BNZ is offering double points on their Advantage Visa Platinum for 6 months. That means for every $75 you spend, you will get back $2. This works out at a return of 2.6%.
You need to work it out based on your spend but you basically have 2 choices. Sign up and
- stay on for 6 months (pay $72.50 fee, double points for 6 months)
- stay on for 12 months (pay $145 fee, double points for 6 months, get $150 cash bonus on $12000 spend)
Now the tricky part of the above is if they charge the fee at the same time as they give the bonuses. Seemingly, if you want to collect the $150 bonus, you'll probably be charged for the next 6 months.
But the real winner is the cash back for 6 months. $2 back for every $75 spend equates to 2.6%. No messing around with Flybuys or Airpoints, just cash back credited to your account. The only caveat is that points are only accrued for online purchases, supermarket purchases and overseas transactions.
So let's say you spend $1000 a month on online & supermarket transactions. That nets you around $26 as a bonus. Over 12 months that is about $312.
Additionally you get:
- 90 Day Platinum International Leisure Travel Insurance
- Extended Warranty (Probably not useful if you don't keep the card)
- Purchase Insurance (if you lose, get stolen or damage your item within 90 days)
- Price Guard (If something you bought goes down in price, BNZ will refund you the difference. min $150)
Anyone looking to sign up for that $150 bonus should make sure they understand those terms. Though you have stated it already, it's worth stressing that it is applied after 12 months. Most other promos with platinum cards are much lower spends over much shorter time periods.