ANZ Optimum World Mastercard

[hwmook]

no i misunderstood min $10 per transaction. you can still charge less than $10, so long as the sum of all transactions within the same day is > $10. well, i may not be a big spender, most of my credit card transactions (95-98%?) are >$10. so no impact to me. but too bad for those kahcang puteh spenders.


how to interpret this?
if one charged $5, the rightful rebate is 1% of $5 which is 0.05 Optimum$. but what is the nearest 0.1 of 0.05? is it 0.1 or 0?

in the same light, a transaction amount of $19 will get a rebate of 0.2 or 0.1?

You again miss out the key words, "round down". $5 no rebate, $19.99 also same rebate as $10. I haven't use a cash rebate card which does not give rebate to the closest cent but instead to the closest 10c. Might as well use ANZ travel for the generic spend, as least you are given per dollar not per $10.

 

[dlrowehtleah]

i don't have anz travel so that's out of the equation. as i also stated in my previous post, this card was (auto?) converted from my anz personal master card (the lowest grade card, so to speak) somewhere in jan'15.

since i've no problem spending >$10 on each transaction, so it is still not too bad a card for generic spending barring the fact that it always round down the rebate. and yes, the picking of rebate categories can be a real pain in the neck. having said so much, this is definitely not a card for kachang puteh spender and if you don't already have this card. don't waste your time.

in any case, this isn't my main spending card. i'm currently focusing on the amex imagine and uob one. the reason why i'm still bother to discuss is because of the fact that i'm already holding this card. so it doesn't hurt to understand the card better, and maximize it to my advantage.

if it matters, i'm not a mileage *****.

 

[winguy]

This was not answered in the tax payment thread.

Can use optimum for tax payment? 1% rebate (roundoff), 0.7% fee?

 

[edmunk]

does travel includes airbnb? Anyone has any clue? Im getting my card this week therefore i would like to make clear with this first.

 

[zoossh]

I called and cso say cannot tell me if v**ch*r can be used for optimum grocery. Ask me to apply, use and wait for statement. Lol. How come so lousy one?

 

[purpletoysmum]

I called and cso say cannot tell me if ntuc voucher can be used for optimum grocery. Ask me to apply, use and wait for statement. Lol. How come so lousy one?

You give them ideas.....they are going to see what they can do to tighten up that little lobang.

 

[beri stupid idiot]

Zoosh arh ... weeps

 

[beri stupid idiot]

i don't have anz travel so that's out of the equation. as i also stated in my previous post, this card was (auto?) converted from my anz personal master card (the lowest grade card, so to speak) somewhere in jan'15.

since i've no problem spending >$10 on each transaction, so it is still not too bad a card for generic spending barring the fact that it always round down the rebate. and yes, the picking of rebate categories can be a real pain in the neck. having said so much, this is definitely not a card for kachang puteh spender and if you don't already have this card. don't waste your time.

in any case, this isn't my main spending card. i'm currently focusing on the amex imagine and uob one. the reason why i'm still bother to discuss is because of the fact that i'm already holding this card. so it doesn't hurt to understand the card better, and maximize it to my advantage.

if it matters, i'm not a mileage *****.

Most mile cards are also point earning cards eg dbs uob and ocbc u can exchange for alot of other rewards, i keep to a range of cards to maximise my rebates

Maybank plat visa is my daily spend card

Of course keeping to a pool of cards will result in difficulty reaching the lowest barrier to redeem a 10 worth v or cash ... to each his own ...

** $ or miles i do both

 

[zoossh]

Zoosh arh ... weeps

ok, would be more careful...

but lucky, that cso sounds more stewpid than mee. so should be ok. she went on and on about must wait for merchant code blah blah blah and she cant rem which merchant i tok abt. heng siah. but pls dun ask me her nationality. ish the usual wan.

 

[beri stupid idiot]

Its true i am the beri stupid cso who answer ur call.

I think things tried and tested can already ... u know i know we know just dun be too explicit ... i still need the 5 percent to buy snacks to eat at IMH for supper de wor ~

 

[kkerdii]

ANZ Optimum Card is really not as good as you think

First of all, it is not really a "cash rebate" card.
I perceive a "cash rebate" card should be giving you cash rebate automatically on a monthly basis.
ANZ Optimum card, on the other hand, gives you reward points, and you can only convert it manually to cash rebate when you accumulate $50 worth of so-called Optimum$.

Now, the down-side of this card:

1. category "Shopping" ONLY works for merchants in fashion industry. Pretty different from what we perceive "Shopping" is, huh.

2. The cash rebate is only earned per $10 spent. i.e. if you spend $39.90 in a transaction, only the first $30 counts.

3. The "category" you have chosen does NOT automatically roll-over, i.e. if you forget to submit a new category before the beginning of next quarter, you are screwed.

4. The total Optimum$ you can earn in a month is also rounded down. So if you spend hard and earned 0.9 Optimum$ in that month, sorry, you get nothing.

5. The maximum Optimum$ you can earn in EACH transaction is 30. So if you choose travel and think you can earn all 5% of your $1000 plane ticket to Europe, you are wrong. If you think you can earn all 5% of your new $2000 LV purse, you are wrong again. Capped at $30, end of story.
(if you are going to spend more than $600 in one transaction, ask the sales lady nicely to see if she lets you split the amount and swipe your Optimum card twice. I wonder if this would work)

Let's look at a somewhat extreme example:
If you spend this much in a month and you chose "Shopping" :
Popular book 19.90
Meal 28.00
Challenger 39.00
ezlink topup 30.00
Total $116.90

The Optimum$ you will get for each transaction above is 0.1, 0.2, 0.3, 0.3.
Total Optimum$ = ZERO.

