Hi, really great to see Australian content and I am going to look into the Bendigo card. My question is with the AMEX as I am not sure what benefits we would use, we only use Oneworld and as Platinum Qantas members lounge access is not an issue. Would you mainly use it for booking and paying for travel?
Hey there! if you only use oneworld then perhaps switch it out for the AMEX Qantas Ultimate so you can accumulate Qantas frequent flyer points. But I use my AMEX for everyday expenses where the fees aren't greater than other card types.
If i already have the platinum Amex and need other cards for when Amex isn’t accepted do you still recommend this rotation but swapping out the explorer? Love your channel by the way has been very helpful ❤
I would like to know the answer to this too. Would like a card that also gets reasonable credit points but without a high card fee (given how high the platinum fees are) - I know we can’t have the best of all worlds but would be interested in your recommendations
Regarding the limitations when purchasing a property if bank looks at all the credit cards you hold... Can you just close them and for how long before you apply for the loan? Thank you!
Great content, Raymond! Appreciate for sharing it with us. What do you pay on those annual fees for the churn cards if you cancel them before one year?
Annual fees for the cards that I churn through are usually around the $200-$300 mark I'd say. Sometimes you can call up the bank to request a refund on the annual fee due to you cancelling the credit card. I successfully did this on my ANZ FF Black Card and got refunded my $375 annual fee!!
Good video but you are incorrect about the extended warranty. If the original warranty is 2 to 5 years you only get an extra 2 years. So I’d you have 3 year warranty it’ll bring it to 5 years total not 6. And any warranty above 5 years it won’t extend at all.
Congrats, I recently found you and you really produce excellent content. The one question I have (and apologies if you covered that in some video already) is about Amex cards. Do you think they are a valid option in Australia? I have a company Gold Corporate one and, between the fact that almost no one accepts it in this country and the surcharge the few who do apply when you pay with Amex, it never seemed a good deal to me for personal use. Otherwise I would go happily for a platinum. I don't mind the annual fee, it's the scarce acceptance in AU and the silly surcharges on every transaction that discourage me. Happy to be proven wrong though! Maybe a topic for a specific video 😊? Keep up the great work!
Hey Remo, appreciate that feedback definitely more content to come in the future! My personal experience is that AMEX is definitely more widely accepted than what it once was. Most restaurants that I've been to are accepting AMEX, it's probably just the smaller local restaurants that still aren't
Just found your channel great to see a Australian credit card channel….. anyway the Amex has a $400 travel credit so it could be free, if that is to much you could go with Amex platinum edge which is $195 fee/$200 credit and higher 1.5pt per dollar at supermarket and fuel seeing most Amex spend would be at these places
Platinum edge is 3 points per dollar spent at supermarkets/petrol. I've had the card 10+ years.... The card has been downgraded over time: lower airline transfer rates and travel credit replacing free domestic return flight which was a higher value.
Thanks for the video, I would however like to point out there's a weak spot of a no international fee visa card in this portfolio. As an example the Paris 2024 olympic games ticket only accept Visa as the sole payment options, I have to fork out a whopping 270 AUD for the foreign transaction fee they charged on my only Visa card (NAD black visa credit card). Also something you will need to pay with this set of combination.
im a little confused are you saying i can just close anz black card once hit the sign up bonu and get another anz black card to get the bonus again?? also does that mean you would be paing a ton in annual fees or does the rewards give you more value than the cost?
Hey mate sorry any confusion, what I meant is that you can close the ANZ Black Card once you get the sign-up bonus and then sign up for a totally different card in order to take advantage of another sign-up bonus. Yes, this does mean that you would be paying another annual fee, however the sign-up bonus you receive is worth more. If you're not comfortable constantly paying annual fees, you can often times just redeem the sign-up bonus for cash / gift cards that is greater than the annual fee that you'd be paying. If you're interested watch this video where I talk about credit card hacking / churning in detail - ruclips.net/video/ecRW53YVZmc/видео.html
Hi Raymond , i was wondering if there are any cards worth for getting reward points for overseas transactions or is it best to stick to a debit card like the bendigo bank card for overseas travel ? Thanks
Hey mate, I went through a few options for travel cards in my latest video here - ruclips.net/video/_RSLO2Ycxp8/видео.html. There's not many credit cards out there I'd recommend that give you reward points whilst also having $0 in international transaction fees, but there is one that I cover in the video so feel free to check it out.
