The Woolworths credit card is offered by Woolworths Limited, which owns the largest supermarket chain in Australia. Known colloquially as the Woolies credit card, these cards are accepted at over 26 million establishments worldwide that display the MasterCard logo.
Woolworths Credit Card: Features
Some important features of the Woolies credit card are:
-
No annual fee for the first year after credit card activation and a low fee of $49 in the subsequent years.
-
Free add-on cards for friends and family members over 16 years of age.
-
Low annual interest rate of 17.99% on purchases and 20.99% on cash advances.
-
Interest free period of up to 55 days.
-
Low annual balance transfer rate of 5.99% for the initial six months after acquiring the card.
In addition, the Woolworths credit card comes with a convenient payment program, the MasterCard PayPass. This facilitates the making of instant payments at establishments bearing the ‘PayPass’ sign without waiting in queues.
Woolies Credit Card: Rewards
For every dollar spent with the Everyday Money Woolworths credit card, one can earn the following points:
-
Three reward points on every dollar spent on purchases of select products at Woolworths and Safeway Supermarkets. However, online purchases are excluded from this scheme.
-
Two reward points for every dollar spent on other purchases at Woolworths and Safeway Supermarkets. Purchases at participating stores, such as BIG W, BWS, Thomas Dux, Dan Murphy’s also qualifies for two points per dollar.
-
One point per dollar on other purchases.
Everyday Money Woolworths credit cards are backed by a repayment insurance scheme. This provides credit cover to the cardholder in case s/he becomes involuntarily unemployed, such as in the case of retrenchment, critical illness and death. In such cases, a Woolies credit card outstanding of up to $25,000 is waived. In addition, the Woolies credit card comes with an embedded microchip to secure transactions and facilitate sophisticated payment applications.
An individual can apply for a Woolworths credit card online by furnishing details about income, employment and asset-liability position. Woolworths credit cards are generally approved after confirming the applicant’s identity. However, an individual is eligible for a Woolies credit card only if s/he has a satisfactory credit history and a gross annual income over $20,000.