There is no application fee, no contract period and no exit fee, plus they are offering $50 credit to your account if you apply and activate before 23rd December. 45 days interest free, and interest rate from 14.9% p.a. $5 monthly fee waived for the first 6 months. You receive $25 on activation and $25 after 3 months.
Interesting indeed. If I can pay via CC (get my 1% back then) then its a GO.
"OnceOnline offers a line of credit* which you can use to pay over 14,000 billers. You can choose to pay off your line of credit in full at the most convenient time, or in installments over time, allowing you to smooth out the ‘ups and downs’.
…
*45 days interest free, and interest rate from 14.9% p.a"
Can you use this to pay for credit card with 45 days interest free???
Yes, I believe you can.
http://www.onceonline.com.au/onceonline/238.aspx
Which means if you have a credit card with up to 55 days interest free - and you use this to pay your credit card bill - then you get 45 days to pay off Once - which means that effectively you get up to 100 days interest free on purchases (depends on timing of billing dates of course)
Has anyone signed up and already received the $25 credit yet?
Read : $5 monthly fee will be waived for the first 6 months
Great catch @yeohkt! Well, there is no free lunch, hmm I mean no free credit.
If there is another company offering the same service, we can actually pay it off by another company, then again pay another company by once. Virtually you can use that money forever for free.
The online application is crab. It doesn't work on IE or firebox. Too bad!
I signed up for a week now.
Used it to pay a few bills - and seems to work okay.
However, I still have not received the $25 that they say "upon activation"
Finally I got signed up by ringing them and the application was approved on the spot. The user name and password were given at the same time. Had difficulty login in and had to ring them again. I didn't see $25 promised either.
The IT part is really bad but the customer service is good.
I received the $25 credit today - so all is good
It appears as a credit deducted from the amount you have used paying your bills.
Should get another $25 after 3 months.
Interesting product. It is like a credit card with 45 days of interest free period, but can only be used to pay bills but always pay them on time for you. A + for you!
Let me see whether there are other reviews online.