How often should you apply for a new card and how many should you hold at once? And how does applying for a number of credit cards affect your credit score
Hey Josh, apply for new credit cards definitely impacts your credit score negatively so I'd probably recommend waiting 3-4 months in between each application. I tend to try and hold at most 3 cards at any given time.
Hey mate, there's nothing wrong with closing a credit card in Australia. In other countries like the US, closing your credit card may negatively impact your credit score but it actually improves it here in Australia. If you're interested in knowing more about credit card churning I've done a full video on it here - ruclips.net/video/ecRW53YVZmc/видео.html
Hey John, they're all similar and to be used when they travelling internationally. There's a little bit of hesitation on my end to recommend the 28 Degrees Latitude Card given the latest privacy breach. Bendigo Ready Card has a small advantage in my opinion given the additional insurance benefits over the Bankwest. Hope that helps!
Hi thanks for the video really helpful. I am new to credit cards and was wondering if i pay for my strata or council fees with my credit cards does that count towards meeting my sign up bonus spend criteria? Thanks
Hey mate, I'd read the T&C of your credit card as it varies to check for sure, however often times payments to state or government bodies don't count towards spend criteria unfortunately.
Informative video as always! I've been on the Amex Explorer for a while now and it's served me well with all of it's benefits. I just recently acquired the Platinum Charge Card and was wondering if it's worth keeping the Explorer? I don't see myself using it at all besides combining its travel credit (which pays for itself in the annual fee) with the Platinum, as there doesn't really seem to be anything the Explorer does that the Platinum doesn't also do.
Hey Brandon, definitely don't need the Explorer anymore if you've got the Platinum. The platinum also gives you more AMEX reward points per $ spent so it wouldn't make sense to use your Explorer on expenses anyway.
Nice channel man, keep the videos coming! I did have a quick question around the points. If for example, I had a “churner card”, that gave me x amount of points, would they ever expire? I’m hoping to build up enough points for an international flight visa Singapore Airlines (KrisFlyer) but obviously want to avoid losing out. Do you typically transfer bonus points across to your airline rewards program of choice, then cancel the churner card?
This depends on what points you are accruing as they differ from program to program. For example: AMEX reward points will expire if you don't have an eligible credit card that earns AMEX reward points. Qantas Frequent Flyer points will expire if no new points are accrued within a 18 month timespan. You'd have to look into KrisFlyer program specifically, but I'd imagine a similar policy to Qantas.
@@raymondla Oh wow thanks for the reply! I previously had a total credit limit of $25,000 and not knowing much about credit cards back then I applied for the Citi prestige which had a minimum limit of $20,000 and I got rejected even though I have a 100% payment history and 1000+ credit score, with stable income that met the minimum salary criteria. I suspect that they saw my already high existing credit limit and gave me the ❌ 🥲 I've reduced my credit limit since then and I'm hoping to get an approval when I try again in a few more months.
I have question.. How do you use them? For exemple I take the Amex explorer and use it for flight ticket that cost 10k but I have the money to pay cash, how long do I take to pay the credit to not get interest but still get the rewards that comes with it? Cheers and great content 👍🏽
Hey mate, you typically have between 44-55 days before you have to pay your credit card balance off. You'll get a statement from your credit provider once a month with the amount you'll need to pay back. Let me know if you have any other questions!
@@raymondla Thanks Ray, also to be able to access the $400 travel credit of this specific card do you have to pay a certain amount each year or just paying the yearly fee is enough?
Hey Jonah, I've created a few videos on the topic already check them out here, let me know if you have any further questions after :) Qantas Credit Cards - ruclips.net/video/rHEG0BsYZVU/видео.html How To Use Qantas Points - ruclips.net/video/g5lU17ui9Vo/видео.html
Hi Raymond, great video and very informative. I am currently using an AMEX explorer which I love but have moved to a location where most shops do not take AMEX. I personally like to minimise the amount of credit cards I use and do not churn, what's a good master/visa credit card to pair with my explorer?
Hey mate. For churn cards, once you have gotten the points, how long do you wait before closing it? I waited 11 months before closing it. Is it too long? Once i close i wait 3/4 months before applying for a new one.
Hey mate, I aim to churn around 2-3 cards per year for reference. Once I close a card I'll open up a new card pretty much straight after, no need to wait in-between closing and opening a new card.
