FYI all - looks like they're closing down their rewards program
https://latitudefs.zendesk.com/hc/en-au/articles/44065443060…
Last day to earn - 19th Nov, Last day to redeem - 23rd Nov
They've also disable all email redemptions, all gift cards are now by post.
edit: also looks like Go Rewards closing too https://latitudefs.zendesk.com/hc/en-au/articles/44065366023…
Damn! I switched over from Coles a few years ago because Coles basically demolished the points earn rate by excluding government transactions. Is there another card out there that has an effective earn rate of 1% with points being redeemable for woolworths or coles gift cards?
Super sneaky of them to drop the egift card option all of a sudden as well.
I'm devastated by the news, it was a great rewards program. Thanks OP for the heads up on the gift cards being posted.
Is there a similar rewards program out there?
Edit: anyone know if they are using registered mail or regular mail to post gift cards?
I received mine via regular post - literally just the gift card on it's own, no letter or anything else inside. Can't recall how long it took.
I ordered $800 wish gift cards and received them via registered post
Our gift card arrived by registered mail last week
I have an amex with good QFF points but thinking of changing it to the cashback card. I always need a Visa or MasterCard though for places which don't accept Amex. What's the next best Visa/MC with a decent giftcards, cashback or even QFF earn rate?
If you don't mind a debit card - 2% cash back on tap and pay under $100
Have been in finder.com.au, Coles card could be the next best option? 1% return on purchases for the first $3000 per month (in the way of 2 flybuys points per dollar) and then 0.5% return after that (1 flybuys point per dollar).
$99 annual fee, waived first year.
40k bonus sign up points
https://www.finder.com.au/coles-rewards-credit-card
Be careful with the eligible transactions. See: https://www.coles.com.au/content/dam/coles/coles-financial-s…
They exclude a lot of things like government entities, etc so if the bulk of your spending is from those type of transactions, you'll earn very little points.
Another alternative I found on mozo.com.au (first time user of Mozo) is the Kogan Money Black Card.
No annual fee
1 point per dollar on Visa, uncapped
Points don't expire
$100 giftcard = 10,000 points
Something to consider. Will search ozbargain to find more feedback.
Edit: found this
https://www.ozbargain.com.au/node/637257
Great card
I couldn't find any giftcards on the site.. unless I'm blind. Only giftcards are Kogan ones (no WW, Coles, JB, Myer etc) - Kogan giftcards are pretty useless..
Yes this card rewards the user with kogan.com credit… not for me
Here's a google sheet I've started. Ping me cards/links and I can add, I've just run out of time atm. Also any corrections or improvements/clarifications!
https://docs.google.com/spreadsheets/d/1sOHZnPrbex_corrXckEk…
https://www.nab.com.au/personal/credit-cards/nab-rewards-car…
The platinum card pays 1 point for most purchases (there are a few retailers that pay more). You can link your flybuys to it and it will convert 1 nab point to 1 flybuys point at the end of the month, so an effective cashback rate of 0.5%.
The signature card earns a bit more, 1.25 points per dollar spent, but not sure if the annual fee justifies it.
Thanks added.
So far looks like the Coles Card has best ROI with low annual fee and decent 1% return (to $3000 per month)
(if you don't value Kogan.com credit very valuable)
I opened a HSBC Everyday Global Account (transaction a/c) last week. Comes with a debit card.
Pros: no monthly fees, $100 bonus for new customers and 2% cashback when you tap and pay under $100 with debit card, Apple Pay or Google Pay. Works great, cashback hits the account after payment is cleared. Good for buying petrol, groceries and meals.
Cons: Have to deposit $2,000 every month, 2% cashback doesn't work for online purchases, only tap transactions. Public transport fares are excluded from cashback. Limited HSBC ATMs, don't know the fees for using other ATMs.
Can't knock a 2% return, all things considered.
Not bad bellawii. a lot of us buy discounted woolies gift cards for 3% or 4% discount, plus online shop/click and collect.
2% return is great but id say 80% of my shopping is online - won't work for me!
but nice work
Should have added that clause, "this is general advice, everyone's financial circumstances are different …. yada yada" haha :)
I'm the opposite, 90% for me will be over the counter tap transactions. Anyway it's an option to consider.
I get 2% back for topping up my myki…
I'm so sad about this. I've had my Infinity card since the Myer Visa card days… that's over a decade now… =(
This was my card I was going to hold onto foreverrrrrr lol now what to pick?
Don't want Kogan.
Already have a Coles No Annual Fee and 28 degrees - keeping them both. Also have the HSBC 2% cash back card.
I do churn but wonder if there's anything close to Infinity around (as a lot of previous people are asking lol) to hold onto long term.
Infin was also my forever card!
if it helps anyone, i have signed up to coles MC rewards card as this represents best value for me (1% return until the $3k limit where point earn rate drops).
I don't value Kogan card very highly in terms of reward value, but anyone that shops there it would be a good option
i went with Coles MC
It's okay, no android pay (only apple/samsung pay)
no points for Bpays. but I think best value for me so far
No Google pay would kill it for me lol but I think I might get one, going to sit on the fence for a bit (currently have the no annual fee one)
Does anyone know what happens to the Go Latitude Reward points after the program ends?
Their FAQ that's that you need to "redeem your Latitude GO Rewards points by 11:59pm AEDT 23 November 2021 so you don’t lose your accrued points."
Are they able to just annul those points altogether? Isn't the standard practice to send equivalent value gift cards out?
It literally tells you to redeem your points, so that you don't miss out.
As the program is closing, yes they can forfeit your points if you've not used them by the date indicated.
This is a race to the bottom.
Credit cards that are issued by a legacy bank will slowly remove all cashback and rewards. The new breed of cards provided by FinTech will slowly take over the market with their cashback and/or rewards debit cards.
My guess is it's probably signs of future things to come. Buy now pay later has taken over the market and a lot of the companies issue in these cards have started to thin out their lineup as wellers pivot into the BNPL market themselves.
The Infinity card is not even available to new customers so looks like they've already started the process with this product to move it to a grandfathered product most likely to keep it easy to service current debts on the card.
Latitude GO Mastercard will probably take a very similar path once Harvey Norman's conversion to BNPL services take more of a foothold I also would take a guess the only thing that's keeping it around as longer interest free terms.