Card Review Request
« Back to question board
Hi,
I have recently trawled through the myriad of card offering and have settled on the SGE Credit Union Gold Solution VISA.
I would like request to review this particular card as well.
My goals for a credit card was:
- cash back reward (or similar)
- interest free days (so i can pay off each month)
- I would purchase $4000 a month on the card.
The annual fee is a bit high at $100 per annum. however it is the only card i could find which offered 1% cash back. (i was previously with BP Master card)
The thing which make it not a traditional cash back card is that your reward points go onto a separate card which can be used at any EFTPOS equipped business. I have yet to try taking cash out from this card so i may yet be able to do so.
While it was the best for my circumstances giving an expected return of 0.78% it probably is not good for all people.
Oh and there was a few gotchas i did not realise until i had applied:
1. It is necessary to have a $2 share in SGE credit union (and thus a account with them... no annual fees tho.)
2. No BPay payment option to pay card, instead payment is by cheque or normal inter bank money transfer into the credit card account.
1. It is necessary to have a $2 share in SGE credit union (and thus a account with them... no annual fees tho.)
2. No BPay payment option to pay card, instead payment is by cheque or normal inter bank money transfer into the credit card account.
Hi Nicholas,
Thanks for your question.
I've posted the review, which I hope will answer some of your questions.
It does unfortunately seem like you cannot get cash-out from the rewards EFTPOS card.
I hope this helps.
Thanks for your question.
I've posted the review, which I hope will answer some of your questions.
It does unfortunately seem like you cannot get cash-out from the rewards EFTPOS card.
I hope this helps.
Thanks for the review.
I had performed quite a major search when settling on the SGE card. My ideal card would give me the most return in cash back onto the credit card per dollar spent. I was quite satisfied with the BP master card however when they changed from 1% down to 0.5% cash back i went looking again.
Here is a dump of the spread sheet i created when researching: the return column is what i was interested in and is the total "profit" (cash back - annual fee) over the amount spent (in my case $48000)
If you want to review some other cards then these may be of interest.
48000,Name,Bonus Points,points per $,Max point allowed,points per year,redeem points,redeem $,points per $,cash back per year,Annual Fee,extra Card,Total per annum,Return,Notes*
BankWest,More,5000,1.5,150000,72000,15000,50,300,256.6666667,89,0,167.6666667,0.35%,*
,Platnium,15000,2,400000,96000,15000,50,300,370,190,0,180,0.38%,*
Westpac,Altitude,0,1,,48000,10000,50,200,240,100,0,140,0.29%,*
CPS,silver,0,1,,48000,10000,50,200,240,45,30,165,0.34%,*
Bank of Queensland,Visa,0,1.5,65000,72000,"13,750",50,275,261.8181818,55,0,206.8181818,0.43%,*
Citibank,silver,0,1,,48000,10000,50,200,240,69,30,141,0.29%,*
,citibusiness,0,1.25,,60000,10000,50,200,300,119,30,151,0.31%,*
,BP,,,,,,,,321,79,30,212,0.44%,*
Suncorp,plus,0,1,,48000,"9,100",50,182,263.7362637,55,35,173.7362637,0.36%,*
ANZ,balance,,1,,48000,13750,100,137.5,349.0909091,79,22,248.0909091,0.52%,*
,reward,,0.666666667,33333.33333,32000,13750,100,137.5,232.7272727,48,22,162.7272727,0.34%,*
IMB,mastercard,,1,,48000,10000,50,200,240,55,19.2,165.8,0.35%,*
Woolworths,,,1.1,,52800,"3,448",20,172.4,306.2645012,49,0,257.2645012,0.54%,Only redeeable at woolies*
BCU,visa rewarder,,1,60000,48000,150,1,150,320,59,0,261,0.54%,separate card*
SGE,visa gold,,1,,48000,100,1,100,480,100,0,380,0.79%,separate card*
coasline,denim rewarder,,1,,48000,150,1,150,320,0,0,320,0.67%,separate card*
Queensload Police Credit union,Bluey Rewarder,,1,,48000,150,1,150,320,0,0,320,0.67%,separate card*
GE money,eco card,,1,,48000,2,0.01,200,240,49,0,191,0.40%,*
Horizon Credit unit,visa credit card,,1,,48000,,1,250,192,0,0,192,0.40%,*
Note that the * indicates end of line so you may need to do a search replace for * and substitue a CR/LF in order to import into excel.