Remember? They round DOWN. And shopping in Challenger and Popular does not count as Shopping.

If you have used says Frank card for the above transaction, at least you would get about 40 cents back. Automatically and guaranteed.

And even if you spent a little more and earned a good 20 odd Optimum$, don't forget that you still need to get another 20+ Optimum$ to finally earn your cash rebate back.

Verdict: It will probably still be useful for those who spend a couple hundred per month in dining OR clothes shopping. But if you are looking for better cash rebate in Flight and Hotel you book online, Use OCBC Frank + BOC Shop! card instead. I do not do much groceries shopping, but I think there are better choices on the market, such as Citibank SMRT card or OCBC Plus Card.

On a side note, ANZ does not provide internet banking service for credit card users, nor is its Phone Banking any useful. I once tried to change my phone pin, and I gave up after 15 mins playing in the system.

I am cancelling my Optimum card as soon as I received and converted and spent its 88 Optimum$ welcome rewards.

 

[beri stupid idiot]

please cancel : )

kiwi bank remembers past applicants very dearly

 

[hyperbole]

Let's look at a somewhat extreme example:
If you spend this much in a month and you chose "Shopping" :
Popular book 19.90
Meal 28.00
Challenger 39.00
ezlink topup 30.00
Total $116.90

The Optimum$ you will get for each transaction above is 0.1, 0.2, 0.3, 0.3.
Total Optimum$ = ZERO.

i'm a bit confused by this example. wouldn't the optimum$ you get be 0.9 instead of zero?

 

[zeledfx]

i'm a bit confused by this example. wouldn't the optimum$ you get be 0.9 instead of zero?

i think what he meant is everything is rounded down at the end of the month, i already discuss this in the other thread heavily, try to limit yr purchase to min 100 if it is a 1% rebate. easier to caculate, if it is a 5 % rebate cap to 600 max

 

[winguy]

Different people, different lifestyle, different cards for different purposes.

For me, optimum card is good for dining, effectively getting about 4%.

 

[Shutterwhale]

Different people, different lifestyle, different cards for different purposes.

For me, optimum card is good for dining, effectively getting about 4%.

I agree! Since restaurants in hotels generally do not have a F&B merchant code, optimum will still give you up to 5% rebate on these expenditures (since hotel is included as a bonus category).

 

[Polar Bear King]

i'm a bit confused by this example. wouldn't the optimum$ you get be 0.9 instead of zero?

I thought $0.9 too.
Has anyone received stmt? Is it all optimum$ each month round down to dollar?

 

[arctician]

i don like this card too..too much work and hassle on e 3M rollover thingy

just use uob one

 

[beri stupid idiot]

I prefer maybank plat vis for normal spend

 

[keniphone]

First of all, it is not really a "cash rebate" card.
I perceive a "cash rebate" card should be giving you cash rebate automatically on a monthly basis.
ANZ Optimum card, on the other hand, gives you reward points, and you can only convert it manually to cash rebate when you accumulate $50 worth of so-called Optimum$.

Now, the down-side of this card:

1. category "Shopping" ONLY works for merchants in fashion industry. Pretty different from what we perceive "Shopping" is, huh.

2. The cash rebate is only earned per $10 spent. i.e. if you spend $39.90 in a transaction, only the first $30 counts.

3. The "category" you have chosen does NOT automatically roll-over, i.e. if you forget to submit a new category before the beginning of next quarter, you are screwed.

4. The total Optimum$ you can earn in a month is also rounded down. So if you spend hard and earned 0.9 Optimum$ in that month, sorry, you get nothing.

5. The maximum Optimum$ you can earn in EACH transaction is 30. So if you choose travel and think you can earn all 5% of your $1000 plane ticket to Europe, you are wrong. If you think you can earn all 5% of your new $2000 LV purse, you are wrong again. Capped at $30, end of story.
(if you are going to spend more than $600 in one transaction, ask the sales lady nicely to see if she lets you split the amount and swipe your Optimum card twice. I wonder if this would work)

Let's look at a somewhat extreme example:
If you spend this much in a month and you chose "Shopping" :
Popular book 19.90
Meal 28.00
Challenger 39.00
ezlink topup 30.00
Total $116.90

The Optimum$ you will get for each transaction above is 0.1, 0.2, 0.3, 0.3.
Total Optimum$ = ZERO.

Remember? They round DOWN. And shopping in Challenger and Popular does not count as Shopping.

If you have used says Frank card for the above transaction, at least you would get about 40 cents back. Automatically and guaranteed.

And even if you spent a little more and earned a good 20 odd Optimum$, don't forget that you still need to get another 20+ Optimum$ to finally earn your cash rebate back.

Verdict: It will probably still be useful for those who spend a couple hundred per month in dining OR clothes shopping. But if you are looking for better cash rebate in Flight and Hotel you book online, Use OCBC Frank + BOC Shop! card instead. I do not do much groceries shopping, but I think there are better choices on the market, such as Citibank SMRT card or OCBC Plus Card.

On a side note, ANZ does not provide internet banking service for credit card users, nor is its Phone Banking any useful. I once tried to change my phone pin, and I gave up after 15 mins playing in the system.

I am cancelling my Optimum card as soon as I received and converted and spent its 88 Optimum$ welcome rewards.

Remember to cancel asap huh? Less ppl use this card, it's less competitive and the benefit will stay longer