ANZ Optimum World Mastercard

[soneat]

usually i dont like to anyhow slam people but i will suggest you to read up on the T&C thoroughly before applying for any CC to avoid any future disappointment. I've got cards from UOB/Citi/HSBC/ANZ, all have some funny funny T&Cs

Moreover, this S$30 isn't only written in the fine print, it is outrightly written in their website

go read "earning your cash rebate" https://sg.anz.com/apps/optimum/about.html

as for (2), other banks also have cross border fee

I have all sorts of cards too. This is the first time I am using this ANZ card.
1. Yes, written in the T&C.
2. Other banks charge me 0.8% for similar transaction.

End up I am paying much more than what the "5% rebate (capped at S$30/transaction)" gives me. LL....learn from mistake.

 

[redchallenge]

I have all sorts of cards too. This is the first time I am using this ANZ card.
1. Yes, written in the T&C.
2. Other banks charge me 0.8% for similar transaction.

End up I am paying much more than what the "5% rebate (capped at S$30/transaction)" gives me. LL....learn from mistake.

actually for point2 i agree with you, theres no transparency whether we will get charged how much or not. but optimum card is still a pretty decent card imo, infact i chose it because it is the most fuss free card (no min spend ec month etc), just have to understand the T&C quite thorough, no thanks to their blur CSO also.

 

[soneat]

actually for point2 i agree with you, theres no transparency whether we will get charged how much or not. but optimum card is still a pretty decent card imo, infact i chose it because it is the most fuss free card (no min spend ec month etc), just have to understand the T&C quite thorough, no thanks to their blur CSO also.

With the 2.5% charge (over the entire transaction) and only S$30 optimum rebate, I ended up having to pay more than the price on the website.

1. This card is not for big purchase. Not more than S$600 per transaction. (because rebate is capped at S$30 per transaction).
2. This card is not for online purchase as it *may incur* 2.5% (in future dunno how much) charge.

 

[259850]

2. This card is not for online purchase as it *may incur* 2.5% (in future dunno how much) charge.

I just found this out when I made an online transaction in S$ but was charged abroad. Other banks charge just the cross border fee (0.8% for Visa, 1% for MC) but ANZ adds a further 1.5% fee to this amount (it states so in the T&C). Lesson learnt.

But as others have pointed out, it works quite well for certain categories, and quite fuss-free too. I'll be switching out of "Travel" back to "Groceries" come next quarter.

 

[soneat]

I just found this out when I made an online transaction in S$ but was charged abroad. Other banks charge just the cross border fee (0.8% for Visa, 1% for MC) but ANZ adds a further 1.5% fee to this amount (it states so in the T&C). Lesson learnt.

But as others have pointed out, it works quite well for certain categories, and quite fuss-free too. I'll be switching out of "Travel" back to "Groceries" come next quarter.

Another lesson learnt is for cards that I am not familiar with, just charge a little bit to test water first.
My transaction was big (in S$, don't seem to have any conversion involved as it was priced in S$ but I may be wrong), so I *fainted* when I saw the 2.5% because the 2.5% is much more than the S$30 optimum I would have received

 

[bwaysaikryptonite]

for teh promo means can juz buy $600 vouchers and get $168 cash back ? No need to be first 100 applicant or what ?

Nobodi noes ? Will get $168 cash back or just $30 cash back if buy $600 worth of gift vouchers say from any shops

 

[zoossh]

I just found this out when I made an online transaction in S$ but was charged abroad. Other banks charge just the cross border fee (0.8% for Visa, 1% for MC) but ANZ adds a further 1.5% fee to this amount (it states so in the T&C). Lesson learnt.

But as others have pointed out, it works quite well for certain categories, and quite fuss-free too. I'll be switching out of "Travel" back to "Groceries" come next quarter.

i am currently using it for local dining, which with the round off is yielding 4.5-4.8%, and i dun have to worry abt weekend dining or hit monthly limit for ocbc 365, nor with uob pref amex which gives 4 miles but often nobody accept amex.

but from the above, it seem that in the dining category which also include hotel and such. it is not a good card to use due to the 2.5 cross border fee? 4.5-2.5 = 2% rebate card? what other cards would one advice to use? stick to uob visa signature? cimb 8 x 30 might be a bit too rigid for me.

for groceries, maybank friend gives $8 for over 1k spending.

 

[biodraft]

With the 2.5% charge (over the entire transaction) and only S$30 optimum rebate, I ended up having to pay more than the price on the website.

1. This card is not for big purchase. Not more than S$600 per transaction. (because rebate is capped at S$30 per transaction).
2. This card is not for online purchase as it *may incur* 2.5% (in future dunno how much) charge.

didnt notice the $30 rebate cap per transaction. meaning to say if i want to maximine the rebate for big amount, i have to split the transaction?

