WOOLWOTHS EZY MASTERCARD. IS THIS ANY GOOD?

[Nutcase]

I have just read about citi bank increasing the fees on foreign currency transactions to 3.3% (ish) and was thinking about a new Credit card. (Dont panic, I already have the AMEX rewards maximiser)

I came across the Woolworths EZY Banking mastercard which looks pretty good.

The annual fee is $39 and an additional card is free! The conversion rate to Qantas is 1:1.

This all seems a bit to good to be true.

Do any of you have one of these cards, and if so, are they any good?

Looking forward to your replies

NC :idea:

 

[Big_spender]

I have one of these cards. Have had it for the last two years. They are very good. Great service from 8am-8pm. Have increased credit limits a number of times.

Whilst they say there is no maximum credit limit, there is a hidden credit limit of $20,000. Once you get to this level, they make it difficult to get the limit higher without providing lots of paperwork and going to a branch to obtain a 'recommendation'. But if you're happy with a credit limit of $20,000 or less then they are a good card.

 

[Guest]

I can't fault this card, would definately recommend, I have a credit card with almost every financial institution in OZ and I use this one most of the time unless i go overseas. To get a larger credit limit i usually use only one card and spend thousands of dollars for a number of months until they give me a large limit then I move to another card and do the same. Its best to ring the bank every week on the off-chance the banks computer selects you for a limit increase. The bank has a floating amount of credit available and if no one is using it then they could make it available to you should you ask. They may not inform you that you are eligible for an increase. Doing it this way saves having to apply in writing and no credit searches are done as it is based on your spending habits.

 

[bambbbam2]

Actually, according to:
http://www.cannex.com.au/surveys.html Then click on Credit Cards

there is no max on this card. Are you saying that Cannex is incorrect?

 

[johnsmith]

You could always apply for a commonwealth bank credit card and woolworths ezy card then combine the 2 cards into one ezy card thus creating a larger credit limit.

 

[Sheriff]

Woolworths Ezy Mastercard credit limit.

I have a Woolworths Ezy Mastercard and can confirm that Cannex is correct in that there is no credit limit.

I applied for Woolworths Ezy Mastercard requesting a $75,000.00 credit limit and was approved $80,000.00

Following that I applied for a credit limit increase from $80,000.00 to $90,000.00 which was approved within two weeks.

Recently(two days ago) I applied for another credit limit increase from $90,000.00 to $100,000.00, which I expect they'll approve.

Sheriff

 

[NM]

Re: Woolworths Ezy Mastercard credit limit.

Recently(two days ago) I applied for another credit limit increase from $90,000.00 to $100,000.00, which I expect they'll approve.

No wonder the Reserve Bank is so worried about the amount of personal debt in Australia :roll: :roll: :roll: .

 

[Sheriff]

Woolworths Ezy Mastercard credit limit

Hi NM,

I just wanted to let you know that I am debt free.

Everything I have I own, including two significant properties located in Sydney.I am mortage free, and unlike you, I hold the Certificate Of Title for the properties, not the bank.

I have a $30,000.00 Virgin Blue credit card, a $25,000.00 David Jones store card,a $25,000.00 Amex Gold and a $90,000.00, probably $100,000.00, Woolworths Ezy Mastercard.

All credit card balances are paid in full at the end of each and every month so as not to incur any interest.I have never paid any interest on any of my credit cards.

I don't think anyone,including you, on this forum can boast this!

We need more hard working Aussies like me.

Sheriff

 

[johnsmith]

Re: Woolworths Ezy Mastercard credit limit

Hi NM,

I just wanted to let you know that I am debt free.

Everything I have I own, including two significant properties located in Sydney.I am mortage free, and unlike you, I hold the Certificate Of Title for the properties, not the bank.

I have a $30,000.00 Virgin Blue credit card, a $25,000.00 David Jones store card,a $25,000.00 Amex Gold and a $90,000.00, probably $100,000.00, Woolworths Ezy Mastercard.

All credit card balances are paid in full at the end of each and every month so as not to incur any interest.I have never paid any interest on any of my credit cards.

I don't think anyone,including you, on this forum can boast this!

We need more hard working Aussies like me.

Sheriff

 

[Sheriff]

Woolworths Ezy Mastercard

Hi johnsmith,

If you're happy with 1.1% return, thats fine. Personally, I wouldn't be happy with that sort of return.

Surely you would receive a higher net return on your funds if you invested the money in the stock market.

Sheriff

 

[johnsmith]

Re: Woolworths Ezy Mastercard

Hi johnsmith,

If you're happy with 1.1% return, thats fine. Personally, I wouldn't be happy with that sort of return.

Surely you would receive a higher net return on your funds if you invested the money in the stock market.

Sheriff

It is a poor return but its not my money and I am only on minimum wage so I could not afford to take the chance of losing otherwise Amex will send their Goons around to duff me up

 

[NM]

Re: Woolworths Ezy Mastercard credit limit

Hi NM,

I just wanted to let you know that I am debt free.

Congratulations

Everything I have I own, including two significant properties located in Sydney.I am mortage free, and unlike you, I hold the Certificate Of Title for the properties, not the bank.

I am sorry to hear you have property in Sydney. I am also happy to hear you are "mortage free", whatever a mortage is?? Is that some sort of disease?

How would you know anything about my personal financial circumstances and who holds the Certificates Of Title for my properties?

I have a $30,000.00 Virgin Blue credit card, a $25,000.00 David Jones store card,a $25,000.00 Amex Gold and a $90,000.00, probably $100,000.00, Woolworths Ezy Mastercard.

I am impressed :roll: (or at least I am guessing that I am supposed to be)

All credit card balances are paid in full at the end of each and every month so as not to incur any interest.I have never paid any interest on any of my credit cards.

