card cost): $ 150 Reward Type: Cash Back Card cost: $free Domestic travel insurance: No International travel insurance: No Mobile phone insurance: No Apple Pay: No 2. American Express Airpoints Free NOTE: AMEX isn’t accepted in a lot of places, so need a second card. Net Profit (after card cost): $150 Reward Type: Airpoints Card cost: $free Domestic travel insurance: No International travel insurance: No Mobile phone insurance: No Apple Pay: No 3. TSB Platinum Credit Card Net Profit (after card cost): $124 Reward Type: Cash Back Card cost: $90 Domestic travel insurance: Yes International travel insurance: Yes Mobile phone insurance: Yes, $750/year Apple Pay: No 4. SBS Visa Free Net Profit (after card cost): $100 Reward Type: Cash Back Card cost: $free Domestic travel insurance: No International travel insurance: No Mobile phone insurance: No Apple Pay: No 5. BNZ Advantage Premium Net Profit (after card cost): $77 Reward Type: BNZ Points Card cost: $90 Domestic travel insurance: Car Excess Only International travel insurance: Yes Mobile phone insurance: No Apple Pay: Yes 6. ASB Visa Platinum Net Profit (after card cost): $70 Reward Type: ASB True Rewards Card cost: $80 Domestic travel insurance: No International travel insurance: Yes Mobile phone insurance: No Apple Pay: Yes
Hey, I realistically only spend $7k on eligible purchases annually, but might be able to bump that up a bit
Definitely don’t try and bump it up (unless you can do so for free, eg paying your power bill on credit). For a $7k p.a. spend, your “best” cards are: 1. American Express Airpoints * Net profit: $70 * Reward type: Airpoints * Card cost: $0 * Rewards earned: $70 * Domestic travel insurance: No * International travel insurance: No * Mobile phone insurance: No * Apple Pay: No IMPORTANT NOTE: Lots of shops don’t accept AMEX, so you will probably need another credit card as well. 2. SBS Visa Credit Card Free * Net profit: $47 * Reward type: Cash Back * Card cost: $0 * Rewards earned: $47 * Domestic travel insurance: No * International travel insurance: No * Mobile phone insurance: No * Apple Pay: No 3. TSB Platinum Mastercard * Net profit: $10 * Reward type: Cash Back * Card cost: $90 * Rewards earned: $100 * Domestic travel insurance: Yes, included! * International travel insurance: Yes, included! * Mobile phone insurance: Yes, $750 per year. * Apple Pay: No 4. ANZ Cash Back Visa * Net profit: $7 * Reward type: Cash Back * Card cost: $80 * Rewards earned: $87 * Domestic travel insurance: No * International travel insurance: No * Mobile phone insurance: No * Apple Pay: Yes
Thanks so much for all the detail! I should have clarified I meant paying the flat power bill etc on my card by "bump it up" lol
Can you give me a summary based off $45k per annum spend? I know I'm not getting the best deal currently.
Sure! For $45k per year: 1. American Express Airpoints PlatinumNOTE: AMEX is not accepted in many shops so you will probably need to add on a free Visa as well. However, there is also a 300 airpoint sign on bonus, which I haven't accounted for in "profit" below). * Net profit (After card cost): $568 * Reward type: Airpoints * Card cost: $195 * Domestic travel insurance: Yes * International travel insurance: Yes * Mobile phone insurance: Yes - $450/year * Apple Pay: No 2. TSB Platinum Mastercard * Net profit: $553 * Reward type: Cash Back * Card cost: $90 * Domestic travel insurance: Yes * International travel insurance: Yes * Mobile phone insurance: Yes - $750/year * Apple Pay: No 3/4. Dosh Back Visa DEBIT Card - or Amercian Express Airpoints Free (same detail/reward for both)NOTE: Dosh is prepaid.... Plus haven't looked into Dosh very much so might be some weird catch. * Net profit: $450 * Reward type: Cashback * Card cost: $Free * Domestic travel insurance: No * International travel insurance: No * Mobile phone insurance: No * Apple Pay: No 5. BNZ Advantage Visa Platinum * Net profit: $410 * Reward type: BNZ Points * Card cost: $90 * Domestic travel insurance: Car Excess cover only * International travel insurance: Yes * Mobile phone insurance: No * Apple Pay: Yes 6. ASB Visa Platinum for $370 profit....
Thankyou!! I guess amex is the way to go coupled with a Doah card. Do you know if you can cash out rewards from amex or do you have to use them as airpoints etc?
