Thanks @wayneliem718 for letting me know. TSB are making some big changes to their cards from 8 July 2024. Interest rates are increasing and reward earn rates are decreasing. Check out the changes here: www.tsb.co.nz/cards/credit-mastercard-interest-and-reward-rates
Very helpful. I'm TSB platinum card holder and recently received their email stating "From 8 July 2024, we’ll be changing the cashback reward rate on our Platinum Mastercard from $1 for every $70 to $1 for every $100 spent." You might reconsider their rating.
Thank you Brent! Credit Cards are a lot to digest. I was bombarded with U.S-influenced companies. So, thank you for explaining the NZ offerings in Layman's terms!
Glad it was helpful! There have been a couple changes since the video was made, as two of the top cards reduced their reward points (TSB and AMEX). ASB also launched new card with no annual fee, which I recently made a video on!
My first ever credit card that I’ve got was the Amex airpoints platinum back in 2019. I find that the combo with that card + Dosh does the job for me. I used to use the SBS visa credit card too but Dosh is also free and have a better cashback rate/ better deals. The TSB plat was also a good consideration but I don’t think I would be spending over 6 grand to make that card justifiable. Amex for 95% of transactions. And Dosh where Amex isn’t accepted. Great vid Brent!
For those airpoint cards, only some of them include status point. Also will be good to mention the limit of cash back and some of the air /rewards points has expiration date
Awesome Brett, Always loved your video so much value and info packed I'm glad I was able to maximise and get the westpac hotpoints credit card for its benefits, so can use it where amex isnt accepted, and love my Airpoints platinum amex card, use it for travel, and get international travel insurance as long as i booked all flights before departing, and yes its fastest earning airpoints in NZ, however email last week says they are raising the the price for earning rate, - Mark
Hey Mark, thanks for your support of the channel since about the time it began! I was so disappointed to see the email from Amex, until now I've really sung their praises especially with the Priority Pass. The service has been great too, the fraud protection team are on top of any issues and customer support teams have always been available straight away for me. I'll definitely be reconsidering the card and whether my spending levels still substantiate it for my situation.
American express are changing their rewards rate from 1 airpoint for every 59 dollars spent to 1 airpoint for every 70 dollars spent starting from October this year.
Only 4 banks in NZ offer Apple Wallet feature (ANZ, ASB, BNZ and Wespac). Although this might not be a critical factor in deciding the credit card, its a very convenient feature to pay contactless with your smartphone. I wish other banks which offer credit cards (Kiwibank, SBS and TSB) add their cards to the Apple Wallet.
Amex Airpoints Platinum are going from $59 up to $70 to 1 Airpoint dollar on October 😢 I'm going with Westpac Airpoints Platinum due to the higher Status Point return, lower foreign transaction fee, lower cash advance rate and higher acceptance as a Mastercard
Yeah it was certainly a surprise. To the best of my knowledge, there were no regulatory changes this month to cause both Amex and TSB to substantially decrease their reward earn rates
Hi Brent, I have 2 questions regarding on the priority pass offered by Westpac, maybe you have the answer:). Does it allow you to bring one additonal guest at no cost? also, does the additional card holder also get a priority pass?
Haha I tried this with my wife in Dubai back in January (I got my card through AMEX) - turns out it's an instant $35USD charge to your accompanying credit card 😅 only the primary cardholder gets the priority pass access rights (at least from my experience). Hope this helps!
Haven't had a chance to evaluate it! Having a low rate of 9.95% and no annual fee makes it a handy card if you're new to credit cards. I just applied for it (as I mainly bank with ASB) so I can bank the $150 in sign up bonuses 😅
Gem visa is a beast of a card $65 annual fees 6 months interest free on purchase over $250 and up to 36 months intrest free at harvey normans. If you know what ur doing you cant beat it
I think the Amex gold $200 dining 'voucher' is only redeemable after spending a minimum of $100 at one of the participating restaurants. So you're looking at spending $200 additional to get that $200 dinning credit. Please correct me if I am wrong
Their website doesn't suggest this is the case. To get $100 credit, you need to spend $100+. They credit you the $100 after. "Spend $100 or more, in one transaction on your American Express® Gold Rewards Card at a participating Dining Collection restaurant and receive a $100 credit*. Valid up to 2 times a year, once per defined calendar period. That’s up to $200 back each year."
