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tardtasticx

3075 posts

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#99431 19-Mar-2012 15:15
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So I'm trying to get a credit score and thought a credit card would be the best way to do that, since I'll only be spending money I have in my everyday account anyway. So I signed up for one with the tertiary package at my bank since I'm starting uni this year.

Well I was approved for the card about a week before we were due to move so I told them to send my MasterCard to the branch and I would pick it up from there so that it wouldn't fall into the wrong hands. Got a call on the day of moving and was told it was ready to collect so I went and got it, confirmed my new address had been put on all my accounts (I changed the address online about 3-4 days prior to collecting said card) and the teller said the address had been changed successfully.

About a week ago I was due to receive my first statement, so I checked the mail and sure enough it arrived, but with a yellow redirection sticker on the front of the envelope showing it had been redirected by NZPost from our old address to our new one (we paid for this, the letter wasn't returned or anything) and opened it to see my old address printed at the top. Called the bank to find out why and they said my address was correct so I left it at that for the time being, and messaged the bank on Twitter instead, they told me my account statement had been printed two days before my address was changed, but that couldnt have been possible because I would have received a blank statement if they had, since I couldn't have used the card at all since it wasn't in my possession. 

What if we didn't have redirection on? My statement would have ended up at the old house and in the hands of the owners who could have done anything. Seriously not happy about this. Someone along the lines is telling porkies, or is this standard practice to take a month to change address on a credit card?

-Sam 

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johnr
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  #597209 19-Mar-2012 15:28
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Lets start again Sam

Your full credit card number will not be printed on the credit card statement it will also not include the 3 digit security code on the back of the card, Banks are smarter than this!

With ASB you can stop credit card statements online now and just view the transactions online which I think would suit most customers better

Wait till next month and if it ends up at the old address contact the bank again and jump up and down!

John



scuwp
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  #597210 19-Mar-2012 15:33
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Why don't you opt out of receiving paper statements? I think most cards offer this facility now.

Most places now need the security code which is only printed on the actual card before the transaction will be accepted. My guess is if the number was used fraudulently you would be covered by the credit card company anyway.





Lazy is such an ugly word, I prefer to call it selective participation



stevenz
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  #597218 19-Mar-2012 15:38
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National Bank will not let you opt-out of paper statements for credit cards, only your regular accounts.

At least, there's no option to do so on the website whereas there is for the regular accounts. I've not asked in the branch.






sleemanj
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  #597385 19-Mar-2012 21:05
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johnr:Your full credit card number will not be printed on the credit card statement


Heh, back up there John, my full credit card number is printed on my Statement (BNZ GlobalPlus Gold VISA).

Of course it doesn't include the Expiry or the CVC.
 




---
James Sleeman
I sell lots of stuff for electronic enthusiasts...


tigercorp
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  #597386 19-Mar-2012 21:12
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sleemanj: ...my full credit card number is printed on my Statement (BNZ GlobalPlus Gold VISA).

Of course it doesn't include the Expiry or the CVC.
 


Still... wow. 

stevenz
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  #597511 20-Mar-2012 09:50
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sleemanj:
johnr:Your full credit card number will not be printed on the credit card statement


Heh, back up there John, my full credit card number is printed on my Statement (BNZ GlobalPlus Gold VISA).

Of course it doesn't include the Expiry or the CVC.
 



Compare the number printed on the statement to the number on the card, there's good odds it will be a couple of digits out.
 




sleemanj
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  #597531 20-Mar-2012 10:19
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stevenz:


Compare the number printed on the statement to the number on the card, there's good odds it will be a couple of digits out.
 


Nope.  Identical 




---
James Sleeman
I sell lots of stuff for electronic enthusiasts...


 
 
 

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Kyanar
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  #597534 20-Mar-2012 10:20
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tardtasticx: So I'm trying to get a credit score and thought a credit card would be the best way to do that, since I'll only be spending money I have in my everyday account anyway. So I signed up for one with the tertiary package at my bank since I'm starting uni this year.