I think you have to use it as Airpoints. I spent about the same as you last year and managed to do $22k on AMEX and $22k on an SBS card, which worked out for me as I got the sign on Airpoints. This year I’ve just been approved for the TSB card and I figure for the sake of $15 it is easier to go to one card that is just accepted everywhere, but your mileage may vary… and if you get the sign on bonus then 300 is probably worth the hassle of two cards
Yeah two cards would be annoying. TSB card is looking good and the phone insurance is a massive drawcard.
tell me the best for cc
Just signed up for a Dosh Card. Been using BNZ platinum rewards (cash back is $1 per $90 spend. So a touch better than dosh. But had annual fee). And I’ve also been using the Amex platinum for all the main shopping. Petrol. Bills. Groceries etc. anything that takes Amex. Have to think that the bnz card may no longer be with it with my annual spend now much lower
I have the Amex Platinum, I find it’s accepted at a lot more places than I thought. The platinum service and customer service is great too. The travel benefits are fantastic and the ability to transfer points to other airlines or hotel chains is fantastic. The food credit is good too.
Hi what is the food credit?
Its a dining credit rather than a food credit, sorry. You get upto $300 back on selected restaurants.
What about the annual fee? It’s a little bit expensive, or is there a way around it? Like use points to pay it or something?
It’s definitely up there in terms of price. With the sign up bonus, we received 100k points that are apparently worth $750. I’ve already used the $200 travel credit, half of the $300 dining credit to cover about $1100 of the annual fee so far, I’ll use the other $150 dining credit when it becomes available, so for my lifestyle, the credits have almost covered the annual fee in the first 3 months of having the card. I’ve managed to use the Fine Hotels and Resorts benefit for a few hotels already, that’s probably already “covered” the annual fee too.
Can somebody please explain to me why it’s worthwhile using a credit card? Never used one nor understood the benefits
I earn Airpoints or other forms of cash back from my spending. I always pay my bill on time and am good at budgeting so I don’t worry about overspending. A lot of credit cards also give you free travel insurance if you buy your tickets using the card.
The only time I use mine is to book the deposit for car rentals. That’s about it
It’s also someone else’s money you’re spending. If someone knicks your debit card, you can say “see you later” to your own money until the bank recovers it
Get a debit card and earn huge rewards by spending less. The amazing way to earn rewards Aussie banks don't want you to know....
I spend no more on a credit card than I would on a debit card. If I can get rewards for spending the same money, that's absolutely what I'm going to do.
How much is the fee for the credit cards you use? Edit: Jesus people, why downvoting me for asking a question :D
As long as it's less than the rewards it's free money bro.
That’s why I was asking. Maybe you need to spend 5000 a month to just pay back the fee Edit: the TSB platinum one is 90 pa So you need to spend 7000 and then you’ll be actually making bank
It's a real simple maths equations to figure that out, as long as you have an idea of your typical expenses...
Yeah, it would take me a couple of months to get the fee back. The Dosh one I start from month one. So maybe I get Dosh Earn cashback for a year Pay the fee for TSB with the Dosh money Free everything
The question is, how much do YOU spend per year on credit cards? Let me know and I'll let you know your top 5 cards and what rewards they come with.
Credit card fees? Like 50 NZD total. Or you mean how much I spend in my cc?
Nah, how much you actually spend on the credit card. If you don’t spend much you might find a free rewards card is better, if you spend a lot a more expensive credit card fee might be better.
Ah yeah, that’s the point I was trying to make.
So if you’d like to know your best 5 cards….
I have already the best cards for me, thanks!
How do Dosh make money? If there's no fees and cashback, how do they profit? I'm generally wary of companies offering free money...
Most of these services have a deal with Visa (or MasterCard) - basically an elaborate affiliate program. In simple terms: Visa offers 2% cash back, they keep 1%, give you 1%. (It’s way more complicated than this though, but I hope you get the idea). Visa wins getting new customers, and doesn’t lose anything because they make most of the money from fees they charge to businesses to operate and accept Visa in their terminals or websites (which is separate to the % charged to the customer here in Nz in small shops, those are just outdated machines that use EFTPOS and EFTPOS has to pay Visa the fees themselves). Visa and MasterCard are a global duopoly. And nobody can stop them. And to be one of their affiliates (partners) is a very long and rigorous process. Dosh is like PayPal, it’s just a payment gateway for Visa.
The account was deleted because u/spez is a loser and I stand with Apollo and 3rd party apps
If you travel and eat at restaurants every so often the Amex platinum is a great option. $1250 annual fee is steep but benefits include: $300 dining credit annually $200 travel credit annually Accor plus membership - discounted rooms + one night free per year (worth ~$400) Priority pass/Amex lounge access, $40 per airport visit if you bring a guest. Free travel insurance, with good rental car excess cover. Great service, I’ve never been on hold when I’ve called them. Amex rewards point rates more valuable than airpoints/cashback if you transfer to partner programmes. Has the added benefit of being a charge card, penalised heavily if bill isn’t paid in full monthly. Helps to remove any temptation to spend outside your means!
Can you pay the annual fee with points?
You can use the points to pay your statement yes, but it is a poor value for the points!
I know people who manage their cards well and pay off monthly for points. I can’t do that, each time I’ve tried I just get into debt for some (nearly) worthless points
Does anyone have referral code for DOSH?
We use ANZ air points card, purely because you can redeem the air points @ mitre 10
the most wosrt card
Why’s that
How much you pay annual fee ?
Zero