Hey there! Check out this video where I talk about credit card hacking in detail! I actually talk about the frequency of opening/closing accounts - ruclips.net/video/ecRW53YVZmc/видео.html
Great video Raymond ! I'm looking for a just a rewards credit card with low annual fee and additional card holder is free. Frequent flyer points are not essential. Any suggestions? Also, what do you think about the Bankwest Zero Platinum to replace the Bendigo? Cheers
Hey Johnny glad you found the video useful. Have a look at the American Express Platinum Edge, fee-free for the first year and you can have up to 4 additional cardholders free of charge. AMEX rewards points are also probably the best on the market due to their flexibility and you also get $200 worth of travel credit. Bankwest is a good alternative as it is fee free for international purchases well only difference is you don't get the extra insurance.
Appreciate you taking on the feedback. It'll be worthwhile for you to do an update every 6/12 months, particularly if there has been any changes
Hey Timmy, no problem at all it was a great video idea! Will definitely look to do updates in the future
Hi, really great to see Australian content and I am going to look into the Bendigo card. My question is with the AMEX as I am not sure what benefits we would use, we only use Oneworld and as Platinum Qantas members lounge access is not an issue. Would you mainly use it for booking and paying for travel?
Hey there! if you only use oneworld then perhaps switch it out for the AMEX Qantas Ultimate so you can accumulate Qantas frequent flyer points. But I use my AMEX for everyday expenses where the fees aren't greater than other card types.
Thanks for your input to answer our questions regarding the credit card selection.
No problem Jasper, glad you found the video useful!
I've been following your videos for a while now and am always impressed by the gems you produce. Thank you for your informative yet concise videos!
Thanks Kevin glad you're enjoying the content 🙂
If i already have the platinum Amex and need other cards for when Amex isn’t accepted do you still recommend this rotation but swapping out the explorer? Love your channel by the way has been very helpful ❤
I would like to know the answer to this too. Would like a card that also gets reasonable credit points but without a high card fee (given how high the platinum fees are) - I know we can’t have the best of all worlds but would be interested in your recommendations
Regarding the limitations when purchasing a property if bank looks at all the credit cards you hold... Can you just close them and for how long before you apply for the loan? Thank you!
Yes - generally if you work with a mortgage broker they'll tell you to close down all your credit cards prior to going to a bank for a pre-approval
ANZ card maximum $1-1 point up to $7500.00 then .5 a point per dollar spent
Great content, Raymond! Appreciate for sharing it with us. What do you pay on those annual fees for the churn cards if you cancel them before one year?
Annual fees for the cards that I churn through are usually around the $200-$300 mark I'd say. Sometimes you can call up the bank to request a refund on the annual fee due to you cancelling the credit card. I successfully did this on my ANZ FF Black Card and got refunded my $375 annual fee!!
Just noticed the timestamps don’t seem to match this video, just a heads up
I have both the Amex essential credit card to earn points and a 0 dollar fee credit card to use when a place doesn’t accept Amex
Sounds like a solid combination if you don't want to pay any annual fees!
Good video but you are incorrect about the extended warranty. If the original warranty is 2 to 5 years you only get an extra 2 years. So I’d you have 3 year warranty it’ll bring it to 5 years total not 6. And any warranty above 5 years it won’t extend at all.
Thanks for that pickup Rahul
Congrats, I recently found you and you really produce excellent content. The one question I have (and apologies if you covered that in some video already) is about Amex cards. Do you think they are a valid option in Australia? I have a company Gold Corporate one and, between the fact that almost no one accepts it in this country and the surcharge the few who do apply when you pay with Amex, it never seemed a good deal to me for personal use. Otherwise I would go happily for a platinum. I don't mind the annual fee, it's the scarce acceptance in AU and the silly surcharges on every transaction that discourage me. Happy to be proven wrong though! Maybe a topic for a specific video 😊? Keep up the great work!
Hey Remo, appreciate that feedback definitely more content to come in the future! My personal experience is that AMEX is definitely more widely accepted than what it once was. Most restaurants that I've been to are accepting AMEX, it's probably just the smaller local restaurants that still aren't
I use mine for groceries, restaurants , petrol. Even local shops have become part of the “shop local’ campaign . More places to use it
Hi Ray Great videos mate!
What do you think about UP Bank debit card compared to the Macquire Bank debit card?
