How unfortunate that just as we are able to travel, all of a sudden, we can less afford to. As the coronavirus crisis is fading, interest rates are now starting to bite.However, don’t just think about those that have been lying there dormant, but those you can earn for ‘free’.Jim Rice
In first place is ANZ’s Frequent Flyer Black card. It is not cheap – the annual fee is $425 and the interest rate, if you are silly enough to carry over a balance and therefore incur that interest, is 20.24 per cent. But there are 100,000 bonus Qantas points on offer plus an extra 30,000 points if you keep the card open for longer than 12 months.
But note that, like frequent-flyer schemes themselves, there is a lot to the fine print of frequent-flyer cards. For example, the American Express Qantas Ultimate Card includes $450 worth of Qantas Travel Credits a year, which cancels out the annual fee entirely.Of course, your choice should not come down to up-front incentives. Most frequent-flyer cards are elaborate offerings so make sure you are happy it is the real best deal.
However, its two closest contenders are also both AMEX cards. In second place is the Velocity Platinum Card with a net reward return of $608.24, followed by the Explorer Credit Card, with a net return of $555.60. Next-best on a value basis is HSBC’s Premier World MasterCard - Qantas Option. The net rewards are $492.56 but you have to be prepared to take on a $10,000 credit limit .
Source: Holiday News (holidaynews.net)
NicolePedMcK I will NOT use them, ever again
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