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CBA and Woolworths EzyBanking "parting ways"

Discussion in 'Commonwealth Bank Rewards' started by beardoc, Jan 12, 2006.

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  1. beardoc

    beardoc Established Member

    Jul 13, 2005
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    I just noticed this on http://www.infochoice.com.au/banking/news/creditcards/05/12/article14169.asp

    This is a worry, because it might mean the end of the generous 1:1 point conversion for the Woolworths EzyBanking Mastercard.

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  2. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    I have long had my doubts about either sides commitment to EzyBanking. But will be interesting to see what path they take with it, although the article seems a bit inconsistant - there's the bit about partnering with another bank, and then ther's the bit about being a non bank getting a credit card license.

    I guess they could set up there own finance arm. Seems to be a strategy that has worked for David Jones.
     


  3. beardoc

    beardoc Established Member

    Jul 13, 2005
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    I'm not really worried about where they happen to partner - what I'm worried about is the potential loss of the 1 QFF point per $1 spent, which is so rare with a Mastercard/Visa these days in a form that doesn't require enormous annual fees or very high income requirements.
     
  4. oz_mark

    oz_mark Enthusiast

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    It will probably depend on what sort of leverage Woolies has over its next partner, and how much business they propose would be created out of the partnership. But I can see how you would be concerned about the future of the conversion rate.
     
  5. one9

    one9 Active Member

    Sep 14, 2005
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    what will happen to existing cards? I have recently applied for the card as the Platinum CBA cards now has points capping. I received my PIN in the mail today, so should get my card in the next day or two. Hopefully Woolworths wont end the card too soon.
     


  6. beardoc

    beardoc Established Member

    Jul 13, 2005
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    I think it's the case that we don't have any further information at this point. It is a concern that they might introduce points capping, but I guess that we just have to wait and see, and use it whilst we can.
     
  7. JamesF

    JamesF Intern

    Apr 15, 2005
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    SYD
    Hi all,

    just went to check the ezybanking website and couldnt find anywhere to sign up for this card. All the points transfer details have disappeared too. Has this card been discontinued for good? have been offline for a few weeks so maybe missed something?

    fingers crossed it still exists as it's a great deal.

    cheers
    james
     
  8. serfty

    Moderator

    Nov 16, 2004
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    Something is quetly happeing here. See this thread: Something is afoot .... :-|
     
  9. Maca44

    Maca44 Established Member

    Sep 2, 2005
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    I heard the rumour some months ago that CBA and Ezy Banking were parting company, but nothing in the media or elsewhere since that time.

    To transfer points to QF (and I did it today) you telephone them and the points are t/f to QF within two days. I have had the Ezy card for 6 mths, only as a backup when merchants don't accept AMEX, but have recently received a wizard mastercard as a secondary backup for cash advances when in overseas..no annual fee and great rates etc so its not costing me anything to have it. Be warned though, there is another thread where someone was having trouble with obtaining cash advances in Sth America as the card was blocked and I think was was because they did not complete and send back a "identification Reference Form" when they received the card in the first instance.
     
  10. serfty

    Moderator

    Nov 16, 2004
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    ANZ in the Mix?

    Not sure how relevant this will prove to be, but I was in my 'home' Safeway (Victorian "Woollies") last evening and noticed an area outside the cash registers with a large Sticker (~1 sq. Metre) on the floor.

    Can't recall the exact working but it was something like:
    :?:

    This leads to all sorts of possibilities ... or none! :-|
     
  11. JamesF

    JamesF Intern

    Apr 15, 2005
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    Hmm interesting serfty... I havent seen the ANZ promos up here yet, but maybe, as you say, it might lead to something. Although it'd seem strange for ANZ to do something which might take potential business away from the Qantas FF visa.

    Will keep our eyes open. I'm sure if anything new comes up, AFF will be the first place we'll read about it :)

    cheers

    James
     
  12. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    There was an article in The Australian this morning that mentions the issue in passing. The focus of the article was on other things, so not much detail.

    Luscombe wasn't going to be left on the shelf

    .
     
