Warehouse Money Card Discounts Ending

netwalk on 24/08/2021 - 12:50

I've just received notification that the Warehouse Money Visa Card is being replaced with a Purple Visa Card. Buried towards the bottom of the email is the following notification:

With Christmas just around the corner, we’ve ensured that for 6 months starting 1 September 2021 until 31 March 2022, you’ll continue to receive a 5% discount at The Warehouse on your Purple Visa Card, along with enjoying all of the benefits your Purple Visa Card has to offer.

Then from 1 Mar 2022, only the Purple Visa Card Rates and Fees and reward benefits will apply. It’s important to note there will be changes to your purchase interest rate (to 22.90%), cash advance interest rate (to 25.90%) and a $55 annual card fee will apply. Click here to read all the documents that will apply to your Purple Visa Card. You’ll also receive a copy of these with your Purple Visa Card.

So we lose the 5% The Warehouse discount and gain a $55 annual fee.

NO THANK YOU Warehouse Money.

General Discussion

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Comments

  • akrotohur on 24/08/2021 - 12:58
    +3

    I received the same email. I used the red card mainly for the 5% discount @ TWH, the $55 annual fee is not worth it.

  • Senior Mouse on 24/08/2021 - 13:25
    +3

    TLDR:

    The Warehouse Money card will be deactivated on 31/10/21.
    The Purple money card will be reissued to all by 01/09/21.
    New rates and fee will apply from 09/03/22 earliest.

    What does this mean?

    Cons:
    - $55 annual card fee will apply from 09/03/22
    - 5% discount at Warehouse ending 31/03/22
    - Interest rate increase from 19.95% to 22.90% from 09/03/22

    Pros:
    - Spend $150, get $1 Purple dollar. Only usable at Warehouse Group stores, and must have a minimum of $10 Purple dollars to redeem
    - 12 Months interest free on $300+ purchases from Warehouse Group stores until 30/06/22

    • nzmax on 24/08/2021 - 15:48

      How can the interest rate be increasing by such a large amount, that is nearly 2% rise?

  • n908671 on 24/08/2021 - 13:40
    +1

    Got the same email today. Only keep the card for the 5% discount as well. Will cancel the card in Feb next year.

    No point having a purple card - you're better off getting an SBS credit card which is almost the same (cashback instead of purple dollars) but no annual fee saving you $55 a year. SBS owns the Warehouse credit cards too.

    • juderson on 08/09/2021 - 09:17

      hey thanks for mentioning SBS credit card, I've been looking for another cash back type of credit card with no annual fee.
      Are you able to explain what they mean buy eligible transactions, does that mean spending at any store?
      What rewards have you personally redeemed with this card? Cheers

      • Detruire on 03/10/2021 - 20:10

        SBS covers this in their credit card FAQ: "Eligible Transactions are any Transactions other than a Cash Advance, Balance Transfer, fees, interest and insurance payment."

  • rkl on 24/08/2021 - 13:42

    I along with I suspect a massive number of people cancelled the card last time they done something simiilar to this (tried to add a annual fee). They later reversed the decision as I suspect they lost huge numbers of customers they didnt expect.
    Be interesting to see if that happens again.
    (I never re-joined)

    • NeM2k2 on 24/08/2021 - 13:59

      I'll be cancelling again, and uncancelling again if they decide to reverse it (again). I can get better credit card deals through my bank.

      • nzmax on 24/08/2021 - 15:47

        I get my credit card free with my bank. I can live without a 5% discount at warehouse, it may just mean I shop elsewhere. I can't see how this is a good decision. Also aren't those interest rates really high, or is that normal for credit card? Considering the OCR is now nearly at 0%. I always make sure mine is paid off before the date, but some people don't.

  • nzsaver on 24/08/2021 - 15:17
    +1

    So dumb!!!!! They screwed this up so badly last time and this is yet another f**k up!!!

    Stupid PR emails these days that make it sound like you are GETTING something then hiding away the removal of things in the fine print.

    Also such total BS that the $55 p.a. fee is hidden in FINE PRINT. This is barely legal and so many people are going to get caught out.

    They didn't even have the decency to waive the fee in the first year as a goodwill gesture so it's clear that this outfit is run by some muppets.

  • Kiwi on 24/08/2021 - 16:02

    It's been shit since they sold it anyway, so not surprising that it's only benefit is being removed. Will also be cancelling.

