ANZ Optimum World Mastercard

[Tyrian]

I wonder why they can't be a one card fits all kinds of scenarios. Must have multiple cards for multille purposes.

 

[more3cm]

Just got verbal confirmation by speaking to an ANZ agent. The transfer will happen in June as expected, and the rates are as follows:

1 Optimum$ will map into 1 Daily$
1 ANZ Reward point will map into 1 DBS point
2 Travel$ will map into 1 DBS point

This also suggests that the optimum card will be mapped into the POSB everyday card.

Thanks for the info! Last burst of fire this month for the spend $200 get $10 promo

 

[revhappy]

DBS will issue a new one to you.

Are you sure about this? When DBS acquired Posb so long ago, yet they have kept the Posb brand. I wonder why would they kill the optimum card, I think they should just call it as DBS optimum.

I also wonder will they kill the anz digital banking website and migrate all accounts to DBS platform?

DBS is currently running is promotion until Jun, on their credit cards, if you didn't hold their card for 1 year, then you apply for a card and min spend, you get $100. I am waiting for Jun to apply for the card. Now I wonder if anz and DBS merge will it be considered that I am existing DBS customer?

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[JC2015]

Are you sure about this? When DBS acquired Posb so long ago, yet they have kept the Posb brand. I wonder why would they kill the optimum card, I think they should just call it as DBS optimum.

I also wonder will they kill the anz digital banking website and migrate all accounts to DBS platform?

DBS is currently running is promotion until Jun, on their credit cards, if you didn't hold their card for 1 year, then you apply for a card and min spend, you get $100. I am waiting for Jun to apply for the card. Now I wonder if anz and DBS merge will it be considered that I am existing DBS customer?

Sent from Xiaomi REDMI NOTE 4 using GAGT

1. POSB v different, essentially a singaporean bank, resonates w the population ...

2. POSB didn't have credit cards at that time

3. ANZ credit card strategy may not be same as DBS

 

[dahnoob]

Erm so if I have no POSB Everyday card then where do the ANZ Optimum $ go?

DBS will issue a new one to you.

Yes, this has been confirmed multiple times via writing and verbal as well. A new card that is the closest to your original card will be issued by DBS, along with a new card number.

 

[vegavega25]

I also wonder will they kill the anz digital banking website and migrate all accounts to DBS platform?

[/URL]

Absolutely, 100%.

 

[259850]

Any idea when the Optimum card will be cancelled?

I've got a trip coming up 1-19 June, and want to use the Optimum card for one last time. The unlimited rebate for dining and hotels (under the leisure category) has made this a good card for overseas trips. I don't mind getting my Optimum$ converted to Daily$, just don't want to lose the chance of earning Optimum$ under current rules in June. My billing cycle ends on the 4th of each month, so the Optimum$ from this trip would be posted only early July.

 

[dahnoob]

Any idea when the Optimum card will be cancelled?

I've got a trip coming up 1-19 June, and want to use the Optimum card for one last time. The unlimited rebate for dining and hotels (under the leisure category) has made this a good card for overseas trips. I don't mind getting my Optimum$ converted to Daily$, just don't want to lose the chance of earning Optimum$ under current rules in June. My billing cycle ends on the 4th of each month, so the Optimum$ from this trip would be posted only early July.

The deadline for redemption of reward points to air miles is 19 June, so I would expect the transfer to happen after that. You should be safe to use the Optimum till 19 June at least. Supposedly more information will be released in June, you can try calling in before your trip to find out.

 

[vegavega25]

Any idea when the Optimum card will be cancelled?

I've got a trip coming up 1-19 June, and want to use the Optimum card for one last time. The unlimited rebate for dining and hotels (under the leisure category) has made this a good card for overseas trips. I don't mind getting my Optimum$ converted to Daily$, just don't want to lose the chance of earning Optimum$ under current rules in June. My billing cycle ends on the 4th of each month, so the Optimum$ from this trip would be posted only early July.

Bank/card mergers have happened dozens of times world-wide so what is happening to ANZ/DBS is not unique by any measure.

I suspect we'll hear from ANZ very soon. The exact date on which the Optimum card will stop working is not know yet.

But what'll happen is that DBS will send ANZ Optimum card holders their version of whatever card this is merged into or which it becomes. It is not know which card, and what'll happen to existing DBS cardholders if it is a card which they already have. Could be a new card from DBS altogether, or could be one of their existing products.

However, at some point in the near future all ANZ cards will start earning rewards according to whatever new DBS program it will come under, and the ANZ reward program will cease to exist.
At this stage, what's known is that unused Optimum$s will become DBS points on 19 June 2017.

Also, DBS will give all ANZ cardholders some time before which they absolutely must start using the new card.

The ratio of conversion (although confirmed to one member here by an ANZ rep) has not been announced officially yet.

So finally, in your case:

As of now, it looks very likely that before 19 June, the ANZ Optimum$ program will continue and so you'll earn under the current rules. Unless we hear otherwise before then.

