Wizard Credit Card still overseas fee free?

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I just placed a call to GE Money, and was told that despite the information being removed from the website, there still are no charges for using ATMs and purchases, excluding ATM direct charges worldwide.
 
Here's a link to the current charges:

Wizard Clear Advantage Mastercard

Charges

Below is a summary of your charges. For a more detailed explanation, please refer to your Contract Documents.

Overview – Wizard Clear Advantage MasterCard

Standard Annual Percentage Rate
The interest you pay on purchases and cash advances.

  • 18.49% p.a.
Interest Free Days
The number of days no interest will be charged for the Wizard Clear Advantage MasterCard purchases you make.

  • Up to 55 days
Cheque Dishonour Charge
This is applied if a cheque payment is rejected by the paying bank.

  • $10
Direct Debit Dishonour Charge
This is applied if a direct debit is rejected by the paying bank.

  • $2.50
Australia Post Payments Charge
The cost incurred from making your payment at Australia Post.

  • $1.50<
Late Charge
This applies if you do not make whole of the minimum payment by the due date shown on your statement.

  • $35
Over-limit Charge
This is incurred when a purchase takes your balance over your credit limit.


  • $35
Statement Reprint Charge
This is charged if you request a copy of your statement (the charge is waived if you did not receive your original statement).

  • $7
Voucher Retrieval Charge
If you wish to dispute a purchase, you can request a copy of the purchase receipt. No charge will be applicable if you did not approve the purchase.

  • $7
Trace Charge
If you move, you need to let us know your new address. If your monthly payment is late and we have to trace where you've moved, you'll be charged a Trace Charge.

  • $30
 
Under AFSR, if there are any changes to the terms and conditions of the credit card product and it is detrimental to the customer, they are required to notify them.

The usual way will be via the monthly statement, for any big changes they would have to issue a PDS / SPDS.

They can't just change (put up) the fees and not notify customers.
 
Under AFSR, if there are any changes to the terms and conditions of the credit card product and it is detrimental to the customer, they are required to notify them.

The usual way will be via the monthly statement, for any big changes they would have to issue a PDS / SPDS.

They can't just change (put up) the fees and not notify customers.

True, and often what is stated on a website refers to new customers. Existing customers can be, and often are, on different terms, fees etc.
 
However..... I have noticed of late that I am not getting the same great rate as I used to.

Wizard used to give me almost the same rate as the xe currency converter, now the rates seem to be about 2-3% down on the xe rate.

Is this new?

Still much better than Earth - which went from being a great card to something very ordinary :(

cheers

mel-t
 
It used to be advertised as one of the biggest features of the card, but now it does not appear on the website. I am puzzled by this as I have been thinking about applying for one of these cards. Why take this bit of marketing off?
 
Leny

I would still go for the wizard card - at least for me as an existing cardholder I am getting the best rates around. i hope this hasn't changed yet for new applicants.

cheers

mel-t
 
Wizard used to give me almost the same rate as the xe currency converter, now the rates seem to be about 2-3% down on the xe rate.

Is this new?

I'd noticed the same thing recently as well, basically the last month or so. I wasn't sure if it was just the volatility of the Aussie Dollar causing it (which has been bouncing around in a 2-3% range most days recently), or if they'd removed the 0% exchange fee (though it's not on the list of fees, whilst for other GE cards they do list an exchange fee).
 
The AUD has been fluctuating a lot recently, sometimes with more than 2-3% intra day high and lows movements....

Check the transaction date, and check the rates on yahoo finance or whatever, as for what was the intra day high and low for a specific date I have no idea how to get it for free....

Sometimes it is OK for mastercard to charge the intra day high / low so they will get maximum profit, and it will be out of GE Money (Wizard)'s control.

Next week I will be in Kiwi land and will see...
 
I have had 8 o/s transaction in the last month on my Wizard, using Xe.com/ccc if found the lastest variance was 1.6%, the smallest 0.3%. This was from NZ, Thailand, HongKong and Japan.

The average was 0.9% - so maybe Wizard are out looking for better (for them) rates.

While things change, this is certainly better than the ~2.75% rate Amex rake during the same period.
 
So the fact that this info has been removed from the website doesn't worry anyone else? :confused:
 
So the fact that this info has been removed from the website doesn't worry anyone else? :confused:

Not sure what info you are referring to.

There is still no fee as such.

The only issue is according to some, the exchange rate does not work out quite as good as before.
 
My issue is that they have removed any trace of overseas fee free transactions, which is one of the biggest selling points of this GE Money product (just like MYER card has points, Coles has FlyBuys, GO has catalogue rewards).

They do not list the fees on the list, but it used to be promoted as a big feature.

Why remove it...
 
It's not really - it just makes me wonder why they would remove information regarding a big selling point of this card. I remember it used to say, among the features of the card, that there were no fees on overseas transactions. Leaving this information up was not hurting anyone, and not having it up will not lure more customers for them.

Do you see what I'm saying?

They could be planning on charging overseas fees in the future (at least to new customers.)


A potential customer would most likely not figure out that there were none such fees on the card unless they had prior knowledge of it. When they look at the fees, I don't think they will look for particular charges that are missing (because they do not exist.)
 
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WHat I meant was the answer is self evident. Of course the Wizard will change - it's not if, but when!
 
However..... I have noticed of late that I am not getting the same great rate as I used to.

Wizard used to give me almost the same rate as the xe currency converter, now the rates seem to be about 2-3% down on the xe rate.

Is this new?

Still much better than Earth - which went from being a great card to something very ordinary :(

cheers

mel-t

I agree. I made a purchase the other day and it came through at 75 cents when the actual exchange was 78.5. They used to be much closer to the actual. :(
 
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