Warehouse money visa card

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Forums › Finance and wealth management › Warehouse money visa card

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jonathan18

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#2765969 24-Aug-2021 13:31

Received an email about the Warehouse Money card - key text pasted below. Come 27 Mar 22 I'll certainly cancel my new 'Purple' card, as the only times we use the current Warehouse Money card is for the 5% discount at the Warewhare...

We have made the decision for all of our valued customers to enjoy the benefits of a single credit card.

This means that in September 2021 we will be reissuing you and if you have any Additional Cardholders with a Purple Visa Card to use instead of your current Warehouse Money Visa Card. You will still get to enjoy a number of benefits, but simply with a card that has a different look and colour.

• We will reissue you with a Purple Visa Card to replace your Warehouse Money Visa Card in September 2021. The Purple Visa Card Terms and Conditions will apply to your card account from 1 September 2021, however all of your account and customer information (including your card number and PIN, credit limit, card balance and payment details) will remain exactly the same.

• Your current Warehouse Money Visa Card will continue to work until 31 October 2021. After this date you can only use your Purple Visa Card.

• With Christmas just around the corner, we’ve ensured that for 6 months starting 1 September 2021 until 31 March 2022, you’ll continue to receive a 5% discount at The Warehouse on your Purple Visa Card, along with enjoying all of the benefits your Purple Visa Card has to offer.

• Your current Warehouse Money Visa Card Rates and Fees will remain the same on your Purple Visa Card until 28 Mar 2022.

• Then from 28 Mar 2022, only the Purple Visa Card Rates and Fees and reward benefits will apply. It’s important to note there will be changes to your purchase interest rate (to 22.90%), cash advance interest rate (to 25.90%) and a $55 annual card fee will apply. Click here to read all the documents that will apply to your Purple Visa Card. You’ll also receive a copy of these with your Purple Visa Card.

KrazyKid

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#2765974 24-Aug-2021 13:39

Yeah same - I'll be making a diary note to cancel after Xmas.

Hobchild

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#2765977 24-Aug-2021 13:45

I wonder if that means current purple card users will also get a 5% discount for 6 months. Probably not I imagine but it would be good if it did.

Kraven

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#2766001 24-Aug-2021 14:15

Cancelling mine sometime before the changes take effect too. I have it exclusively for the 5% discount at the Warehouse.

mattwnz

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#2766009 24-Aug-2021 14:20

Not good. I will be cancelling mine after xmas as the annual fee doesn't make it worth it.

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#2766034 24-Aug-2021 15:15

Can someone post in this thread after Christmas to remind everyone to cancel their cards!

Having said that, you also don't want to be one of the early cancellers - last time they tried introducing a fee lots of people cancelled (I know 4 others and was about to do so myself) and then they changed their mind but the ones that cancelled couldn't uncancel.

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mattwnz

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#2766043 24-Aug-2021 16:10

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Having said that, you also don't want to be one of the early cancellers - last time they tried introducing a fee lots of people cancelled (I know 4 others and was about to do so myself) and then they changed their mind but the ones that cancelled couldn't uncancel.

Last time after everyone was cancelling the card, they sent out a correction email to say that the fee was an error, and it would still be free, and that the fee only applied to the Purple card. I also cancelled mine, but they then gave me the option not to cancel it. Now they are pushing everyone over to that purple card which has the fee. So effectively the same problem. I doubt they will be backtracking, as they can't say the fee is an error this time. This sort of thing is often the problem when a company takes over another company and they then make changes.

richms

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#2766155 24-Aug-2021 18:33

Kinda glad I never got the card now TBH, almost never shop at the warehouse compared to other places unlike a few years back and this ripping people off by changing the card is just another negative. Have to spend 1000s there to get the fee back in the discount and that will be gone soon so why keep the card?

Richard rich.ms

heapsort

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#2766272 25-Aug-2021 05:42

I've had a Purple Visa for years but it's less beneficial now. The annual fee eventually got added and the points system has been diluted in that time; they used to accumulate faster for purchases at The Warehouse but now it's the same flat rate for every purchase anywhere.

The break-even annual spend to make back the $55 fee is just over $8000. I still spend enough on it to make a net annual $100-200 after deducting the fee. As an alternative to other points reward credit cards (air points etc) it's a reasonable option but probably far from the best one around. I almost never make use of the other benefits (interest free on some large spends; differing monthly discount offers at 1-day, NL, Torpedo7, etc) so there is probably a better fit for me out there somewhere.

One change in its favour: using points has improved from being very difficult to very easy. When I first got the card, points could only be spent at The Warehouse and I had to strike it lucky getting a checkout operator who actually knew what purple dollars were and how to correctly apply them to the purchase. Now, it's simple: just make a purchase with the card at a shop that accepts them and a text asking whether you want to get credited back from your purple dollars balance usually arrives within seconds.

jonb

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#2766314 25-Aug-2021 08:55

Agree it's still good for me, I've bought a few big ticket items at Torpedo 7 and NL and the interest free is great for that. Probably a net $200 a year for me too in rewards, I don't have or want a Gem type card for qualifying for interest free at other places. May be a slightly better one out there but won't be better by much to make it worthwhile.

Username01

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#2784603 26-Sep-2021 16:47

My reading is that your purple card is "activated" at first use, when you immediately become liable for the $55 fee, which you will thereafter be charged annually on this date. It appears also that the 5% discount on purchases ceases on March 31st, 2022. As a consequence my purple card is sliced, diced, & bucketed......

My red card dies of its own volition on October 31st.

#JustSayin...!

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