Bank fuel rewards programmes compared

[Grubscrew]

Maximize rewards means you win. Not the "big corporations"

If you can, then yes, but for 99% of the rewards users out there, probably not.

 

[Crowley]

I pay my business banking account with ebucks and then I still have 4k+ worth of ebucks left. With that I buy electricity for two other struggling households.

 

[Napalm2880]

Maximize rewards means you win. Not the "big corporations"

Uh, no. The banks and card processors are making absolutely staggering amounts from merchant fees. This is how they fund the rewards program.

Think somewhere between 2 - 5% per transaction

 

[Tman*]

Uh, no. The banks and card processors are making absolutely staggering amounts from merchant fees. This is how they fund the rewards program.

Think somewhere between 2 - 5% per transaction

Who pays to swipe? The buyer or the seller?

 

[Tman*]

Uh, no. The banks and card processors are making absolutely staggering amounts from merchant fees. This is how they fund the rewards program.

Think somewhere between 2 - 5% per transaction

Who pays to swipe? The buyer or the seller?

 

[Napalm2880]

Who pays to swipe? The buyer or the seller?

Both. You pay for your credit card and the merchant pays fees to their bank for every transaction.

 

[backstreetboy]

And there’s the poverty flex. Was wondering how long it would take.

It's better than flexing over a new logo.

 

[SeaSickMama]

Who pays to swipe? The buyer or the seller?

VISA etc do it via the rewards at around 1.5-3% cut

Somewhere there is a breakdown of how its calculated but not the buyer

 

[3WA]

Both. You pay for your credit card and the merchant pays fees to their bank for every transaction.

True, but every customer is ultimately funding the transaction fees, since you pay the same price whether you use cash or card.

So you may as well be one of the few who gets credit card rewards back for it.

 

[Tman*]

Both. You pay for your credit card and the merchant pays fees to their bank for every transaction.

The consumer fee can be avoided literally tenfold over every month if you maximise your rewards. I did this for years, consistency. This includes ALL bank cost.

 

[system32]

However, FNB has added a further potential R2.00 per litre for all these customers until at least December 2022.

That requires them to use a virtual card (NFC) for their fuel purchase and at least one online purchase during the month.

Thanks for the tip.

 

[willisau]

Why not compare the Shell V-power card as well?

 

[noxibox]

I think you can get more from Discovery if you jump through some additional hoops.

 

[noxibox]

The top tiers are like the people who get their money back when investing in ponzi scheme. The banks need them to dupe the bottom 99.8% with these faux rewards.

Not saying the rewards are ponzi scheme.

Well they are in a way, whether it's these bank rewards programmes or Discovery's Vitality, they only exist so long as they bring in more money than the company pays out. Discovery likes to claim Vitality is all about our health, but if more people met the targets they'd increase the monthly fee or reduce the rewards or make the targets more difficult. Probably all three.

 

[Wayne007#]

I’m averaging R

Except the +R200/m cc fee.

I’m averaging R8k per month ebucks and only paying R580 in fees.

Not a bad deal

Except the +R200/m cc fee.

 

[backstreetboy]

I’m averaging R

I’m averaging R8k per month ebucks and only paying R580 in fees.

Not a bad deal

What is your monthly spend?