biometrics
Honorary Master
- Joined
- Aug 7, 2003
- Messages
- 71,856
- Reaction score
- 2,239
-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: What is your ultimate pancake filling/topping?
Tips to Boost your eBucks
- Thread starter sdd
- Start date
- Status
Tinuva
The Magician
Yeah flights is the only exclusion to that rule, but I wasn't aware that you also get 40% discount on the rand value part.
Hamish McPanji
Honorary Master
The one caveat is that the discount is off rack prices. On Emirates that often means even with 40% that you pay nearly the same price as their promo prices
RogueTr00per
Honorary Master
This is probably the main reason to be wary of the 40% eBucks discount on flights. I have found the same issue with Vitality's 35% off. With some shopping around there are some nicely discounted flights and packages to be had I think?
Ok, been away for a bit, but sort of got somewhere myself with this whole issue re points for Credit Card spend of between 10% and 90% of your limit in a calendar month...
Yes, I also went through all of that myself and had the same experiences where feedback was poor to terrible, with FNB completely ignoring all logic and explanation I provided (no matter how solid), and coming up with all kinds of reasons to reject my query.
But finally, last week I got proof from FNB! I actually received a response from someone at FNB Card where they provided me an exact match to my own transaction records which clearly show my October 2014 spend was within the rules to earn those points. The exact same issue that occurred relating to my December 2014 spend and will hopefully also get resolved sometime soon.
So I'm still not completely sorted out yet, but at least I've been given proof by FNB that I was right all along. I think it's still worth getting those contact details from Se@n to hopefully short-cut the frustration of getting the run-around from FNB.
Yes, I also went through all of that myself and had the same experiences where feedback was poor to terrible, with FNB completely ignoring all logic and explanation I provided (no matter how solid), and coming up with all kinds of reasons to reject my query.
But finally, last week I got proof from FNB! I actually received a response from someone at FNB Card where they provided me an exact match to my own transaction records which clearly show my October 2014 spend was within the rules to earn those points. The exact same issue that occurred relating to my December 2014 spend and will hopefully also get resolved sometime soon.
So I'm still not completely sorted out yet, but at least I've been given proof by FNB that I was right all along. I think it's still worth getting those contact details from Se@n to hopefully short-cut the frustration of getting the run-around from FNB.
After speaking to someone from FNB (thanks for the contact Se@n) who actually had the understanding and took the time to explain, I think I may actually finally understand the eBucks points rule which states "Use between 10% and 90% of your credit limit during the calendar month" in the way FNB intended and apply it.
My misunderstanding of the rule actually relates to the interpretation of the word "use", which I interpreted as "spend". I assumed if you have a limit of e.g. R1000, and you spend between R100 and R900 in the calendar month, you qualify to earn points as per the rule. The rule seems actually to be that you must ensure your running balance must at least reach R100 in credit during the calendar month, AND also not exceed R900 at any point during that calendar month. Seems simple enough, but there are reasons this gets complicated to accurately monitor:
(1) If you do not start from a zero balance at the beginning of the calendar month (e.g. let's say you still have R500 owing on your credit card), you need to make sure you don't make a transaction of more than R400, else you'll immediately be going over that R900 limit for the calendar month. So before you make e.g. that Checkers groceries purchase to the value of R700, you'd need to first transfer R300 into your credit account. Further, it would thus appear that you can spend well above R900 in total on your credit card during the calendar month, so long as you ensure you keep transferring money into your account throughout the month to keep the running balance below R900.
(2) Timing differences between purchase date and transaction post date need to be taken into account, and this is the most difficult factor to manage.
(2a) I'm sure we're all aware of the timing difference between when we make a purchase and when it reflects as a detailed transaction in our account transaction history. The thing that's hard to know is exactly when it will reflect, and thus exactly what the effect will be on our running balance. One merchant may submit transactions daily, another weekly, so those two transactions made on the same day will post quite a number of days apart.
(2b) Further, non-business days/hours throw a further spanner in the works, and even inter-account transfers (i.e. "topping up" your credit account from your cheque account) will not necessarily (apparently as per FNB) post at the time that you make the transfer.
