The ULTIMATE Credit Card Tier List | Best Credit Cards In Australia

[@DeltaSwiftGamingjarson]

Citibank Credit Cards are 100% underrated. The offer they had with the $600 cash back and half price annual fee was an absolute steal!

[@raymondla]

Yeah definitely have been slept on even by me for quite some time until I looked more into them.

[@robbyjai]

Raymond, I have an American Express Black card. Some clarifications. Joining fee is $7500, not $5000, secondly the criteria to get one is as follows, yes you need to hold a platinum card for 1-2 years. You must have excellent standing with that card, you must spend well over 200k AUD a year on that card, every single year.. before you even get invited for one, the card comes in a very very very fancy box. its pretty impressive. having said that is the card worth it...... not really... yes the centurion is fancy, the benefits like hotel elite memberships are great, unlimited lounge access are great, points redemption USE to be fantastic.... but not anymore they have gotten worst and worst, needs more points to redeem now...where it use to be 1 for 1. the only benefit of this card is pretty much a status symbol to wave around. thats all this card is good for.

[@dimsim9200]

Can I cancel my Citibank premier card after I’ve spent $2000 and received my $600 cash back to avoid paying annual fee?

[@raymondla]

Hey mate you should've already been charged the first year's annual fee upon sign up, but feel free to cancel before the 1st year anniversary to avoid paying the annual fee in the second year.

[@cashmerecaveman]

Say credit card again.

[@danielryan3879]

Fan of Nico then 😂

[@Errordemn6]

Can you make a video on velocity credit cards?

[@raymondla]

Hey mate I'll certainly include that as a future video;

[@Errordemn6]

@@raymondla awesome, thanks!

[@nbn_zali2464]

Hey Raymond, do you close a credit card straight after receiving the bonus points? Or do you also consider taking a retention offer as well? Keep up the great content!

[@raymondla]

Hey mate, I won't close it immediately. Depends on what other good offers are out on the market, but I'll always close it prior to before the annual fee hits for the next year. For cards that I churn I don't usually take up retention offers as they aren't as good as a new sign-up bonus. However I have taken up retention offers on my AMEX explorer since I keep that card on an ongoing basis.

[@jamesivory6414]

Hey Raymond, have you done a video on the coles no fee mastercard yet? Great card for no annual fee while it allows you to get flybuy points when using your card. Great beginners card to have paired with an amex essentials card.

[@harderbetterfastable]

I am looking for a international creditcard with 0 int fees and also collects points for Velocity as i am going to Europe during Christmas and looking for a tap and go. I got a Frequent High Flyer and like to combine together. You got any suggestions Raymond?

[@raymondla]

Unfortunately there aren't any credit cards that are will earn you frequent flier points whilst also having 0% international fees. You have to choose one or the other! And I would personally choose 0% international fees...

[@harderbetterfastable]

@raymondla alright! Fair enough mate. Which card would you suggest?

[@RichardVu1102]

Hi mate, love your video. I learn a lot from you. I just have a silly question about the credit card special offer. Aside from the spending criteria you have to meet to get the rewards, is it worth to pay the annual fee which vary from 200$ to 400$ or 500$ to get the frequent flyer points? I’m looking at the NAB Qantas Premium which offers 70k points and $150 fee for the first year, and we have to spend 2k$ in 2 months (I think it’s very reasonable) Thank you

[@raymondla]

Hey mate, in my opinion yes it is as you can redeem those frequent flier points for flights. For example I booked flights to Taiwan + Japan next year return with my Qantas points for around 80,000 points + taxes. The NAB card seems like a solid option, have a shop around tho there's usually cards that have a reduced $0 annual fee in the first year + points as well

[@3dmodels777]

Qantas titanium card is a rubbish?

[@raymondla]

I wouldn't say it's rubbish, it's definitely more of a niche card. If you're someone who travels frequently with Qantas then it can be valuable with the benefits that come along with it. But the annual fee is very high and hard to justify if you aren't taking advantage of all the benefits!

[@3dmodels777]

@@raymondla Thanks mate. I was just wondering why you didn’t pick this card up in your video. Coz it is too niche.

[@3dmodels777]

Can you make a video focusing on to maximize the benefit of using the high tier credit cards such as Amex platinum, Qantas titanium?