  13. Philip76

    Philip76 Junior Member

    Jun 6, 2006
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    I thought that 1:1 ratio disappeared over a year ago when it disappeared for the other cards. Didn't it? I transferred a heap to Qantas before then so that I didn't lose half their value.

    If it's still 1:1 I'd better transfer another bunch of them now.
     
  14. serfty

    Moderator

    Nov 16, 2004
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    Still at 1:1, here is a web page with that information:

    Ezy Rewards. Note you can no longer access this from the EzyBanking home page.

    You need a minimum of 3,600 Ezy Rewards points to do the transfer.
     
  15. Philip76

    Philip76 Junior Member

    Jun 6, 2006
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    Thanks for that. I've just transferred a stack to QF in case Ezybanking goes bye bye without leaving an option to transfer.
     
  16. openseat

    openseat Active Member

    Jun 1, 2006
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    Just to add confusion.....

    I received last week a letter offering to increase my credit limit. I also had my card renewed. So it seems to be still functioning well.
    However, my card magically appeared in my netbank access page.
     
  17. akumaslair

    akumaslair Junior Member

    Mar 4, 2004
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    EZY MAster card RIP!!!

    THe deadline according to everyone and that letter is tomorrow 6th OCt 2006, so I call up just a few minutes ago and ask to transfer the remanining points...

    I get told I have 7500 points which is the same number of points on my last statement as of 8th of September, I say WTF, how come my points haven't been upgraded, response by the turkey was maybe call back tomorrow, I say 'well if they haven't upgraded for the last 28 days or so, what are the chances of it upgrading tomorrow??' she says "we are doing an upgrade tomorrow". Frankly I think this is BS, so I have asked for as superviosr, and was told that he/she will call me back....... still waiting

    IS anyone else having the same experience, I have been busy earning 15,000 points in hte past month as a final effort.......

    gonna be very peeved if this doesn't work.......
     
  18. Sheriff

    Sheriff Member

    May 22, 2005
    167
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    I have finally managed to convince the CBA to waive the $200 Platinum MasterCard fee.Today, I received a letter from the CBA confirming the annual fee waiver.The letter says

    "Thankyou for taking the time to speak to us regarding your CBA Mastercard Ezy Credit Card- your request is easy to arrange.

    We confirm you have requested a Mastercard Platinum, with a credit limit of $100,000.This is easy to arrange: Simply sign and date the form included and return in the reply paid envelope or fax the form to us on ...

    Please read the Acknowledgment and Consent in this letter before signing........

    When the annual fee becomes next due on your MasterCard Platinum, it will be waived for 12 months.

    Consent

    Yes, I would like to transfer my Ezy MasterCard account number ...., to a new MasterCard Platinum with a credit limit of $100,000.

    Thank you again for choosing to stay with the CBA........."

    A very polite Customer Service Representative from the CBA also rang to advise that the next annual fee on my new Platinum Mastercard will be due October 2008. He also suggested to call back then to discuss a possible further annual fee waiver.:lol: :lol: :lol:

    So, bye-bye Ezy MasterCard , hello Platinum Mastercard.

    Thank you CBA , much appreciated.

    Cheers
    Sheriff

     
  19. JohnK

    JohnK Veteran Member

    Mar 22, 2005
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    I guess it is everyone for themselves, but do you think they waived the annual fee because of the very high credit limit or your persistence?
     
  20. Sheriff

    Sheriff Member

    May 22, 2005
    167
    3
    Neither.

    The credit limit on my Ezy MasterCard is $100,000. The CBA will simply transfer the existing credit limit over to the new Platinum MasterCard. Ezy

    Persistence is good, but persuasion is the key. To persuade the bank to give you a credit card fee waiver you must be able to:

    1. Provide good reason(s) to justify a credit card fee waiver.
    2 Demonstrate a good business relationship with bank for many years.
    3. Demonstrate your loyalty to the bank for many years.
    4. Demonstrate a good credit repayment history.

    By the way, CBA fully refunded my Ezy MasterCard annual fee too.:)

    Good Luck!

    Cheers
    Sheriff
     
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