Bye Bye, Commonwealth Bank Credit Card... I WIN, U LOSE!!!

dmc900 on 20/05/2012 - 19:52

Opened up a CBA Credit Card when they had $100 bonus sign-up credit with an intention to seriously use it as a credit card.

I've used it for a couple of months now and am happy with everything until it come time to pay up. I tried paying my bill with a transfer from my NetBank Saver account only to find I get the following error message

"You can only transfer between a NetBank Saver and its linked transaction account. You are also unable to schedule future transactions from a NetBank Saver.
(Error Message No. FE5_281)"

I tried again using a different method via, "View Repayment Details" button and when I go to pay "closing balance" It doesn't have my "NetBank Saver" account listed.

It does have my "Smart Access" (my debit card account) which I was going to close as it's pointless having two cards. But why should I have to pay with my Debit Card account when all my funds are in my "NetBank Saver", surely I could transfer from "NetBank Saver" to "Smart Access" to "Credit Card" account, but I shouldn't have to!

Why o, why do you do this to me CBA. Now I'm going to cancel my CC account, your loss. You paid me a free $80 for signing up for an account now you going to lose it all for nothing.

Financial

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Commonwealth Bank
Commonwealth Bank

Comments

  • CuteBirdy on 20/05/2012 - 19:58
    +5

    They have all your private income information, and you used up some of your credit rating applying for the card, so it's not all "you win". Best not to play around with credit cards for the sake of a few dollars.

    To answer your question, they don't want you to leave all your money in the Netsaver and do all your transactions from it, because that means you'll never have your money in their 0% interest account. But it's so easy transferring from Netsaver to transaction account, happens the instant you request it online. And there's no harm in having 2 cards, just don't use 1 of them.

  • YadaYadaYada on 20/05/2012 - 20:02
    +3

    Yes that is the way it's always been. You can't transfer money out of a netbank saver account to any other account but the linked one. Lame, but that is how most other high interest online savings accounts are designed if I'm not mistaken (correct me if I'm wrong).

    I know that if you don't want 2 cards, you can link your savings account to your credit card so you can withdraw from your savings (ie smart access or whatever transaction account) using your credit card as an access key.

  • Paul Atreides on 20/05/2012 - 22:25

    heres a tip: rid the card, keep the account.

    or waste your time closing all 3 accounts and getting everything sorted so you get paid to the right account.

  • whitty on 27/05/2012 - 10:34

    I'm not sure how long you spent setting up the accounts and now time spent changing them all to someone else but I doubt the hourly rate will be that impressive. I guess it depends how many automatic payments you make and how much you value your time.

    It sounds like you're gloating about a win, when the reality is you didn't understand the accounts you setup. I'd also check there isn't a fee for cancelling in the first year or something similar as a lot of cards have an annual fee that is waived for the first year.

  • freemoneyhunter on 04/07/2012 - 17:30

    Yes that was a pain for me as well, I just use ing account to take money out of their atm & I walk into the bank and pay the credit card with cash.

    The guy said I could deposit the cash into the atm with the envolope, lol no way, I don't trust them.

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