I know that there are a few ways you can check your remaining available balance after each transaction as a sort of guideline, but at this point it appears FNB are using the running balance as at the actual point in time that each transaction posts. So you pretty much either need to stay quite a bit below that 90% running balance limit or, if you need to get close to and still ensure you don't exceed the limit (e.g. that new game you want to buy costs R900), you need to be patient in between transactions until you actually see the detail of recent transactions reflect in your account to know what that your running balance truly is (and that it's R0 or positive for the purposes of my specific examples).
So right now, I already know I screwed up this particular rule for the current calender month of January 2015
. But I'll try and monitor my spend better next month within these new (to me at least) parameters.
My misunderstanding of the rule actually relates to the interpretation of the word "use", which I interpreted as "spend". I assumed if you have a limit of e.g. R1000, and you spend between R100 and R900 in the calendar month, you qualify to earn points as per the rule. The rule seems actually to be that you must ensure your running balance must at least reach R100 in credit during the calendar month, AND also not exceed R900 at any point during that calendar month. Seems simple enough, but there are reasons this gets complicated to accurately monitor:
(1) If you do not start from a zero balance at the beginning of the calendar month (e.g. let's say you still have R500 owing on your credit card), you need to make sure you don't make a transaction of more than R400, else you'll immediately be going over that R900 limit for the calendar month. So before you make e.g. that Checkers groceries purchase to the value of R700, you'd need to first transfer R300 into your credit account. Further, it would thus appear that you can spend well above R900 in total on your credit card during the calendar month, so long as you ensure you keep transferring money into your account throughout the month to keep the running balance below R900.
(2) Timing differences between purchase date and transaction post date need to be taken into account, and this is the most difficult factor to manage.
(2a) I'm sure we're all aware of the timing difference between when we make a purchase and when it reflects as a detailed transaction in our account transaction history. The thing that's hard to know is exactly when it will reflect, and thus exactly what the effect will be on our running balance. One merchant may submit transactions daily, another weekly, so those two transactions made on the same day will post quite a number of days apart.
(2b) Further, non-business days/hours throw a further spanner in the works, and even inter-account transfers (i.e. "topping up" your credit account from your cheque account) will not necessarily (apparently as per FNB) post at the time that you make the transfer.
I know that there are a few ways you can check your remaining available balance after each transaction as a sort of guideline, but at this point it appears FNB are using the running balance as at the actual point in time that each transaction posts. So you pretty much either need to stay quite a bit below that 90% running balance limit or, if you need to get close to and still ensure you don't exceed the limit (e.g. that new game you want to buy costs R900), you need to be patient in between transactions until you actually see the detail of recent transactions reflect in your account to know what that your running balance truly is (and that it's R0 or positive for the purposes of my specific examples).
So right now, I already know I screwed up this particular rule for the current calender month of January 2015
. But I'll try and monitor my spend better next month within these new (to me at least) parameters.
RogueTr00per
Honorary Master
@Abzolute, nice feedback there. The way you explained it is the way that I understood it BUT I actually didn't click about the running balance bit (not exceeding 90%) as I am actually still sticking to the old requirement (out of habit) which was ensure that your running balance doesn't exceed 75% of your credit limit.
The "use 10%" bit could be a bit of a pain if one transfers too much money into one's ccard and then you're left with a running balance that is less that 10% or even in credit. I wonder if they would really penalise one for not "using" more than 10%?
The "use 10%" bit could be a bit of a pain if one transfers too much money into one's ccard and then you're left with a running balance that is less that 10% or even in credit. I wonder if they would really penalise one for not "using" more than 10%?
Neo_X
Expert Member
HI Abzolute
thank you for detailed feedback. Just to go further on your example , do you think the following will activate the rule:
hold credit card in a debit balance of R400 for 30 days of the month. on day 31, go to checkers and spend R501. Leave the balance like this for a day, and then top it up again?
to avoid delayed transactions, you can obviously do this during the month sometime, but what i want to avoid is exessive interest by keeping the balance in credit for the full month.
I plan to test my above scenario during February , but if i can avoid missing out on the points i will rather not
It does seem like a silly rule for a customer that they could very well not give you the points if you use less than 10%, but I figure the bank wants you to use some credit which may get you into a position where you're eventually charged some interest and they make some money back on you. There's a few of their eBucks points earning methods that require the use of some product where you go into some amount of debt to get the points (e.g. spend some minimum amount or more on your credit card in a month, use various facilities like Overdraft, Revolving Loan, Personal Loan, Home Loan that still has a minimum outstanding balance).
