Warehouse money visa card

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Forums › Finance and wealth management › Warehouse money visa card

surfisup1000

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#248507 28-Mar-2019 20:55

Anyone get the email last week they are now charging a $50 annual fee?

So, I cancelled my card. Along with almost everyone else because it took me an hour to get through to them and the lady said tons of people are cancelling their cards!!!

But, warehouse money are now saying the $50 annual fee was an error!!!! ( i don't believe that , i think they just realised they no longer have any customers and reversed their decision).

Too late, cancelled my card already.

This is really really bad by warehouse money! They destroyed their own business by not proofreading!

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#2206683 28-Mar-2019 21:25

I too got the original email, and also spent about 40 minutes waiting to talk to a CSR. I asked them, though, whether the charge applied from 1 April for all cards (as the email implied), or from the card's anniversary. They confirmed it was the latter, and given my anniversary is apparently March I decided to keep the account open until next March.

I only have the card for the 5% discount, so certainly planned to get rid of it before my first charge next March, so luckily will just retain it now the decision has been reversed/corrected.

Kraven

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#2206686 28-Mar-2019 21:33

I too was going to cancel, but gave up after two minutes on hold and sent them a message via the online portal.

Gist of the message was either cancel the fee or cancel the card. Haven't had a response as yet (sent on Friday) but I intend to keep on using it now they have corrected their "error".

mattwnz

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#2206702 28-Mar-2019 22:03

That is odd because it showed the new fee in the documents on their website for that card, as I wanted to check it wasn't an error when I got the email. I see the annual fee now is $0 on the fees page. I emailed them a week ago to cancel the card due as a result of the new fee and for them to confirm, but never heard back from them. So not sure where it is now at, but it looks like my account is still open when I log in.

Hobchild

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#2207359 29-Mar-2019 20:42

Looks like an annual fee of $55 does indeed apply to the Purple card. I will have to cancel it, makes the rewards almost obsolete. Thank you OP for bringing this to my attention, the mentioned email went to my spam folder so I hadn't received it.

KrazyKid

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#2207400 29-Mar-2019 23:30

Interesting. I never received an email as far as I can tell. I have the warehouse money red card for the 5% off.
Currently their website lists the purple card as having the annual fee and the red card having a $0 annual fee.

Not sure what is going on. I recall that the warehouse sold it's credit cards recently. Maybe the new owner wants to make some more $$$.

mattwnz

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#2207404 29-Mar-2019 23:48

KrazyKid: Interesting. I never received an email as far as I can tell. I have the warehouse money red card for the 5% off.
Currently their website lists the purple card as having the annual fee and the red card having a $0 annual fee.

My parents who also both have the card never got any email either. But they have cancelled the card after I told them, but I don't think they have had any confirmation of cancellation.

The email they sent me initially referred to the warehouse money red card and said

"We're introducing some new fees and changing the interest rates that will apply to your Warehouse Money Visa Card."

Then it listed the $55 annual fee on that which was to from the 1st April. Then they sent an email yesterday to say that that the annual fee was an error , and it should have read $0.

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cddt

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#2210884 4-Apr-2019 19:20

April fools?

If you want a credit card from a proper bank without any fees, ASB does a Visa Lite. No rewards though, but they also promise no fees in perpetuity.

jonathan18

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#2210887 4-Apr-2019 19:29

The only point of having this card, IMO and in my situation, is for that 5% discount at The Warehouse - we only ever use it there, given we have a BNZ cashback card for every other purchase.

I imagine there are a decent number of people in this camp, and then others for whom the card is their primary one, drawn to the lack of annual fees.

KiwiSurfer

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#2210897 4-Apr-2019 20:04

I note from the current fees schedule they charge a $55 establishment fee. I assume this is a fee paid the first time you get a card (in lieu of an annual fee). Is this new? I'd wondered about getting one to get the 5% discount as others have done. Not sure if I'll do so now.

jonathan18

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#2210900 4-Apr-2019 20:12

KiwiSurfer:

I note from the current fees schedule they charge a $55 establishment fee. I assume this is a fee paid the first time you get a card (in lieu of an annual fee). Is this new? I'd wondered about getting one to get the 5% discount as others have done. Not sure if I'll do so now.

I see what you mean - https://www.warehousemoney.co.nz/cards/card-terms-fees

That is indeed a new charge - it was completely free previously, ie no set-up or annual fee. Perhaps this was introduced when they went back on the attempt to introduce an annual charge?

heapsort

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#2426148 24-Feb-2020 09:16

They advertised the $55 annual fee for my rewards card in advance. I got an email 22 March 2019 indicating it would apply from the first annual renewal after 1 April 2019.

It is an annoyance to have an increase in the annual fee from $0 to $55, but there were also new benefits added at that time (like interest-free deals for larger purchases at Noel Leeming, although I don't think I've made use of that yet) and even with the $55 fee I'm still ahead with $300+ in reward dollars each year. Sticking with my card for now.

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Kraven

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#2426155 24-Feb-2020 09:35

heapsort:

They advertised the $55 annual fee for my rewards card in advance. I got an email 22 March 2019 indicating it would apply from the first annual renewal after 1 April 2019.

Have you actually been charged the annual fee? There is no mention of this anywhere I can find on the WM website.

jonathan18

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#2426175 24-Feb-2020 09:51

I asked for this thread to be unlocked as I had received an email saying I'd be charged that $55 annual fee from 1 Apr, so thought they were trying this again - then I realised it was an email from this time last year that I'd snoozed to remind me to cancel the card before its anniversary! What a drongo... and panic avoided...

heapsort

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#2426180 24-Feb-2020 10:02

Kraven:

heapsort:

They advertised the $55 annual fee for my rewards card in advance. I got an email 22 March 2019 indicating it would apply from the first annual renewal after 1 April 2019.

Have you actually been charged the annual fee? There is no mention of this anywhere I can find on the WM website.

I was billed the $55 annual fee on my Purple Visa card for the first time in December 2019 - and as previously mentioned, I received an email indicating the changes to terms and conditions in March 2019.

mattwnz

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#2427013 25-Feb-2020 17:42

Anyone else used this card to purchase from the Warehouse store, through 'the market' website, and not got thh 5% discount? My understanding was that when using the warehouse money card to buy from the warehouses store, you qualify for 5% off off the purchase. However this discount didn't appear to go through when using the warehouse money card and purchasing via the market website, even though it was the warehouse store that sold me it, and the market website does say that the sales contract is directly between myself and the warehouse store. The card processed fine, and even had the warehouse money logo and authentication required thing that texts you a code. I can't seen any exclusions on the warehouse money website that would exclude giving me the discount. Apparently the discount doesn't apply to 'popup warehouse stores', which are those physical stores that popup around the place at christmas. But this isn't a popup store, so I can't see why it wouldn't apply. Normally the discount won't appear until the card has been used to pay, but no discount appeared this time on the receipt

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