QANTAS to launch their own credit card in tie-up with Citibank

[Cynicor]

The 3% fee is actually quite standard for most credit cards.

While true, there are many 0% cards on the market right now, including ones that give points.

 

[cove]

Yes but you could go Bankwest World get a fair exchange rate and 0.66 QF points.
Or Citibank debit and no points but fair exchange rates.
I use Chase Sapphire in the US for 2 points per dollar at restaurants. You need a SSN to get this US CC.

 

[Pleb Status]

It is funny to see this thread 'revived' as I had forgotten all about this card.

I do remember the massive hoopla around here leading up to the launch of the card however and the disappointment that followed.

Sort of like the QF 789 launch and the QF PER-LHR launch...

 

[N860CR]

I've already cancelled mine. Not worth holding onto

 

[opusman]

The overseas exchange rate and fees are way too high for us to use this when we are in the US. Might be about as ordinary as Qantas Money.

I've decided to stop worrying about the standard 3% fee. Say you spend $10,000 on a trip overseas. That's $300. Not really worth worrying too much about imo.

 

[Kangol]

While true, there are many 0% cards on the market right now, including ones that give points.

Which cards are you referring to? QFF or non-QFF or both?

 

[RichardMEL]

I've already cancelled mine. Not worth holding onto

Out of interest... (or for future reference ) how much pain was it to cancel - as in the efforts made to retain you etc from the Citi call centre?

 

[RichardMEL]

I've decided to stop worrying about the standard 3% fee. Say you spend $10,000 on a trip overseas. That's $300. Not really worth worrying too much about imo.

I'm somewha similar in my view. I see the 3% charge as paying for the points more or less. On recent US trips I've found the rate to be more or less in line with the "sell" rate of the day (-3% of course) and with 1.5x the points, I kind of factor it in and not worry.

Plus that spend doesn't count towards the $10k limit for 1:1 points on domestic spend, so that makes it a little easier.

I could go for a 0% care sure, but honestly to me it's easier to manage my spend between the QF card and Amex. Obviously always looking for a better value QF earning card for domestic spend, but for now this does reasonably well for me (of course come the annual fee time in August I am not looking forward to that sting, and kind of hoping something else will come out in the next few months to switch to, but that's an ongoing process for most of us I think).

 

[cove]

I don’t leave that sort of money per trip into bank profits.
To avoid this go Citi debit or one of the other no fee and fair exchange rate offerors.

 

[Cynicor]

Which cards are you referring to? QFF or non-QFF or both?

Both exist. They are well documented on here- ANZ, CBA Diamond Amex, Coles MC, Bankwest.

 

[Scr77]

Both exist. They are well documented on here- ANZ, CBA Diamond Amex, Coles MC, Bankwest.

Under Citi, Coles MC is no longer OS fee free.

 

[kamchatsky]

Under Citi, Coles MC is no longer OS fee free.

looking at their rewards mastercard website, it says it is still OS Fee Free?

Rewards Mastercard - Coles Credit Cards

 

[Scr77]

It’s not. On the website there is fine print saying the t&c’s have changed with the takeover but website not overhauled. I have this card, think it was 5th March.

The card is still uncapped though.

looking at their rewards mastercard website, it says it is still OS Fee Free?

Rewards Mastercard - Coles Credit Cards

 

[kamchatsky]

It’s not. On the website there is fine print saying the t&c’s have changed with the takeover but website not overhauled. I have this card, think it was 5th March.

The card is still uncapped though.

