ANZ Optimum World Mastercard

[Asphodeli]

I'm going to lodge a complaint with MAS today for delaying the annual card free waiver in order to force customers to pay, or else get our credit scores marked down.

Sent from Sony D5833 using GAGT

 

[foozgarden]

I think you will get Optimum dollar if you apply Optimum card. I wanted the free Switch card and it said it is in form of point reward....

what is the purpose and benefits of switch?

 

[Henabi]

I'm going to lodge a complaint with MAS today for delaying the annual card free waiver in order to force customers to pay, or else get our credit scores marked down.

Sent from Sony D5833 using GAGT

Complain to mas also no use. It's not like they govern the banks. They only facilitate and assist. Just like the CASE, they cannot order the banks to waive your annual fees.

And dude, understand this.
all banks reserve the sole discretion on credit card waiver.

They don't waive, you pay. You don't pay up before the stated deadline, the system will automatically update your CBR that you missed a credit card payment.

So no use complaining. Save the effort. You should, instead spend it on coming up with a good reason to tell ANZ why they should waive your annual fees.

 

[gravityz3r0]

Mine was also delayed, which was a bit weird, since other banks all waiver are effective immediately but ANZ specifically told me that i have to wait 3-5 days to be posted, which i think is bullcrap. Since my due date is very close, i'm not taking any chances so i paid fee and wait for the reversal later. I hope they dont go back on their word.

 

[Asphodeli]

Complain to mas also no use. It's not like they govern the banks. They only facilitate and assist. Just like the CASE, they cannot order the banks to waive your annual fees.

And dude, understand this.
all banks reserve the sole discretion on credit card waiver.

They don't waive, you pay. You don't pay up before the stated deadline, the system will automatically update your CBR that you missed a credit card payment.

So no use complaining. Save the effort. You should, instead spend it on coming up with a good reason to tell ANZ why they should waive your annual fees.

So I should just pony up the $180 with zero hope of getting it waived, even though I did not spend any money after my credit card annual renewal date? That's a very grey line there, and with the speed of ANZ, people are not assured that their waivers will be on time before the credit score update. Hence the panicking we're seeing here.

PS: I was billed $180 on the 3rd of May, the first working day of the month, and I have no posted transactions for the Month of May, except for my payment for last month's bill. No surprise here that ANZ is out for your money, and are intentionally doing this in order to make you either "deposit" $180 into your card balance to spend later, or hope that you pay the $180.

 

[Asphodeli]

Mine was also delayed, which was a bit weird, since other banks all waiver are effective immediately but ANZ specifically told me that i have to wait 3-5 days to be posted, which i think is bullcrap. Since my due date is very close, i'm not taking any chances so i paid fee and wait for the reversal later. I hope they dont go back on their word.

I called in for a fee waiver again today, and it's now an automated system. Last week when I called in there was a human answering my call. Not sure what's going on...

 

[ceecookie]

Complain to mas also no use. It's not like they govern the banks. They only facilitate and assist. Just like the CASE, they cannot order the banks to waive your annual fees.

And dude, understand this.
all banks reserve the sole discretion on credit card waiver.

They don't waive, you pay. You don't pay up before the stated deadline, the system will automatically update your CBR that you missed a credit card payment.

So no use complaining. Save the effort. You should, instead spend it on coming up with a good reason to tell ANZ why they should waive your annual fees.

What if you cancel your card with annual fee paid? They refund u via cheque?

 

[Asphodeli]

What if you cancel your card with annual fee paid? They refund u via cheque?

Nope, any credit you have inside the card whether by cashback or "deposit" most likely will be forfeited as stated in their T&Cs.

Kinda feels like The Big Short right now...

 

[naro]

A general question about credit card. It is possible to request the bank to coincide my billing cycle to the actual calendar month? E.g Apr16 credit card statement will be available around 1st week of May16...

You can call in to request for change of statement date. But a few days cant be used, 31st and 1st of each month

 

[ceecookie]

Nope, any credit you have inside the card whether by cashback or "deposit" most likely will be forfeited as stated in their T&Cs.

Kinda feels like The Big Short right now...

No I mean the annual fee for the following year. If I pay first before requesting cancellation(to avoid harming credit report), will they refund the annual fee by cheque or smth?

 

[Trazora]

No I mean the annual fee for the following year. If I pay first before requesting cancellation(to avoid harming credit report), will they refund the annual fee by cheque or smth?

Dun think they will refund. You need to request and get their agreement for waiver/ cancellation as soon as possible when annual fee is reflected on your statement. Never pay annual fee if you not keen to do so. Not sure how credit score will be affected, but I dun think it is of a significant cause for concern.

 

[Asphodeli]

Dun think they will refund. You need to request and get their agreement for waiver/ cancellation as soon as possible when annual fee is reflected on your statement. Never pay annual fee if you not keen to do so. Not sure how credit score will be affected, but I dun think it is of a significant cause for concern.

Yeah it shouldn't be a big concern for most. I'm ok with credit score dropping, but paying $180 for something which I will hardly use for the next year? That's my main gripe.

 

[eD|t|0n]

If let's say the bank refuse to the request of waiving off the annual fee. They agree to your cancellation.

What is stopping me from re-applying the same card again say 1 week/1 month later? Do the banks have a "cooling" off period as per say...

 

[gravityz3r0]

If let's say the bank refuse to the request of waiving off the annual fee. They agree to your cancellation.

What is stopping me from re-applying the same card again say 1 week/1 month later? Do the banks have a "cooling" off period as per say...

They probably won't approve as it was too obvious. Not sure if there's an official written rules though. They can always say it's "up to bank discretion".

 

[zoossh]

Actually missing a statement or two due to annual fee issues is it very serious if u have high income and is local and otherwise good records with 10 over other cards?

My waiver for anz travel drag on for 4 months.

 

[Henabi]

its interesting to see that people can accept and willing to pay hundreds or even thousands of dollars of cancellation fees for phone lines, internet plans, club memberships and even gym memberships

but for credit cards... hmmmmm

whats more... banks dont even charge upfront any application fees, administration fees etc when we applied for their cards.

I wonder what would happen if banks were to collect anapplication fee, which is equivalent to the annual fee, and this amount is refundable if rejected.

 

[redchallenge]

If let's say the bank refuse to the request of waiving off the annual fee. They agree to your cancellation.

What is stopping me from re-applying the same card again say 1 week/1 month later? Do the banks have a "cooling" off period as per say...

i know some of my friends that do this, cancel the card A, meanwhile apply other bank's card B. 6 months later if there is promotion for card A, then go apply again to be entitled for promotion. keep repeating for A and B

 

[FuzzyMuzzy]

I like this card but I have to say the portal and hotline is really one of the worst I've experienced.

If I order food delivery online is it considered DINING?

 

[Henabi]

I like this card but I have to say the portal and hotline is really one of the worst I've experienced.

If I order food delivery online is it considered DINING?

you mean like Foodpanda? I tried with Foodpanda. not under dining. cuz iirc the merchant code is 42XX

 

[matafleur]

you mean like Foodpanda? I tried with Foodpanda. not under dining. cuz iirc the merchant code is 42XX

Is their merchant code 4215? How did you find that out?