[@raymondla]

Hey mate, I’ve made a video on the AMEX Platinum here that you can check out - kzbin.info/www/bejne/b6fUe56Nhd-fo5Y

[@solzv0]

with the citibank prestige and needing to spend $10k could you buy a tv or somthing and return it and still have it count towards the $10K spend?

[@tremolony4924]

lmao

[@raymondla]

Hey mate, no I wouldn't advise doing this. Best bet is to just time the sign-up with large purchases you intent to make.

[@glyxx7027]

@@tremolony4924lol

[@Flyingsquirrel69420]

Does it affect your credit rating if you close a credit card? I heard it does in USA but not sure about here.

[@raymondla]

Hey mate, closing your credit card doesn't negatively impact your credit rating in Australia, in fact it improves it! I have a video coming out next week talking about Credit Scores.

[@sleepymate]

​@@raymondla I have seen it going up actually but what if you replace with another one? Should you wait for a while? And how long you should keep the credit card before closing? I normally close after 10-11 months and get another one after 3/4 months to replace it

[@Kevin-mp2wu]

Great video, could you make a video about a churn roadmap?

[@raymondla]

Thanks Kevin, I might make a video dedicated to credit card churning in the future :)

[@dentonnguyen8657]

I dont understand why a student would get a student credit card - does it give you any long term benefits to start getting a credit card early in Australia? Or should you wait until you have a stable source of income to jump to a beginner card for the benefits?

[@raymondla]

You can definitely just jump straight to one of the beginner credit cards, that’s what I did when I first started out!

[@merc7paul]

Interesting to see this as a Canadian, we complained when our annual fee on the Amex plat went from 600-700 but it's 1450 in Australia that's insane! I just got the platinum business for $500 cad that's 360 usd before it went up in October that has to be the lowest price for the platinum card globally.

[@Rachaelshaw7]

Please do a video where you rank cashback cards I don't use travel and I really want to know

[@raymondla]

Hey mate - this video I did recently includes a lot of cashback cards - kzbin.info/www/bejne/m3i8ZJZjmbp7pMk

[@daboss44341]

Hey Ray, I’ve had the commbank ultimate awards credit card, and have loved the features including travel insurance and award points. However, now they have raised the payments to 4,500 per month to avoid the monthly fee. I like the idea of award points but with no annual fee as I earn about 60k per year and save a lot of my income (no mortgage). I never fail with repayments do you have any good recommendations ? I did like the Amex awards card without the annual fee. That being said i do miss the travel insurance and no foriegn transaction fees. I’m also worried about the amex surcharges. Are the annual fees worth it if i spend under 2k per month ? And what card would you recommend that provides interest free for over 30 days and award points (ideally travel insurance and also no foreign transaction fee)

[@michaelstk2817]

Dangerous video!

[@simcheney3151]

Hello Do you think its a good idea to get a credit card? Are they really worth it?

[@raymondla]

Absolutely mate, plenty of benefits from credit cards i.e. cashback, free travel etc. check out this video that talks through some benefits if you're interested! kzbin.info/www/bejne/m5S1iGhpjruNo8U

[@manuthapa3315]

, got nab qantas signature.. let’s see how I can make points out of it .. cheers mate

[@eldalyeffendi6171]

are you still happy with the NAB product over ANZ for instance ?

[@hugoandreslopezsantander1714]

How can i get a credit card as an international student in australia? Wich is the best way to get one..

[@raymondla]

Hey mate some credit cards will allow people with visas to apply for a card as long as you have more than 12 months left on it. Not sure how much income you are earning, but check out some of the cards in the beginner / baby tier that I mentioned in this video.

[@DanielSmith-ys3ov]

Hey mate. With the ANZ black card, can you churn that after spending 3000 for the 180k points or does it have to be held for a year? Thanks in advance

[@raymondla]

Hey mate, once you've received the bonus points you can close the credit card and churn another one. I did a whole video on credit card churning here that you can check out - kzbin.info/www/bejne/m5S1iGhpjruNo8U

[@shane80002007]

Can you do a video of how to redeem Citibank 4th night free please?

[@raymondla]

Might do a whole video talking about citibank credit cards in the future!

[@clairezhang16]

Hey Raymond, thanks for the amazing videos!! Just got rejected from Citi, guess it was because I'm not a permanent resident, pretty sure I met other criteria lol

[@raymondla]

Hey Claire that's unfortunate! Some banks won't allow people with visa's to get approved for credit cards unfortunately, make sure you read through their T&C's!