I have this card also. Looking at the Financial Table Update below, it says:

https://financialservices.coles.com...n/coles-mastercard-financial-table-update.pdf

Coles Credit Cards – Changes to your Coles Mastercard

International Transaction Fee

The International Transaction Fee will change to 2.50%, debited to your Account on the
Transaction Date, of which a service and assessment fee of 1.10% is payable by us to
Mastercard, for any Retail Purchase or Cash Advance transaction in:
1. Foreign currency once converted to Australian dollars; and/or
2. Australian dollars (or any other currency), when either the merchant or its financial
institution/payment processor is located or registered overseas, including transactions
that involve dynamic currency conversion (that is where a transaction denominated in a
foreign currency is converted to local currency which is a service that is offered by
certain ATMs and merchants). The process of conversion and the exchange rates
applied will be determined by the relevant ATM, merchant or dynamic currency
conversion service provider as the case may be. We do not determine whether a Card
transaction will be converted into local currency by the merchant or ATM and you may
have to check with the relevant merchant or ATM provider.
Note: It may also not always be clear that the merchant or its financial institution/payment
processor is located or registered outside of Australia.

The International Transaction Fee for Retail Purchases is waived on the Coles Rewards
Mastercard. Any Cash Advance transaction using your Coles Rewards Mastercard will
continue to incur an International Transaction Fee.

So looks like for Coles Rewards Mastercard, the transaction fee remains waived. The 2.5% refers to other Coles Mastercard only.

 

[Scr77]

I have this card also. Looking at the Financial Table Update below, it says:

https://financialservices.coles.com...n/coles-mastercard-financial-table-update.pdf

Coles Credit Cards – Changes to your Coles Mastercard

International Transaction Fee

The International Transaction Fee will change to 2.50%, debited to your Account on the
Transaction Date, of which a service and assessment fee of 1.10% is payable by us to
Mastercard, for any Retail Purchase or Cash Advance transaction in:
1. Foreign currency once converted to Australian dollars; and/or
2. Australian dollars (or any other currency), when either the merchant or its financial
institution/payment processor is located or registered overseas, including transactions
that involve dynamic currency conversion (that is where a transaction denominated in a
foreign currency is converted to local currency which is a service that is offered by
certain ATMs and merchants). The process of conversion and the exchange rates
applied will be determined by the relevant ATM, merchant or dynamic currency
conversion service provider as the case may be. We do not determine whether a Card
transaction will be converted into local currency by the merchant or ATM and you may
have to check with the relevant merchant or ATM provider.
Note: It may also not always be clear that the merchant or its financial institution/payment
processor is located or registered outside of Australia.

The International Transaction Fee for Retail Purchases is waived on the Coles Rewards
Mastercard. Any Cash Advance transaction using your Coles Rewards Mastercard will
continue to incur an International Transaction Fee.

So looks like for Coles Rewards Mastercard, the transaction fee remains waived. The 2.5% refers to other Coles Mastercard only.

Thanks for the clarification. I’d stopped using this card OS because of my error.

 

[N860CR]

Out of interest... (or for future reference ) how much pain was it to cancel - as in the efforts made to retain you etc from the Citi call centre?

Painless enough. I just spoke over the top of them and said you are to cancel the card and I'm not wasting anymore of my time with you.

 

[Danger]

I applied again a couple of days ago and got a call earlier today. The offshore call centre girl wanted me to provide my address in 2007 and my address in 1998! I asked why and how Citibank has that information anyway and he said it's to Citibank's policy, to verify that it's a legitimate application and that he was referencing my address details from some kind of banks database. She also asked me what other credit enquiries I have made. Before I could say "I'm going to need to charge my phone because this is going to take some time" she said "Just the names of the banks will be fine". This is the first time, with Citibank or any bank that I've been asked for this sort of detail.

Denied. For the third time.

 

[Scr77]

Denied. For the third time.

Don’t be sad....I’ve never been able to get a citi backed card. I’ve given up on wasting my score on them.

 

[AviationNZ]

Don’t be sad....I’ve never been able to get a citi backed card. I’ve given up on wasting my score on them.

Ditto!!! Plenty of other credit card fish in the churning sea!!

 

[Danger]

So I eneded up applying for the NAB card and got approved a few hours later. *hitibank can shove its appaling customer service.