Woolworths Everyday Platinum Credit Card Balance Transfer Offer | Review & Apply

Woolworths Everyday Platinum Credit Card Balance Transfer Offer

What do you want this card for?
Save money
Earn points
My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
Woolworths Everyday Platinum Credit Card Balance Transfer Offer
Apply by 30 jun 19
Woolworths Everyday Platinum Credit Card Balance Transfer Offer
Credit Card Compare Exclusive: 0% p.a. on balance transfers for 14 months and then 21.99% p.a.
Bonus 5,000 points after your first eligible purchase.
Low $49 annual fee ongoing.
Add to comparison
14 months
0% p.a.
then 21.99%
with a 0% fee
19.99% p.a.
ongoing
$49
ongoing

Pros & cons

What's good?

What's not so good?

0% p.a. on balance transfers for 14 months and then 21.99% p.a..
Bonus 5,000 points after your first eligible purchase.
Every month you’ll get 10% off your first shop at Woolworths on selected dates – Saving you up to $50 every month.
Low $49 annual fee ongoing.
Up to Up to 55 days on purchases if your account is paid in full by the due date shown each month.
Earn points that are automatically converted into shopping cards every 4 months. 4,000 points is equivalent to $20 Woolworths Shopping Card.
Earn 3 points per $1 spent on Woolworths brand range of products.
Earn 2 points per $1 spent on purchases at Woolworths, BIG W, BWS, Dan Murphy’s and Cellarmasters.
Earn a base rate of 1 pt per $1 spent on eligible transactions everywhere Visa is accepted.
Comes with Apple Pay.
Interest rate of 19.99% p.a. on purchases is quite high.
Rewards are automatically redeemed every four months which may be restrictive or inconvenient.

The bonus 5000 Credit Card points offer is available to new primary cardholders only, who apply for a Woolworths Everyday Platinum Credit Card between 12:01am AEST 1 May 2019 and 11:59pm AEST 30 June 2019, and make a purchase on the approved Credit Card. Your bonus 5000 Credit Card points will be added to your account within 8 weeks after your first spend, provided that you are not in breach of your credit card Conditions of Use and your credit card account remains open. Eligible purchases exclude balance transfers, cash advances, cash substitutes and transactions for gambling purposes. Woolworths Gift Card terms and conditions apply. Visit woolworths.com.au/giftcards for details.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Woolworths Everyday Platinum Credit Card Balance Transfer OfferReviewed by Yvonne Taylor

Woolworths wants to make sure the loyalty of their customers is rusted on, by offering them a low-cost credit card with lots of useful benefits, especially if they use it to buy Woolworths-branded products at Woolworths group stores. It’s called the Woolworths Everyday Platinum Credit Card Balance Transfer Offer. With that balance transfer offer thrown in, it sounds like a good deal for both parties, but it warrants investigating a little more closely, to make sure you are getting the value you expected.

0% p.a. interest balance transfer offer

The ability to bring across a balance, and pay no interest on it for 14 months, might be just the extra incentive you need if you are attracted by the card’s other features and want to start enjoying them right away, instead of waiting until you clear your balance on your existing card. There’s no upfront transfer fee to pay, but the revert interest rate, which you’ll pay on any portion of the transferred balance still remaining after 14 months, is the card’s high 21.99% p.a. cash advance rate.

You’ll save heaps if you are currently paying 20% p.a. or more on credit card debt. If you transferred a balance of $5,000, for example, you’d save over $1,100 in interest payments over 14 months.

No interest-free days if you have an unpaid balance transfer

The ongoing interest rate for purchases is 19.99% p.a., with an interest-free period of up to 55 days on purchases if you don’t have an unpaid balance on your account. But if you do take up the balance transfer offer, you’ll forfeit those interest-free days until the balance is cleared.

In order to avoid missing out on ongoing Woolworths Rewards points and bonus points, consider using your new card to shop at Woolworths as normal, but use online banking to transfer funds to your card from a bank savings or transaction account on the same day. You’ll pay no interest, but still earn points, and after 14 months you can stop doing this if you pay off your balance and get your interest-free days back.

Rigid rewards scheme

Make no mistake: the purpose of this rewards scheme is to make you shop at Woollies. You earn more points (Woolworths Credit Card Points) by shopping at Woolworths group retailers and buying Woolworths branded products, and you can redeem your points for – wait for it – shopping cards to spend at Woolworths group retailers only.

Here’s how it works:

  • 1 point per $1 for purchases from merchants not in the Woolworths group
  • 2 points per $1 for purchases from retailers in the Woolworths group, including online
  • 3 points per $1 for buying Woolworths or Woolworths Select (i.e. their own brand) products in store at Woolworths, Big W and BWS

The Woolworths group companies (where you will earn 2.0 points per dollar) are Woolworths supermarkets, Big W, Dan Murphy’s, Cellarmasters and BWS (including online stores where available).

