ANZ Optimum World Mastercard

[Trazora]

This may be answered before. Because ANZ says $0.05 is awarded for every $10. Does that mean if I spend two times of $16, I will get

$0.05 x 2 for two $16 spent rounded down to nearest $10 each, or
$0.15 for total $32 spent

Basically, whether it is awarded at a transaction level or at a CC bill total level.

1) At transaction level,
Under the 5% category, 0.1 optimum$ for every $2 spending
Under the 1% category, 0.1 optimum$ for every $10 spending

2) At end of statement month, optimum$ from transactions posted in the month are summed up and rounded down to nearest 1 optimum$

So for example, if 2x $16 transactions made under the 5% category. 0.8 optimum$ for each transaction. 2x0.8=1.6 optimum$, but you get only 1 optimum$ awarded at the end of statement month.

 

[swathe]

Thanks Trazaora. Your example is clear. Like that small spending really get eaten away by ANZ.

 

[vince123123]

That's why I stopped spending on ANZ Optimum card after realising their system. On top of the double round down, you need to accumulate $50 before you can redeem. Imagine if you are at $49 and your annual fee comes and they refuse to waive. Pwned!

Only good for single large purchases that reduce the double round down effect and the $50 minimum redeemable cashback.

 

[Henabi]

manager said his CSO says got the dates wrong.

usually in such cases, i will copy and paste everything in their website regarding this promotion and whack them word for word.

especially if my spending falls within the qualifying period.

 

[Henabi]

Thanks Trazaora. Your example is clear. Like that small spending really get eaten away by ANZ.

best for spendings which are $20 and above, cuz that will give you at least 1opt$

already moved away from this card since 3 months ago. once I finished my IPP, then cancel this card.

 

[zoossh]

That's why I stopped spending on ANZ Optimum card after realising their system. On top of the double round down, you need to accumulate $50 before you can redeem. Imagine if you are at $49 and your annual fee comes and they refuse to waive. Pwned!

Only good for single large purchases that reduce the double round down effect and the $50 minimum redeemable cashback.

Depends on the typical amount that u spent on. For me, I used for dining which are occasionally 5 but mostly 20-200. That gives me a consistently rebate amount of 4.4-4.8 percent which is much better than ocbc 365 which needs weekend dining and min spend, or the uob preferred Amex that some merchants dun accept.

But like what u say, need to plan ahead. 5 percent rebate means x20 for spending. To redeem 50 points, I need to spend 50x20 = 1k. Right now I overshot by a few pts and I'm left with 2 months, so right now I got to switch to other cards and hopefully can get waiver when it comes. I'm not confident that I can spend 1k on dining in two months though sometimes I do.

 

[Henabi]

Depends on the typical amount that u spent on. For me, I used for dining which are occasionally 5 but mostly 20-200. That gives me a consistently rebate amount of 4.4-4.8 percent which is much better than ocbc 365 which needs weekend dining and min spend, or the uob preferred Amex that some merchants dun accept.

But like what u say, need to plan ahead. 5 percent rebate means x20 for spending. To redeem 50 points, I need to spend 50x20 = 1k. Right now I overshot by a few pts and I'm left with 2 months, so right now I got to switch to other cards and hopefully can get waiver when it comes. I'm not confident that I can spend 1k on dining in two months though sometimes I do.

i agree that anz optimum is better than ocbc 365 when it comes to dining. as it also covers dining within hotels, which is a very common thing in singapore. since alot of buffets are in 4-5 star hotels in singapore.

 

[vince123123]

Right now my go-to card for dining is HSBC Advance, but then again, that's also because I moved over to the miles collection game. No rounding problem and in fact, HSBC rounds to the nearest dollar, so if you spend $10.55, it counts as $11.

No min spend is good. But sometimes the problem with no min spend is that you tend to use this as the last priority. When I was still on rebates, I used the 365 most of the time on weekends which is when most of the dining out happens. Which in turn makes it slow accumulation to hit 50 optimum dollars for redemtion

Depends on the typical amount that u spent on. For me, I used for dining which are occasionally 5 but mostly 20-200. That gives me a consistently rebate amount of 4.4-4.8 percent which is much better than ocbc 365 which needs weekend dining and min spend, or the uob preferred Amex that some merchants dun accept.

