Farmers Finance and offers of rewards

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13 years 7 months ago #15851 by Isla
If you're a Farmers Card holder, look out for an offer which comes by email, asking you to join what looks like a free rewards scheme called Yourrewards. What the email doesn't say, and requires scrolling down the first browser screen if you click to join, is that they'll charge you $15 twice a year to belong! Bloody cheek. You can opt out within 30 days - and I bet there's a fair old queue to do that when people see the charge on their statements!

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13 years 7 months ago #240165 by Ronney
Just about all of these things come with a cost and I look for the cost. In fact, I'm on a roll at the moment with the other half. Mastercard - Service Fee: $17.50 twice a year, True Rewards: $5.00 twice a year. BNZ Visa (never used) - $15.12 twice a year. Q Card: $12.50 twice a year, GE Creditline: $25.00 annually. How the hell did somebody get into a position where we are making so many donations to banks and finance companies. Apart from the Mastercard, the rest will be going west.

Money is getting tight and it's showing. The mailbox is full of deals and sadly, too many people fall for them.

Cheers,
Ronnie

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13 years 7 months ago #240169 by beedee
EEEEkk I shall have to check my cards, butr dont think I have any that do except Visa.. but they offered to up my credit level to over $15k which is about my annual wage so I was quick to tell them where to go.. no wonder the world is in a mess.. I only ever want a round the world air line ticket ability in case I wanna go away for a while.
Dont think I will renew my petrol cards this coming year either.

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13 years 7 months ago #240182 by Isla
I had a Q for a while, since I was unable to take advantage of a int. free deal without getting it at the time of purchase. A couple of years later the fees started. I phoned in high dudgeon and told them what I thought they could do with that sort of "deal".

We do not have multiple cards and those we do hav pay us to have them - a fuel card which accesses more discounts than it costs; a visa with a cash-back which pays more than it costs. Anything else with fees either doesn't get applied for, or gets closed, promptly.

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13 years 7 months ago #240184 by reggit
Watch out with credit cards too - some banks have two sorts of credit cards, one with rewards (around 22% interest) and one without (around 12% interest). They don't advertise it well, surprise surprise!

Also Westpac looks like is pulling a swifty on us existing mortgage holders, they now have a floating rate and another floating rate!! One is much lower and is the one that is being touted in articles, the other is the one that it looks like us existing folk are on that allows draw down once a bit paid off (which they all used to do) and is about .75% higher interest rate - the cads!

Take a break...while I take care of your home, your block, your pets, your stock! [;)] PM me...

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13 years 7 months ago #240190 by Celtic_Kiwi
Yes, we are down sizing our cards/debt.

All the little fees here and there soon add up.

Celtic_Kiwi
AKA Nikki

Tir Na NOg

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13 years 7 months ago #240247 by Dream Weaver
My eldest son works in a Bank. He said alot of people have been coming in lately to cancell their credit cards. They are asked to make sure it is what they want as apparrently it is going to get very hard to get credit cards, so before people close theirs they are told to make very sure its what they want.

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13 years 7 months ago #240281 by max2
We have just a visa now, and an aussie one at that with rewards but its linked to a ""wealth package"" with our aussie housing mortgage because of the size of debt.

We converted it just before arriving in NZ and dropped .75% off our mortgage by doing so, plus $20 per month mortgage fees etc. Best decision we ever made... I recall our mortgage dropped from nearly 10% to 7.00%.

also just transferred our BNZ variable loan at 10.25% to their 6.99% offer for 6 months.. there are some deals now, but not as good as the UK or USA where its nearly 0%. :(

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