Westpac Credit Card Annual Fee Treated as PURCHASE

Lfishandchips on 25/09/2014 - 00:11
Last edited 25/09/2014 - 00:21

I received my WESTPAC credit card statement, second statement.
I am not using this credit card at all, this card is for my balance transfer 15 months 0%, for annual Fee of $45.
On my first statement stated:
My Balance transfer $xxx amount.
Purchase 14% $45 (This is my annual fee),
Minimum payment $xxx.
SO I made my minimum payment $xxx + $45, three days before due date.

On my second statement that I received two days ago, stated:
My balance transfer $xxx - $xxx minimum payment from first statement.
Purchase 14% $0.37 (?????????????????)

So I called the bank today, asked them what is the 37 cents for, the operator on the other side said "Oh sorry it must be computer glitch. I will get rid off the 37 cents, so sorry about that".

So people please check all your credit card statement, if Westpac put your card annual fee under purchase, this mean it will charge you "Interest form the day they put under purchase.

If this happen to me that mean it is not computer glitch…..Imagine they have 1million customer and they do that to everyone of them, one year they earning extra, $0.37 x 1,000,000 customer = $370,000.

Financial

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Comments

  • ozhunter on 25/09/2014 - 00:14
    -1

    Aren't all annual fees treated as a purchase?

    • forumninja on 25/09/2014 - 01:47
      +2

      It shouldn't be. You normally don't get reward points with annual fees. Normally it gets charged the Fees category.

  • tooblue on 26/09/2014 - 11:20

    Similar situation with my ANZ CC, $87 annual fee charged within 0% BT rate period.

    I was told by ANZ staff: although all payments goes to highest interest rate portion first, I still have to pay the interest on the $87 annual fee incurred between the statement date and the payment date. So if you pay only the minimum + $87 annual fee on the due date, there will be interest payable on next month's bill.

    In my case, despite I paid $87 annual fee on the same day the statement was issued, I was still charged 5 cents for the interest. Too much effort for 5 cents, I just let it go.

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