It's a great alternative, really good app, UI and no international ATM withdrawal fees or FX fees!
I'm new to credit cards thanks for the information!
No problem Scott, glad it was helpful.
Just found your channel great to see a Australian credit card channel….. anyway the Amex has a $400 travel credit so it could be free, if that is to much you could go with Amex platinum edge which is $195 fee/$200 credit and higher 1.5pt per dollar at supermarket and fuel seeing most Amex spend would be at these places
Hey Shane, agree the platinum edge is another great AMEX card to consider!
Platinum edge is 3 points per dollar spent at supermarkets/petrol. I've had the card 10+ years.... The card has been downgraded over time: lower airline transfer rates and travel credit replacing free domestic return flight which was a higher value.
hi,
If I have 3 separate businesses each with their identical rewards credit card, can points from all 3 cards be combined when redeeming?
Thanks for the video, I would however like to point out there's a weak spot of a no international fee visa card in this portfolio. As an example the Paris 2024 olympic games ticket only accept Visa as the sole payment options, I have to fork out a whopping 270 AUD for the foreign transaction fee they charged on my only Visa card (NAD black visa credit card). Also something you will need to pay with this set of combination.
Hey Nulli, good pick up that I hadn't thought about before. I'll look into what options would be available to fill that void in a future video.
Will the Macquarie Platinum debit card be accepted at Hotels in the US & Europe?
Yes it should be!
im a little confused are you saying i can just close anz black card once hit the sign up bonu and get another anz black card to get the bonus again?? also does that mean you would be paing a ton in annual fees or does the rewards give you more value than the cost?
Hey mate sorry any confusion, what I meant is that you can close the ANZ Black Card once you get the sign-up bonus and then sign up for a totally different card in order to take advantage of another sign-up bonus. Yes, this does mean that you would be paying another annual fee, however the sign-up bonus you receive is worth more. If you're not comfortable constantly paying annual fees, you can often times just redeem the sign-up bonus for cash / gift cards that is greater than the annual fee that you'd be paying. If you're interested watch this video where I talk about credit card hacking / churning in detail - ruclips.net/video/ecRW53YVZmc/видео.html
@@raymondla ok lol i thought so that makes way more sense thought it sounded to good to be true. thanks a lot ill definetly check your other video
Hi Raymond , i was wondering if there are any cards worth for getting reward points for overseas transactions or is it best to stick to a debit card like the bendigo bank card for overseas travel ? Thanks
Hey mate, I went through a few options for travel cards in my latest video here - ruclips.net/video/_RSLO2Ycxp8/видео.html. There's not many credit cards out there I'd recommend that give you reward points whilst also having $0 in international transaction fees, but there is one that I cover in the video so feel free to check it out.
How often should you apply for a new card and how many should you hold at once? And how does applying for a number of credit cards affect your credit score
Hey Josh, apply for new credit cards definitely impacts your credit score negatively so I'd probably recommend waiting 3-4 months in between each application. I tend to try and hold at most 3 cards at any given time.
I thought you said in a prior video to never close a credit card? How can you churn without closing or is it acceptable in this instance?
Hey mate, there's nothing wrong with closing a credit card in Australia. In other countries like the US, closing your credit card may negatively impact your credit score but it actually improves it here in Australia. If you're interested in knowing more about credit card churning I've done a full video on it here - ruclips.net/video/ecRW53YVZmc/видео.html
What is your opinion of Bendigo Ready Card vs Bankwest Zero Platinum or 28 Degrees Latitude Cards?
Hey John, they're all similar and to be used when they travelling internationally. There's a little bit of hesitation on my end to recommend the 28 Degrees Latitude Card given the latest privacy breach. Bendigo Ready Card has a small advantage in my opinion given the additional insurance benefits over the Bankwest. Hope that helps!
Hi thanks for the video really helpful. I am new to credit cards and was wondering if i pay for my strata or council fees with my credit cards does that count towards meeting my sign up bonus spend criteria? Thanks
Hey mate, I'd read the T&C of your credit card as it varies to check for sure, however often times payments to state or government bodies don't count towards spend criteria unfortunately.
thanks for the reply i thought so :(
Informative video as always! I've been on the Amex Explorer for a while now and it's served me well with all of it's benefits. I just recently acquired the Platinum Charge Card and was wondering if it's worth keeping the Explorer? I don't see myself using it at all besides combining its travel credit (which pays for itself in the annual fee) with the Platinum, as there doesn't really seem to be anything the Explorer does that the Platinum doesn't also do.
