Qantas CU - Platinum Visa

[jingles]

Just an FYI

Somewhere around post #270 in this thread we talk about the fee not being charged immediately when you sign up for this card.
I just signed up for this and can confirm the fee is added to your account immediately.

Initially the offer provided the first year for free.
This offer has expired and a new offer is available where you get the points however there is no free first year. This is why you have been charged the fee straight away

A lot of posts from people cancelling, which is fair enough if you are 'churning and burning' cards for bonus points. But has anyone had any discussions about cancellation with QSCU that led to an offer of a fee reduction to keep the card?
I like the card, and find the service great. The original 44 days interest free was a bit of a pain as we'd often get a statement a few days before the due date, but that's now been improved and is 55 days. So I'd actually like to hang on to it, but its a little hard to justify when the woolies EDR is only $89.

I would say call them and ask, they may be willing to work something out.
I would think that you could improve your chances of a fee reduction if you were to bring your other banking across to them.

I know that the more money/loans etc you have with them the higher allowance you have to be used against account fees, they might be willing to allow you to allocate this to the credit card fee,

 

[Mattyana2003]

Does anybody know if this card has annual points capping? I can't see it anywhere on their website. Thanks.

 

[puppysparkes]

Does anybody know if this card has annual points capping? I can't see it anywhere on their website. Thanks.

I was verbally advised over 12 months ago that it was uncapped. It may have changed since then though.

 

[Jacques Vert]

Not sure if this is the correct place to post this or if this has been mentioned elsewhere or whether it should be a new thread:

Qantas Staff Credit Union are giving Qantas points for home loans, car loans & savings accounts as well as their Visa card. Could be a good earner for those with a large mortgage or lots of cash in the bank. Details here: https://www.qantascu.com.au/rewards

The interest rates are competitive and the criteria for membership are quite broad (you don't need to work for Qantas).

JV

 

[asdf]

Qantas Staff Credit Union are giving Qantas points for home loans, car loans & savings accounts as well as their Visa card. Could be a good earner for those with a large mortgage or lots of cash in the bank. Details here: https://www.qantascu.com.au/rewards

The interest rates are competitive and the criteria for membership are quite broad (you don't need to work for Qantas).

JV

Thanks, I didn't know about this. Unfortunately the interest rates for savings appear to be 2.5%, which is not particularly competitive with the current offerings over 4%...

 

[Jacques Vert]

Thanks, I didn't know about this. Unfortunately the interest rates for savings appear to be 2.5%, which is not particularly competitive with the current offerings over 4%...

True, and I am not an employee or advocate of any particular product. However, I would suggest that while there are many products that offer ~4%, there are plenty of others which offer far less; sometimes nil. And many of them charge fees,etc.

Overall, I think that the QSCU account with no fees or charges, funds at call and 2.5% paid monthly is better than many, not as good as some. It will suit some, not others. Perhaps the points on the home loan will be more attractive to those of us addicted to points! JV

 

[euromichael]

cancelled this card recently. cleverly wrote my cancellation email to try and get the fee waived but not a chance. they didn't even remotely give a toss and cancelled the card as requested. switched over to HSBC (fee, but lounge passes and points).

 

[singh]

True, and I am not an employee or advocate of any particular product. However, I would suggest that while there are many products that offer ~4%, there are plenty of others which offer far less; sometimes nil. And many of them charge fees,etc.

Overall, I think that the QSCU account with no fees or charges, funds at call and 2.5% paid monthly is better than many, not as good as some. It will suit some, not others. Perhaps the points on the home loan will be more attractive to those of us addicted to points! JV

Comparing their home loan with other home loans on the market at the moment its not a good deal either..

 

[Jacques Vert]

Comparing their home loan with other home loans on the market at the moment its not a good deal either..

Hmmmm: 5.03% standard rate for a typical home loan with no fees, full offset, etc. but no points, gives a comparison rate of 5.03%; not to shabby (less for $1m+).

On the other hand, if you are addicted to points then it costs you 5.18% or comparison rate of 5.47%. A bit like credit cards really-some of us pay a significant fee to get a card that earns points while others take a lower interest rate.

Of course, if you pay the balance of a credit card off each month then the interest rate is irrelevant, while the interest rate on a home loan is a different matter.

As stated before, it may suit some, not others.

JV

 

[ferni]

Points aren't free, they have to be paid from somewhere.... ie an extra few points on the interest rate......

 

[mrpooky]

cancelled this card recently. cleverly wrote my cancellation email to try and get the fee waived but not a chance. they didn't even remotely give a toss and cancelled the card as requested.

I did the same this month. Without the sign up bonus I won't earn anywhere near enough points from it to warrant the annual fee.

But I have to say that I was a little bit sad to do so, as I have experienced better customer service from QSCU than any other bank or credit union that I've banked with. I am very impressed.

mrpooky.

 

[redmarine]

I did the same this month. Without the sign up bonus I won't earn anywhere near enough points from it to warrant the annual fee.

But I have to say that I was a little bit sad to do so, as I have experienced better customer service from QSCU than any other bank or credit union that I've banked with. I am very impressed.

mrpooky.

i also did the same as well and echo the same sentiments, very good customer service and phone calls are always answered promptly, but also was not given any discount whatsoever and staff member seemed more than happy to cancel. I have left my savings account open with them but don't think I will be using it much because the interest rates aren't very competitive. It is more so for convenience because when I initially signed up you had to name a QANTAS staff member you were referred by and that was a lengthy process of verification.

Also their bank is always closed when I'm at the airport but can't blame them since they operate standard banking times. Would be good if they had branches outside the terminal though