Had my MasterCard Gold for years. I've been with Commonwealth Bank since I was 18, now 61. Had a home loan, now no more loan now just my Gold credit card. They have been very good.
The fees are exorbitant and when you try and cancel your accounts with them, they charge you a fee to do so (despite no interest owing on any cards) AND it takes 24 hours.
Credit card statements posted to arrive very near to the day payment due, the one today arrived on the payment due day! They blame Australia Post. Seems like a good way for them to charge overdue fees so no incentive for them to post statements earlier.
I opened an "interest free credit card" with these bullies on 02/02/2017. I made the first payment on time and yet there were unsubstantiated charges on the next statement. This literally continued for the next 3 years. The item I purchased "interest free" was paid off more than 18 months ago and they have continued to levy fees and charges. Despite an ongoing review of the matter, they have lodged a number of late payment records on this account and singlehandedly destroyed my credit rating. I operate a number of other utilities and cards and all a near perfect. Do not go near these people as they will damage your ability to do business and not give a damn.
I find total convenience with my Visa platinum credit card and the monthly repayments are very reasonable on my limit which keeps everything under control with assured security and peace of mind.
The customer service is the worst I have ever experienced. No customer help. all money hungry. Fraudulent transactions reported and no help whatsoever. Then extra charges appeared when wanting to close card No compassion in wanting to help customers.
Fraudulent transactions, not happy to help, constant payments from unknown sources and every time paid there is new charges.
I like the credit card from Coles Financial Services because I take advantage of the rewards program which provides considerably more than the $99 annual fee. Because I pay the balance each month, I do not attract interest so the financial rewards are an attractive bonus.
Like the convenience, don't like the fees.
No obvious pros or cons. Easy to use banking app, readily available branches.
If you use Google Pay mobile payment then avoid this credit card at all costs. It has two incredibly frustrating limitations: 1. You are limited to 5 daily mobile transactions PER DAY. After 5 transactions any future mobile transactions will be denied. It is very easy to hit 5 transactions in one day - e.g. when going shopping, buying lunch, drinks, etc. You will find yourself 'caught short' if you rely on this credit card for emergency payments if you have already reached your 5 daily limit. Horizon customer support says this is a 'security measure'. However, it is overly restrictive and actually circumvents the security of mobile payment by forcing you to carry your physical credit card with you also. Other banks have much higher daily mobile transaction limits or are unlimited (e.g. ING) It also defeats the whole purpose of mobile payment which is to leave your credit card at home! Horizon do not seem to understand this. Their response to what to do when hitting the limit is 'just use your physical credit card'. 2. The other major limitation is you cannot get a refund on mobile payments. E.g. you buy something at a shop, change your mind and want to return it. Don't have your physical credit card handy? Too bad, you've got a long trip home and back to come back into the store which your physical Horizon credit card to get your refund. I do not have this issue with other banks' credit cards. A wholly unenjoyable and frustrating experience. My first discovery at these wonderful 'security measures' was being stuck at a petrol station not being able to buy petrol, even though I had enough credit on my credit card, because I had reached my 5 transaction limit. It was after business hours so no way to contact Horizon and nothing they can do anyway (you'd think they could lift the restriction for a short time after verifying your identity), I didn't have any other way to pay, kept getting unexplained 'transaction denied' when paying even though I knew there were funds in there. Fun times Horizon, thanks for the memories....
I've always banked with Commonwealth bank since primary school and they have always been safe and secure to bank with and offer competitive rates.
The credit card attracts decent points which can be drawn back as $$ off your account, gift cards and many other excellent options. I end up with three times the $ value in rewards than it costs for the annual fee.
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