GO Mastercard 57% Increase In Points Required To Redeem Rewards!!! - Total Rip Job???

Poor Ass on 21/10/2019 - 22:39
Last edited 22/10/2019 - 09:12 by 2 other users

Hi All,

Just sharing something I notice tonight.

I have the GO Mastercard and it's generally a dollar spent per point.

I used to redeem the Coles Myer gift cards (yes they still call it that but group doesn't exist anymore).

In June 2019 I last redeemed a gift card for 38130 points for a $300 gift card that's around $127 spent to get $1 of gift card.

Tonight 21/10/19 I logged in and saw it is now 60000 points for $300 gift card that's now 200 spend for $1 oft gift card.

THAT'S AN INSANE 57% MARK UP TO REDEEM GIFT CARDS AND POSSIBLY OTHER REWARDS TOO.

Not sure about other credit cards but surely someone has to notice this??? Has anyone seen this happen before??? Really disappointed!!!

Financial Credit Card

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Comments

  • zonra on 21/10/2019 - 22:43
    +8

    LATITUDE CREDIT CARD 57% INCREASE IN POINTS REQUIRED TO REDEEM REWARDS!!! - GO MASTERCARD , LATITUDE INFINITY - TOTAL RIP JOB???

    WHY ARE YOU SHOUTING?

    • Poor Ass on 21/10/2019 - 22:44
      +4

      because i'm pissed?

      • zonra on 21/10/2019 - 22:48
        -2

        Did they force you to continue using the card?

        • Poor Ass on 21/10/2019 - 22:51
          +2

          you're missing the point

          the points are not worth much as they were now

    • blitz on 21/10/2019 - 23:24

      I LOVE LAMP

  • kipps on 21/10/2019 - 22:43
    +4

    Caps lock is cruise control for cool

  • [Deactivated] on 21/10/2019 - 22:50

    Look on the bright side. At least it's a round number now.

    • Poor Ass on 21/10/2019 - 22:51

      perfect for OCD

  • xuqi on 21/10/2019 - 22:56

    Hey OP they also impose; Points are capped at 100,000 per year.

    https://www.gomastercard.com.au/features/

    • Poor Ass on 21/10/2019 - 22:57

      that's not an issue with me… most people don't spend over $100000 a year on their cc

      • OzCheapo on 22/10/2019 - 00:08

        Obviously you're not buying enough high investment vehicles or Eneloops now are you. Peasant.

        • Poor Ass on 22/10/2019 - 20:01

          I prefer pleb thank you very much

  • netjock on 21/10/2019 - 23:27
    +2

    Time to vote with your feet.

  • bdl on 21/10/2019 - 23:38
    +2

    For Latitude Infinity it's still 30000 points for $300 card - https://www.infinityrewards.com.au/Catalogue.a2?Page=ViewPro…

    Not sure about other credit cards but surely someone has to notice this???

    If you're not sure about the Latitude Infinity product, probably best not to put it in the title of your post since you only have a GO Mastercard product.

    • Poor Ass on 21/10/2019 - 23:57

      Yes boss

  • [Deactivated] on 22/10/2019 - 15:53

    $300 gift card was never 38130 points

    • Poor Ass on 22/10/2019 - 16:37

      lol are you seeking a screen shot?

      • [Deactivated] on 22/10/2019 - 16:57

        odd no's , something's up

        • Poor Ass on 22/10/2019 - 20:00

          Not odd… That's what it was. Now it's 60000 points

          Credit card said they adjusted so that points are paid on interest now but is actually worse off for redeeming points

  • vikvance on 23/10/2019 - 07:47

    Has anyone seen this happen before???

    It happens all the time.

    For example, in April this year, Amex changed the conversion rate on my David Jones Amex card from: 1 Reward Point = 0.75 Qantas point, to: 1 Reward Point = 0.5 Qantas point.

    Starting from 2017, the Reserve Bank restricted the fees that card providers can charge merchants. This reduces the card providers' profits and they will, of course, respond by gradually reducing the benefits that they provide to their card-holders, so that their profit margins are restored.

    Here is PointHacks' article on the impact of the Reserve Bank's changes on Credit Card rewards programs:
    https://www.pointhacks.com.au/rba-interchange-decision-analy…

    • Poor Ass on 23/10/2019 - 11:31

      can relate but reward point is same just cost more points to redeem rewards now

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