@@BrentColeman thanks for clarifying Brent. If I am understanding you correctly, as long as the single transaction is $100 or more, $100 will be credited on the same bill. I thought it was spend $100 or more and get the $100 credit on next visit. Time to put in my application then haha
Any thoughts on the surcharges at shops for credit card / payWave? Seems like cash back is pointless on credit cards when shops now charge 1-3%. Might just use a debit card instead.
In such cases I use a debit card generally. If the credit card surcharge is 2%, it isn't worth it for a 1% reward so to speak. Fortunately the largest spending for me is on groceries, petrol and transport card credit, all of which don't incur a surcharge
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Thanks @wayneliem718 for letting me know. TSB are making some big changes to their cards from 8 July 2024. Interest rates are increasing and reward earn rates are decreasing. Check out the changes here: www.tsb.co.nz/cards/credit-mastercard-interest-and-reward-rates
Do you consider the TSB platinum card still under E tier even with the new changes?
Great to see more kiwis on youtube.
Haha there's a few of us, but always room for more! 😁
Perfect timing Brent. I’m about to sign up for ASB’s credit card. Now I have to reconsider my decision. Thank you.
Glad it was useful!
Very helpful. I'm TSB platinum card holder and recently received their email stating "From 8 July 2024, we’ll be changing the cashback reward rate on our Platinum Mastercard from $1 for every $70 to $1 for every $100 spent." You might reconsider their rating.
Oh wow - They need to put that on their website!! Thanks for letting me know, that's a huge cut to the benefits.
@@BrentColeman Would that difference knock it down to a Merit grade, or does it stay as an Excellent credit card option in NZ?
Thank you Brent! Credit Cards are a lot to digest. I was bombarded with U.S-influenced companies. So, thank you for explaining the NZ offerings in Layman's terms!
Glad it was helpful! There have been a couple changes since the video was made, as two of the top cards reduced their reward points (TSB and AMEX). ASB also launched new card with no annual fee, which I recently made a video on!
So thoroughly well researched! 👏
Fantastic review! I have the ASB Platimum visa and love using the true rewards points.
Great video. One of the most entertaining things I've seen in a long time.
Glad you enjoyed it!
My first ever credit card that I’ve got was the Amex airpoints platinum back in 2019. I find that the combo with that card + Dosh does the job for me. I used to use the SBS visa credit card too but Dosh is also free and have a better cashback rate/ better deals. The TSB plat was also a good consideration but I don’t think I would be spending over 6 grand to make that card justifiable. Amex for 95% of transactions. And Dosh where Amex isn’t accepted. Great vid Brent!
Funny you say that, I do the same! Amex Airpoints Platinum as a first priority, and Dosh second. Glad you enjoyed the video!
I recently did some research. I am glad this aligns with what i found. Awesome vid.
Glad you enjoyed the video!
Brilliant video! Was planning to get a credit card and you saved me a lot of research of yhe best one to get.
Thank you! Glad you found it helpful!
For those airpoint cards, only some of them include status point.
Also will be good to mention the limit of cash back and some of the air /rewards points has expiration date
Amazing content!
Glad you enjoyed it!
Very useful and informative thank you for making the video.
Glad it was helpful!
Hi Brent, Could you do a video about investing in Bonds in NZ? Its pros and cons when compared to Term Deposits / PIE Term Deposits
Awesome Brett, Always loved your video so much value and info packed
I'm glad I was able to maximise and get the westpac hotpoints credit card for its benefits, so can use it where amex isnt accepted, and love my Airpoints platinum amex card, use it for travel, and get international travel insurance as long as i booked all flights before departing, and yes its fastest earning airpoints in NZ, however email last week says they are raising the the price for earning rate, - Mark
Hey Mark, thanks for your support of the channel since about the time it began! I was so disappointed to see the email from Amex, until now I've really sung their praises especially with the Priority Pass. The service has been great too, the fraud protection team are on top of any issues and customer support teams have always been available straight away for me. I'll definitely be reconsidering the card and whether my spending levels still substantiate it for my situation.
thank you for this
Glad you enjoyed it!