 

[Henabi]

Don't forget DCC for Mastercard

Yes if wanna max rebate must split

 

[259850]

i am currently using it for local dining, which with the round off is yielding 4.5-4.8%, and i dun have to worry abt weekend dining or hit monthly limit for ocbc 365, nor with uob pref amex which gives 4 miles but often nobody accept amex.

but from the above, it seem that in the dining category which also include hotel and such. it is not a good card to use due to the 2.5 cross border fee? 4.5-2.5 = 2% rebate card? what other cards would one advice to use? stick to uob visa signature? cimb 8 x 30 might be a bit too rigid for me.

for groceries, maybank friend gives $8 for over 1k spending.

This school holidays, we are going on a long trip - so that's why I chose Dining & Leisure for this quarter. But I got caught on some hotel booking site which charges in SGD with the additional 1.5% charge. But never mind - I will be paying for most other hotels on site.

Come January I will switch to Groceries, and BOC Family will return to be my dining card (for the months I don't meet the $500 minimum, I can just do a bit of my groceries on BOC as well). Should not be an issue.

 

[259850]

for groceries, maybank friend gives $8 for over 1k spending.

I gave up on Maybank as the $600 annual cap on rebates was too restrictive. But that was when they were offering only 5% rebate. Didn't realize they have a 8% category now. Worth looking into.

 

[Henabi]

This school holidays, we are going on a long trip - so that's why I chose Dining & Leisure for this quarter. But I got caught on some hotel booking site which charges in SGD with the additional 1.5% charge. But never mind - I will be paying for most other hotels on site.

Come January I will switch to Groceries, and BOC Family will return to be my dining card (for the months I don't meet the $500 minimum, I can just do a bit of my groceries on BOC as well). Should not be an issue.

if you are using your credit card to pay for your room charges over the hotel check-in counter.

Make sure a few things
1) They are handling your credit card transaction right in front of you.
2) You can see the credit card swiping machine clearly and see every motion clearly
3) Make sure they do not do DOUBLE SWIPE (Back and forth swiping motion of your credit card) If they do. Demand them to void the transaction immediately. Keep a copy of the void receipt and re-do the transaction.

lastly, if they do not void the transaction, let them know that it is a legal & privacy offense to do a double swipe.

http://www.anz.com/singapore/en/personal/credit-cards/security/notice-on-double-swiping-cards/

3) Insist to pay in their local currency
4) Check the receipt & the amount before you sign

 

[259850]

if you are using your credit card to pay for your room charges over the hotel check-in counter.

Make sure a few things
1) They are handling your credit card transaction right in front of you.
2) You can see the credit card swiping machine clearly and see every motion clearly
3) Make sure they do not do DOUBLE SWIPE (Back and forth swiping motion of your credit card) If they do. Demand them to void the transaction immediately. Keep a copy of the void receipt and re-do the transaction.

lastly, if they do not void the transaction, let them know that it is a legal & privacy offense to do a double swipe.

http://www.anz.com/singapore/en/personal/credit-cards/security/notice-on-double-swiping-cards/

3) Insist to pay in their local currency
4) Check the receipt & the amount before you sign

All good advice thank you!

We are quite seasoned travelers. This trip should be relatively easy - in an English speaking, developed country.

Last June, I lost my main card to a pickpocketer (dressed in burqah) in Istanbul. So we ended up using my wife's supplementary card for the roadtrip through coastal Turkey. Most hotels/restaurants in smaller resort towns were not familiar with cards that don't require PINs. With a little bit of education, the problems were solved. Except for one bartender who felt that it should not be a problem for me to sign for purchases on my wife's card (she was in the restroom). He even offered to sign for it himself; "No one checks," he said.

It is pretty scary that we're allowed to make thousands of dollars of purchases with just a signature. Can't wait for MAS to force Singaporean card issuers to make payment with PIN mandatory.

 

[soneat]

didnt notice the $30 rebate cap per transaction. meaning to say if i want to maximine the rebate for big amount, i have to split the transaction?

Yes you have to split the transaction (well that's not really possible or going to be very cumbersome... esp if u r booking flights).

 

[Henabi]

Doubt it will work cuz it will mean lesser business for credit card companies

There are reasons why banks offer so many different types of security measures for overseas card usage.
1) temporary or permanent overseas usage
2) sms for minimum amount spent per transaction
3)

 

[redchallenge]

understand from you guys that if hotel fee is paid directly through agency like expedia, it is under travel category. pay when check in hotel is considered as leisure category.

what about direct pre-payment to hotel? has anyone tried this way

 

[vegavega25]

How long does the redemption credit take?

How long does ANZ take to credit the Optimum dollar redemption into the account? I placed my request online 10 days ago, and there's no activity yet showing the redemption.

 

[Henabi]

About 14 to 21 days?

 

[KiraYamatoX]

Just signed up for this card, would like to check when does the optimum dollar get posted? (Once transaction is posted or statement closing)
Was wondering whether it is possible to quickly redeem those optimum dollar to offset current month's bill.

 

[Trazora]

Just signed up for this card, would like to check when does the optimum dollar get posted? (Once transaction is posted or statement closing)
Was wondering whether it is possible to quickly redeem those optimum dollar to offset current month's bill.

Optimum$ earned summed up and rounded down to nearest optimum$ at the end of statement month before being awarded. Optimum$ can be redeemed in blocks of $50.