I don't think anyone,including you, on this forum can boast this!

Again, how would know anything about my credit card payments? Or how much interest I pay on my cards? If you do know this information, then it seem that there has been a breach of some privacy laws somewhere along the line, and someone has provided you some very misleading (if not blatantly incorrect) information about my personal finances. Or are you just assuming that we are not all as diligent as you when it comes to financial boasts?

We need more hard working Aussies like me.

I'll be sure to remember that and will try to work harder in the future.

Note: paying off a credit card in full each month does not remove it from the statistical analysis undertaken by the RBA when they determine the nations level of personal debt. The stats are an average level over a month, and for 30 out of 31 days in a month the diligent CC payer may still have a debt balance owing. Just because it is paid off before interest is paid does not remove the card and its transactions from the statistics. My comment was about how the use of credit cards for very large transactions (as assumed by your need for very large credit limits) affects the statistics, not about what may or may not be your personal amount of debt.

 

[QF WP]

NM, a pearler of an answer :!: .

Seems that some peope have a need to tell everybody how much they own and what their credit limits are (assuming we want or need to know).

Others quietly go about their daily life :wink:

 

[observer]

Just like other sad people have some inner need to impress with all their FF qualifications.
Thanks, Sheriff, for your useful info re the ezycard, and for sticking on the topic.There are some very sensitive little egos out there.....

 

[scibo10]

Hey Nutcase,

I have recently got this card and have found it very beneficial.
I have a CA Amex card, which I think is the best card going around the market (but not open to the gen public), but for places where Amex is not accepted, this card comes in a treat, especially on large purchases.
It is extremely hard nowadyas to find cards offering 1:1 conversion that have annual fees of under $100 (including rewards fees), so this card is great value for money.

Being a CBA customer, an advantage I have found is also being able to link this card with Netbank. As such, in the rare times I need cash immediately, I can cash advance money from the card into my debit bank account with the CBA, with the funds available instantly. Also, payment of the card is very easy, with just a money transfer required, and not needing to use BPay, and obtaining biller codes etc.

Regards
Daniel

 

[duffshot]

Just like other sad people have some inner need to impress with all their FF qualifications

While I understand where you are coming from Observer, the fact is that this is the "Frequent Flyer" forum and while I don't go sprouting my status levels, I can understand why some might and it's probably appropriate.

Sheriff on the otherhand seems to think it is the "I'm richer than you - nah nah na nah nah" forum. :roll:

 

[markis10]

Frequent Flyer status is a measure of the amount of travel someone has done and hence their creditability when it comes to giving advice and tips on these pages. It is also to a certain extent a measure of how much time they have spent away from their loved ones earning the experience that others benefit by.

Credit limits on the other hand are an indication of the possible damage those loved ones can do to your financial health when shopping while you are away :shock:

 

[Sheriff]

Woolworths Ezy MasterCard

I received written confirmation today advising me that my request for a $10,000.00 increase in my credit limit from $90,000.00 to $100,000.00 on my Woolworths Ezy MasterCard has been approved, and that a new credit line of $100,000.00 is now available for use. An interesting point to note here is that the application was approved without the need to provide documents to verify the financial details provided on the application form.

It's that Ezy !

This is further proof that there no maximum credit limit or hidden credit limit of $20,000.00 as previously discussed.However for new applicants there is a generally prescribed introductory credit limit of between $5,000.00 to $15,000.00, but for well established clients with a good credit history, the sky's the limit !

Who needs Platinum ?

Sheriff

 

[straitman]

Re: Woolworths Ezy MasterCard

I received written confirmation today advising me that my request for a $10,000.00 increase in my credit limit from $90,000.00 to $100,000.00 on my Woolworths Ezy MasterCard has been approved, and that a new credit line of $100,000.00 is now available for use. An interesting point to note here is that the application was approved without the need to provide documents to verify the financial details provided on the application form.

It's that Ezy !

This is further proof that there no maximum credit limit or hidden credit limit of $20,000.00 as previously discussed.However for new applicants there is a generally prescribed introductory credit limit of between $5,000.00 to $15,000.00, but for well established clients with a good credit history, the sky's the limit !

Who needs Platinum ?

Sheriff

SO WHAT :?:

This particular forum is about the benefits or otherwise of the Woolworths Ezy MasterCard :!:

It's not really any concern to anyone here whether you have a $2 or $2,000,000 relationship with you bank or credit provider. :evil: :twisted: :roll: :x :shock:

I'm really quite sad for you :!:

 

[johnsmith]

Re: Woolworths Ezy MasterCard

I received written confirmation today advising me that my request for a $10,000.00 increase in my credit limit from $90,000.00 to $100,000.00 on my Woolworths Ezy MasterCard has been approved, and that a new credit line of $100,000.00 is now available for use. An interesting point to note here is that the application was approved without the need to provide documents to verify the financial details provided on the application form.

It's that Ezy !

This is further proof that there no maximum credit limit or hidden credit limit of $20,000.00 as previously discussed.However for new applicants there is a generally prescribed introductory credit limit of between $5,000.00 to $15,000.00, but for well established clients with a good credit history, the sky's the limit !

Who needs Platinum ?

Sheriff

SO WHAT :?:

This particular forum is about the benefits or otherwise of the Woolworths Ezy MasterCard :!:

It's not really any concern to anyone here whether you have a $2 or $2,000,000 relationship with you bank or credit provider. :evil: :twisted: :roll: :x :shock:

I'm really quite sad for you :!:

I do not think this person is boasting about his credit limit, We don't know him so what could he possibly get from boasting. He was just showing that you can get a higher credit limit than 20,000.