coles myer source mastercard

[abcde]

whats happening with the 8 cents off your petrol thing their going to do..?
not much info on their website.. and its not advertised anywhere else..

 

[Mal]

<post deleted>

 

[Mal]

Had a look this morning on the website and there seems to be plenty of information about it.

Including this snippet " Offer effective from July 2005. Mailing of Fuel Saver Vouchers commences August 2005"

 

[abcde]

it says on the site theres " no annual fee"
and no other fine print about it..
the old brochure it says no annual fee for 6 months.. and then $49 after that, for the standard mastercard...
is this one the same or its non annual fees forever?

 

[oz_mark]

I think there were two different annual fee scales - free and $49 per year, which affected how many fly buy points you got.

 

[abcde]

ive just found out
the one their offering now... with the 8 cents off petrol....
you dont get charged for annual fees at all..
but... you only get reward points (fly buys points)
only if you shop at their coles myer stores.....
other purchases..(paying bills etc..) ..you dont get points for that......
not too good

 

[Mal]

One important change for anyone who has a Gold card is that the insurance is being reduced with the changes.

Read the information sent to you by GE Capital carefully...

 

[oz_mark]

I think there were two different annual fee scales - free and $49 per year, which affected how many fly buy points you got.

I just 'downgraded' to the free one. Worked out how many flybuy points the 'faster' option was getting me against the annual fee, and I wasn't getting $49 worth of flybuy points.

Mind you I mostly have the card for the interest free offers, so most purchases are on different cards, so not a huge expenditure goes through it. Much better no annual fee.

 

[dgruber]

I was told by their customer service:

a. You can apply for the Coles Myer Source Gold Mastercard. No annual fee applies but depends on credit assessment.
b. If you get offered a low limit you can send them your statements of other cards and this will get reviewed.
c. It is better to go in to a Myer store than to apply online.
You get a 0% balance transfer for 6 months and also get a 10% Myer Voucher (which does not expire) so you can save that for when you buying your furniture etc.... this is in lieu of the extra vouchers... .
but you can still get 6c off a litre (instead of 8) ....

Now I will wait to do a big purchase on my existing credit card and after that apply for this card, and get 0% balance transfer....

 

[oz_mark]

b. If you get offered a low limit you can send them your statements of other cards and this will get reviewed.

Even if you do get a low limit, my experience is that they will be constantly offering you a higher limit (in my case the last offer was to triple my credit limit. I think they are encouraging me to buy a plasma TV or something )

 

[oz_mark]

but you can still get 6c off a litre (instead of 8) ....

It was changed to 8c a litre in December. You now get extra 4c vouchers instead of the 2c ones.

 

[cpl]

You get a 0% balance transfer for 6 months

That's why I got the card However the process of increasing the limit and transferring a balance was amazing. First GE --the finance institute behind the card-- provided the wrong fax number for faxing statements (wrong department within GE) and apparently they also lost the statements I faxed. Finally it worked out but it took a month or so compared to AMEX transferring a balance in less than 48h.

 

[oz_mark]

You get a 0% balance transfer for 6 months

That's why I got the card However the process of increasing the limit and transferring a balance was amazing. First GE --the finance institute behind the card-- provided the wrong fax number for faxing statements (wrong department within GE) and apparently they also lost the statements I faxed. Finally it worked out but it took a month or so compared to AMEX transferring a balance in less than 48h.

My experience with Amex is that if you do the balance transfer online it is quick, if you post in one of the forms they like sending me, it is damn slow.

 

[arun]

I have a Coles Myer Master card. It used to be great for inteest free offers. I bouht a lot of electical stuf after getting them to match the best sreet price I could find. Worked well.
Now a slght irritaion - there is often a $25.00 "special promotion fee" that is charged on top of the price.

 

[oz_mark]

If GE had there way, there'd be a $2.50 admin fee each month on interest free deals as well (as there is on Buyers Edge/Credit Line or Go Mastercard at Harvey Norman). Somehow Myer have kept this at bay.

 

[JohnK]

If GE had there way, there'd be a $2.50 admin fee each month on interest free deals as well (as there is on Buyers Edge/Credit Line or Go Mastercard at Harvey Norman). Somehow Myer have kept this at bay.

Interesting you mention that.

I started off with an AGC credit line card which is now GE credit line card. They charge around 25% interest/pa plus $2.50/month account fee. :?

 

[oz_mark]

If GE had there way, there'd be a $2.50 admin fee each month on interest free deals as well (as there is on Buyers Edge/Credit Line or Go Mastercard at Harvey Norman). Somehow Myer have kept this at bay.

Interesting you mention that.

I started off with an AGC credit line card which is now GE credit line card. They charge around 25% interest/pa plus $2.50/month account fee. :?

I started off with AVCO that got swallowed up by GE, but that account is long gone.

I just changed my Buyers Edge card to a Go Mastercard, and that has interest rates that very depending on how you buy things on it.