American express are changing their rewards rate from 1 airpoint for every 59 dollars spent to 1 airpoint for every 70 dollars spent starting from October this year.
Such a shame! And they announced it right after I released the video. TSB are reportedly making changes too, but made no mention on their website 😡
Only 4 banks in NZ offer Apple Wallet feature (ANZ, ASB, BNZ and Wespac). Although this might not be a critical factor in deciding the credit card, its a very convenient feature to pay contactless with your smartphone. I wish other banks which offer credit cards (Kiwibank, SBS and TSB) add their cards to the Apple Wallet.
Kiwibank do offer the Apple Wallet feature 👍
Awesome thank you for this info.
Thanks for watching and supporting the channel!
Amex Airpoints Platinum are going from $59 up to $70 to 1 Airpoint dollar on October 😢 I'm going with Westpac Airpoints Platinum due to the higher Status Point return, lower foreign transaction fee, lower cash advance rate and higher acceptance as a Mastercard
Yeah it was certainly a surprise. To the best of my knowledge, there were no regulatory changes this month to cause both Amex and TSB to substantially decrease their reward earn rates
Hi Brent, I have 2 questions regarding on the priority pass offered by Westpac, maybe you have the answer:). Does it allow you to bring one additonal guest at no cost? also, does the additional card holder also get a priority pass?
Haha I tried this with my wife in Dubai back in January (I got my card through AMEX) - turns out it's an instant $35USD charge to your accompanying credit card 😅 only the primary cardholder gets the priority pass access rights (at least from my experience). Hope this helps!
hi, thx for sharing. can you conclude all the info into a google doc online?
Hi there, what’s your thoughts on the new ASB visa Flex credit card?
Haven't had a chance to evaluate it! Having a low rate of 9.95% and no annual fee makes it a handy card if you're new to credit cards. I just applied for it (as I mainly bank with ASB) so I can bank the $150 in sign up bonuses 😅
Just saw they charge $0 for many common fee events with other cards - wow
great video
Glad you enjoyed it
Nice video
Amex just average now with the new lower earn rate. Will consider cancelling
It's a shame, and they announced it right after I made this video 🫠
Gem visa is a beast of a card $65 annual fees 6 months interest free on purchase over $250 and up to 36 months intrest free at harvey normans. If you know what ur doing you cant beat it
I think the Amex gold $200 dining 'voucher' is only redeemable after spending a minimum of $100 at one of the participating restaurants. So you're looking at spending $200 additional to get that $200 dinning credit. Please correct me if I am wrong
Their website doesn't suggest this is the case. To get $100 credit, you need to spend $100+. They credit you the $100 after. "Spend $100 or more, in one transaction on your American Express® Gold Rewards Card at a participating Dining Collection restaurant and receive a $100 credit*. Valid up to 2 times a year, once per defined calendar period. That’s up to $200 back each year."
@@BrentColeman thanks for clarifying Brent. If I am understanding you correctly, as long as the single transaction is $100 or more, $100 will be credited on the same bill. I thought it was spend $100 or more and get the $100 credit on next visit.
Time to put in my application then haha
Any thoughts on the surcharges at shops for credit card / payWave?
Seems like cash back is pointless on credit cards when shops now charge 1-3%. Might just use a debit card instead.
In such cases I use a debit card generally. If the credit card surcharge is 2%, it isn't worth it for a 1% reward so to speak. Fortunately the largest spending for me is on groceries, petrol and transport card credit, all of which don't incur a surcharge
Can you make australian version as well ??
Raymond La has done a similar video for the Australian market :)
I really like the westpac world credit card, but I'm spending around 40k-60k per annem through it. The priority pass is great.
RIP Amex airpoints platinum card reward rate just changed
I just saw 😭 TSB and Amex all changed in a couple days
So whats the best credit card
Struth NZ has become expensive. I miss the days we had the Bankcard. Now Australia is being run into the ground too. It will divide society.