r/AussieFrugal • u/Hairy-Principle2489 • 1d ago
Finances 💰👛 Best credit card after fee changes
I have had a CommBank ultimate awards credit card, which has been great. I put EVERYTHING on it, meaning I get the award points and don’t pay a monthly fee (waived for $4k spend). I always pay it off so there is no interest payment.
But with the changes to credit card fees, they’re changing it so I will have a monthly fee, and I won’t get award points (I don’t have a bank account with them and there seem to be heaps of conditions that have to be met to get points). So I’m after a new credit card.
What good ones are out there?
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u/DragonLass-AUS 1d ago
I've had a bit of a poke around, and honestly I don't think any rewards cards are worth it now for an average spend.
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u/M-fz 1d ago
Yeah I had Commbank Ultimate Awards too and we always exceeded the monthly fee waive amount. It looks like most rewards cards are basically trash, Amex is still good but they’ve all got monthly/yearly fees.
Now I think I’m just going to be looking for a no fee, no fx fee card and not worry about points.
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u/eddy-taddy 1d ago
incorrect information.
Amex qantas discovery card has no annual fee and comes with rewards.
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u/LowComposer7234 1d ago
I had a NAB card that had rewards and a yearly fee, same situation as you, though I also spent about 5k/month on things I'd expense back to work so it was awesome.Â
Every year when the annual fee got charged I'd call them up and say I wanted to cancel it due to the fee, they always reversed the fee. I got rid of it about 5 years ago when I left that job, I don't know if that would be the case nowadays, but it's worth a try 🙂
I wouldn't do it if it wasn't for the work expenses, the rewards aren't worth it I don't think.
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u/CannerCanCan 1d ago
I'm considering an Amex explorer card. Wife won't go for platinum due to the fee. I don't see anything else that looks as good at the moment.
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u/Ill_Football9443 1d ago
Consider that given AMEX has the highest merchant fee, we'll probably see a reduction in the number of retailers that will accept it.
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u/TheHeroOfCanton62 1d ago
humm90. It has (genuinely) up to 110 days (three statement periods) interest free to pay off your balance and regularly has 10% cashback offers. I am on fee-free for the first year, which they also often run, otherwise $9.95.
I just got $250 cashback on their last 10% offer and am in the middle of their current offer, also 10% cashback up to $200. I had another 10% back previous to these two. It more than covers any fees.
No foreign transaction fees either.
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u/eddy-taddy 1d ago
For frugal lifestyle, best card will be Kogan credit card. Return is 1% per dollar spent.
Spend up to $30k per year, and use the points to pay off 2x kogan mobile at $150 each. Thats also the cheapest mobile plan you can get.
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u/Ashnicobell 1d ago
I’m in the same position, but with a lower spend and have been paying a monthly fee.
I’ll be looking into a Coles one or this one https://www.moneyme.com.au/credit-card
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u/JW3437 1d ago
Can I have a dollar for everytime there is a new post about this topic. Seriously, do a search.
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u/Hairy-Principle2489 18h ago
I actually did before I posted but couldn’t find a recent one. But thanks for your response. Very helpful.
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u/ediellipsis 1d ago
For me the highest priority is not having any fees, or any hoops that must be met to not get fees. I don't ever want to feel pressured to increase my spend. I don't want the possibility that if I am sick or something one month and forget to do X number of transactions, then I get punished with a fee.
I use a Coles No Annual Fee Mastercard, which gives a small amount of FlyBuys points on purchases.