  • netwalk on 24/08/2021 - 18:16

    I'm actually thinking there may be one good offer in this whole grubby mess.

    During the Promotional Period (Thursday 1st July 2021 to Thursday 30th June 2022), a 12 Month Interest Free Term will be automatically applied to any purchase totalling (sic) $300 or more on a single Purple Visa Card transaction at any of our Participating Retailers. Visit purplevisa.co.nz/12mif for more information and Terms and Conditions that apply.

    Noel Leeming is listed as one of the participating retailers so as I read it I can receive 12 months interest free on any purchases over $300 made there? There doesn't appear to be any product exclusions to the offer so it could be a good deal for any large tech purchases over the next year?

    • huffboy on 24/08/2021 - 18:26

      they want you to stay on… and pay the annual fee.

    • pdevonporf on 01/09/2021 - 15:46

      There's also a $55 annual fee in the equation.

  • doubledippps on 25/08/2021 - 14:05

    Yes I got the same email, 100% I will cancel the card

  • Anarchy on 25/08/2021 - 22:31

    Thanks for your post. Assumed this email is another junk letter, I even didn't read it properly.

    Set a reminder on my phone now, cancel it at the beginning of March 2022.

  • sunshinenz on 29/08/2021 - 17:28

    Last time the change was to take effect almost immediately, so people cancelled immediately and they cancelled the change immediately. This time people aren't cancelling yet, so don't expect them to change their mind yet.

  • organicLv on 30/08/2021 - 20:01

    No reason to keep the card without 5% discount even there is no annual fee, with 55 dollars fee i will just cancel quicker

  • pdevonporf on 01/09/2021 - 15:40

    Yes they were trying to change the terms and conditions when "finance now" brought warehouse financial services and there was a huge uproar, I suppose they thought let the dust settle and try again. They're trying to lure people in by giving them free interest rates for extended periods of time which is criminal for the people that can't afford it and eventually end up paying higher financial costs. Far as I'm concerned no 5% discount, I am out.

    • NeM2k2 on 10/09/2021 - 17:43

      Which email is this? The one I got as an existing WH Money holder had no mention of $20 purple dollar credit.

      Full text of the email I received follows, apologies for the length

      We have made the decision for all of our valued customers to enjoy the benefits of a single credit card.

      This means that in September 2021 we will be reissuing you and if you have any Additional Cardholders with a Purple Visa Card to use instead of your current Warehouse Money Visa Card. You will still get to enjoy a number of benefits, but simply with a card that has a different look and colour.
      Benefits of the Purple Visa Card

      Our Purple Visa Card provides you with more functionality and benefits than your current Warehouse Money Visa Card and we are excited to extend those benefits to you. These benefits include:

      Long Term Interest Free finance at Participating Retailers

      Earning Purple Dollars everywhere Visa is accepted

      1 Purple Dollar = $1 NZ Dollar
      Redeeming Purple Dollars towards your purchases at Participating Retailers

      Access to the current Purple Visa Card Promo: During the Promotional Period (Thursday 1st July 2021 to Thursday 30th June 2022), a 12 Month Interest Free Term will be automatically applied to any purchase totalling $300 or more on a single Purple Visa Card transaction at any of our Participating Retailers. Visit purplevisa.co.nz/12mif for more information and Terms and Conditions that apply.

      Visit purplevisa.co.nz for Participating Retailers, exclusions and full terms and conditions that apply, as well as to find out more about the fantastic benefits Purple Visa Card has to offer.
      What does this mean for you?

      • We will reissue you with a Purple Visa Card to replace your Warehouse Money Visa Card in September 2021. The Purple Visa Card Terms and Conditions will apply to your card account from 1 September 2021, however all of your account and customer information (including your card number and PIN, credit limit, card balance and payment details) will remain exactly the same.

      • Your current Warehouse Money Visa Card will continue to work until 31 October 2021. After this date you can only use your Purple Visa Card.

      • With Christmas just around the corner, we’ve ensured that for 6 months starting 1 September 2021 until 31 March 2022, you’ll continue to receive a 5% discount at The Warehouse on your Purple Visa Card, along with enjoying all of the benefits your Purple Visa Card has to offer.

      • Your current Warehouse Money Visa Card Rates and Fees will remain the same on your Purple Visa Card until 23 Mar 2022.