But like what u say, need to plan ahead. 5 percent rebate means x20 for spending. To redeem 50 points, I need to spend 50x20 = 1k. Right now I overshot by a few pts and I'm left with 2 months, so right now I got to switch to other cards and hopefully can get waiver when it comes. I'm not confident that I can spend 1k on dining in two months though sometimes I do.

 

[koja6049]

frankly i sign up for this card solely for the $168 cashback only. After redeeming it will be in cold storage or cancelled.

Not entirely true if you view it as "no min spend". Think about it, if you need to redeem Optimum$ in blocks of $50, isn't that some form of min spend?

 

[marcho21]

frankly i sign up for this card solely for the $168 cashback only. After redeeming it will be in cold storage or cancelled.

Not entirely true if you view it as "no min spend". Think about it, if you need to redeem Optimum$ in blocks of $50, isn't that some form of min spend?

Sign up for Switch lor. $168 rebate is in points and dun need to accumulate in blocks.

 

[vince123123]

Perhaps the more accurate way to put it is, no minimum monthly spend. There is a minimum spend but could be stretched out for a longer period.

frankly i sign up for this card solely for the $168 cashback only. After redeeming it will be in cold storage or cancelled.

Not entirely true if you view it as "no min spend". Think about it, if you need to redeem Optimum$ in blocks of $50, isn't that some form of min spend?

 

[koja6049]

Sign up for Switch lor. $168 rebate is in points and dun need to accumulate in blocks.

then I will miss out on the 5% on $600, which amounts to $30. Since I'm going to cancel it anyway, why use Switch?

 

[marcho21]

then I will miss out on the 5% on $600, which amounts to $30. Since I'm going to cancel it anyway, why use Switch?

u signed up for the $168 rebate right? then just get switch for hassle-free redemption instead of whining how to get to 50 Optimum$.

 

[koja6049]

u signed up for the $168 rebate right? then just get switch for hassle-free redemption instead of whining how to get to 50 Optimum$.

siaolang $198 don't want, want $168

 

[marcho21]

go ahead lor. u happy can liao.

 

[vegavega25]

1) At transaction level,
Under the 5% category, 0.1 optimum$ for every $2 spending
Under the 1% category, 0.1 optimum$ for every $10 spending

2) At end of statement month, optimum$ from transactions posted in the month are summed up and rounded down to nearest 1 optimum$

So for example, if 2x $16 transactions made under the 5% category. 0.8 optimum$ for each transaction. 2x0.8=1.6 optimum$, but you get only 1 optimum$ awarded at the end of statement month.

Optimum$ are rounded down to the nearest 1 when reported in the statement, BUT the bank has a record of them up to 2 decimal places. It is in the system, just not visible to us. So they are not "double-rounding down".

 

[redchallenge]

some new promo

https://sg.anz.com/ANZPrivileges/festive/

 

[vegavega25]

some new promo

https://sg.anz.com/ANZPrivileges/festive/

Good grief! Who at ANZ comes up with these bizarre and ghastly promotions and offers? I bet these people are the first ones that DBS will fire when they take over.

 

[chongpang]

Good grief! Who at ANZ comes up with these bizarre and ghastly promotions and offers? I bet these people are the first ones that DBS will fire when they take over.

Do you mean this promo if good or bad?

To participate, ANZ Cardmembers must spend a min of S$100 in a single retail transaction ("Qualifying Transaction"), on the same day send in an SMS in the prescribed format, and receive an acknowledgement SMS from the Bank

Does online spend consider as retail transaction?

 

[Trazora]

Do you mean this promo if good or bad?

To participate, ANZ Cardmembers must spend a min of S$100 in a single retail transaction ("Qualifying Transaction"), on the same day send in an SMS in the prescribed format, and receive an acknowledgement SMS from the Bank

Does online spend consider as retail transaction?

For online retail yes.