There's a new card in town

burmans · #1 (**permalink**) 5th June 2006, 01:49 PM

http://earth.com.au/

The double QF points and the 0.99% transfer rate seems quite attractive.

oz_mark · #2 (**permalink**) 5th June 2006, 01:58 PM

Looks to be a better option than Altitude, if you exclusively move your points to the QFF program.

dajop · #3 (**permalink**) 5th June 2006, 05:07 PM

Interesting (small) trap with this card in the fine print...

Quote:

The interest-free period of up to 55 days does not apply to cash advances or Qantas transactions that are eligible for the lower interest rate of 5.99%pa.

So any QF purchases automatically start incurring the 5.99%, quite an inconvenience for those used to the 55 day. But the bonus is an extra bonus point/dollar spent (for $1000 get 1000 pts, but that will cost $5 if it isn't to be paid for a month.

Also notes that Earth+ has a feature "Save on foreign currency transaction charges", but I can't find where this is quantified. Cannot easily find a PDS that should show this.

Mal · #4 (**permalink**) 5th June 2006, 05:23 PM

Quote:

Originally Posted by dajop

Interesting (small) trap with this card in the fine print...

So any QF purchases automatically start incurring the 5.99%, quite an inconvenience for those used to the 55 day. But the bonus is an extra bonus point/dollar spent (for $1000 get 1000 pts, but that will cost $5 if it isn't to be paid for a month.

Also notes that Earth+ has a feature "Save on foreign currency transaction charges", but I can't find where this is quantified. Cannot easily find a PDS that should show this.

The Qantas interest charge isn't an issue - unless you phone up and request the Qantas discount rate... Similar to Commbank's offer of discount % charge on certain puchases (Great Rate, I think it's called). So if you don't request the 5.99% after you've made a purchase, then you pay back the money on the normal terms.

See http://earth.com.au/features/qantasservices.aspx for more info.

As for the foreign currency savings, agree it isn't fully quantified elsewhere. I did find a snippet that suggests the benefit is the following:

" * No Westpac foreign exchange fees for overseas purchases
* No Westpac cash advance fees on overseas ATMs
"

oz_mark · #5 (**permalink**) 5th June 2006, 05:40 PM

Quote:

Originally Posted by dajop

Also notes that Earth+ has a feature "Save on foreign currency transaction charges", but I can't find where this is quantified. Cannot easily find a PDS that should show this.

I am not sure that the product has been formally released just yet, and it looks like there are a few loose ends. I can find references to the PDS, but not the PDS itself.

Nobby · #6 (**permalink**) 5th June 2006, 11:28 PM

Quote:

Originally Posted by oz_mark

I am not sure that the product has been formally released just yet, and it looks like there are a few loose ends. I can find references to the PDS, but not the PDS itself.

You're right, I can't seem to find it either. But they seem to have formally released it enough to play TV ads and have an "apply now" button.

I'm glad to see more competition among rewards cards... it can only be good for us

The Earth+ is a bit odd though... the whole product is pitched as "low rate with rewards", but with Earth+ you pay a higher fee, but get a higher rate. The added benefits of the Earth+ seem pretty vague without these PDSes. I'm not sure why someone would pick Earth+ over Earth, unless the card looks more wanky

But the strangest thing is that it seems like Westpac is hiding the fact that they've issued the card... they only seem to be mentioned in the fine print, and you seen language like

Quote:

You will now be transferred to the secure online application form (powered by Westpac).

I wonder if Earth is a fully Westpac card, or if it's an arrangement like the Virgin Money card, marketed by Virgin but operated by Westpac?

oz_mark · #7 (**permalink**) 6th June 2006, 12:01 AM

Quote:

Originally Posted by Nobby

You're right, I can't seem to find it either. But they seem to have formally released it enough to play TV ads and have an "apply now" button.

Yes, I saw the ads playing on TV tonight, with reference back to the website, so it has been launched.

Quote:

Originally Posted by Nobby

The Earth+ is a bit odd though... the whole product is pitched as "low rate with rewards", but with Earth+ you pay a higher fee, but get a higher rate. The added benefits of the Earth+ seem pretty vague without these PDSes. I'm not sure why someone would pick Earth+ over Earth, unless the card looks more wanky

For someone travelling overseas, the travel insurance and savings on transaction fees could be worthwhile. The rate being higher probably comes out of their financial modelling for the card, haing to price in the insurance and reduced fee income from overseas transaction. If you pay the balance off on time each month, the point is moot.

Quote:

Originally Posted by Nobby

But the strangest thing is that it seems like Westpac is hiding the fact that they've issued the card... they only seem to be mentioned in the fine print, and you seen language like

I wonder if Earth is a fully Westpac card, or if it's an arrangement like the Virgin Money card, marketed by Virgin but operated by Westpac?

I was wondering about this strategy myself. They seem to be distancing it from Westpac, but when you delve into the detail you find that the earth website is owned by Westpac, and makes it pretty clear it is a Westpac product. I guess there is some marketing strategy behind it all.

danhan · #8 (**permalink**) 6th June 2006, 10:50 AM

Quote:

Originally Posted by Nobby

I wonder if Earth is a fully Westpac card, or if it's an arrangement like the Virgin Money card, marketed by Virgin but operated by Westpac?

I have the suspicion that it is actually a Westpac product, as Westpac customers have the option of linking their Earth card to their existing Westpac accounts; something which generally isn't possible with co-branded cards.

Also, the actual application is processed through the Westpac site (unlike Virgin).

Daniel

browski · #9 (**permalink**) 9th June 2006, 10:37 AM

I've taken the plunge and applied on-line for the Eart Card (benefits of Earth+ did not grab me) Next day approval came from Westpac.

I went for it because I want to ditch my green Amex Card. This new card is cheaper than the Amex as well as having the lower interest rate. Obviously my old green amex is a charge card and the new Earth Amex is a credit card - yet to see the pre-approved limit.

This will leave me with the Woolworths mastercard and now the Earth Amex/Mastercard; probably the best combo at the moment for cards around the $40 annual fee with at least a "dollar for point" Rewards Program.

Might post more here later on the approval/collection process and other experiences.

Damien · #10 (**permalink**) 9th June 2006, 10:41 AM

Quote:

Originally Posted by browski

I've taken the plunge and applied on-line for the Eart Card (benefits of Earth+ did not grab me) Next day approval came from Westpac.

........

Might post more here later on the approval/collection process and other experiences.

Please do. I'm seriously considering replacing my current Amex cards with this one. I really don't use the charge card enough anymore to justify the annual fee - the credit version suits me fine.