There's a new card in town

[clifford]

My $49 Annual Fee got re-imbursed which is pretty good.

My interest amount last month was $1.59 vs $50 for ANZ - I will NEVER go back to ANZ again.

So far so good for my Earth Card, I'm very happy with it!!!

It's a smiley...

 

[JohnK]

Received my first statement and noticed the $49 annual fee on it.

It took 1 call to have this amount reversed. I will give them the benefit of the doubt as it is a relatively new product and they are trying to iron out any gremlins.

 

[serfty]

Received my first statement and noticed the $49 annual fee on it.

It took 1 call to have this amount reversed. I will give them the benefit of the doubt as it is a relatively new product and they are trying to iron out any gremlins.

This happens too often to be a coincidence. It seems even the customer service agents who answer your calls are quite ready and willing to reverse the charge. This implies they are very aware of the issue.

 

[JohnK]

This happens too often to be a coincidence. It seems even the customer service agents who answer your calls are quite ready and willing to reverse the charge. This implies they are very aware of the issue.

I think you are right but since they reversed the charge not much point in taking the matter further.

 

[serfty]

I think you are right but since they reversed the charge not much point in taking the matter further.

All too easy.. debit the charge and hope a fiar percentage of new customers don't notice. For those that do, make it very easy to reverse the charge to ease customer ire.

 

[JohnK]

All too easy.. debit the charge and hope a fiar percentage of new customers don't notice. For those that do, make it very easy to reverse the charge to ease customer ire.

Neat trick!

 

[oz_mark]

All too easy.. debit the charge and hope a fiar percentage of new customers don't notice. For those that do, make it very easy to reverse the charge to ease customer ire.

Not something Amex seen to be able to do.

 

[bambbbam2]

Were they all no annual fee?

I have an Earth card, have just checked my statement and the $49 fee is on there. I honestly don't remember whether it was No Annual Fee when i applied, so not sure whether to question it ..

 

[JohnK]

If I remember correctly, the first offer with the 5,000 FF points did have an annual fee of $49 or $79 applicable from the first year. When I applied there was no FF points but the fee waived in the first year. Same same but not the same.

I would still call them and see if they will reverse the fee. You never know they may have developed a guilty complex by now and reverse it without question.

 

[locomotion]

Sounds like a bit of a trap in my opinion, a few traps you will need to look out for. Interest charged on purchases through Qantas. Not bad for Cash advance rate though. balance transfer attractive. which do you pay off first though?

 

[JohnK]

Sounds like a bit of a trap in my opinion, a few traps you will need to look out for. Interest charged on purchases through Qantas. Not bad for Cash advance rate though. balance transfer attractive. which do you pay off first though?

To ensure that your Qantas purchases qualify for the 5.99% interest rate you need to call Westpac and tell them which purchases need to be changed to the lower interest rate.

The statement is set out nicely stating outstanding amounts broken down by the applied interest rate.

Any payments made towards credit card set-off outstanding amounts on the lowest interest rate first. So watch out if you have any balance transfers that convert to 18.99% after 6 months is over.

As with any credit card with outstanding balance cash withdrawals are always paid off last.

 

[locomotion]

To ensure that your Qantas purchases qualify for the 5.99% interest rate you need to call Westpac and tell them which purchases need to be changed to the lower interest rate.

The statement is set out nicely stating outstanding amounts broken down by the applied interest rate.

Any payments made towards credit card set-off outstanding amounts on the lowest interest rate first. So watch out if you have any balance transfers that convert to 18.99% after 6 months is over.

As with any credit card with outstanding balance cash withdrawals are always paid off last.

Cash advances are paid off last?
What a rip off!
So your lowest interest rate items get paid off first?
And highest interest earners last?
That is discraceful!
With the Commonwealth Bank, Cash advances get paid of first (Standard interest rate)
Followed by Purchases (Standard interest rate)
Followed by Balance transfers (Currently 5.99%)
Followed by Great Rate items (Currently 0.99%)

I cannot beleive that Westpac would do the reverse!

 

[JohnK]

Cash advances are paid off last?
What a rip off!
So your lowest interest rate items get paid off first?
And highest interest earners last?

That is what I read on the website when I first applied and has been confirmed by a customer service agent.

I cannot beleive that Westpac would do the reverse!

Why? They tried to sneak in the $49 annual fee even though it was supposed to be waived in the first year.

 

[locomotion]

I just did some hunting about this


Westpac on balance transfers:
Please note that payments made to your credit card account are first applied to any amounts transferred from other credit cards, charge cards or store cards under this offer, before they are applied to any other cash advance or purchase amount. This will mean that the portion of your outstanding account balance that is subject to a lower interest rate will be paid off first.

Commonwealth bank on balance transfers
Commonwealth Bank Group - Personal - Credit Cards - Important Information about Credit Cards
Payments are used to pay off:

• first, interest and government charges shown on any statement of your card account;
• second, any credit fees and charges and enforcement expenses shown on any statement of your card account;
• third, any cash advances other than balance transfers;
• fourth, purchases not transferred to Great Rate and permitted transactions shown on any statement of your card account and prior to the last statement;
• fifth, purchases not transferred to Great Rate and permitted transactions shown on the last statement of your card account;
• sixth, purchases not transferred to Great Rate and permitted transactions not shown on any statement of your card account;
• seventh, interest, any credit fees and charges, enforcement expenses and government charges not shown on any statement of your card account;
• eighth, interest on balance transfers shown on any previous statement of your card account;
• ninth, balance transfers shown on any previous statement of your card account paying off balance transfers in order from the highest interest rate to the lowest;
• tenth, balance transfers not shown on any previous statement of your card account;
• eleventh, interest on Great Rates shown on any previous statement of your card account;
• twelfth, Great Rates shown on any previous statement of your card account paying off Great Rate transfers in order from the highest to the lowest; and
• last, Great Rates not shown on any previous statement of your card account.

 

[locomotion]

Nope, as long as you're willing to wait about 2 weeks for it.

(Skip over the paid stuff at the top of the link below, and go to the "free service" section at the bottom.)

Discover your credit history - My Credit File - Australia

If you're a Tasmanian resident, then I believe there is another Credit Reporting agency based there. Can't recall their name now, and not even sure if they are still around.

Tasmainian Collection Services, however banks don't use them. its mainly for real estate

 

[oz_mark]

Cash advances are paid off last?
What a rip off!
So your lowest interest rate items get paid off first?
And highest interest earners last?
That is discraceful!
With the Commonwealth Bank, Cash advances get paid of first (Standard interest rate)
Followed by Purchases (Standard interest rate)
Followed by Balance transfers (Currently 5.99%)
Followed by Great Rate items (Currently 0.99%)

I cannot beleive that Westpac would do the reverse!

I actually think Commonwealth is the odd man out here. Most other banks I have dealt with apply payments to amounts carrying the lower interest rates first.