Cheers
Nick
I had performed quite a major search when settling on the SGE card. My ideal card would give me the most return in cash back onto the credit card per dollar spent. I was quite satisfied with the BP master card however when they changed from 1% down to 0.5% cash back i went looking again.
Here is a dump of the spread sheet i created when researching: the return column is what i was interested in and is the total "profit" (cash back - annual fee) over the amount spent (in my case $48000)
If you want to review some other cards then these may be of interest.
48000,Name,Bonus Points,points per $,Max point allowed,points per year,redeem points,redeem $,points per $,cash back per year,Annual Fee,extra Card,Total per annum,Return,Notes*
BankWest,More,5000,1.5,150000,72000,15000,50,300,256.6666667,89,0,167.6666667,0.35%,*
,Platnium,15000,2,400000,96000,15000,50,300,370,190,0,180,0.38%,*
Westpac,Altitude,0,1,,48000,10000,50,200,240,100,0,140,0.29%,*
CPS,silver,0,1,,48000,10000,50,200,240,45,30,165,0.34%,*
Bank of Queensland,Visa,0,1.5,65000,72000,"13,750",50,275,261.8181818,55,0,206.8181818,0.43%,*
Citibank,silver,0,1,,48000,10000,50,200,240,69,30,141,0.29%,*
,citibusiness,0,1.25,,60000,10000,50,200,300,119,30,151,0.31%,*
,BP,,,,,,,,321,79,30,212,0.44%,*
Suncorp,plus,0,1,,48000,"9,100",50,182,263.7362637,55,35,173.7362637,0.36%,*
ANZ,balance,,1,,48000,13750,100,137.5,349.0909091,79,22,248.0909091,0.52%,*
,reward,,0.666666667,33333.33333,32000,13750,100,137.5,232.7272727,48,22,162.7272727,0.34%,*
IMB,mastercard,,1,,48000,10000,50,200,240,55,19.2,165.8,0.35%,*
Woolworths,,,1.1,,52800,"3,448",20,172.4,306.2645012,49,0,257.2645012,0.54%,Only redeeable at woolies*
BCU,visa rewarder,,1,60000,48000,150,1,150,320,59,0,261,0.54%,separate card*
SGE,visa gold,,1,,48000,100,1,100,480,100,0,380,0.79%,separate card*
coasline,denim rewarder,,1,,48000,150,1,150,320,0,0,320,0.67%,separate card*
Queensload Police Credit union,Bluey Rewarder,,1,,48000,150,1,150,320,0,0,320,0.67%,separate card*
GE money,eco card,,1,,48000,2,0.01,200,240,49,0,191,0.40%,*
Horizon Credit unit,visa credit card,,1,,48000,,1,250,192,0,0,192,0.40%,*
Note that the * indicates end of line so you may need to do a search replace for * and substitue a CR/LF in order to import into excel.
Cheers
Nick
Cheers for the info Nick,
I think the American Express Platinum Moneyback offers 1% cashback. You might consider checking it out.
Regards.
I think the American Express Platinum Moneyback offers 1% cashback. You might consider checking it out.
Regards.
no problems :)
I did consider the American Express card, however with most of my bigger purchases (i.e. bills etc) charging 2% or more for Amex processing it meant that the SGE credit card gives me better value... but at a cost of slight inconvenience. But if they decide to lower the cash back rate like BP did the American express card will be a likely contender!
I did consider the American Express card, however with most of my bigger purchases (i.e. bills etc) charging 2% or more for Amex processing it meant that the SGE credit card gives me better value... but at a cost of slight inconvenience. But if they decide to lower the cash back rate like BP did the American express card will be a likely contender!
Your response:
Posting rules
Please observe the following rules when posting a response:
- This question board is intended for discussing credit cards, financial institutions, banking and broader financial topics. Please keep posts within the scope of these categories.
- It is forbidden to post any pornographic or offensive text.
- Defamatory, abusive or offensive text (e.g. flaming) will not be tolerated.
- Please respect the copyright of other sites, media etc. Do no reproduce protected material without permission.
- The board moderators reserve the right to remove or edit any post at any time. The determination of which posts may be edited or removed is entirely at the discretion of the moderators.