Hey Brandon, definitely don't need the Explorer anymore if you've got the Platinum. The platinum also gives you more AMEX reward points per $ spent so it wouldn't make sense to use your Explorer on expenses anyway.
Nice channel man, keep the videos coming! I did have a quick question around the points.
If for example, I had a “churner card”, that gave me x amount of points, would they ever expire?
I’m hoping to build up enough points for an international flight visa Singapore Airlines (KrisFlyer) but obviously want to avoid losing out.
Do you typically transfer bonus points across to your airline rewards program of choice, then cancel the churner card?
Would love to know this too.
This depends on what points you are accruing as they differ from program to program. For example:
AMEX reward points will expire if you don't have an eligible credit card that earns AMEX reward points.
Qantas Frequent Flyer points will expire if no new points are accrued within a 18 month timespan.
You'd have to look into KrisFlyer program specifically, but I'd imagine a similar policy to Qantas.
Hey Raymond, thanks for the awesome content. What total credit limit would you keep the cards at to ensure that the churn card is always approved?
Hey mate, I typically just sign up for the lowest credit limit that the card allows
@@raymondla Oh wow thanks for the reply! I previously had a total credit limit of $25,000 and not knowing much about credit cards back then I applied for the Citi prestige which had a minimum limit of $20,000 and I got rejected even though I have a 100% payment history and 1000+ credit score, with stable income that met the minimum salary criteria. I suspect that they saw my already high existing credit limit and gave me the ❌ 🥲 I've reduced my credit limit since then and I'm hoping to get an approval when I try again in a few more months.
I have question.. How do you use them? For exemple I take the Amex explorer and use it for flight ticket that cost 10k but I have the money to pay cash, how long do I take to pay the credit to not get interest but still get the rewards that comes with it?
Cheers and great content 👍🏽
Hey mate, you typically have between 44-55 days before you have to pay your credit card balance off. You'll get a statement from your credit provider once a month with the amount you'll need to pay back. Let me know if you have any other questions!
@@raymondla
Thanks Ray, also to be able to access the $400 travel credit of this specific card do you have to pay a certain amount each year or just paying the yearly fee is enough?
hey man, any tips for fresh 18 year olds wanting to make the most of points and qantas too for travel?
Hey Jonah, I've created a few videos on the topic already check them out here, let me know if you have any further questions after :)
Qantas Credit Cards - ruclips.net/video/rHEG0BsYZVU/видео.html
How To Use Qantas Points - ruclips.net/video/g5lU17ui9Vo/видео.html
Ray you the real MVP with these uploads. Can't stop watching them!
Glad you're enjoying the content Curt!
Hi Raymond, great video and very informative. I am currently using an AMEX explorer which I love but have moved to a location where most shops do not take AMEX. I personally like to minimise the amount of credit cards I use and do not churn, what's a good master/visa credit card to pair with my explorer?
Hey mate - glad you found the useful informative, check out some of the credit cards in this video - ruclips.net/video/b5aKruE5hbE/видео.html
Hey mate. For churn cards, once you have gotten the points, how long do you wait before closing it? I waited 11 months before closing it. Is it too long? Once i close i wait 3/4 months before applying for a new one.
Hey mate, I aim to churn around 2-3 cards per year for reference. Once I close a card I'll open up a new card pretty much straight after, no need to wait in-between closing and opening a new card.
How long after getting a credit card should you go for a second in order to increase bonus points? Is it too risky to do it within 3 months?
Hey there! Check out this video where I talk about credit card hacking in detail! I actually talk about the frequency of opening/closing accounts - ruclips.net/video/ecRW53YVZmc/видео.html
Great video Raymond ! I'm looking for a just a rewards credit card with low annual fee and additional card holder is free. Frequent flyer points are not essential. Any suggestions? Also, what do you think about the Bankwest Zero Platinum to replace the Bendigo? Cheers
Hey Johnny glad you found the video useful. Have a look at the American Express Platinum Edge, fee-free for the first year and you can have up to 4 additional cardholders free of charge. AMEX rewards points are also probably the best on the market due to their flexibility and you also get $200 worth of travel credit. Bankwest is a good alternative as it is fee free for international purchases well only difference is you don't get the extra insurance.
@@raymondla Cheers