This was posted 4 years 5 days ago, and might be an out-dated deal.

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QMasterCard 9 Month Interest Free + Supermarket Christmas Club Card

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QMasterCard 9 Month Interest Free + Supermarket Christmas Club Card
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LAnarchy on 17/12/2020 - 17:06 qmastercard.co.nz (123 clicks)

Hi, just write my first post. For QMasterCard holders, today [17th Dec 2020] is the only day you can get “9 months zero interest, zero payments” on every purchase. I will head to Paknsave and New World to top up my Christmas Club cards.

For every $5 deposit made between 1st December and 29th February, you can redeem $5.32 from 1st December next year. Combined with the QMasterCard deal, pay nothing until 30 September, your two-month return is 6.40%, or 38.40% if annualised. Considered with the current deposit rate offered by banks, it looks a pretty good deal for me.

Maximum $2000 deposit per card exclude bonus, but you can add another card if you need to invest more.

I won't consider Countdown as they only offer 5% bonus.

Groceries Pak'nSave New World

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Q Mastercard

closed Comments

  • eh on 17/12/2020 - 17:16
    +2

    I noticed you annualize the numbers from September while locking up available credit etc now.
    Christmas club offers are ongoing and you should be able to have access to it in a few months anyway.
    The advanced move is to go with countdown IMO. Just deposit it any time before 1 Dec to get the 5% bonus.
    Second year I’m making a deposit in the last week of November to get the 5% near overnight.

    • Anarchy on 17/12/2020 - 17:22
      +1

      Thanks for sharing! I always thought I am only able to use it after a year. Another good way to get a higher interest rate!

    • fretrunner11 on 18/12/2020 - 14:10
      +1

      Thanks for the hack & tips. Always wondered how those Christmas club cards work.

      Then… I got too far into the rabbit hole re: maximum attainable bonus for Countdown.

      The short answer is $499.95
      $9,999*.05 = $499.95

      However it takes an unrealistic effort and locking up capital.:

      "The maximum amount you can load to your Christmas Club account in any given 12 month period is $9,999. Any top ups made that will exceed this amount will be credited back to your bank account."

      The maximum balance your account can hold is $4,999, including any bonus applied. Any top ups made that will result in the maximum balance being exceeded, will not be accepted into your Christmas Club account and will be credited back to your bank account. In practice, this means that the maximum top ups you can make in each period is $4,760, as once the 5% bonus is applied on 1 December, this would approximately reach the maximum balance.

      So this means one needs to strategically spend and empty maximum amount allowed in the account of $4,999.

      The takeaway point is don't go for the maximum $499.95 - best to invest in other more liquid investments hahaha.

      • eh on 18/12/2020 - 14:17

        Get everyone in the household to sign up? 🤔

        If maxing it out, I’m not sure if the bonus gets spent “first”, or “last”.
        So if there’s leftover money in Feb (which you can still use!), do you effectively lose the bonus?
        Planning to leave $10 and see what happens.

        By the way my biggest barrier to maxing out is Christmas Club isn’t accepted online, keep that in mind.

        • fretrunner11 on 18/12/2020 - 14:42

          Household sign up - another great tip!

          True dat. And I wonder if the bonus are calculated with the absolute cumulative top up amount or snapshot in the account as of Nov30.

          Not accepted online?? Yeah that's a shame in this day and age.

    • 36wish on 19/12/2020 - 20:51

      The Countdown bonus amount is only valid for the months of December and January; while the PaknSave one is valid whole year round.

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