Bankwest Mastercard Just Changed My Interest Free Period from 55 Days to 44 Days

[Deactivated] on 25/05/2016 - 13:47

I have a Bankwest More MasterCard (Came with the homeloan), and just recieved the following email:

Changes to your interest free period
The maximum duration of the interest free period for your Bankwest More MasterCard will be changing from a period of 55 days to 44 days from your next statement day on or after 20 June 2016. Please note this means that your payment due date will fall approximately 11 days earlier than your current due date.

If you have a payment set up that is aligned to your due date then this will automatically change to reflect the new due date. Please ensure that you have sufficient funds from your source account so as not to incur penalty fees. If you have set up recurring payments on fixed dates then please ensure you adjust any payments to reflect the shorter interest free period.

Anyone else with a MasterCard get this message? I guess I will be using my Amex more often now :-/

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Comments

  • [Deactivated] on 25/05/2016 - 13:57
    -8

    Considering that there are people who are starving to death around the world, a 10-day reduction of the interest free period on a credit card doesn't seem all that bad…

    • tomsco on 25/05/2016 - 14:48

      Come on, a lot of the posts on here seem trivial if you compare to people starving throughout the world.

    • [Deactivated] on 26/05/2016 - 08:36
      +2

      I rung up BankWest and told them this. They said they are still going ahead with the 10 day cut. Thanks for the help though.

      • [Deactivated] on 26/05/2016 - 09:06

        What a shame :(

  • tomclancy on 25/05/2016 - 14:04
    +1

    Please fix the title - Bankwest changed their terms, not Mastercard. Live action!

  • donbot on 25/05/2016 - 14:25

    I received a letter yesterday outlining the same change, but a few more details:

    • Bankwest More Rewards is changing the value of its points from 4 July (I'm assuming for the worse - things never get better)

    • 55 days down to 44 days

    • Inviting me to upgrade to Bankwest More World Mastercard… which from what it tells me gives me 2.5 bankwest points (Not QFF) per dollar as opposed to 2 with the platinum. $100 voucher for coles is currently worth 28,000 bankwest points ($14,000 spend).

    Not accepting the invitation yet - want to know more about what is happening to the platinum card first as the extra $60/year fee doesnt seem worth it on face value.

  • leeroys_dad on 26/05/2016 - 00:32

    The points are being devalued. Follow the links to find out more. It says they encourage you to redeem points now

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