[@anaislaginha4823]

Hey Raymond! Thanks for this GREAT video! I am looking at getting a credit card for my partner and I for an upcoming 3 month holiday. Are there any cards you would recommend that I consider? I am looking at the CommBank Ultimate Awards (is this a good option?) I want a card that has $0-low international transaction fees and I also want to build frequent flyer points. Thanks in advance!

[@raymondla]

Hey mate glad you enjoyed the video. I'm not a huge fan of the CommBank Ultimate card, because you need to spend $2.5K each month in order to avoid the monthly fee, but it is a good all-in-one card that will allow you to earn points whilst also not paying any international transaction fees. My personal preference is to just have multiple credit cards for different purposes - check out this video here for some more info - kzbin.info/www/bejne/hHzJoKyaZb93lck

[@akashgjoshi]

No Macquarie credit cards?

[@raymondla]

Hey Akash, I just haven't found Macquarie credit cards to be that attractive frankly, no sign-up bonuses and their rewards program lacks in comparison to AMEX or Citi Bank.

[@theresha.c]

This was such a great video! thanks Raymond!!😃

[@raymondla]

Glad you enjoyed it

[@maxdudomite]

Hey Raymond, why don’t you talk about any of the commbank credit card? Are they really that bad?

[@DeltaSwiftGamingjarson]

Compared to other credit cards on the market, Commbank really don’t offer a lot of benefits in my opinion. The only good one with Commbank is the “Ultimate Rewards” but requires constant use of that one particular card as you need to spend 2.5k each month to waive the credit card fee. It works if it’s your one n only credit card. But if you’re juggling multiple it just doesn’t make sense to carry one tbh

[@raymondla]

Hey mate, I've definitely looked into Ultimate Rewards card offered by Commbank. But as Jason has highlighted already I don't like the fact that you need to spend $2.5K per month in order to not pay the monthly fee. If you could easily spend that each month and wanted a one and done card that earns you frequent flyer points + no international transaction fees than it actually isn't a bad option.

[@sleepymate]

​@@raymondla I applied this for my wife. I pay my rent with it which is what makes it a decent option. Only thing after applying this my wife's credit rating decreased by 36 points which is a lot. Rating is still very good so I am not too bothered. It's been 4 months but the ratings haven't come back yet

[@raymondla]

@@sleepymate All new credit card applications result in our credit scores decreasing by roughly 36 points, as the credit provider will do a hard enquiry on our reports. Just give it some more time and the rating should improve over time.

[@Ash3n]

my GUY YOU ARE NOT AFRO AMERICAN

[@kong11232]

G'day Raymond! Apologies if you mentioned this in another video... For best practice; if I want to credit card churn, how long in between drinks should I apply for a new one after I closed an existing one?

[@raymondla]

Hey Curt, I'd say this depends on your credit score. If it is in good shape 3-4 months should be fine, otherwise perhaps 5-6 months. For reference I churn around 3 cards a year

[@kong11232]

@@raymondla Ray for Australian of the year!

[@shivarajan5866]

Hi Raymond, Great contents by education people with your financial knowledge. I was wondering why no one talks about the HSBC Credit cards? And I can’t see you mentioning in any of your videos. What’s your view on the HSBC Credit cards and their rewards? (Specifically; HSBC Premier world Mastercard)? Thank you! Shiva.

[@raymondla]

Hey Shiva, I am a fan of the HSBC Platinum Credit Card for its sign-up bonus and $0 annual fee. HSBC Premier World Mastercard isn't that great because it's hard to actually obtain. You need to be a HSBC premier member and make monthly account deposits of at least $9,000, or maintain a savings balance of at least $150,000 which honestly just isn't worth the hassle in my opinion. Far better options out there with significantly less hurdles & hoops

[@Theharrizable]

lol AMEX, im sure the 4 companies out there that accept it will make owing it worth it.

[@raymondla]

This sentiment around no companies accepting AMEX is out dated, it's pretty widely accepted these days and if it isn't then that's why you have another credit card in your wallet.

[@robbyjai]

this is nonsense. i have an amex black card and its accepted every where in australia and world wide. ive never had a vendor say to me sorry we dont accept amex