I'm not sure of the exact current rules, but isn't there an interest free period which is at least longer than a month (like 45 or 55 days?). In that case, I guess no matter when in the month you make that transaction that pushes you over the 10%, if after the purchase posts/clears you then immediately (i.e. well before the interest free period expires) transfer in the credit amount and zero your account again, you should not be charged any interest at all. And it's probably better if you do all this earlier during the month to ensure your purchase posts by month end.
I can't really be sure though since I've yet to get this particular rule to work my way, whether use of card to get the balance at least above 10%, and then on the other hand also still not exceed 90% at any point in time. I use my credit card for as much as I possibly can through a month to try and earn against as many of the various eBucks earning avenues as possible, and just keep transferring into it from my cheque account to cover the transactions. But based on the clarity I got from the person at FNB, I'll be adjusting the timing of my transfers in and purchases made to try and keep my running balance well below 90%, but always at least peaking above 10% at some point per month.
This also means that I can now also put a lot more of my monthly purchases on my credit card than I have been (as opposed to doing them using my cheque card), since I used to think that my total spend limit was (as per my previous example) R900 for a R1000 limit. Now it seems my spend can be whatever I can put through my card (e.g. fuel for R700, Checkers groceries for R750, prepaid airtime for R450, prepaid electricity for R500), but I just need to make sure that I transfer in to my credit card account (and that the transfer has cleared) to ensure I am enough below the R900 limit before I make any of those transactions. That's the way I see it anyway - I really hope I've now been given the proper full story by FNB on this particular rule (until they revamp the rules again of course)!
I'm not sure of the exact current rules, but isn't there an interest free period which is at least longer than a month (like 45 or 55 days?). In that case, I guess no matter when in the month you make that transaction that pushes you over the 10%, if after the purchase posts/clears you then immediately (i.e. well before the interest free period expires) transfer in the credit amount and zero your account again, you should not be charged any interest at all. And it's probably better if you do all this earlier during the month to ensure your purchase posts by month end.
I can't really be sure though since I've yet to get this particular rule to work my way, whether use of card to get the balance at least above 10%, and then on the other hand also still not exceed 90% at any point in time. I use my credit card for as much as I possibly can through a month to try and earn against as many of the various eBucks earning avenues as possible, and just keep transferring into it from my cheque account to cover the transactions. But based on the clarity I got from the person at FNB, I'll be adjusting the timing of my transfers in and purchases made to try and keep my running balance well below 90%, but always at least peaking above 10% at some point per month.
This also means that I can now also put a lot more of my monthly purchases on my credit card than I have been (as opposed to doing them using my cheque card), since I used to think that my total spend limit was (as per my previous example) R900 for a R1000 limit. Now it seems my spend can be whatever I can put through my card (e.g. fuel for R700, Checkers groceries for R750, prepaid airtime for R450, prepaid electricity for R500), but I just need to make sure that I transfer in to my credit card account (and that the transfer has cleared) to ensure I am enough below the R900 limit before I make any of those transactions. That's the way I see it anyway - I really hope I've now been given the proper full story by FNB on this particular rule (until they revamp the rules again of course)!
RogueTr00per
Honorary Master
^^ The 90% story makes sense. The requirements around the 10% story is not quite clear.
It's interest free for one billing cycle.
You buy something on the 10th and 20th of December, your statement date is the 1st of Jan - you have until the 1st of Feb to settle the statement, thereafter you get charged interest.
You buy something on the 10th and 20th of December, your statement date is the 1st of Jan - you have until the 1st of Feb to settle the statement, thereafter you get charged interest.
RogueTr00per
Honorary Master
I forget, is it in fact possible to get 55 days interest free on all transactions? It isn't actually, hey? That's why they say "up to" 55 days interest free.
Why would you want to keep transferring money to your credit card from your cheque account during the month?
If you are sure that you will spend at least R1000 on your credit card in any given month, just make your credit limit R10000 and ensure you do not go over R9000 credit during the month and then get points for the auto payment at the end of the month.
