Members of Woolworths’ Everyday Rewards scheme already get frequent flyer points for shopping, and can trade fuel discounts for points if they’re so inclined. A new credit card from Woolworths offers even more points gaining options, but as with so many rewards schemes, they don’t come cheap.
The Everyday Rewards Qantas Credit Card is effectively a Mastercard from HSBC which gives you a point for every dollar you spend on the card. If you use your card at Woolworths, Big W or another Everyday Rewards store, you’ll also get the usual bonus points (so spending $130 will get you 230 points).
However, at $89 a year and with a basic interest rate of 19.99%, it’s some way from being the cheapest credit card on the market. There’s an interest free period of up to 55 days, so you could exploit the card to get points at relatively low cost, but it would require a fair bit of effort and planning. Woolworths is pushing the convenience of having one card for your wallet, but you still need to scan the Everyday Rewards bar code on the back to earn the full set of points.
Perhaps the most interesting data in the announcement is that 3 million of the 5.4 million Everyday Rewards customers have registered for the Frequent Flyer option. No wonder competition for seats on popular travel days remains so tough.
Matthew
Thursday, October 28, 2010 at 3:51 PMDidn’t Woolworths take away the option to pay by Credit?
Angus Kidman
Thursday, October 28, 2010 at 4:00 PMNo – they took out debit credit cards, not credit cards more generally.
Phil H
Thursday, October 28, 2010 at 3:52 PMI fail to see in what context they claim (in their press release) the annual fee of $89 as “low”. I also note that every time Woolies quotes a spend example they choose a large amount in a single transaction, which minimises the impact of the Everyday Reward benefit not providing anything for the first $30. (I realise the added credit card benefit doesn’t have this restriction). But the fact remains that for small top-up shops the offer is much less attractive.
Angus Kidman
Thursday, October 28, 2010 at 3:59 PMThey pushed the “low” angle quite heavily in their launch conference call.
Phil
Thursday, October 28, 2010 at 10:01 PMI think it is a case of following the bandwagon. As stupid or as pathetic the principle is, so long as someone can justify its following the current trend… their arse is covered.
“Well, Mr. Director it is what everyone is doing, we just put our own slant on it with advice from the accountants on specifics…”
Normal dribble from an uninventive lot!
hater
Friday, October 29, 2010 at 8:31 PMThat’s a cheap annual fee for a card linked with QFF.
Richard
Monday, November 22, 2010 at 9:24 PMHi – this credit card fee is pretty low when you compare with the competition (i.e. other credit cards linked to Qantas’ frequent flyer program). The 16000 bonus points more than cover the amount you pay for the first year’s annual fee. All other Visa or MasterCard based cards currently on the market give less than 1 point per dollar (only Amex gives 1 – 1.5 points and you generally pay between $100 and $400 for these cards and they’re not as usable). So yes, it is a very good deal.
Garth
Friday, February 25, 2011 at 4:25 PMHmmm, it might be a low fee, but the undisclosed lending criteria (not my credit rating) have “regretfully” prevented me from getting one. I wonder if it’s becasue I pay off my cards every month?
Pu
Sunday, May 15, 2011 at 10:35 AMDo you make $50000 a year? And how many credit cards do you already have and what is the total line of credit on those cards
Mick
Tuesday, July 5, 2011 at 5:57 AMGood point Garth, they want people they can eventually ensnare and wring money out of like a sponge every month, not responsible small business owners that have no debts & pay in full on time every time. We’ve been refused three times obviously cause they don’t like small business owners and they think I’m gonna cost them a bomb. Last time I checked my money was the same as everybody elses
Donna
Tuesday, September 6, 2011 at 2:07 PMYes, I too have their credit card and find it good for flying, however, my daughter was rejected – pays her cards on time, owned her own home, no debts yet was knocked back? Seems a bit strange.Guess her moneys not good enough
JB
Saturday, October 1, 2011 at 12:38 PMI was knocked back too. I’m an IT contractor that has several credit cards, and pays them on time.