CBA and Woolworths EzyBanking "parting ways"

[beardoc]

I just noticed this on http://www.infochoice.com.au/banking...ticle14169.asp

This is a worry, because it might mean the end of the generous 1:1 point conversion for the Woolworths EzyBanking Mastercard.

Woolworths and CBA dissolve credit card alliance
2 December 2005

Woolworths may seek to issue a co-branded credit card with another bank after negotiating an early end to an exclusive agreement with Commonwealth Bank. Commonwealth Bank markets credit cards under the Woolworths Ezy Banking brand at present, under an agreement reached in 1999. Ezy Banking has 480,000 debit card accounts and 130,000 credit card customers. Woolworths may become only the second non-bank to secure a credit card licence following GE MoneySwitch.


By Herald Sun

[oz_mark]

I have long had my doubts about either sides commitment to EzyBanking. But will be interesting to see what path they take with it, although the article seems a bit inconsistant - there's the bit about partnering with another bank, and then ther's the bit about being a non bank getting a credit card license.

I guess they could set up there own finance arm. Seems to be a strategy that has worked for David Jones.

[beardoc]

I'm not really worried about where they happen to partner - what I'm worried about is the potential loss of the 1 QFF point per $1 spent, which is so rare with a Mastercard/Visa these days in a form that doesn't require enormous annual fees or very high income requirements.

[oz_mark]

It will probably depend on what sort of leverage Woolies has over its next partner, and how much business they propose would be created out of the partnership. But I can see how you would be concerned about the future of the conversion rate.

[one9]

what will happen to existing cards? I have recently applied for the card as the Platinum CBA cards now has points capping. I received my PIN in the mail today, so should get my card in the next day or two. Hopefully Woolworths wont end the card too soon.

[beardoc]

what will happen to existing cards? I have recently applied for the card as the Platinum CBA cards now has points capping. I received my PIN in the mail today, so should get my card in the next day or two. Hopefully Woolworths wont end the card too soon.

I think it's the case that we don't have any further information at this point. It is a concern that they might introduce points capping, but I guess that we just have to wait and see, and use it whilst we can.

[JamesF]

Hi all,

just went to check the ezybanking website and couldnt find anywhere to sign up for this card. All the points transfer details have disappeared too. Has this card been discontinued for good? have been offline for a few weeks so maybe missed something?

fingers crossed it still exists as it's a great deal.

cheers
james

[serfty]

Hi all,

just went to check the ezybanking website and couldnt find anywhere to sign up for this card. All the points transfer details have disappeared too. Has this card been discontinued for good? have been offline for a few weeks so maybe missed something?

fingers crossed it still exists as it's a great deal.

cheers
james

Something is quetly happeing here. See this thread: Something is afoot ... (Unlimited 1 for 1 rewards with Visa ??).

[Maca44]

Hi all,

just went to check the ezybanking website and couldnt find anywhere to sign up for this card. All the points transfer details have disappeared too. Has this card been discontinued for good? have been offline for a few weeks so maybe missed something?

fingers crossed it still exists as it's a great deal.

cheers
james

I heard the rumour some months ago that CBA and Ezy Banking were parting company, but nothing in the media or elsewhere since that time.

To transfer points to QF (and I did it today) you telephone them and the points are t/f to QF within two days. I have had the Ezy card for 6 mths, only as a backup when merchants don't accept AMEX, but have recently received a wizard mastercard as a secondary backup for cash advances when in overseas..no annual fee and great rates etc so its not costing me anything to have it. Be warned though, there is another thread where someone was having trouble with obtaining cash advances in Sth America as the card was blocked and I think was was because they did not complete and send back a "identification Reference Form" when they received the card in the first instance.

[serfty]

Not sure how relevant this will prove to be, but I was in my 'home' Safeway (Victorian "Woollies") last evening and noticed an area outside the cash registers with a large Sticker (~1 sq. Metre) on the floor.

Can't recall the exact working but it was something like:

Coming Soon:
ANZ/Safeway ATM

This leads to all sorts of possibilities ... or none!