Go Mastercard.
Discuss Go Mastercard, on the Other Credit Card Rewards forum of FrequentFlyer.com.au, the home of frequent flyers.
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Does anyone own one of these cards?
i applied for one , .. and got my card today..
its mentions " no annual fee" on their website.
but they sent me a financial table. under fees and charges..
it says
*an establishment fee of $25 is payable as part of the monthly payment due immediately after the first statement period in which the closing balance includes an amount owing other than for the establishment fee or a buy now pay later promotion.
and
* an account service fee of $2.95 will be charged to the account monthly if the closing balance on the statement date is $10 or more.
on the first one does it mean. i have to pay a one off $25 after i activate my card?
and the second one . if i spend over $10.every month ill have to pay a 2.95 fee?
so they dont charge an annual fee.. but they charge you a monthly fee instead?
this was never mentioned in the on the website in the application.
if thats what they charge you .. im gonna cancel it
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on the first one does it mean. i have to pay a one off $25 after i activate my card?
Sounds like a once off payment after you receive your first statement and any subsequent statement contains an outstanding balance other than what is mentioned. I assume you can avoid this by continually paying off your balance before receiving next monthly statement.
Quote:
Originally Posted by abcde
and the second one . if i spend over $10.every month ill have to pay a 2.95 fee?
No. When they send a statement every month if there is an outstanding balance on the statement of >$10 you will be charged $2.95. If you pay off the balance every month before receiving statement this can be avoided.
Quote:
Originally Posted by abcde
so they dont charge an annual fee.. but they charge you a monthly fee instead?
Only if you have outstanding balance of >$10 in any statement received.
Quote:
Originally Posted by abcde
this was never mentioned in the on the website in the application.
if thats what they charge you .. im gonna cancel it
Part of the fine print. It is the enticement. Bait.
Does anyone own one of these cards?
i applied for one , .. and got my card today..
I have one of these cards, but mine was an 'upgrade' from a Buyers Edge Card that I got years ago. My last card was 2 years old and had not been activated..
Also, for some off reason, they keep referring to my card as a Premium Go card. I have no idea why. It is also a somewhat darker green than all the pictures would have you think.
Quote:
Originally Posted by abcde
its mentions " no annual fee" on their website.
Correct.
Quote:
Originally Posted by abcde
but they sent me a financial table. under fees and charges..
it says
*an establishment fee of $25 is payable as part of the monthly payment due immediately after the first statement period in which the closing balance includes an amount owing other than for the establishment fee or a buy now pay later promotion.
and
* an account service fee of $2.95 will be charged to the account monthly if the closing balance on the statement date is $10 or more.
On the $25 fee, my financial table does not include this fee, so I cannot comment.
For the $2.95 monthly fee, mine continues to say 'except we will not charge this fee when the closing balance on the statement date consists only of a credit card purchase balance'. This means it only applies (to me at least) if I have an interest free purchase of some sort on the account. If used just as a normal credit card there is no fee.
im a bit confused here...
i will type out the whole thing..
*an account service fee of $2.95 will be charged to the account monthly if the closing balance on the statement date is $10 or more.except we will not charge this fee when the closing balance on the statement date consists only of a credit card purchase balance*
does this mean.. i only get charged this fee if i owe them money?(ie. if i pay all my balance in full before the due date,which is what i always do. then there are no fees?)
or does it mean.. ill get charged this fee. if i spend over $10 every month?
im a bit confused here...
i will type out the whole thing..
*an account service fee of $2.95 will be charged to the account monthly if the closing balance on the statement date is $10 or more.except we will not charge this fee when the closing balance on the statement date consists only of a credit card purchase balance*
does this mean.. i only get charged this fee if i owe them money?(ie. if i pay all my balance in full before the due date,which is what i always do. then there are no fees?)
or does it mean.. ill get charged this fee. if i spend over $10 every month?
thanks
Understand that the Go MasterCard (like the ColesMyer Source Mastercard) is actually two cards in one. So you need to understand when is something a Credit Card Purchase and when is something not a Credit Card Purchase.
In the terms and conditions you will find that a Credit Card Purchase is defined as
Quote:
credit card purchase means a purchase which is not and was not the subject of a promotional offer.
So, based on this, the way I understand this is that if you take up a promotional offer (instalment interest free, buy now pay later, etc) you will pay the $2.95 a fee month. If you just use it for normal credit card purposes you will not pay the $2.95 fee.
ive just rang customer service..
their answer is pretty straight forward..
if you spend $10 or more every month. then your have to pay the $2.95 fee every mth.
even if you pay it in full before the due date..
the only way to avoid this fee is dont use the card or dont go over $10..
bit of a scam i reckon when they advertise "no annual fee" but then charge people with this.
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Didn't Amex start this way with the Maximiser - no annual fee, but a $12 per month fee?
In any case, the way I read the Go T&C is that the $2.95 is not charged if used solely as a credit card (it's the except bit in the phrase). If using the card for one of the promotions you get charged.
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