Reduced annual fees and rewards coming soon...

[andye]

For info
Rang up to cancel today
Explained change to earn/burn was the reason. They mentioned the market changes; I said shouldn't apply to the DC component
Offered 5K points to keep card open until annual fee expiry in Dec 17 which I turned down
Escalated to manager
Offered 10k points which I took
Card will be staying in the bottom drawer

 

[albyd]

Thanks for the heads up Andye. I have one more haul to transfer to SPG in a few days (unfortunately at the reduced transfer rate) will then call and give it a go too but will otherwise keep mine in the bottom drawer too.
Something might change in future but unless they waive my annual fee (they did 2 years ago but only half price last year), will be downgrading it to cheaper no reward D.C. only. May come out of hibernation at some point. My Coles card hasn't been used in years and is now my main non Amex card.

 

[TonyHancock]

Called up to cancel today and was initially offered 5000 points. I explained the changes brought on by the RBA made the combo next to worthless to me.

I was promised a phone call back by COB and actually received one within half an hour. The $299 fee will be waived for the year.

Obviously the situation is less than ideal but the MasterCard with its paltry return is still the only Visa/Mastercard that allows me to get points to BA.

 

[FromTheRail]

Called up to cancel today and was initially offered 5000 points. I explained the changes brought on by the RBA made the combo next to worthless to me.

I was promised a phone call back by COB and actually received one within half an hour. The $299 fee will be waived for the year.

Obviously the situation is less than ideal but the MasterCard with its paltry return is still the only Visa/Mastercard that allows me to get points to BA.

Glad they are now doing this, was hoping they would by the time my expiry comes, not really interested in the points but would like to be able to keep using the airport lounges, going to try for a free supplementary card as well hopefully the amount of money i've put through it in the last year will help to convince them.

 

[TonyHancock]

Glad they are now doing this, was hoping they would by the time my expiry comes, not really interested in the points but would like to be able to keep using the airport lounges, going to try for a free supplementary card as well hopefully the amount of money i've put through it in the last year will help to convince them.

It did make me wonder what the criteria were, particularly when Westpac made no attempt to retain my business in my next phone call of the day. :shock:

 

[drron]

It did make me wonder what the criteria were, particularly when Westpac made no attempt to retain my business in my next phone call of the day. :shock:

So WDKWYW but DCD.

 

[boffman]

I put just over $300k through the card last FY. For those that have been offered points / fees waived, do you think that's enough spend for them to want to keep me?
I'm asking because when the next lot of points comes through I plan to call and cancel.

 

[TonyHancock]

I put just over $300k through the card last FY. For those that have been offered points / fees waived, do you think that's enough spend for them to want to keep me?
I'm asking because when the next lot of points comes through I plan to call and cancel.

I suspect you will be fine based on my spend.

 

[FromTheRail]

I suspect you will be fine based on my spend.

Good to know as my full year spend will be just under boffman's

 

[andye]

Mine was well under that

 

[coles525]

Thanks for the heads up Andye. I have one more haul to transfer to SPG in a few days (unfortunately at the reduced transfer rate) will then call and give it a go too but will otherwise keep mine in the bottom drawer too.
Something might change in future but unless they waive my annual fee (they did 2 years ago but only half price last year), will be downgrading it to cheaper no reward D.C. only. May come out of hibernation at some point. My Coles card hasn't been used in years and is now my main non Amex card.

I suggest you ring coles cc and check your account is still active, not cancelled.

Partner spoke a week or more ago, was told that as it was on long term leave (my quote!), they automatically cancel an inactive account!

Didn't bother applying for a new card. (Bonus points). As I was approved only last month for 20k points.