All my spend will be in overseas transactions around 5-10k per month, my company will reimburse for the actual cost but not the fees, do you think it's still worth it for me to pursue a rewards / miles card or would the 3% fees outweigh the benefits?
I would consider the gain marginal unless you're earning several points per dollar and place a high value on points... You'd be earning 5-10k points at a cost of $150-300 if you earn 1 point per dollar and have a 3% foreign currency fee. If you have a card with no foreign transaction fee that also earns points, eg ANZ Travel Adventures or Coles Platinum Rewards then I'd consider it worthwhile.
What if i paid for each transaction on these cards with no overseas fees and then i balance transferred this card with a 'better' points card that offers the bigger sign up bonuses, or this balance transfer would be accepted?
Be careful if this is a personal card. Ive heard of banks having t's & c's saying that they can take back points if they feel that your transactions are not personal in nature and are commercial / business transactions. Im not sure why they care but they do it.
As others say try and find a card without transaction fees.
There are some corporate cards out there that are able to earn points. Perhaps you might have to pay for the rewards fee yourself but there is less risk of points being taken back.
Sdtravel: I think it's a liability thing - with a business credit card, a business is responsible for those charges (unless it's a personal liability card, of course), whereas with a regular personal credit card, a person is responsible - and there's the risk that purchases made on behalf of a business may not be reimbursed or that the business enters into administration etc. and doesn't reimburse the cardholder, leaving them with a hefty bill that they may not be able to afford to repay, which could cost the bank big $$ or see the cardholder trying to dispute those charges even though the charges were technically valid.
HeinzHummer
HeinzHummer
Member since 06 Jun 2017
Total posts 2
All my spend will be in overseas transactions around 5-10k per month, my company will reimburse for the actual cost but not the fees, do you think it's still worth it for me to pursue a rewards / miles card or would the 3% fees outweigh the benefits?
jhor
jhor
Member since 18 Nov 2013
Total posts 61
I would consider the gain marginal unless you're earning several points per dollar and place a high value on points... You'd be earning 5-10k points at a cost of $150-300 if you earn 1 point per dollar and have a 3% foreign currency fee. If you have a card with no foreign transaction fee that also earns points, eg ANZ Travel Adventures or Coles Platinum Rewards then I'd consider it worthwhile.
Greg84
Greg84
Member since 03 Nov 2014
Total posts 130
CBA Diamond Amex is about to do away with Intl transactions fees & you still get the points...
HeinzHummer
HeinzHummer
Member since 06 Jun 2017
Total posts 2
What if i paid for each transaction on these cards with no overseas fees and then i balance transferred this card with a 'better' points card that offers the bigger sign up bonuses, or this balance transfer would be accepted?
sdtravel
sdtravel
Qantas - Qantas Frequent Flyer
Member since 18 Jun 2015
Total posts 79
Be careful if this is a personal card. Ive heard of banks having t's & c's saying that they can take back points if they feel that your transactions are not personal in nature and are commercial / business transactions. Im not sure why they care but they do it.
Chris C.
Chris C.
Member since 24 Apr 2012
Total posts 1,116
Sdtravel: I think it's a liability thing - with a business credit card, a business is responsible for those charges (unless it's a personal liability card, of course), whereas with a regular personal credit card, a person is responsible - and there's the risk that purchases made on behalf of a business may not be reimbursed or that the business enters into administration etc. and doesn't reimburse the cardholder, leaving them with a hefty bill that they may not be able to afford to repay, which could cost the bank big $$ or see the cardholder trying to dispute those charges even though the charges were technically valid.
pkjames
pkjames
Qantas - Qantas Frequent Flyer
Member since 21 Jan 2017
Total posts 44
there are a few cards with no forex fee but get rewards points: