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I have a question mate, do your analysis take into account that most credit card transactions now charge a transaction fee that could be anywhere between 1-3% even locally in AU. So, if for example I go down the path of getting a a card a pay for all my expenses let’s say $3k a month in order to get Qantas points, worse case:would I have paid 3%x3k per month ~$90 which is roughly ~$1000 a year… so I’m actually paying to use the credit card and paying for my points … I just did not see it, as the expense that shows on my bank statement does not reflect this, only reflects the total amount..??? Do I have this wrong???
Is the Amex card good for someone on working holiday visa with the plan on staying longer? I'm employed full time and really want a card that gives me points, especially for traveling
Another amazing video brother! Just waiting a little time for my score to increase so that I can get the AMEX now after realising with flight centre I now have Humm90 credit facility lol Hopefully point bonuses will remain the same but if not doesn't matter as will use that card long-term anyway. Just worried risking it now if I have a 2k limit. Cannot wait for your future videos!
Appreciate it! The upsized sign-up bonus for the AMEX is only until 23rd July after that I'm not sure what it will be, but the card is still great regardless for the earn rates.
@@raymondla Cool, I'll see what AMEX says when I call them but I think it should be fine to at least get a small limit and then increase it after a few months.
Hi Raymond thank you for this video. Love your insight on the cards. I’m wanting to know if the Accor or IHG credit cards are any good. As you can transfer points to like Qantas in that way you’ve got options to premium hotel stays and also transfer points to Qantas for better flights facilities. What are your opinions on this Thanks
Hi, I just got the Amex essentials rewards and I would like to know when is the best time make the payments? Or better if u have a video talking about that, thanks
Thanks for the video! I am trying to buy from American retailers with Up bank and Wise, but most of American retailers cancel my orders. Would you know a good card for that? Thanks 🙏🏼
Both of those cards should be fine to use, I don't think it's an issue with the card you're using. I'd check with the retailer as to why they're cancelling your orders
Thanks for the video mate. Is this Virgin Velocity Flyer Card offer still applicable? I can see it on the Virgin Money website but it says apply by 14 May 2024. Should I just apply for it now and satisfy those spend conditions they have specified in order to obtain the 60k Velocity points?
I got the American Express card, which you talked about in the video. I also hold the HSBC platinum card and have been holding it for more than a year. Could you suggest if it is better to close the HSBC card?
I would keep it for the time being as AMEX isn't accepted everywhere, but I'd also consider closing your HSBC and opening another Visa/Mastercard credit card to take advantage of another sign-up bonus
@@acg455 most people lack the discipline to or income to manage a credit card effectively. In addition, the points system is cheap way for a bank to incentivise use of the card. You have to spend a significant amount on the card before any points earned will afford you something material. Credit cards are one of the most lucrative, profitable products banks offer. Can you mathematically use a credit card to benefit yourself? Yes, you can, but the amount of any possible return likely won't change your life materially and probably doesn't outweigh the risk/financial burden of getting things wrong.
If you use a $0 annual fee card, you can keep your salary in either a high interest saving account or off-set account until you have to pay off the monthly balance accumulating interest or off setting.
@@selgeaus Have you ever calculated the real saving from this strategy? I've worked in banking for over a decade and can tell you it doesn't provide a tangible benefit for most people.
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Hi Raymond, great video as always, can you please do a review of all the business credit cards and sign up off at the moment? Cheers
Hey mate, I don't focus too much on business credit cards. But I know the AMEX platinum has a solid signup bonus of 350K at the moment.
I have a question mate, do your analysis take into account that most credit card transactions now charge a transaction fee that could be anywhere between 1-3% even locally in AU. So, if for example I go down the path of getting a a card a pay for all my expenses let’s say $3k a month in order to get Qantas points, worse case:would I have paid 3%x3k per month ~$90 which is roughly ~$1000 a year… so I’m actually paying to use the credit card and paying for my points … I just did not see it, as the expense that shows on my bank statement does not reflect this, only reflects the total amount..??? Do I have this wrong???
Is the Amex card good for someone on working holiday visa with the plan on staying longer? I'm employed full time and really want a card that gives me points, especially for traveling
Thanks, very useful information for me! Keep it the good work ^^
Which westpac altitude rewards card would you recommend?
Another amazing video brother!
Just waiting a little time for my score to increase so that I can get the AMEX now after realising with flight centre I now have Humm90 credit facility lol
Hopefully point bonuses will remain the same but if not doesn't matter as will use that card long-term anyway. Just worried risking it now if I have a 2k limit.
Cannot wait for your future videos!
Appreciate it! The upsized sign-up bonus for the AMEX is only until 23rd July after that I'm not sure what it will be, but the card is still great regardless for the earn rates.
@@raymondla Cool, I'll see what AMEX says when I call them but I think it should be fine to at least get a small limit and then increase it after a few months.
Hi Raymond thank you for this video. Love your insight on the cards.
I’m wanting to know if the Accor or IHG credit cards are any good. As you can transfer points to like Qantas in that way you’ve got options to premium hotel stays and also transfer points to Qantas for better flights facilities. What are your opinions on this
Thanks
i needed this thanks buddy
Glad I could help
Hi, I just got the Amex essentials rewards and I would like to know when is the best time make the payments? Or better if u have a video talking about that, thanks
Thanks for the video! I am trying to buy from American retailers with Up bank and Wise, but most of American retailers cancel my orders. Would you know a good card for that? Thanks 🙏🏼
Both of those cards should be fine to use, I don't think it's an issue with the card you're using. I'd check with the retailer as to why they're cancelling your orders
@@raymondla that’s what the bank says.. it’s very confusing.. Retailers don’t really accept I had more than 50 order cancels so far 😕
Thanks for the video mate. Is this Virgin Velocity Flyer Card offer still applicable? I can see it on the Virgin Money website but it says apply by 14 May 2024. Should I just apply for it now and satisfy those spend conditions they have specified in order to obtain the 60k Velocity points?
It should still be active, you should be good
Hi Raymond, any chance you which card would accept temporary visa applicant? I have is 4 years left in visa, but didn’t get approved for HSBCs
I got the American Express card, which you talked about in the video. I also hold the HSBC platinum card and have been holding it for more than a year. Could you suggest if it is better to close the HSBC card?
No hold onto it and use it when a retailer doesn't accept Amex
I would keep it for the time being as AMEX isn't accepted everywhere, but I'd also consider closing your HSBC and opening another Visa/Mastercard credit card to take advantage of another sign-up bonus
Credit cards are a trap, just use savings. No one became rich from using a credit card.
explain
They get rich borrowing peoples money 😂😂
@@acg455 most people lack the discipline to or income to manage a credit card effectively. In addition, the points system is cheap way for a bank to incentivise use of the card. You have to spend a significant amount on the card before any points earned will afford you something material. Credit cards are one of the most lucrative, profitable products banks offer.
Can you mathematically use a credit card to benefit yourself? Yes, you can, but the amount of any possible return likely won't change your life materially and probably doesn't outweigh the risk/financial burden of getting things wrong.
If you use a $0 annual fee card, you can keep your salary in either a high interest saving account or off-set account until you have to pay off the monthly balance accumulating interest or off setting.
@@selgeaus Have you ever calculated the real saving from this strategy? I've worked in banking for over a decade and can tell you it doesn't provide a tangible benefit for most people.
🍟🍟🧋🧋