ANZ Optimum World Mastercard

[redchallenge]

U pay in usd or sgd? $2 equal how many percent?

paid SGD 71.83 in amazon,

ANZ statement appears as follow

AMAZON MKTPLACE PMTS AMAZON.COM USA
73.63

thats around 2.5%

 

[Trazora]

paid SGD 71.83 in amazon,

ANZ statement appears as follow

AMAZON MKTPLACE PMTS AMAZON.COM USA
73.63

thats around 2.5%

That's cross border fee for paying in SGD processed overseas. It is legitimate fees charged by ANZ according to their tnc.

Anyway you should have paid in USD instead. It incur 2.5% foreign currency conversion fees. But difference is amazon used a very bad rate to convert usd to sgd. Better to pay in usd and have it convert to sgd according to visa/masters rates.

 

[redchallenge]

That's cross border fee for paying in SGD processed overseas. It is legitimate fees charged by ANZ according to their tnc.

Anyway you should have paid in USD instead. It incur 2.5% foreign currency conversion fees. But difference is amazon used a very bad rate to convert usd to sgd. Better to pay in usd and have it convert to sgd according to visa/masters rates.

i see.. will take note on it. so in general it is better to pay in the merchant's currency? or it is merchant dependent

 

[vince123123]

Generally its better to pay in the foreign currency. Paying in local currency may attract DCC charges. Google DCC to find out more about it but suffice to say you are paying a premium amount just to know how much it would cost in your home currency.

i see.. will take note on it. so in general it is better to pay in the merchant's currency? or it is merchant dependent

 

[Trazora]

i see.. will take note on it. so in general it is better to pay in the merchant's currency? or it is merchant dependent

Generally better to pay in merchant's currency, with the exception of some merchants eg iHerb that use good DCC rates.

 

[redchallenge]

Generally its better to pay in the foreign currency. Paying in local currency may attract DCC charges. Google DCC to find out more about it but suffice to say you are paying a premium amount just to know how much it would cost in your home currency.

Generally better to pay in merchant's currency, with the exception of some merchants eg iHerb that use good DCC rates.

thanks guys for the advice !

 

[iacnij]

sign up already now when can get the $100 rebate .. thanks for advice

 

[saintgtril]

sign up already now when can get the $100 rebate .. thanks for advice

I read the T and C, but it is still not crystal clear to me. Pardon me if this is a silly question, if i am an existing ANZ credit cards holder, am i still entitled to the $100 rebate, assuming i fulfill the minimum spend ($488 or more) during the qualified period and i only apply the optimum card?

From https://sg.anz.com/apps/optimum/

^Valid from 25 July 2016, 0000hrs to 30 September 2016, 2359hrs for new ANZ Credit Card customers who (i) apply online for any ANZ Credit Card via https://sg.anz.com/onlineapp/forms/credit/application, (ii) have their card application approved in the above respective Qualifying Week; and (iii) within 30 days of the date of the respective approval charges (a) at least S$488 of Qualifying Card Spend to the ANZ Optimum World MasterCard Credit Card, ANZ Platinum Credit Card, and/or ANZ Switch Platinum Credit Card, and (b) at least S$500 of Qualifying card Spend to the ANZ Travel Visa Signature Credit Card, will receive one (1) Cash rebate, one (1) 2000 bonus miles and one (1) 24"Luggage bag gift only. 24" Luggage gift: First 100 customers with their cards approved for each Qualifying Week. This is an extract. Click here for full terms and conditions.

 

[Trazora]

I read the T and C, but it is still not crystal clear to me. Pardon me if this is a silly question, if i am an existing ANZ credit cards holder, am i still entitled to the $100 rebate, assuming i fulfill the minimum spend ($488 or more) during the qualified period and i only apply the optimum card?

From https://sg.anz.com/apps/optimum/

^Valid from 25 July 2016, 0000hrs to 30 September 2016, 2359hrs for new ANZ Credit Card customers who (i) apply online for any ANZ Credit Card via https://sg.anz.com/onlineapp/forms/credit/application, (ii) have their card application approved in the above respective Qualifying Week; and (iii) within 30 days of the date of the respective approval charges (a) at least S$488 of Qualifying Card Spend to the ANZ Optimum World MasterCard Credit Card, ANZ Platinum Credit Card, and/or ANZ Switch Platinum Credit Card, and (b) at least S$500 of Qualifying card Spend to the ANZ Travel Visa Signature Credit Card, will receive one (1) Cash rebate, one (1) 2000 bonus miles and one (1) 24"Luggage bag gift only. 24" Luggage gift: First 100 customers with their cards approved for each Qualifying Week. This is an extract. Click here for full terms and conditions.

You need to read the full TnC.

Existing Cardmembers and applicants who had cancelled their ANZ Card(s) in the last six (6) months prior to the date of their application will not be eligible to participate in this Credit Cards Promotion. For the avoidance of doubt, this Credit Cards Promotion does not apply to ANZ Debit Cards or ANZ Corporate Cards.

 

[saintgtril]

You need to read the full TnC.

Existing Cardmembers and applicants who had cancelled their ANZ Card(s) in the last six (6) months prior to the date of their application will not be eligible to participate in this Credit Cards Promotion. For the avoidance of doubt, this Credit Cards Promotion does not apply to ANZ Debit Cards or ANZ Corporate Cards.

Thanks Trazora, please correct me if i am wrong, that means i don't qualify for the 100 rebate when i am an existing ANZ non-optimum credit card holders.

 

[Trazora]

Thanks Trazora, please correct me if i am wrong, that means i don't qualify for the 100 rebate when i am an existing ANZ non-optimum credit card holders.

Don't qualify as you are "existing cardmember"

 

[saintgtril]

Don't qualify as you are "existing cardmember"

Thanks for your prompt response Trazora!!!

 

[IamJuggernaunt]

Hi. Anyone could share their experience? If i choose dining and leisure for 5%.

Then 1% rebate is only for groceries, shopping and travel? or

Also include all other kind of spending like pharmacy, wellness, online shopping, recurring bill?

 

[Trazora]

Hi. Anyone could share their experience? If i choose dining and leisure for 5%.

Then 1% rebate is only for groceries, shopping and travel? or

Also include all other kind of spending like pharmacy, wellness, online shopping, recurring bill?

1% for all those also.

 

[IamJuggernaunt]

1% for all those also.

THANK YOU!

 

[IamJuggernaunt]

1% for all those also.

BTW, i read at somewhere 1% rebate need 100 dollar minimum spend? is it true?

 

[Trazora]

BTW, i read at somewhere 1% rebate need 100 dollar minimum spend? is it true?

To be more specific.
1) optimum$ earned per transaction is rounded down to nearest 0.1 optimum$. So for those transaction under 1%, earn 0.1 optimum$ per $10 spend. For those transaction under 5%, earn 0.1 optimum$ per $2 spend.

2) At the end of the statement month, optimum$ earned in the month are totalled and the total is rounded down to nearest 1 optimum$.

 

[IamJuggernaunt]

To be more specific.
1) optimum$ earned per transaction is rounded down to nearest 0.1 optimum$. So for those transaction under 1%, earn 0.1 optimum$ per $10 spend. For those transaction under 5%, earn 0.1 optimum$ per $2 spend.

2) At the end of the statement month, optimum$ earned in the month are totalled and the total is rounded down to nearest 1 optimum$.

THANKS AGAIN!

 

[Henabi]

managed to receive waiver for annual fee

 

[hogrider88]

managed to receive waiver for annual fee

me too.~~~~