Westpac Singapore Airlines Card Changes 15/12/10 & 1/3/2011

[Sarge1]

What would be the reason behind offering 1 for 1 with international purchases and not for Australia?

 

[albatross710]

What would be the reason behind offering 1 for 1 with international purchases and not for Australia?

The merchant fees are higher on the overseas transactions. Many overseas merchants are still paying 4-5% on the transaction some of which flows through to the Australian banks.

 

[Cruiser Elite]

The merchant fees are higher on the overseas transactions. Many overseas merchants are still paying 4-5% on the transaction some of which flows through to the Australian banks.

I find this hard to believe - I have friends in USA and China we regularly trade with and they pay nothing like these rates.

More likely Westpac LOVE international transactions cause they know they are going to screw you on the conversion and want you to spend as much as possible o/s.

 

[albatross710]

I find this hard to believe - I have friends in USA and China we regularly trade with and they pay nothing like these rates.

More likely Westpac LOVE international transactions cause they know they are going to screw you on the conversion and want you to spend as much as possible o/s.

Agreed, whenever a bank is offering an incentive to change behaviour it is going to work in their favour.

Recently I received a review of our company merchant fees which showed the higher charges for when we process international cards. The fees I have been offered by overseas merchants suggest a similar cost gradient from their end.

Semi-bundled PRICING OFFERED (GST INCLUSIVE)
Visa MicroPayments MSF (GST inclusive) 0.20%
MasterCard Debit Card MSF (GST inclusive) 0.25%
Visa Debit Card MSF (GST inclusive) 0.57%
Visa Electronic Card MSF (GST inclusive) 0.63%
MasterCard Micropayments Card MSF (GST inclusive) 0.63%
MasterCard Electronic Card MSF (GST inclusive) 0.63%
MasterCard HandKeyed/MOTO Card MSF (GST inclusive) 0.63%
Visa handkeyed/MOTO Card MSF (GST inclusive) 0.79%
Visa Premium Card MSF (GST inclusive) 1.18%
MasterCard Premium Card MSF (GST inclusive) 1.20%
MasterCard Commerical Card MSF (GST inclusive) 1.42%
Visa Commercial Card MSF (GST inclusive) 1.45%
Visa International Card MSF (GST inclusive) 1.62%
MasterCard International Card MSF (GST inclusive) 1.70%

Cheers

 

[cove]

At our office we held firm on the fees so we still get charged 0.77% rather than any higher figure for different styles of Visa and Mastercards.
Lifetime value of a customer remains important to our bank.

 

[albatross710]

At our office we held firm on the fees so we still get charged 0.77% rather than any higher figure for different styles of Visa and Mastercards.
Lifetime value of a customer remains important to our bank.

Agreed, we ended up with a single % for all of the cards but the unsuccessful proposal from CommBank wanted to adjust the fees based upon card type..

 

[Cruiser Elite]

Re: 25 Days to Go

There's the Citibank Select card, although it's $700/year.........As far as I know, that's the only one with KF 1:1.

A bit of advice from you learned ladies and gentlemen please.

Citibank Cards earn 1pt / $1 spent right - except CitiBusiness that earns 1.25pt / $1 spent if I am reading Citi web site correctly.

Transfer rate Citi - KF is 1.5 Citi pt = 1 KF pt - is that correct?

If yes - each $1 spent on Citi Plat / Gold card = .66 KF pt right?

UNLESS

CitiBusiness - each $1 spent on CitiBusiness = .84 KF pt right?

Annual fee on Citi Plat $700 - 40,000 bonus pts - CitiBusiness annual fee $149 - if monthly spend is $10,000 and after 12 months all reward points earned on CitiBusiness transferred to KF would result in extra 40,800 KF points compared to Citi Plat so 'First Spend Bonus' of 40,000pts is wiped out.

Are my calculations correct or flawed?

 

[cove]

Looks correct but watch out for points capping on cards other than Select if you are a big user.

 

[Cruiser Elite]

Looks correct but watch out for points capping on cards other than Select if you are a big user.

Only talking 15,000 to 20,000 $ spend per month - this looks to be my best alternative for Mar 1 onwards.

 

[MAX_1]

Re: 25 Days to Go

There's the Citibank Select card, although it's $700/year. As far as I know, that's the only one with KF 1:1.
Any one care to correct me?

Just spoke to a Citibank Consulatant and received the following Information.

Citi Select $700 per annum. Uncapped.
Points earning.
If Qantas is selected,then for every $1 spent 1 QFF point will be earned.
If Qantas is not selected. For every $1 spent 2 Citi Reard points (CR) are earned.
These points can be transfered to KrisFlyer (Singapore Airlines) at the rate of 1 KF mile for every 1.5 CR point.

So for every $1 spent this can be converted to 1.33 KF points

The above does not apply to Citi Platinum. which is a capped card and earns at a different rate. I think $1 earns .66 KF miles.(points)

 

[cove]

That makes CitiSelect the best for KF next choice of card.

 

[Cruiser Elite]

That makes CitiSelect the best for KF next choice of card.

Yes absolutely - I just confirmed that with Citi Bank - but earlier today I got a different response from different rep - this time however I went throgh step by step - that rate is better than Westpac KF Visa

 

[voyageur]

Re: 25 Days to Go

Just spoke to a Citibank Consulatant and received the following Information.

