Woolworths to launch new credit card (Mastercard/HSBC)

[Mal]

Woolworths to launch new credit card | The Courier-Mail

SUPERMARKET giant Woolworths is set to enter the financial services sector by offering its customers a new credit card.

The Woolworths Everyday Money credit card allows customers to earn shopping cards, which can be used to make purchases at the range of stores in the group's retail outlets.

Woolworths' partners in the credit card are HSBC and MasterCard.

 

[oz_mark]

Doesn't quite have the sound of the Ezy card they had before. Obviously had a rethink on their strategy, before releasing this. Will have to wait for more details

 

[Mal]

And more info:

Media Release: WOOLWORTHS
Tuesday, August 26, 2008
AAP

A FRESH APPROACH TO CREDIT CARDS FROM WOOLWORTHS

Customers are set to reap greater rewards with the launch of the new WOOLWORTHS

EVERYDAY MONEY CREDIT CARD heralding a fresh approach to credit cards.

The card's key feature is its simple rewards program that quickly delivers customers real, attainable and relevant rewards which can be used to make purchases from a range of stores in the Woolworths group.

The general purpose credit card will be available to shoppers from 1 September 2008, offering all Australians a new level of value and convenience, a competitive interest rate, no annual fee in the first year and the ability to choose from four fresh card colours.

THE REWARDS SHOPPING CARDS EVERY 4 MONTHS

Customers will earn points almost everytime they make a purchase with the WOOLWORTHS EVERYDAY MONEY CREDIT CARD. Every four months, customers with enough points will automatically receive an Everyday Money Shopping Card that they can redeem on almost any product within participating Woolworths Limited stores.

Woolworths CEO Michael Luscombe said that the Woolworths Everyday Money Credit Card rewards scheme will revolutionise the current credit card rewards market by introducing an entirely new level of flexibility, value and choice.

"Our Customers will be able to use their Everyday Money Shopping Card for items ranging from groceries at Woolworths supermarkets, clothing from BIG W, petrol at participating CALTEX WOOLWORTHS co-branded fuel outlets or a bottle of red from Dan Murphy's," Mr Luscombe said.

"Customers want simple, easily achievable and useful rewards. This is one of the many reasons we have taken a fresh approach to credit cards.

"Customers will be able to choose the products that are valuable to them.

"This is about offering our customers real and achievable rewards that can be used for their everyday needs or for something more of a treat," Mr Luscombe said.

Other key features of the new credit card include:

* Competitive 18.99% p.a. interest rate on purchases

* 0% p.a. until February 2009, on all purchases

* No annual fee for the first year

* Low annual fee of $49 after the first year

* No fee for the additional cardholder

* 5.99% p.a interest on balance transfers for 6 months on the first balance transfer

* Contactless Chip and PIN security

* A choice of four fresh colours - Black, Blue, Green and Pink.

UNPRECEDENTED SPEED AND CONVENIENCE

Mr Luscombe said the benefits to customers do not stop with the rewards. "From late 2008, the Woolworths Everyday Money Credit Card will make it significantly easier for customers to track their finances, with cardholders able to check and pay their balance at the supermarket checkout," Mr Luscombe said.

"Cardholders will also be able to track and manage their finances at www.everydaymoney.com.au or speak personally with one of our customer service professionals seven days a week on 1300 10 1234 at our new, dedicated, local Everyday Money Customer Service Centre," he said.

"Customers will also be able to take advantage of PayPass, MasterCard's contactless payment system, which dramatically increases the speed and convenience of transactions.

"Our Everyday Money customers will be able to get back on the road faster with epump. From late 2008, epump will offer Everyday Money customers a quick new way to pay for fuel and redeem fuel saving offers at the pump at participating CALTEX WOOLWORTHS co-branded fuel outlets across Australia," he said.

SECURITY AND TECHNOLOGY

The Woolworths Everyday Money Credit Card also boasts a significantly high level of security through Chip and PIN functionality and other cutting edge security technology.

"We recognise that our customers are increasingly concerned about credit card security," Mr Luscombe said

"The Woolworths Everyday Money Credit Card features EMV chip security and will use Chip and Pin technology. We will be encouraging our customers to switch from signing to PIN entry when shopping to enhance security and save time for customers at the checkout."

GLOBAL PARTNERS

Woolworths' global partners in the credit card are HSBC Bank, which has extensive experience in co-branded retail credit card programs, and MasterCard Worldwide.

"MasterCard provides our customers with the convenience of a globally accepted card scheme that has unsurpassed acceptance at over 27 million acceptance locations around the world" Mr Luscombe said.

"Together with HSBC, we believe are offering a fresh approach to financial services in the Australian market," he added.

CONTINUED FOCUS ON VALUE

Mr Luscombe said Woolworths' key priority is providing the goods and services customers need for their everyday lives at a price that represents good value.

"The Woolworths Everyday Money Credit Card is in line with our existing retail offering and customer value proposition" Mr Luscombe said.

"We will continue to work hard to deliver products to our customers with a focus on exceptional customer service, convenience and value," he said.

ENDS

 

[oz_mark]

And an article from SMH

Woolies' new card will trail shoppers - National - smh.com.au

AN UNPRECEDENTED mountain of data will be amassed by the nation's leading retail company with the launch of a sophisticated credit card that can follow shoppers on their spending trails and be used to entice them to buy more products.

Woolworths' Everyday Money Credit Card is the first in the country to combine a credit card with a sophisticated loyalty program capable of capturing and then sending a shopper's purchasing details back to a central database. The database is linked to the company's recently launched fuel voucher card.

Not sure what the % of spnd you get back is, but the article mentions you get more if you spend on private label items.