My credit limit is currently R25000 since I will definitely spend more than R2500 on my credit card in any given month, but should not go over R22500 which is the 90% limit.
If you are sure that you will spend at least R1000 on your credit card in any given month, just make your credit limit R10000 and ensure you do not go over R9000 credit during the month and then get points for the auto payment at the end of the month.
My credit limit is currently R25000 since I will definitely spend more than R2500 on my credit card in any given month, but should not go over R22500 which is the 90% limit.
The point about transferring from cheque to credit throughout the month was not so much a suggestion as it was an (admittedly unnecessary) side effect of the spend monitoring I was trying to do... The problem was the usage rule wasn't clear to me and it never worked out anyway.
A more realistic example and reason for transferring from cheque to credit is when you want to make the odd higher transaction or two (E.g. Buy a TV or home theatre system), and still do your normal planned fuel / grocery / etc purchases too and not raise your credit limit beyond your normal monthly usage to cater for exceptions (i.e. Provide yourself more temptation)... Then you may have need to "top up" your remaining credit balance to stay below the 90% limit. So agreed, you don't need to constantly be putting money into the credit account aside from covering high exception to the norm purchases.
A more realistic example and reason for transferring from cheque to credit is when you want to make the odd higher transaction or two (E.g. Buy a TV or home theatre system), and still do your normal planned fuel / grocery / etc purchases too and not raise your credit limit beyond your normal monthly usage to cater for exceptions (i.e. Provide yourself more temptation)... Then you may have need to "top up" your remaining credit balance to stay below the 90% limit. So agreed, you don't need to constantly be putting money into the credit account aside from covering high exception to the norm purchases.
RogueTr00per
Honorary Master
If exceeding the 90% credit limit rule is the difference between making RL5 or not, it's worth being hyper aware of how that running balance is doing. It could cost you a few hundred bucks in eBucks dropping to RL4. It's cost me at least R600 (in eBucks) for December eBucks awarded by dropping to RL4. Not because of the 90% rule mind you, but because I lost points elsewhere 
Billy
Expert Member
If exceeding the 90% credit limit rule is the difference between making RL5 or not, it's worth being hyper aware of how that running balance is doing. It could cost you a few hundred bucks in eBucks dropping to RL4. It's cost me at least R600 (in eBucks) for December eBucks awarded by dropping to RL4. Not because of the 90% rule mind you, but because I lost points elsewhere
When I am approaching the limit, I normally make a payment to bring it back in line. In November, I slipped up and went over 90% in both November and beginning of December. Result 2 months of Level 4.
Punishment for not paying more attention. It won't happen again!
RogueTr00per
Honorary Master
Make your credit limit higher then? TBH, if I ever approach 90% of a running balance I'll be in some serious pain paying the money back for a couple of months. In fact, make that several months as I am paying a new bond from March
Billy
Expert Member
Make your credit limit higher then? TBH, if I ever approach 90% of a running balance I'll be in some serious pain paying the money back for a couple of months. In fact, make that several months as I am paying a new bond from March
The credit limit was high enough to have caused problems in using enough on the old rules.
Under normal circumstances my limit is fine, but pay for hotel bookings or airline tickets and it can cause a problem, but that does not happen often.
Has anyone confirmed whether or not Snapscan counts as online spend for eBucks earn? Looking back to August in this thread it sounds like it, but what bugs me is that I should have taken Snapscan more seriously long ago. Used it today for the first time and got it set up within 3 minutes while sitting under a tree.
Rather than pay at a restaurant with my credit card as usual, I will now definitely use Snapscan if they support it. We went to the Kirstenbosch Craft Market today where every stall had a QR code. It was great, since we managed to go to the market forgetting to take cash. I just struck me as a bit of a surprise that I can pay for something in a semi-retail setting and earn online-rated eBucks (limits considered of course).
Rather than pay at a restaurant with my credit card as usual, I will now definitely use Snapscan if they support it. We went to the Kirstenbosch Craft Market today where every stall had a QR code. It was great, since we managed to go to the market forgetting to take cash. I just struck me as a bit of a surprise that I can pay for something in a semi-retail setting and earn online-rated eBucks (limits considered of course).
- Status