04.Shopping voucher rewards
How do the new store cards measure up?
In the second half of 2008, David Jones American Express and Woolworths Everyday Money MasterCard entered the fray, giving the Myer Visa card competition. These three major retailers’ cards offer loyalty points that can be converted into gift cards to use in-store – a limiting factor compared with other reward programs that offer the choice of shopping vouchers for a large number of stores.
This aside, the Myer Visa and David Jones American Express cards scored well compared with other cards offering shopping vouchers. If you spend between $1000 and $2000 per month, Myer Visa gives you the best value of all shopping voucher cards, but does not rate well for higher spending levels as points earned outside the store are capped at 2000 per month. David Jones American Express is a Best Buy for $2000 to $5000 spending levels.
While the Woolworths MasterCard is not a Best Buy, it’s the most flexible of the three as its vouchers can be used at the supermarket and some Woolworths-owned shops (such as Dan Murphy’s and Tandy). Our analysis looked at points earned outside the stores, but all three cards give you more points when you shop with them.