I have had Westpac Ignite Matercard with no annual fee for ages, I like it.
I have been offered a Platinum Visa card to replace the Mastercard, they assure me the new card has the same conditions of 55days and no annual fee. The new card has the Platinum benefits so I am very tempted.
What could go wrong? Will they change the conditions in the future to a typical $199 yearly fee?
Anyone else in the same position?
Thanks
They shouldn't charge you an annual fee if they say they won't. I also have the same card which I got under the conditions that there was no minimum spend for waiving the annual fee (normally you have to spend $10 000 or $15 000 to get the annual fee waived). It's been over a year since I've had the card and they haven't charged me an annual fee.
Yep. Same boat here. I think I will switch over to the platninum. I've loved the virgin card (which became the ignite card), but am not surprised that Westpac are trying to move customers off it.
I've scoured most of the FAQ's provided in the envelope and it looks as though this one does differ slightly from their regular platinum 55 (eg no annual fee despite usage). Like you the thing that has me most interested are the platinum benefits (travel insurance etc).
Be aware too that they've moved to visa rather than mastercard, but that's not too much of an issue unless you're going to miss out on presales from ticketek or something.
Thanks, I have a couple of months to decide. If you hear anything please let us know. I would like to see a no fee "ever" comment like on the Ignite.
I once had a no fee Amex Gold, after a few years they sent me a letter saying the card was being retired and they were kindly moving me to a $99 a year card. I politely declined.
The T&Cs of Ignite card says no annual fee forever. Is it possible Westpac changes the T&Cs and charge annual fee in future? Are they doing credit check for the Plat card tranfer?
The only slight concern that I have is that the word "forever" is missing. "You will also continue to enjoy the benefit of an ongoing $0 annual fee"
They seem to be using their words carefully.
The old card was very very specific "No annual fee… ever"
The reason for my "concern" is that I am self funded retired. If they charge a fee I will cancel the card but then I have to get a new card where I may have to supply proof of income through my accountant etc.
Pain in the arse.
Got the same offer letter and called the support number. The person assures me that the $0 annual fee is for the life of the card. I would've still preferred it in writing though….
I will take up the offer and cancel the card if they ever start charging an annual fee.
Thanks for that.
The out for them is the "life of the card" comment, I have already had one card retired in an attempt to charge a annual fee.
Yes I will probably take up the offer too but in the new year, I will need to set up the auto-payment option then change the CC number in a few products that debit the card monthly.
I just got offered the Altitude Platinum Card. The terms of the upgrade here.
Wished they had offered me the Platinum 55 days, since it is more likely to remain fee-free into the future.
The Altitude Platinum is usually $150 per year, and has no fee-waiver based on spend (unlike the Platinum 55days). That's why I think Platinum 55 days is more likely to remain fee-free for those who upgrade.
With the Altitude Platinum, I fear not long after the switch, they will charge the fee (usually fee-free for one year for new customers).
Main difference: Platinum 55 days card has better travel insurance, the Altitude Platinum earns points.
This bit in the FAQ is not promising:
If I upgrade, will there be any change to my annual fee?
There will be no change to your annual fee as part of this upgrade. The annual fee may be subject to change and we will provide you with the required notice if this is to occur.
I wonder if I should ask for the Platinum 55 Days instead of the Altitude Platinum? Also, whether they will allow it? Otherwise, perhaps I should just stay with Ignite.
I would stay with Ignite unless you really like and can use points.
Why go from a free card to one they will almost certainly put a fee on in a year or so?
Thanks for your reply. I was reading your thread keenly when you posted, but at that stage I have not received any kind of offer.
I agree, no point switching to the Altitude card. But I am considering asking for the same upgrade that you guys received (Platinum 55 Zero Annual Fee). From the comments here, sounds like your offer has "firmer" assurance about no annual fee into the future (or have I misinterpreted?)
Would appreciate very much if you can tell me:
what wordings were used about no annual free in your offer? It did not say "forever" like ignite, but perhaps something still quite concrete? I googled, but could not find reference to a Platinum 55 Day Zero Annual Fee card.
is there a link describing your offer? (like the one to mine)
That way, I can refer to it, when enquiring about it.
Many thanks in advance.
Also, do you reckon we can stay indefinitely on the ignite card? If they are getting rid of it, won't they simply close our accounts eventually, if we don't accept an offer now?
All the relevant wordings for the offer are already in this thread, there is no link for it as far as I know.
It was heavily insinuated the card would be free sort of forever…..
If they you tell them it was nice knowing you and move to a different provider