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  1. #11

    Default

    yes good question, are we banking with the wrong banks????Maccachic, tell us the secrets !!

  2. #12
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,217

    Default

    Thoroughbred visa from National bank I put everything thru it I can, have it set up to pay it off fully at the end of the month and at the end of the year I get 1% cash back (think you get .5% untill you spend over $3000).

    Its $50 per year.

  3. #13
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    4,525

    Default

    BNZ offers interest on credit on your credit card.

  4. #14
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    10,325

    Default

    Quote Originally Posted by Maccachic View Post
    Thoroughbred visa from National bank I put everything thru it I can, have it set
    up to pay it off fully at the end of the month and at the end of the year I get
    1% cash back (think you get .5% until you spend over $3000). Its $50 per year.
    What are the fees? I.e. is that $50
    net, or you have fees to pay out of
    that amount?

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  5. #15
    Join Date
    Jul 2010
    Location
    Auckland City, why invest else where?
    Posts
    987

    Default

    I suggest you get a credit card and use it often, but use it similar to a cheque account where you always clear the balance within a month, but preferably every week.

    this way, the bank can see how well you manage your finances.

    If you can manage your credit card debt and never have a cent charged for interest, then this demonstrates you have financial literacy and will help convince the bank that you can manage your mortgage as well.
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  6. #16
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,217

    Default

    Sorry fees are $50 a year so I get to keep the balance of 1% of whatever I spend. Nice to get a little back when say you have a large car bill etc

    http://www.nationalbank.co.nz/person...hbredcard.aspx

  7. #17
    Join Date
    Sep 2007
    Location
    Christchurch
    Posts
    1,250

    Default

    Quote Originally Posted by Maccachic View Post
    Thoroughbred visa from National bank I put everything thru it I can, have it set up to pay it off fully at the end of the month and at the end of the year I get 1% cash back
    Us too. We put everything we possibly can through the card and get a nice payout back. Fees are low too.

    Consumer did a report a while ago on cc reward schemes. This wasn't the highest return but it's sure the most convenient. And a lot cost you money!

    On travel insurance from credit cards: you have to pay half your prebooked travel through the card. That costs - travel agents charge a few percent extra if you pay by credit card. On an expensive trip it adds up.
    Last edited by One; 04-04-2012 at 06:34 PM.

  8. #18
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    10,325

    Default

    Quote Originally Posted by NovInvestor View Post
    I suggest you get a credit card and use it often, but always clear the
    balance within a month, but preferably every week.
    Why on earth would you pay weekly, as opposed to in-full-every-month?
    What's the (personal) rationale for that? I don't imagine the bank cares
    if in-full-every-month was achieved once-a-month or weekly. Monthly
    seems best, to me.

    Quote Originally Posted by One View Post
    Us too. We put everything we possibly can through the card and get
    a nice payout back. Fees are low too.

    Consumer did a report a while ago on cc reward schemes. This wasn't
    the highest return but it's sure the most convenient. And a lot cost
    you money!
    Huh? I thought they all cost money? (I presume you mean 'net' at the
    end of the year. ) What's the 'most convenient' comment refer to?

    I've opted for the one that delivers the best in airpoints quantity. (Not
    Amex, though!) Last year, a bit over $40k. That's about $455 worth
    of AirNZ travel, plus reduced Koru fees, by $145. No extra charge for
    additional cardholders, either. So that's $595 minus $200 annual fee,
    giving me a net benefit of $395 - roughly. (Not counting the travel
    insurance in those figures, as it's not 'regular.')

    All fees refunded if annual spend exceeds $60k/year. Ha! Wonder what
    else I can put on the card? The 'convenience fee' charged for making
    rates payments just might offset that. Must check!

    Quote Originally Posted by One View Post
    On travel insurance from credit cards: you have to pay half your pre-
    booked travel through the card. That costs - travel agents charge
    a few percent extra if you pay by credit card. On an expensive trip
    it adds up.
    I haven't used a Travel Agent for a few years, now. I found them to
    be not very good value, so I book it all myself, over the 'Net, now.

    Quote Originally Posted by Maccachic
    Thoroughbred visa from National bank I put everything thru it I can, have
    it set up to pay it off fully at the end of the month and at the end of the
    year I get 1% cash back (think you get .5% until you spend over $3000).

    Fees are $50 a year so I get to keep the balance of 1% of whatever I spend.
    Nice to get a little back when say you have a large car bill etc.
    What sort of annual figure are we talking about? Irrespective, pay-in-full-
    every-month is the way to go, alright.
    Last edited by Perry; 04-04-2012 at 07:20 PM.

    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great Christmas gift idea for your lady love.
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  9. #19
    Join Date
    Sep 2008
    Posts
    4,649

    Default

    Quote Originally Posted by Keys View Post
    BNZ offers interest on credit on your credit card.
    is that like a debit card?
    people keep trying to rewrite the world as themselves

    like that'll work...

  10. #20

    Default

    Quote Originally Posted by Keys View Post
    BNZ offers interest on credit on your credit card.
    You sure they still do this Keys?

    They certainly used to in ' the olden days'; as it used to be handy when traveling overseas.
    One credit card for purchases, and one in credit for cash.
    Now there are other options.

    Thought BNZ stopped the credit interest a while back.


 

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