If you live in Tasmania you will not be able to earn points using this card, since Woolworths has a different rewards scheme, called the Frequent Shopper Club, in Tasmania.

Woolworths Credit Card Points come in addition to standard Woolworths Rewards points

Most regular Woolworths shoppers will be aware that they can already earn Woolworths Rewards points on their Woolworths supermarket, Big W and BWS purchases, whichever payment method or card they use. So by using your Woolworths credit card you’ll earn points twice on each purchase at those Woolworths group retailers: once with your Woolworths Rewards card and once with your Woolworths credit card.

For added convenience, your Woolworths credit card doubles as your Woolworths Rewards card, with your Woolworths Rewards membership barcode printed on the back of your credit card. You will need to remember to scan your membership barcode before you complete your purchase by paying with your credit card.

Credit Card Compare exclusive offer – 5,000 bonus points to get you started

Apply for your Woolworths Everyday Platinum Credit Card Balance Transfer Offer by clicking the green ‘Application’ button on the right of the card details, and you’ll qualify for this exclusive offer. Simply make a purchase using your card – anywhere, of any amount – before 31st July 2019, and you’ll receive 5,000 bonus points worth $25.

Calculating the value of the rewards points

Woolworths will convert your points into shopping cards once every four months at the rate of $20 per 4,000 points.

So, supposing you used your card exclusively at Woolworths group stores, you’d need to spend $2,000 to get 4,000 points redeemable for a $20 discount, an effective loyalty discount of 1%. Most cardholders are likely to have a mixture of 1, 2 and (probably minimal) 3-point spending, resulting in an effective discount of slightly less than 1%.

There’s no monthly points earning cap with this card, so every dollar you spend on eligible purchases will earn points.

Other cardholder benefits

As well as Woolworths Credit Card Points, there other benefits available to cardholders:

  • 10% discount off your first Woolworths supermarket shop once every month, on selected weekend dates advised to cardholders by email. (Maximum purchase amount qualifying for discount is $500, so you can save up to $600 per year.)
  • Complimentary purchase security insurance and Walletguard: Protecting your card purchases against theft or accidental damage for 90 days, plus compensation for wallet theft where force or violence was used.
  • 10% discount on a range of Woolworths brand insurances: Car, home, pet and travel insurance.
  • 50% off selected wine cases at Cellarmasters.
  • Access to Visa Entertainment for pre-sale tickets and special offers.
  • Membership of the Visa Luxury Hotels program for special privileges at over 900 hotels worldwide.
  • Concierge service for travel, entertainment and dining recommendations and bookings.

Once again, some of these benefits are linked to Woolworths group companies, but there’s no denying there are substantial savings to be made if you direct your spending their way.

Low annual fee

The $49 annual fee is good value when compared with many other cards. There’s a $9 annual charge per additional cardholder, not $0 like some cards, but again it’s quite reasonable.

Competing cards

Wherever Woolworths goes, Coles will follow, and vice versa. If you’re a Coles regular you’re more likely to be interested in the Coles Rewards MasterCard, which allows you to earn flybuys points on your shopping.

Alternatively, if you regularly shop at upmarket David Jones, consider applying for the American Express David Jones Credit Card instead.

A card best for . . .

There’s no doubt that the Woolworths Everyday Platinum Credit Card is going to appeal to people who already do most of their shopping at Woolworths, Big W, BWS and Dan Murphy’s, collecting Woolworths or Qantas points and in some cases fuel discount vouchers. The credit card even doubles as a Woolworths Rewards card, meaning there’s one less card to carry in your wallet. But are there enough benefits to seduce Coles diehards? Only they can decide.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
Yes
Joint application
No
Minimum age
18 years old
Minimum income
$30,000
Minimum income for pensioners
Same as standard
Pensioners
N/A
Rewards program
Shopping card points
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$9 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
Greater of $50 or 2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.14 months0%100% less $500 of credit limit21.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
N/A
Balance transfer from personal loan
No
Balance transfer processing time
Up to 5 business days
Interest free days with unpaid balance
0 days
Maximum balance transfer
100% less $500 of credit limit
Available to existing customers
N/A

Banks you can't balance transfer from

You can't balance transfer to the Woolworths Everyday Platinum Credit Card Balance Transfer Offer at the promotional balance transfer rate from:

  • Macquarie Bank
  • Woolworths

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.14 months0%100% less $500 of credit limit 21.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.83% 21.99% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$49 p.a.
Cash advance fee
Greater of $5 or 3%
Dishonour fee
$10
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$35
Over limit fee
$30
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
$5 or 3% whichever is greater
Overseas emergency card replacement fee
$0
Transaction verification fee
N/A

Rewards & points

Rewards program basics

First purchase bonus
5,000 points
Reward points expiry
Never
Rewards program
Shopping card points
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $30,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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