You're right that redemption in Optimum$, i.e. according to current reward program, of whatever you get during 1-19 June is completely ruled out, since the points will post in July. They will post as DBS points.

 

[259850]

Bank/card mergers have happened dozens of times world-wide so what is happening to ANZ/DBS is not unique by any measure.

I suspect we'll hear from ANZ very soon. The exact date on which the Optimum card will stop working is not know yet.

Some earn rates for other cards are changing from 1 June:
http://www.anz.com/singapore/en/personal/credit-cards/revision-ccprogramme-terms-conditions/

Nothing on Optimum yet. A sensible cut-off would be at the end of June, since we need to choose a new Optimum category for the 3rd quarter then.

 

[vegavega25]

Some earn rates for other cards are changing from 1 June:
http://www.anz.com/singapore/en/personal/credit-cards/revision-ccprogramme-terms-conditions/

Nothing on Optimum yet. A sensible cut-off would be at the end of June, since we need to choose a new Optimum category for the 3rd quarter then.

Thanks, good to know. 2 quick responses:

1. Yes, need more information on Optimum. Several people have remarked redeeming under current rules to the extent possible, and then seeing what happens. We'll all know soon enough.

2. Interesting that DBS is making ANZ make these changes noted in the link you posted before they become DBS products. Clearly they don't want to be seen as downgrading (if it is that) rewards programs as soon as they become DBS products and would rather let ANZ do it. I don't really appreciate hearing about what's happening in bursts, and I wish the ANZ communication were one-time, straightforward to all Optimum card holders and clearer rather than posting short bullets on various website pages.

 

[vince123123]

Anyone see any difference for the ANZ Travel Card? It seems to be the same as the old system save that there doesn't seem to be anymore 2.8mpd on AU/NZ spending. At 1.4mpd, its better than DBS Altitude.

If Travel$ is going to be mapped to DBS$, does that mean that the new T&Cs effective on 1 June would be changed yet again on 19 June?

Some earn rates for other cards are changing from 1 June:
http://www.anz.com/singapore/en/personal/credit-cards/revision-ccprogramme-terms-conditions/

Nothing on Optimum yet. A sensible cut-off would be at the end of June, since we need to choose a new Optimum category for the 3rd quarter then.

 

[JC2015]

Anyone see any difference for the ANZ Travel Card? It seems to be the same as the old system save that there doesn't seem to be anymore 2.8mpd on AU/NZ spending. At 1.4mpd, its better than DBS Altitude.

If Travel$ is going to be mapped to DBS$, does that mean that the new T&Cs effective on 1 June would be changed yet again on 19 June?

One reason they can have 1.4 mpd is 2.5% on cross border txns which include Uber. That's huge given how many uber rides a typical person takes. So need to weigh the T&C.

 

[Trazora]

One reason they can have 1.4 mpd is 2.5% on cross border txns which include Uber. That's huge given how many uber rides a typical person takes. So need to weigh the T&C.

Well most people use other cards for online transactions

 

[vince123123]

Well I don't use this card for Uber when there is a much better card to use. Stick to local transactions and you will come up on top.

One reason they can have 1.4 mpd is 2.5% on cross border txns which include Uber. That's huge given how many uber rides a typical person takes. So need to weigh the T&C.

 

[naro]

Well I don't use this card for Uber when there is a much better card to use. Stick to local transactions and you will come up on top.

Which card do u use for Uber?

 

[revhappy]

I am going to apply for DBS cards soon under the new card sign up promotion, it will then be interesting how my ANZ and DBS will merge.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[revhappy]

If I have existing DBS cards, my ANZ outstanding balance would be transferred to the current DBS card I am holding?

It will be interesting to see whether they will add up the credit limit. Ideally your credit limit of ANZ should be subsumed into DBS. But if you have almost full outstanding on both accounts then may be they will give you some time to pay down. It will be interesting to see what happens.

 

[revhappy]

I think the 19th June redemption of Optimum$ means even partial Optimum$ will be moved to DBS and it could be possible to redeem partial optimum$ or DBS$ when it moves to DBS. I dont think the 50 minimum limit will be kept in DBS.

My statement closes on 16th. So I guess I should try my luck only upto the spends until 16th? Or should I risk it using this card until 19th?

I have an overseas trip coming up from 12th to 20th Jun. I am wondering whether I should use this optimum or CIMB Visa platinum? There is potential to spend about $300 I guess on this trip. Currently I am at 34 optimum$.

 

[koja6049]

I think the 19th June redemption of Optimum$ means even partial Optimum$ will be moved to DBS and it could be possible to redeem partial optimum$ or DBS$ when it moves to DBS. I dont think the 50 minimum limit will be kept in DBS.

My statement closes on 16th. So I guess I should try my luck only upto the spends until 16th? Or should I risk it using this card until 19th?

I have an overseas trip coming up from 12th to 20th Jun. I am wondering whether I should use this optimum or CIMB Visa platinum? There is potential to spend about $300 I guess on this trip. Currently I am at 34 optimum$.

no official announcement yet. we'll never know if they skali forfeit the $