Macquarie Bank takes over from HSBC

[aussiejohn]

I only got a 2000 point offer. Couldn't hold out for a better offer as my February statement was due to be paid by 30 March.

I didn't notice at the time, but when I looked at it last night, they had changed the card number etc to the new Visa Card, which I did not receive until a couple of weeks after the bill. So I was unable to Bpay it using the old number as my online account had been changed and there was the message that I could pay online until I activated the new card.

Very angry about being forced into this change.

Given that the whole shebang has disintegrated into a farce with points capping, and Macquarie Bank taking over, I would get rid of the card tomorrow. However I have just retired and have no permanent job. Just pension (not full amount) and some savings so far, though I have some super which I will turn into an small income stream. Chances of me being able to get a bank to give me a new card with one to one conversion, to replace this one is slim to none I suspect.

I only took out the Woolies Mastercard to back up my ANZ FF Platinum Amex as the ANZ Visa is useless at only .5 to one.

Would agree that customer service is atrocious now, but in saying that, I did manage to get a late payment fee and excessive interest charge reversed in January.

I guess we are stuck with it. Maybe if we complain long enough and loud enough, Woolworths will fix it. I won't hold my breath.

 

[ComeFlyWithMe]

I only got a 2000 point offer. Couldn't hold out for a better offer as my February statement was due to be paid by 30 March.

I didn't notice at the time, but when I looked at it last night, they had changed the card number etc to the new Visa Card, which I did not receive until a couple of weeks after the bill. So I was unable to Bpay it using the old number as my online account had been changed and there was the message that I could pay online until I activated the new card.

Very angry about being forced into this change.

Given that the whole shebang has disintegrated into a farce with points capping, and Macquarie Bank taking over, I would get rid of the card tomorrow. However I have just retired and have no permanent job. Just pension (not full amount) and some savings so far, though I have some super which I will turn into an small income stream. Chances of me being able to get a bank to give me a new card with one to one conversion, to replace this one is slim to none I suspect.

I only took out the Woolies Mastercard to back up my ANZ FF Platinum Amex as the ANZ Visa is useless at only .5 to one.

Would agree that customer service is atrocious now, but in saying that, I did manage to get a late payment fee and excessive interest charge reversed in January.

I guess we are stuck with it. Maybe if we complain long enough and loud enough, Woolworths will fix it. I won't hold my breath.

While I agree with the sentiment, the forcing of activation to pay your account is incorrect.

 

[sumthinfornuthin]

While I agree with the sentiment, the forcing of activation to pay your account is incorrect.

$2,500 per month then using another card. have not used CITIBANK for 2-3 years but started again. Looks like ATO will be a miss mostly from here on. I am getting sick of having to chase cards !

 

[cove]

I have not bothered to activate the new card that came in the mail. I think I can still use the back of the card for everyday rewards points and I have the Qantas Credit Union card working nicely as a replacement.

 

[legroom]

While I agree with the sentiment, the forcing of activation to pay your account is incorrect.

Good to know as I had cancelled my card with the balance due next week - to be paid by BPay using the 'old' CC number as I chose not to activate my new card.

Any problem would be owned by the bank. Period.

My obligation would only to pay them in full and on time.

 

[kpc]

I have not bothered to activate the new card that came in the mail. I think I can still use the back of the card for everyday rewards points and I have the Qantas Credit Union card working nicely as a replacement.

I cancelled the card 2 weeks ago after paying the balance off. Have successfully applied for the Qantas Credit Union card, and am patiently waiting for the physical card to arrive (have already been charged the $195 annual fee). My parents cancelled some flights and the refund went back to the card that was used to pay for it,,,guess which card? So rang Macq up today, and they kindly will refund the balance to my bank account

 

[cove]

Wow that was a nice touch from the silver donut!

 

[PLANT]

When is this new card arriving....... On renewal or out of the blue as change over to Mac card?

 

[Walter_Plinge]

I'm moving some payments across to Amex.

For BWS and Woolies Caltex stations, now for example , I use the Amex and get my EDR card scanned separately.

I just can't believe that Macquarie don't recognise their flawed reasoning.

It might not be Macquarie. It could be Woolworths is no longer willing to purchase points from Qantas. I see in the papers recently Woolies financial performance is slipping.

 

[amaroo]

Received a second email offering 2000 QFFP .... not good enough you bunch of bankers.

 

[DeKa]

I had a call today asking if I'd received the card. When I said yes, they asked why I hadn't activated it yet. I said I wasn't sure if I was going to, as the points earn devaluation was so bad.
The person basically wound up the call at that point.

 

[Mark3000]

I had a call today asking if I'd received the card. When I said yes, they asked why I hadn't activated it yet. I said I wasn't sure if I was going to, as the points earn devaluation was so bad.
The person basically wound up the call at that point.

Good work. That's what I will be telling them too

 

[Walter_Plinge]

Good work. That's what I will be telling them too

I wonder if Woolworths has noticed a sudden drop in charges. I speculate the 80/20 rule applies: 20% of card holders accounted for 80% of the value of charges. A good proportion of that 20% have now made other arrangements. Could have been a costly dummy-spit on Woolworths' part.

 

[tgh]

Where is the primary profit for a cc operation ?

 

[amaroo]

Where is the primary profit for a cc operation ?

Something that starts with a 2 ... and ends with one of these %

 

[tgh]

…sooooo… why would they miss the bulk money points harvesters as per Walters allusion ?

 

[amaroo]

The very same reason ATO friendly cards are being euthanised

 

[ComeFlyWithMe]

Many of us play them at their own game. I have high credit limits and haven't paid a cent of interest in 15 years of having cards. They don't make any money from me.

 

[amaroo]

Many of us play them at their own game. I have high credit limits and haven't paid a cent of interest in 15 years of having cards. They don't make any money from me.

You, me and a bunch of others! CC are cutting the easy points from the equation - I'd do the same ... But I'd moved much earlier!

 

[sumthinfornuthin]

Many of us play them at their own game. I have high credit limits and haven't paid a cent of interest in 15 years of having cards. They don't make any money from me.

Not quite correct ComeFlyWithMe.....I bet you make heaps for them with what they charge the people you use your card with ??? Just because YOU don't pay them interest does not make you an unprofitable customer.
Work it out, you might put $ 250/$300K through your card annually at about 1.5 % charge out for them = $ 4/5,000 from YOU using THEIR card.