      • Then from 23 Mar 2022, only the Purple Visa Card Rates and Fees and reward benefits will apply. It’s important to note there will be changes to your purchase interest rate (to 22.90%), cash advance interest rate (to 25.90%) and a $55 annual card fee will apply. Click here to read all the documents that will apply to your Purple Visa Card. You’ll also receive a copy of these with your Purple Visa Card.
      What do you need to do?

      Check that all your contact details in WM Connect are correct, to ensure we’re sending your Purple Visa Card to the right address. If your details need updating, you can contact us by:

      Sending us a secure message through WM Connect; or

      Emailing us at [email protected]; or

      Calling us on 0800 801 808.

      Read the Purple Visa Card Terms and Conditions and Rates and Fees and we will also send them with your Purple Visa Card.
      Don’t want a Card Account with us?

      Remember, you can continue to use your Warehouse Money Visa Card until 31 October 2021. So, if you don’t want a Card Account with us, you can do one of the following:

      • If you have a balance owing, you may want to pay off your outstanding balance before 23 Mar 2022 (from which point you’ll begin getting charged the Purple Visa Card Rates and Fees on your remaining balance) and then request to have your Account cancelled, or

      • If you don’t have a balance owing, send us an email at [email protected] before 1 September 2021 and we’ll cancel your Account for you.

  • NeM2k2 on 10/09/2021 - 17:38

    I noticed some good/bad/interesting things about this while using my WH Money card at TWH as usual. (I have not received a Purple Visa card in the mail yet)

    1) Purchases over $300 are now automatically interest free for 12 months. You have to call and request your purchase to be a regular Visa purchase to opt out for every such purchase. There is some fine print on their website for Purple Visa about a $55 establishment fee (in addition to $55 annual fee) for such cases, I have no idea if this applies to WH Money holders from now until March 2022. I guess I need to call to make sure I don't get any unexpected establishment fees. (I have absolutely no need for 12 months interest free anyway)

    2) After a small purchase instore at TWH today I got a txt saying to reply if I wanted to apply my Purple Dollar balance to my recent purchase. It seems I am already earning the 1% cashback. This could be a nice little bonus to the 5% discount until cancelling everything in March 2022.

    • NeM2k2 on 10/09/2021 - 18:40

      Link for details about the 12 months interest free: https://www.purplevisa.co.nz/12mif

    • NeM2k2 on 16/09/2021 - 13:23

      I called them today - there is no fee for the automatic 12 month interest fee term on purchases over $300.

  • DigitalTeam on 18/09/2021 - 18:20

    Received the purple visa card in the mail today, $55 annual fee? I just return the mail back to them say NO THANK YOU.

  • mechaneer on 23/09/2021 - 08:47
    +3

    Important info regarding fees for WM Card: The $55 fee will be charged at your card anniversary date.

    From WM:

    "Yes, the Annual Fee does come into effect from 4th March 2022.
    However this is charged onto each account on the account Anniversary Date, this date is different for each of our customers.

    I can confirm your Anniversary date is 4th November.
    Your first Annual Fee will be charged onto your account on 4/11/2022"

    • netwalk on 23/09/2021 - 11:48

      Thanks, good to know as it maybe makes the card worth keeping that little bit longer. Time to message WM and find when my anniversary date is. Probably 5th March with my luck lol

      • NeM2k2 on 30/09/2021 - 09:18

        Mine is in May. Oof

        • netwalk on 30/09/2021 - 19:21

          Mine turned out to be 2nd August 2022 (better than hoped) so I may hold onto the card until 31st July 2022 but not a day longer.

  • akrotohur on 10/12/2021 - 13:31

    I've closed my account, too much work to keep track of the dates, etc

  • mechaneer on 01/02/2022 - 13:38

    Just a reminder to everyone that the annual fee has come into effect now. Remember to cancel your card before your account Anniversary Date to avoid being charged the annual fee.

    • doubledippps on 08/02/2022 - 13:02

      Found this on the email they send me:
      Your current Warehouse Money Visa Card Rates and Fees will remain the same on your Purple Visa Card until 24 Mar 2022.

      • Then from 24 Mar 2022, only the Purple Visa Card Rates and Fees and reward benefits will apply. It’s important to note there will be changes to your purchase interest rate (to 22.90%), cash advance interest rate (to 25.90%) and a $55 annual card fee will apply.

      When is the latest I need to call them to cancel the card? Can it be done online with login into the account?

      • huffboy on 08/02/2022 - 14:13

        yup. cancelled mine with an online message.

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