Citi Select $700 per annum. Uncapped.
Points earning.
If Qantas is selected,then for every $1 spent 1 QFF point will be earned.
If Qantas is not selected. For every $1 spent 2 Citi Reard points (CR) are earned.
These points can be transfered to KrisFlyer (Singapore Airlines) at the rate of 1 KF mile for every 1.5 CR point.

So for every $1 spent this can be converted to 1.33 KF points

Hi
Sorry to disappoint you but the rate for city select is 1 Krisflyer point per $1 spent
Citi Select Cardholders earn 2 points per $1 spent and can transfer points to Singapore Airlines' KrisFlyer program at:
2 Citi Rewards points = 1 KrisFlyer Mile, and redemptions must be in multiples of 5,000 Citi Rewards points

 

[Cruiser Elite]

Re: 25 Days to Go

2 Citi Rewards points = 1 KrisFlyer Mile, and redemptions must be in multiples of 5,000 Citi Rewards points

That is not what I just clarified with Citi Bank - they clearly told me 1.5 Citi Reward points = 1 KF pt

 

[voyageur]

I just transferred some of my city select card points to my Krisflyer account, got 1 Krisflyer point for 2 city select points.
Cut and paste from Citibank site this:
" Citi Select Cardholders earn 2 points per $1 spent and can transfer points to Singapore Airlines' KrisFlyer program at:
2 Citi Rewards points = 1 KrisFlyer Mile, and redemptions must be in multiples of 5,000 Citi Rewards points"

This is still the best 1 KF for $1 spent
Call Citibank again, I would love to be wrong.But this is in black and white on their site.

 

[Cruiser Elite]

Call Citibank again, I would love to be wrong.But this is in black and white on their site.

OK just spent 30 mins on phone to Citi Bank - first rep confirmed from web site transfer rate 2 Citi Rewards = 1 KF pt.

I asked switch me through to your rewards dept - after 15 mintues on hold rep from rewards dept confirmed that the 2:1 as stated on web site is indeed for Qantas - Velocity and KF will transfer at 1.5:1.

She went on to say that once my new Citi Select is approved and before activation - that is before the $700 becomes payable - I can request that in writing and they will provide same.

Jeez - what a guy has to do to ensure you sit up the pointy end and slurp on champagne.

 

[voyageur]

I would definitely get that in writing.

Don't trust the Citi bank call centre people, they need to learn a bit more about what selling.Only bank can run a business like this.

This what I got on my screen when I transferred my points and got 1 KF for 2 Citi Select.
"Updating your Frequent Flyer or Frequent Guest Membership details
To update your Membership details for airline rewards or frequent guest programs, click on the Update button and ensure that your name and membership number are correctly displayed.
KrisFlyer
• Silver, Gold, and Platinum Cardholders earn 1 point per $1 spent and can transfer points to Singapore Airlines' KrisFlyer program at:
1.5 Citi Rewards points = 1 KrisFlyer Mile, and redemptions must be in multiples of 15,000 Citi Rewards points
• Citi Select Cardholders earn 2 points per $1 spent and can transfer points to Singapore Airlines' KrisFlyer program at:
2 Citi Rewards points = 1 KrisFlyer Mile, and redemptions must be in multiples of 5,000 Citi Rewards points
Velocity Rewards
• Silver, Gold, and Platinum Cardholders earn 1 point per $1 spent and can transfer points to Velocity Rewards at:
1.5 Citi Rewards points = 1 Velocity Point, and redemptions must be in multiples of 15,000 Citi Rewards points
• Citi Select Cardholders earn 2 points per $1 spent and can transfer points to Velocity Rewards at:
2 Citi Rewards points = 1 Velocity Point, and redemptions must be in multiples of 5,000 Citi Rewards points
Citi Rewards terms and conditions apply and are available by calling 13 24 84 or online at citibank.com.au/rewards
Redemption of Citi Rewards points for frequent flyer or frequent guest points are only available to eligible Citi Rewards Cardholders. You must be a member of the Airline and Hotel Loyalty Programs in which you wish to claim Airline and Hotel Loyalty Points and have advised us of your Airline and Hotel Loyalty Program membership number prior to any such redemption. If you are a member of the Airline and Hotel Loyalty Programs, you are subject to the terms and conditions of the Airline and Hotel Loyalty Programs.
Points transferred may take up to 28 days or longer to appear in your frequent flyer or frequent guest account. Citi Rewards points may only be redeemed for frequent flyer or frequent guest points by the Primary Cardholder and credited to the Primary Cardholder's frequent flyer or frequent guest account.Once Citi Rewards points are redeemed for frequent flyer or frequent guest points the redemption can not be cancelled or reversed and will then be governed by the airline or hotel's terms and conditions.

 

[Cruiser Elite]

I would definitely get that in writing.

Yes I will my friend - and I will scan it and post if I do receive it.

 

[voyageur]

If you do, I will be happy to share a nice French champagne with you.
And will be charging it on my card to get those points.
Bonne Chance.

 

[Cruiser Elite]

If you do, I will be happy to share a nice French champagne with you.

Where you situated my friend - I don't gotta cash these hard earned points to get that drink do I?