Postcards from Perkistan

Ok so I’ve written already about my foray into the DJ’s Amex card. I now own one and am a big fan of their simple program. 

I have to however now tell you just how much punch their perks possess. I was just comparing DJ’s perks against my other credit card - National Australia Bank’s Gold Rewards Visa and the perk value could not be more marked:

NAB has a $100 David Jones Voucher so the comparison is straight down the line. 

NAB:
Points needed for voucher: 15,000
$1 = 1 NAB point
Therefore need to spend $15,000 to earn the voucher

DJ’s AMEX 
Points needed for voucher: 13,300
1st 6 months: $1 = 3 DJs points
After 6 months: $1 = 1.5 DJs points
Therefore need to spend *$4,433* to earn the voucher or $3,325 if you spend it in an actual DJs store in the first 6 months. After 6 months you need to spend $8,866 or $6,650 respectively.

That analysis highlights what commonly is called a no-brainer. Even under normal perk earning conditions it takes half the spend to earn a $100 voucher! in the first 6 months its up to 5 times as quick. Now you may say that if you add in interest rate differentials and differences in interest free periods it changes but not in this case…rates are line ball and the Amex has up to 56 days interest free…NAB can only muster 44. To top it off annual fees are the same.

Did I mention that I have received $150 in vouchers for just signing up?

Nice work DJ’s…easily the perk program of the month.