New Credit Card

#1

G’day to you all.

Isn’t it about time this bank gave more concessions to the “poor old” superannuate? After all they are only on a fixed income which is a mere pittance ($980.00 per fortnight for me) compared with someone in the workforce. The bank gives concessions to customers that do not really need them. eg: Homeowners & their Home Advantage Credit Card

5.79% p.a. purchase interest rate
​No annual account fee
​Extra cardholder at no charge
​Collect Fly Buys points
​Up to 55 days interest free

plus another advantages we senior citizens can only dream about if we don’t have our own home &/or mortgage still with the BNZ. The home advantage card could be used as a model for the “Senior Citizens Advantage” credit card, with it’s own terms & conditions as the Silver Service A/C has. As the Flybuys reward system is concerned, use the BNZ ADVANTAGE CLASSIC as a model & choose your rewards
Fly Buys points or Cash Rewards. The Gov’t got it right when they gave us the “Gold Card” . When is the bank that has the slogan: “Be good with Money” & “Closes for good” once or twice a year to help the local community going to come to the party & help the senior citizens of this country?

#2

$490 per week sounds like a damn good “concession” to me, especially considering it is not means tested, not asset tested, is granted as some sort of “right” and you only have to turn up to WINZ once a year, if that, for a pleasant little chat - no harassment, degradation or lectures.

My Mother is also on super so I know about all the “concessions” and it’s a pretty good racket I reckon.

Furthermore - statistically speaking there is an increasing number of people getting on this racket who have never seen a world war or a real depression but have experienced full employment, free tertiary education and record property gains.

To further compound this - when you do shuffle off this moral coil (likely after being on the oldies benefit for 20+ years) you won’t have to pay a dime back due to no death taxes.

So don’t complain.

How much are you worth to the bank in profit?

According to your post, you do not have a mortgage, get fee-free banking and it’s heavily implied you don’t have considerable savings or income. So why should you get a further discount?

Home owners with lending get benefits because the bank makes a profit on their lending.

Business owners (including myself) get some personal benefits because we also have lending, merchant services and business banking with the BNZ.

Banks offer individual and group concessions to get new customers within profitable demographics and to increase profitable sales to existing customers. Profitable demographics are: home owners with lending, businesses, government/state sector and high net worth individuals.

In the case of the Home Advantage credit card, the debt is part of a ‘package’ and is probably secured against the real estate (I have not checked the T&C’s).

#3

I’m in the workforce and only get $150 per week. Good to see I’ll be getting a huge pay rise when I’m finally allowed to retire.