 

[moa999]

Fisrt big launch of contactless cards as well (Mastercard PayPass)

--

ANZ is also trialling Visa PayWave pre-pay cards in the Members area at ANZ Stadium (Stadium Australia)

https://your.prepaidcardsupport.net/stadium/index.do

 

[oz_mark]

Point earning:

• 3 points per dollar spent on Woolworths Select products purchased at Woolworths or Safeway Supermarkets, excluding online purchases.
• 2 points per dollar spent on other products purchased at Woolworths or Safeway Supermarkets, BIG W, CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets, epump, Woolworths/Safeway Liquor, **** Smith PowerHouse and participating **** Smith Electronics and Tandy stores. Some exclusions apply.
• 1 point per dollar spent on other purchases.

**** call him Richard Smith. What incredibly stupid software.

Burning


Every 4 months, if you have enough points, we’ll automatically convert them into an Everyday Money Shopping Card and have it sent to you.

Edit:Found it

To get the minimum reward of a $20 shopping voucher you need 3,448 points.

 

[gibspmuh]

To get the minimum reward of a $20 shopping voucher you need 3,448 points.

Not a particuarly attractive conversion rate (though at least it beats the Coles Source Card I guess - but much less attractive than the old Ezy card). No danger of me dropping the Amex or Citibank cards for this anyway!

 

[moa999]

Although at around 1600 pts / $20 voucher for purchases at Woolworths fairly reasonable value (assuming some woolworths select usage)

Not an o/s card - 2% on foreign purchases

Also weird that Woolworths launches its new logo a few days before the card, yet the card carries the old woolworths logo.

 

[Mal]

Woolies Select range is normally up to 50% higher than their other home brand.

In some cases, the product is (most likely) the same. In others, perhaps it has more quality. At the very least it has a much better set of packaging!

I'll be staying very clear of this card - even though I'm a frequent Woolies/other W brands shopper.

I'm sure the Checkout staffers will become annoyed though. Was in Woolies a couple of days ago and got the spiel "Do you have a Woolies Card / Do you want any cash out" (I'm thinking there was a third question in there somewhere as well. I joked with her about the Woolies Fuel card and how useless it was... (and she commented that she had to mention it!)

 

[oz_mark]

I'm sure the Checkout staffers will become annoyed though. Was in Woolies a couple of days ago and got the spiel "Do you have a Woolies Card / Do you want any cash out" (I'm thinking there was a third question in there somewhere as well. I joked with her about the Woolies Fuel card and how useless it was... (and she commented that she had to mention it!)

Like Coles and asking about the FlyBuys card. And I actually am starting to wonder what future that card has, given that promotions seem to have pretty much stopped under the Wesfarmers ownership. But then, maybe they have too many other problems to fix.

 

[Mal]

It's open for applications:

https://www.everydaymoney.com.au

 

[LovemyCC]

Ticks most boxes for me. No points capping, mastercard/visa and no annual fee for the first year sounds good for me. With my citibank card capped already, I couldn't find other offers out there. Offers of "No annual fee for first year" seem to have dried up. Unless someone could enlighten me.

However once annual fee kicks in, I dont know if I'd wanna stay with Woolies.

 

[excite]

Remember the CitiBank BP card also offer no annual fee for the first year, how the BP card compares to this Woolworths one? Any comments?

 

[moa999]

The big one for me is No Interest on purchases until 1 Feb,09 (subject to min payment of about 2% of outstanding balance)

Yes - that is a $15k 4.5 month line of credit for me.

The black card looks quite nice in hand.
Would have been better if they could have printed a barcode for the EverydayRewards card on the back, so you don't have to carry two Woolworths card.

Online website is horrible. Security is stupid.
Login - the last 12 numbers on the card
A six digit password - but they only ask you to enter in certain numbers.
And a secret answer, which is only allowed to be the answer to six or so questions, but they don't actually show you the questions when you login.

 

[medhead]

Remember the CitiBank BP card also offer no annual fee for the first year, how the BP card compares to this Woolworths one? Any comments?

Good question. BP offer 5% off fuel purchases and 1% off other purchases. Including my average annual food and fuel spending I would save $300 per year. minus annual fee = $221.

On the Everyday money card. I'd get about 33000 point per year with a conversion rate $1 of shopping card per 172 points that equals $191. plus 4c/litre = $90. Total $281 minus the annual fee = $232.

For me the Woolies card would be better.

BTW the woolies card does have pseudo points capping as they will issue a maximum shopping card of $1000 = approx 172000 points.

 

[Mal]

They're now offering a free $50 gift card for signing up and making a purchase:

# The bonus $50 shopping card is only available to new primary cardholders who apply between 1 January and 31 March 2009 and who make a purchase on their credit card by 30 April 2009 (excluding **** Smith interest free promotions). Your account must be current and not in arreas. The bonus $50 shopping card offer cannot be used in conjunction with any other bonus offer. Allow up to 8 weeks from date of first purchase on your credit card for receipt of your shopping card.

https://www.everydaymoney.com.au/edm/wps/portal/money

 

[moa999]

Just received my current statement. Payable 2-Feb.
Absolutely no mention that interest free period expires on 1-Feb.

 

[Baysider]

If the quoted 1600 points for $20 is correct the redemption value is about 80 points to the dollar. Being a Brisbanite with in-laws in Perth, I always compare with QFF points redemption BNE-PER rtn. I put this at 36000 points for a $600 airfare, or 60 points to the dollar. Looks like I stick with my fee-free Amex Gold and Citibank Platinum cards at 1 QFF point per $ spent.

 

[Raz]

Is the Woolworths points for freq flyer 1:1.5? I shop heaps my woolies so how is this card ? compared to NAB Gold?