Macquarie Bank takes over from HSBC

[akky]

Re: The party is over

No I didn't apply for a new card or account.
I have been with the old HSBC/WOW EDR Card for about 18 months now. Today I received an email saying that they will be sending/ or already have sent me a "new-look" (basically a re-branded) card and if I activate it before 31 March, I will be getting 10% of my woolies shopping as a bonus offer. I am guessing they are trying to get me to activate the new one asap, and get rid of the old HSBC branded one. But I am a little confused with the point capping which is stated under the T&C in the email... is it applied from when I activate the new-look card or from today :S

 

[woodborer]

Re: The party is over

my question is, has anyone else received the same email and does this mean the point capping will only take place only after I activate my new-look card, or its effective from today?

Is it just a new look? I heard at one point (during a phone call with them) that they might re-issue all the Mastecards as Visa cards, with a new number, new look etc.

 

[akky]

Re: The party is over

in the email it says "new-look" and yes its got a pic of a visa branded card.

 

[Pushka]

Re: The party is over

So i got an email asking to activate my new-look card as soon as it arrives in mail. In the email it also says under T&C, the capping of points to $2.5k and offers 10% of woolies shopping if I activate before 31 march.

my question is, has anyone else received the same email and does this mean the point capping will only take place only after I activate my new-look card, or its effective from today?

Thank you in advance!

Yes. I received it too.

 

[akky]

Re: The party is over

Yes. I received it too.

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Pushka, would you be knowing if the points cap only starts after the activation? or now?

 

[Pushka]

I suspect it starts from March regardless. The thrust is about the 10% discount on activation - probably to take attention away from the points capping.

 

[woodborer]

So they are changing it to a Visa card (with a new number I guess). Wish they'd mention stuff like that, rather than blather about a new look. I guess we can look forward to a package - there's new insurances as well....

 

[akky]

I suspect it starts from March regardless. The thrust is about the 10% discount on activation - probably to take attention away from the points capping.

Thank you Pushka.

 

[Princess Fiona]

So they are changing it to a Visa card (with a new number I guess). Wish they'd mention stuff like that, rather than blather about a new look. I guess we can look forward to a package - there's new insurances as well....

Actually changing it to a Visa with a new number makes it even easier to get rid of it. I had been in the process of adding up all the direct debits to my card to see if they scraped in under the $2.5K monthly spend as it's a real pain changing all that stuff over. Now that I'm going to have to do that anyway I'll just do it to a brand new card. Bye-bye Woolies it was fun while it lasted

 

[Walter_Plinge]

Actually changing it to a Visa with a new number makes it even easier to get rid of it. I had been in the process of adding up all the direct debits to my card to see if they scraped in under the $2.5K monthly spend as it's a real pain changing all that stuff over. Now that I'm going to have to do that anyway I'll just do it to a brand new card. Bye-bye Woolies it was fun while it lasted

Agreed. Plus I suspect BPay is now excluded from earning points. It seems to be with many VISA cards.

What is it with VISA? They must be offering financiers special deals. A couple of years ago Mastercard ruled the roost; all of a sudden VISA is everywhere.

 

[sumthinfornuthin]

Well that is true of ATO too, I do pay tax too personally!

Im sure they have algorithms for this, i.e. if you are paying >$1000/month to Telstra its probably worth looking at!

Is tax a business expense ?? I reckon I could put up a pretty good argument that for many people it is not

 

[burmans]

Is tax a business expense ?? I reckon I could put up a pretty good argument that for many people it is not

Yes, that was rather my point and there is no way they know from an individual transaction which it is. Of course if you only earn 100k and you are paying similar in tax they probably are making some assumptions!

 

[cove]

My Qantas credit union application is progressing as a just in case the Macquarie changes are permanent with the Woolies card.
I got told that QCU were receiving heaps of applications from customers who were previously with Big 4 banks but I won't name those banks on this thread.

 

[grussellt]

Actually changing it to a Visa with a new number makes it even easier to get rid of it. I had been in the process of adding up all the direct debits to my card to see if they scraped in under the $2.5K monthly spend as it's a real pain changing all that stuff over. Now that I'm going to have to do that anyway I'll just do it to a brand new card. Bye-bye Woolies it was fun while it lasted

I've already said my farewell to the Woolies card. At the moment I have my big bank Amex/Visa combination (negotiated as fee-free, for now as a very long-term customer) but still need something to replace the poor points earn on Visa, when Amex is not accepted. All I need is a low-cost Mastercard with a good points earn. Please let me know if you find one!

 

[get me outta here]

I still not had any written notification of any of the changes that kept coming to light. Only that the points would be capped over a phone call to get the next year fee free. Nothing showing on line either for me either.

 

[serfty]

I still not had any written notification of any of the changes that kept coming to light. Only that the points would be capped over a phone call to get the next year fee free. Nothing showing on line either for me either.

Do you pay for a paper statement mailed to you or do you need to download you statement online?

 

[get me outta here]

I don't get paper. I have looked at the statement a day or so ago and no mention of changes, maybe just my statement timing is not quite up yet. I'll have another look later.

Do you pay for a paper statement mailed to you or do you need to download you statement online?

 

[serfty]

I don't get paper. I have looked at the statement a day or so ago and no mention of changes, maybe just my statement timing is not quite up yet. I'll have another look later.

If you last statement was generated prior to Jan 20th it is unlikely to have any text regarding the capping on it.

If after then ...

 

[medhead]

I don't get paper. I have looked at the statement a day or so ago and no mention of changes, maybe just my statement timing is not quite up yet. I'll have another look later.

It was right at the end of my statement. After the transactions. Small print.

 

[Walter_Plinge]

My Qantas credit union application is progressing as a just in case the Macquarie changes are permanent with the Woolies card.
I got told that QCU were receiving heaps of applications from customers who were previously with Big 4 banks but I won't name those banks on this thread.

Ditto - applied last week.

Interesting that QCU is getting many applications. I guess this is a flow-on from last year's change from Qantas Staff Credit Union (where you had to have a family member who was a Qantas employee) to plain QCU. What with the Qantas retrenchments I suppose there were fewer and fewer employees available to support the business. As it happens 12 months I was contemplating QSCU as my brother-in-law is QF flight crew.