New Woolies C/C rumour

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oz_mark

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Bloomberg has a report that Woolworths is looking at a credit card alliance. Given that they are just calling for interest, wouldn't expect to see a new card anytime soon.

See: Bloomberg.com: Asia

May 21 (Bloomberg) -- Woolworths Ltd., Australia's largest retailer, hired the Kessler Group to seek proposals from banks and other lenders for a credit card alliance, two people with knowledge of the matter said.

Documents for the Kessler-managed tender will be sent to interested parties by the end of the month, according to the people, who declined to be identified as details aren't public. Sydney-based Woolworths has about 2,900 supermarkets, liquor stores, gasoline stations, pubs, electronics outlets and discount department stores.
 

adamonline

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Where does this leave "Woolworths Financial Services" and their relationship with the ANZ. Wouldn't it be a done deal that ANZ would be providing the banking support for any new Woolworths CC?

Or could this be shopping around to see if it is MC, VISA or AMEX who want their name on it? (noting that ANZ don't currently seem to have an AMEX product in their line up)
 

oz_mark

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My understanding is that the relationship with ANZ was not an exclusive one that precluded Woolies from looking elsewhere for specific products.
 

adamonline

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You may be right. I can't find much specific information on the deal and it may not be as extensive as I thought. This SMH article only makes reference to an ATM deal

Woolies creates own ATM network - Business - Business - smh.com.au


Also, for any one who is interested, I happened to use one of those "Cash Connect" ATM's at a pub last week and the receipt said it was operated by ANZ (the pub is owned by Woolworths). I'm now waiting to see if this transaction incurred the usual other bank atm" fee or not.
 

ANstar

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I beleive the new card is due out this year and is done through HSBC
 

ellein

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Woolies credit card is out. Called Everyday Money Credit Card. Annual fee of $49 but they are giving first year free.

Go and visit the woolworths website. I need to do my sum if it is worthwhile to have this card.


For every dollar you spend on your Everyday Money Credit Card, in one of the categories below, you’ll earn the following points:

  • 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)
  • 1 point per dollar spent on other purchases.(2)
Points = shopping cards


The Everyday Money Credit Card rewards you automatically once you have earned enough points. 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. So, you can reward yourself with everything from groceries, to petrol to electronics.

The Everyday Money Shopping Card (3) is redeemable up to its specified value at:

  • all Woolworths and Safeway supermarkets, Woolworths and Safeway Liquor and BIG W stores; and
  • participating CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets, **** Smith Electronics, **** Smith Electronics Powerhouse, Tandy, BWS and Dan Murphy’s stores.
The minimum shopping card value is $20 and the shopping card expires 3 months after the date of issue.
 
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