[kristo]

I am a Westpac Gold Altitude customer. I was just about to cancel my Card in response to the $125 annual fee and the treatment with my lost Ansett points. I have been a Westpac card holder since 1972/3 and as a compliment to Westpac have never had to pay a fee or interest in all that time.
However, Westpac have today offered me a companion Amex card with a fee free year but no fee waiver in future( we shall see about that) , plus 2 points per dollar as a points earning rate plus a waiver of the last Altitude fee as a dollar spent on card waiver.
This is much better than ANZ, who , from memory offered me a Diners a 1 point per dollar.
Has anyone else received this offer or better?

Note: As a point of interest the Westpac Amex card is owned by Westpac, but , for example, the AMP Amex is owned by American Express.

[spunkarooney]

I'm keenly awaiting my information. I wish that they'd also make it available on the web site.

Aren't they supposed to give us 30 days notice of terms and condition changes (or something like that)?

[oz_mark]

Given that I have already got an AMEX AMEX (fee free for life, but no rewards), and a AMP AMEX (with the normal fees), I struggle to see how Westpac are going to entice me with a WESTPAC AMEX.

My ANZ card has gone, looks like the Altitude card is next on the hit list.

[kristo]

Personally I am NOT the slightest bit interested in a card unless it has a reward scheme.
I will never pay interest or fees to a bank for a card or anything else I can avoid.
Remember the old saying, banks are for OUR profit not for theirs.
Interest free credit cards with interest free periods up to 55 days ( and sometimes the debit takes 9 months to appear on the card) are really the only way to go.

Anything else may be considered playing into the banks hands.

So a free Amex card that gives 2 points per dollar is fine with me.

[spunkarooney]

This was added to Westpac's media releases today:

20 February 2004

Changes to Altitude
http://www.westpac.com.au/internet/p...+February+2004

Westpac has announced changes to its Altitude credit card program including a reduction in the conversion rate of Altitude points to airline frequent flyer points and the introduction of the Altitude American Express Credit Card with an enhanced points earning rate.

The Altitude MasterCard and Visa points earning rate will remain at one Altitude point per one dollar spent (or as specified by Bonus Partners) and the comprehensive alternative redemption options, including travel rewards, will be maintained.

From 9 March 2004, the redemption rate for converting Altitude points into airline frequent flyer points will reduce from one to 0.5 frequent flyer point for every one Altitude reward point earned.

Westpac has reviewed its products and pricing following the structural and regulatory changes to the credit card market.

Paul Lilley, Westpac's General Manager Sales & Service, said the majority of Altitude customers would not be adversely affected by the change.

"Alternative ways to claim travel rewards, such as booking flights direct with the Altitude Travel service or redeeming travel vouchers for Virgin Blue flights are not impacted," he said.

"Despite the changes to the credit card market in the last year that have significantly increased the cost of providing the card, the points earning rate on the Altitude MasterCard and Visa will be maintained.

"However, we have had to make a change to the most costly redemption option, the purchase of airline frequent flyer points."

Altitude offers six redemption options: airline frequent flyer points, shopping and travel vouchers, products, Altitude Travel service, fee offsets and donations to charities.

The change to the frequent flyer redemption rate will only apply to purchases made after 9 March 2004. It is not retrospective.

In partnership with American Express, the Altitude program is being enhanced by introducing a companion card to the Altitude program.

The Altitude American Express Credit Card will have a points earning rate of two Altitude points per one dollar spent.

Customers choosing to take up the companion card will have it linked to their existing Altitude account seamlessly providing one statement, one Altitude points balance and one credit limit.

Existing Altitude customers will be offered the new Altitude American Express Credit Card in the mail in the next few weeks. It will also be available to new customers. The Altitude American Express will cost $45 per annum, and this will be waived in the first year for customers who take up the offer before 30 April 2004.

Customers should phone 1300 797 100 for more information.

[egoode]

For more information on the changes to the program go to this site

http://www.westpacinfo.com.au/altitude/

[alien]

For now I've taken up the offer of the companion card. Be damned if I'm going to be paying $125 for the Gold + $45 ($170 a year) within the next 12 months. Sure hope some better program comes along.

[alien]

Well turns out that Westpac will be charging me $150 for both cards Jan 02.

Originally Posted by alien

Well turns out that Westpac will be charging me $150 for both cards Jan 02.

if you have done over 100k in purchases in the past 12 months on your card they will waive the fees.

But look at it from their point of view.... if you dont pay your yearly fee, how the heck will their board of directors be able to afford new homes, fast cars, llavish 9 star holidays and their cocaine habbits?

::2cents::

[alien]

if you have done over 100k in purchases in the past 12 months on your card they will waive the fees

Yes i thought there was a waiver fee however could never find it listed anywhere once they removed it from the site. It used to be if you spent over a certain amount per year.

Is this in the T&C?????????????