How to cut costs on essentials
Ditch the reliance on the credit card and cut down on costs with these tips. It pays to ditch the big-name brands at the supermarket.
Bonus PointsReceive 7,500 Qantas Points when you apply online, are approved and spend $750 outside David Jones within the first three months of becoming a Card Member.
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
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3% on Amex
Estimated ATM Cost
Qantas Frequent Flyer
Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels
457 Visa holder
|1.5 points for $1 spent||AMEX||uncapped||major supermarkets and petrol stations|
|1 point for $1 spent||AMEX||uncapped||David Jones|
|0.5 points for $1 spent||AMEX||uncapped||all other eligible purchases|
No annual fee for the first year for new Supplementary Card holders
Balance Transfer and Cash Advance not available
American Express, commonly known as AMEX, is a multinational financial services corporation headquartered in New York.
AMEX is the world’s largest credit card issuer by purchase volume. Alongside AMEX credit cards, the company provides personal financial products such as travellers’ cheques, as well as business and corporate financial services.
American Express has a corporate office in Sydney and various currency exchanges around Australia, but no dedicated customer service branches. ATM access is available through AMEX’s network of partner ATMs.
The American Express David Jones Card is one of many AMEX cards that comes with rewards and benefits. Cardholders can earn Qantas Frequent Flyer points on all eligible transactions, with more points earned per dollar when shopping at David Jones and major supermarkets and petrol stations.
Cardholders can also enjoy a number of complimentary services, including gift wrapping, home delivery and flexible payment options. Several additional services are also included, such as purchase protection insurance, online fraud protection guarantee and emergency card replacement.
Like many rewards cards, these perks and benefits do come at a cost. The American Express David Jones Card has a high interest rate on purchases, and does not offer balance transfers or cash advances. Consumers who choose this card can also expect to pay a moderate annual fee, with a moderately low number of interest free days.
The American Express David Jones Card provides a number of perks and benefits. Its main draw is the generous amount of rewards points earned per dollar when shopping at David Jones, as well as at major petrol stations and supermarkets, including Coles and Woolworths. This makes this credit card suitable for not only regular David Jones customers, but also anyone who shops at major supermarkets. The ability to convert these points into Qantas Frequent Flyer points also makes this card suitable for current members of this program.
This credit card also comes with deferred payment options for men and women’s apparel purchased at David Jones, as well as a similar deferred payment option for purchases made at David Jones during the Christmas period. Consumers who already make a moderate amount of retail purchases could take advantage of this, provided that they can realistically pay off the balance within three months.
The American Express David Jones Card has no shortage of perks and benefits. As the name implies, this card is both targeted at and suitable for regular David Jones customers, as well as those who make a moderate to high amount of retail transactions regularly.
However, some of this card’s perks could present a problem. The deferred payment options for David Jones purchases essentially provides three months’ interest-free on these transactions, after which they will convert to the card’s high interest rate. Cardholders should make sure to keep a close eye on the end date of these promotions to avoid paying high interest.
The card’s high interest rate and rewards system for big spenders could lead to interest adding up quickly. But for savvy credit card users who stay on top of their credit card payments, this credit card could provide value for its moderate annual fee.
To apply for the American Express David Jones Card, you must be at least 18 years old and have a good credit history with no payment defaults. You must also meet a minimum income requirement to be eligible. Australian citizens or permanent residents, as well as those with business long stay visas, are eligible to apply. The online application should take about 10 minutes, and you can expect a response from AMEX within five to 10 working days.
American Express, also known as AMEX, was founded in 1850 and is most commonly known as a major international credit card provider. Headquartered in New York City, it also has businesses in traveller’s cheques, financial advice, travel, publishing and personal banking. Today, American Express employs more than 56,000 people worldwide, and has an Australian office in Sydney. Worldwide, AMEX has over 100 million cards issued, almost half of which are in the United States.
Nick Bendel was a property and personal finance editor, covering property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you’ve recently used your credit card to pay for something over the phone or online, you would have been asked to provide a CVV number. CVV stands for ‘card verification value’, and is also sometimes referred to as a CVC or card verification code.
A CVV code is usually needed when the card is used online or over the phone as an anti-fraud measure. Without the cardholder being physically present to sign or verify the purchase, the CVV provides an extra layer of protection.
If you’re using Mastercard or Visa, the CVV is usually three digits and is located on the back of the card. If you’re using an American Express, the CVV is usually four digits and is on the front of the card.
Credit cards offering rewards can be great if you know you’ll use the card enough to get significant rewards points, and use the rewards you earn.
They can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Also, think about the types of benefits you’d like. There’s no point in getting a card with rewards for retailers you never visit, or travel you don’t have time to use.
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers: Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.
Looking to get your first credit card? You might be confused as to exactly where to go to apply for one. Here’s where to go when you are ready to put in that application.
The bank: Your bank is a great place to start, provided that you have a good banking history. Since you already have a financial history, you have more chance of your application being approved.
Credit card provider: Another option is to apply for a credit card directly from the issuer, such as Visa, Mastercard or Amex. This will most likely be an online application, so do your research and apply for a suitable card for your circumstances.
Major retailers: Coles, Woolworths, Myer and David Jones all have credit cards available. But watch out for the interest rate and annual fees – these cards are designed to help you spend more in store.