I'll just ignore the rest and concentrate on this - in New Zealand, credit reporting agencies operate on a negative reporting model.  This is to say, they only know about the bad things you do.  If you have a credit card and religiously pay it off, the only organisation that this affects your ability to obtain credit with is the card issuer.  There's no such thing as a credit score in New Zealand.  If your goal is to improve your credit rating, you are going about it the wrong way - because there is no way to do it.  If you have no credit record then you will continue to have no credit record until you default.  If you do have a bad credit record the only way to fix it is wait seven years.

sidefx
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  #597559 20-Mar-2012 11:05
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Must say NZ banks seemed fairly relaxed about security compared to banks I dealt with living in the UK for a couple of years.  I was a little suprised on returning that: 

1) My bank seems to send out credit cards by snail mail fully activated (I would expect to get the card and either have to call a number, answer some security questions then have it activated - or go into a branch to activate it)

2) Kiwibank has a mouse driven "fill in 2 random letters of this question" check and my bank in the UK had something similar for online banking. My other NZ bank however just has a customer number + password. I'm careful where I use it but surely anyone who's not is liable to get pwned by a simple keylogger or just someone watching over the shoulder.

3) When ringing up for phone banking I can never remember my "phone banking pin" so ask them to verify my identity by questions - My NZ bank always seems to ask the SAME 2 security questions. UK bank asks random questions from a list...







"I was born not knowing and have had only a little time to change that here and there."         | Octopus Energy | Sharesies
              - Richard Feynman


jbard
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  #597569 20-Mar-2012 11:19
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Kyanar:
tardtasticx: So I'm trying to get a credit score and thought a credit card would be the best way to do that, since I'll only be spending money I have in my everyday account anyway. So I signed up for one with the tertiary package at my bank since I'm starting uni this year.


I'll just ignore the rest and concentrate on this - in New Zealand, credit reporting agencies operate on a negative reporting model.  This is to say, they only know about the bad things you do.  If you have a credit card and religiously pay it off, the only organisation that this affects your ability to obtain credit with is the card issuer.  There's no such thing as a credit score in New Zealand.  If your goal is to improve your credit rating, you are going about it the wrong way - because there is no way to do it.  If you have no credit record then you will continue to have no credit record until you default.  If you do have a bad credit record the only way to fix it is wait seven years.


This is not what happened to me, when we first moved to NZ my parents had a good credit rating in the UK but here we couldn't even get a farmers card as we had no previous lending experience.

Getting a credit card or mortgage was out of the question for a few years while they built up their rating. 

tardtasticx

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  #597589 20-Mar-2012 11:37
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The branch manager for the closest branch called me just now, but I'm in the middle of a lecture so have to ring him back later. Will post back as soon as I find out.  I also saw them opening the letter in the branch, it had a sticker over the card telling them to ring a number or something, but the teller peeled it off and let me assign a pin. I could Assign the pin online but its concerning that the card required no arctivation, it was just the act of setting a pin up. This was also addressed to our former address but that was because it was sent before I changed any account details. 

Kyanar
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  #597606 20-Mar-2012 12:12
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jbard: 
This is not what happened to me, when we first moved to NZ my parents had a good credit rating in the UK but here we couldn't even get a farmers card as we had no previous lending experience.

Getting a credit card or mortgage was out of the question for a few years while they built up their rating. 


That's not correct.  You don't "build up" ratings in NZ, because we only use negative reporting.  The reason that they were declined would be because the lenders wanted them to be in the country long enough for any bad history to reflect on their report.  Having a non-existent credit history is good, but only if you have been around long enough that any bad credit habits have a chance to show through.

johnr
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  #597609 20-Mar-2012 12:20
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sleemanj:
johnr:Your full credit card number will not be printed on the credit card statement


Heh, back up there John, my full credit card number is printed on my Statement (BNZ GlobalPlus Gold VISA).

Of course it doesn't include the Expiry or the CVC.
?


Glad I am not a BNZ customer!

vinnieg
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  #597647 20-Mar-2012 13:06
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tardtasticx: I could Assign the pin online but its concerning that the card required no arctivation, it was just the act of setting a pin up. This was also addressed to our former address but that was because it was sent before I changed any account details. 


That's the standard practice at most banks, you get sent a credit card.  Only if you ask them to activate on PIN do they do it.  It's been the same with almost all NationalBank cards I've had, and Kiwibank.   Debit plus are the same.

As JohnR says above, NationalBank statements don't have the same number as your card on them though.  

And if you ever do encounter fraud on your card, Visa/Mastercard are excellent at dealing with it.  Usually having the funds back in your account less than 24 hours later

 




I have moved across the ditch.  Now residing in Melbourne as a VOIP/Video Technical Trainer/Engineer. 

tardtasticx

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  #597810 20-Mar-2012 17:33
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So I called him back, he said hes forwarding the details off to the tech team and they're analysing why it happened because he said its showing the address is changed and stuff so we dont know if the new statement will end up at the old address again, this time it wont be redirected.  So hes going to call me back when he finds out.

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