Applying for a new credit card.

November 9, 2009 by
Filed under: Banks, Cost of living, General Budgeting 

Well, it was easy enough to apply – just fill in an online form at Kiwibank.

If only.

So first off – why on earth would I want a new credit card? I’m not a fan of them, and yet I already have three. The problem is the major rip-off that is most reward schemes in New Zealand. The misleading “Flybuys” that so many people go to great lengths to accumulate will only let you actually transfer points into Air New Zealand Airdollars if you own a BNZ global plus credit card. As we had to give ours up – due to BNZ allowing other people to use our credit card details with impunity, and then getting shitty with us when we dared to object to their incompetence –we are no longer able to use “Fly”buys to – well – fly anywhere. (And the other things you can buy with them are a waste of time anyway.)

However we did quite well with our ASB cards. ASB run a rewards program, which costs $10 ever six months, for each person on each card (so with 3 joint cards that’s $60 every 6 months). Because all our spending goes on Credit cards – we were making enough points for that to be worth it.

Except ASB, in the way that only banks can be stupid enough to do – keep altering the scheme to make it less attractive. First – they stopped allowing you to use your points to pay your bank fees – which is something I thought was brilliant. (I really don’t want a bleedin’ toaster – but a cut in bank fees is worth real money). Then, just recently – they have decided that we can no longer change our True Rewards in Airpoints Dollars at Air New Zealand. So we have arranged with our manager that next time our TR fees becomes payable – we are removing it for two of the cards as we don’t do enough business on them to make it worth the cost.

Step in Kiwibank.

They are now offering a GoFly Credit card – where for every $150 spent you get $1 in Airpoints dollars. With a platinum card – you get $1 for every $90 spent.


Magic.

And the best bit – although the card fees are slightly higher – you don’t pay extra to join the reward scheme (they can set up an Airdollars account for free – saving the $50 that Air New Zealand want to scam you for). So we are going to pay a whole dollar more ever 6 months on our fees. I think I can live with that.

Really – the only downside was the application process. I filled in the online form, but it won’t let you apply for joint accounts online. So I applied in Hubby’s name (as he is the one with the income), and then phoned to add some details to let them know this would be a replacement card rather than an application for extra credit. Only Kiwibank at this point need Hubby’s Permission to speak to me.

WHAT???

I’ve just applied for a credit card for him – and now he needs to give permission? Because it’s HIS account – not a joint account. Well – can we make it a joint account I asked – since that’s what we really want in the first place? No – not without his permission.

Mad

Thankfully Hubby was here – so I threw the phone at him and asked acidly if he would give Kiwibank “permission” to speak to such a lowlife as myself. When he stopped laughing – we managed to get the account application converted to a joint one – where now I am considered eligible to be spoken to.

Sheesh – banks. Hate them all.

We should know by the end of the week if Kiwibank consider us worthy to have an account with them. If they have any brains they will – because we are looking at alternative banks for our mortgages all the time – and this is a way of showing us that they are a bank worth doing business with. It never ceases to amaze me how much the New Zealand banks see their customers and potential customers as if they are something they have just stepped in – rather than the source of their much needed income.

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Comments

3 Comments on Applying for a new credit card.

  1. Deborah on Mon, 9th Nov 2009 3:17 pm

    2. I Lurve KiwiBank!

    Anytime they want to charge me for a service (like a mortgage) and they mention what the charge is, I tell them I really don’t want to pay a fee, thank you very much. Ok then, we’ll waive the fee no problem. Oh and we’ll give you a $1000 towards your lawyers fees too. Ha!

    I’m also impressed with the way they dealt with a complaint I had when dealing with their customer service over a possible security breach. They were efficient and courteous with their response and sorted the matter out in consultation with me.

    Deborah

  2. Avalon on Tue, 10th Nov 2009 8:29 pm

    3. Okay – score one for Kiwibank :) Its nice to here some good news.

    ASB also used to waive all their fees – but thye have got quite draconian in the past two years – hence why I want to remove some business from them. I think they should not get complacent :)

  3. Domestic Executive on Thu, 12th Nov 2009 9:29 am

    4. I still can’t get over the fact that we have to pay fees at all. It drives me nuts that for me to process a payment over the internet and then they charge me for doing it. As for the credit cards – Westpac just sent us another Hotpoints card with American Express but it singularly fails to work buying on the internet. Grr. Good luck with the kiwi bank thing. I got a Globalplus visa card to collect ANZ points but it seems that you need to spend a zillion $ with them to get any points. It’s hopeless. I preferred the cash back system there was in the UK!

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