ANZ Optimum World Mastercard

zoossh

zoossh

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adviseandadvices said:
I think you guys have missed the whole point of the Optimum card totally.

Nobody should use this card for 1% rebate. You should only use this card for the 5% category.

Hence, your monthly points balance should be ending with a point 0 or point 5 e.g. xxx.0 or xxx.5.

If you keep track, you can ensure that it ends with .0 so you won't lose any points. Even if you are too lazy to keep track, you will lose 0.5 only, which is 50cents.

So the main point of this card is, make full use of it in the 5% category. DO NOT USE IT as a 1% card.
Click to expand...

i dun think the main point is being missed. even if used with 5% category, the per $10 counting and rounding off of points lead to big losses, potentially leading to 0% category, esp in groceries and other medium-to-low price stuff, and neither is it useful for big tickets due to cap per transaction.
 
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adviseandadvices

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zoossh said:
i dun think the main point is being missed. even if used with 5% category, the per $10 counting and rounding off of points lead to big losses, potentially leading to 0% category, esp in groceries and other medium-to-low price stuff, and neither is it useful for big tickets due to cap per transaction.
Click to expand...

It's the same with UOB and DBS which award points for every $5 spent.

Anyway I calculated. The loss isn't that great. Ultimately, you still get above 3% for some category like dining. Which is pretty good those who don't use OCBC 365.
 
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keniphone

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New statement coming.
Yes another happy month.
m73sc3.jpg
 
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chopra

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Do you all agree that this is by far the most difficult card to track rebate? The poor ibanking makes things worse
 
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awleong

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gravityz3r0 said:
EVERYTHING WILL BE ROUNDED DOWN. Bank won't be so stupid to round it up for you lol. And i highly doubt that the daily Optimum $ is cumulative of your transaction of that day (assuming they are all posted on same day).

Meaning you can't do a multiple $5 transaction and accumulate it to be eligible for the Optimum$ award. Every transaction is treated individually, so even if you make ten $5 transaction in a day, you get no rebate at all. In another word, minimum spend is $10 and subsequently in multiple block of $10.

So to recap with an example:

$100 (qualified) - O$5.0
$10 (qualified) - O$0.5
$19 (qualified) - O$0.5
$5 (qualified) - O$0
$10 (non qualified) - O$0.1
$19 (non qualified) = O$0.1
$5 (non qualified) - O$0

Total Rebate : O$6 (rounded down from O$6.2 at end of statement month)
Correct me if i'm wrong.

10. Optimum$ will be computed and accumulated daily. Optimum$ will be computed based on transaction
posting date and will be rounded down to the nearest 0.1 Optimum$. The maximum amount of Optimum$
that may be awarded for a Retail Spend shall be 30 Optimum$.
11. The accumulation of the Optimum$ will be rounded down to the nearest 1 Optimum$ on each Card
statement date. There is no limit to the total Optimum$ accumulated and no limit on the number of
transactions that can be made, for each statement cycle.
Click to expand...

This calculation is wrong.. the Optimum$ for $19 (qualified) should be 0.9 rounded down to nearest 0.1 for that day. Same for $5 (qualified), it should be 0.2

The non qualified ones are correct though..
 
more3cm

more3cm

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awleong said:
This calculation is wrong.. the Optimum$ for $19 (qualified) should be 0.9 rounded down to nearest 0.1 for that day. Same for $5 (qualified), it should be 0.2

The non qualified ones are correct though..
Click to expand...

You are wrong and gravityz3r0 is correct. Qualified rebates are awarded in quantum of O$0.5, after rounding down to the nearest $10 spent. Very clear in the t&c
 
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awleong

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more3cm said:
You are wrong and gravityz3r0 is correct. Qualified rebates are awarded in quantum of O$0.5, after rounding down to the nearest $10 spent. Very clear in the t&c
Click to expand...
My latest statement shows that the rebates are rounded down to the nearest 0.1 even for less than $10 purchases.. Up to u guys to believe I guess... I'm just trying to share the info.. =)

Sent from HTC One_M8 using GAGT
 
T

Trazora

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awleong said:
My latest statement shows that the rebates are rounded down to the nearest 0.1 even for less than $10 purchases.. Up to u guys to believe I guess... I'm just trying to share the info.. =)

Sent from HTC One_M8 using GAGT
Click to expand...

Did u spend more than $10 in the day? Understand from tnc the rebate is calculated for daily spending not by individual transaction
 
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awleong

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Trazora said:
Did u spend more than $10 in the day? Understand from tnc the rebate is calculated for daily spending not by individual transaction
Click to expand...
I got quite a number of days with only 1 spending that is less than $10 so I know from the total Optimum$ awarded, the rounding down to 0.1 daily definitely applies to less than $10 purchases

Sent from HTC One_M8 using GAGT
 
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