My earning rate has HALVED! How dare they?

[rechoboam]

I first got an ANZ platinum Visa/AMEX in April 2010. Admittedly I don't remember all the details but I earned at least 1 point per dollar on the Visa (I thought it was 1.25 but after some research, probably not). Speaking to someone with a new product today he told me that I only get .5 points per dollar - I didn't believe him. But he is correct. My earning rate halved at some point and I never knew!

I should have been checking but until the fee came down I paid my tax - my main expense - on my Amex. Paying on Visa at .4% I don't think it's worth it.

What would you do?

 

[DeKa]

I'd say it changed years ago (when the partner AMEX came out)
Switch to Everyday Rewards Mastercard
https://www.everydayrewards.com.au/...SmtFL1o2X0cxN0I0RDU0MDhUNDIwSTFKSE5PSkczMEc0/

 

[Moopere]

+1 for the EDR CC, but be careful if you pay largeish tax bills with it as others here have had their cards cancelled because of "business use"

Otherwise, one of the high end Citi cards is likely to earn 1 or 1.5c/$ although dealing with Citi is its own challenge.

 

[medhead]

I got rid of ANZ a couple of years ago when they halved the earn rate. Pretty sad since I'd had that card since about 1993. But I can't even remember what card it was other than it probably wasn't a platinum one.


Sent from the Throne

 

[rechoboam]

it was definitely a point for dollar when I got it...or at least when I read the paperwork which I guess may have been as early as 2009

I only checked because an associate is coming up with their own card via their finance company and I said, "no I get better than that earn rate..."

Well - I don't.

OK will get an EDR, luckily or unluckily my one-person business probably won't set any alarms off, and if it does I will try something else. I HATE dealing with unresponsive big companies and Citi sound like a nightmare, plus they were mean to a friend 10 years ago so they are out.

Thanks for the advice...medhead do you remember when they halved the rate for you?

 

[DontGetMeStarted]

I'm in a similar situation and spent some time with ANZ on the phone today asking why they are not looking after their long term cardholders. I have been with them since 1991 and want a better earn rate than 0.5 for Visa and 1for 1 on Amex plat card Believe new cardholders have better offers and bonus points Have applied for the QSCU card and HBC card, so my days with ANZ might be numbered. Just need to check the overseas travel insurance terms

 

[medhead]

I really can't remember maybe around 2009. There was a pretty big thread about it here at the time. I know at the time that some people kept the same earn rate and some got moved to a lower rate.


Sent from the Throne

 

[bickers]

I only just found that mine had halved recently as well. They must have snuck it through pretty quietly. 2 points per spend on Amex still though

 

[cove]

One letter is all they need to send and they don't need to put it in the fine print as most recipients "skim read" then bin the letter. After that it is just history. I binned my ANZ cards when they reduced their points earning rates.

 

[markis10]

I really can't remember maybe around 2009. There was a pretty big thread about it here at the time. I know at the time that some people kept the same earn rate and some got moved to a lower rate.


Sent from the Throne

Oct 2009. http://www.australianfrequentflyer....ard-rewards/anz-changes-19888.html#post270423

 

[medhead]

Oct 2009. http://www.australianfrequentflyer....ard-rewards/anz-changes-19888.html#post270423

You're a legend, thanks for tracking that down, forgive my poor memory and laziness.


Sent from the Throne

 

[ricee007]

And this is why I use the JetStar Platinum Mastercard instead of the ANZ cards that I have been leaving at home for ages!

 

[rechoboam]

And this is why I use the JetStar Platinum Mastercard instead of the ANZ cards that I have been leaving at home for ages!

Aren't you paying fees on the Anz card?

I am taking the dramatic step of having one card only (and no amex) Apparently I can name other "card holders" to separate my business and personal statements.

 

[zig]

My earning was also cut when the co-branded Amex was introduced. I rang to cancel the card and was asked why I was cancelling. I explained the sole reason was the reduction in earn rate on the Visa, and that I had a 'real' Amex so wasn't interested in their Amex card. Anyway they reinstated my old earn rate of 1:1 which I still earn today.

 

[ricee007]

rechoboam, I paid them in February or so. Stopped using in March or so. I wasn't earning an (almost) full time wage till March, so I wasn't really able to get a 'better' credit card til I was. WHen I could get a better credit card (see, eg, Platinum Mastercard)... I stopped using the ANZ and will cancel in January next year .

Thought about cancelling now, but, a few reasons have made me decide not to. First of all, it would be nice to have a 'spare' card, esp. when travelling (going to Greece/Turkey/London/Paris) in September.