With Zip Pay 10% promo coming to an end today, I was just wondering how much money did people save.
https://www.ozbargain.com.au/node/588546
Personally my partner and I saved total of $570. We didn't shop in first week(forgot about it) and also didn't accept limit increase back in Nov, so the saving could have been double.
Which things?
You could have bought Coles, Woolies, Aldi or other GCs where you usually shop.
OzBargain in a nutshell
If you didn't spend during the weekdays and have the standard balance of $1k, and maxed out each Sat, how do you get more than around $440 saving (excluding referrals)?
Maybe pay off the balance. Or maybe OPs wife also has an account and they planned it across both accounts.
Takes more than 1 day to pay off balance. That is, can't double dip on Sat.
Does it take more than one day to pay off, can't you just make manual payments with a VISA card?
Saving of $570 is across 2 accounts. We double dip last week by paying $1200 extra via Bpay.
Did the similar things but the payment is yet to be cleared. Probably due to public holidays, it's still stuck.
@ihbh: Yes it was in credit last Saturday. Essentially I was sitting at over $1500 though my credit limit was only $1000. I was expecting the same thing today but the payment didn't clear.
@Ash-Say: Just going to leave this here:
You cannot prepay your zip account via BPAY so that it goes into credit. I contacted Zip and they informed me that since they’re not a bank they’re not allowed to hold deposits. If you prepay your account you will be breaching their T&Cs and your account may get blocked. It will take a few days to unblock. Do so at your own risk, some have reported success while others have confirmed they got blocked.
From OP's description here:
https://www.ozbargain.com.au/node/588546
Either $60 or $90, can't remember. Mostly on giftcards stacked with Big W 15% off gifrcards. I actually wish I bought even more now. I'll need itunes credit for years ahead. At a certain point maybe you're better off investing spare money.
Hard to get a certain return near 10% p.a., unless you're prone to losing/forgetting to use GCs or take decades to use up.
Note if you take say 2 years to spend the GCs uniformly, then it's still be around 10% p.a.
the other questions are where are you'll stashing the gift cards and how to keep track of it?
Gift cards in draw, use one GC and throw it away and grab next one in draw.
It's a complex system i know but seems to work fine by me
Is there an app to manage multiple gift cards for different retailers ?
Saving assumes a spend, so what mindless items did you buy
Buy cash in the form of cards and pay off necessities (council rates/Rego/CTP/Utilities, etc.) are the real savings achieved. Other spendings may be dubious.
So is everyone just cancelling their zip pay now?
Not until it changes something. It is still a great money tool, one time use VISA card, interest free days on top of credit card, etc.
Anyone used ZIP for foreign purchases??
Reading it today and repenting for not taking advantage of it. How much Iphone 12 Pro Max 256GB would have costed by this from jb ?
not much. because each transaction has a capped of $30 cashback.
Depends on how you would’ve purchased it. What most would’ve done is split it into $300 payments to get a $30 each time.
The first Saturday of the offer they had woolies doing gift cards that could be redeemed for JB cards at 10% off which would made them 19% off with the zip offer (if your store managed to have them available)
Saved couple hundred and wasted couple thousand on things I don't really need.