Woolworths Credit Card

cr@zydude

Executive Member
Joined
Jul 20, 2008
Messages
6,895
#23
i was told by a cashier that you can't pay your ww storecard with your wwcc. have to use other cc.
That makes sense.

My idea would be to use the Woolworth credit card to do all of my monthly shopping and then pay the full amount due with my Virgin Money card. Then pay the full Virgin Money amount via eft when it is due.

That would push my average number of interest free days up from 30 to about 60.
 

YaLiRo_M

Well-Known Member
Joined
May 16, 2015
Messages
104
#24
WWCC management of the account with the eBucks prospects works great at the moment...

I have capped my FNB in store payments for the month, so all the payments now are done with WWCC, and then choose exactly the amount of up to my limits to settle WWCC. In that way i get everything, WWCC rewards and eBucks.

I am however going to add ABCC to fully maximize this month. Still 4 or so months to score before the review for next year...
 

electrix

Well-Known Member
Joined
Nov 19, 2010
Messages
486
#25
guys a word of caution here

just got off the fone with wfs to confirm a few things on the eft/withdrawals out of the wwcc.

i have been advised by another consultant as follows.

interest finance charges will accrue on the amounts paid out(by eft or withdrawn @atm) as per your interest rate, from funds out date to statement run date(17/18/19) when you will be billed. having a positive balance will not make a difference as the funds will be lessed from your credit facility.

also if you happen to pay the money back before the statement run date, this will also not make a difference as interest will still be calculated till statement date.

i have emailed woolworthsblack@wfs.co.za and await an answer
 

electrix

Well-Known Member
Joined
Nov 19, 2010
Messages
486
#28
guys a word of caution here

just got off the fone with wfs to confirm a few things on the eft/withdrawals out of the wwcc.

i have been advised by another consultant as follows.

interest finance charges will accrue on the amounts paid out(by eft or withdrawn @atm) as per your interest rate, from funds out date to statement run date(17/18/19) when you will be billed. having a positive balance will not make a difference as the funds will be lessed from your credit facility.

What the heck? That doesn't even make sense. That's not how any of this works? I mean lets use logic here. I have a credit limit of lets say R5 000 if I put in R100 000 and EFT that out are you telling me that I will be charged 15% on R100 000? or R5000. I have never heard of anything like this before....
We dealing with woolworths here and i know they use logic

Referring to my ww storecard account, i can recall that if u miss a statement due by date settlement, then interest is charged not only on the oustanding statement balance but also on the current months spend up until settled. Thats woolworths logic for you
 

bokka1

Expert Member
Joined
Nov 27, 2006
Messages
2,952
#30
I have a Black card and use it only at Woolies. At the start of each month I deposit money into the card and use it as I go there to shop for our daily milk, bread and veggies. I also buy my chicken and cold drinks there.

The quarterly rewards, discount vouchers and free coffee and magazine vouchers are nice to have.
 

YaLiRo_M

Well-Known Member
Joined
May 16, 2015
Messages
104
#31
I have a Black card and use it only at Woolies. At the start of each month I deposit money into the card and use it as I go there to shop for our daily milk, bread and veggies. I also buy my chicken and cold drinks there.

The quarterly rewards, discount vouchers and free coffee and magazine vouchers are nice to have.
How do you claim for the free coffee...?
 

YaLiRo_M

Well-Known Member
Joined
May 16, 2015
Messages
104
#32
Guy I just spoke to said if its in the positive "they cannot charge interest as it is your money" this applies to both ATM and EFT. Put me through to his manager and he confirmed the same.

Ran a number of scenarios as well. Guys just FYI only black card withdrawals are free from ABSA atms otherwise its R18.

I am now super comfortable that this works like a normal CC would.
This makes sense to me... Thanks for the update and confirmation...
 

electrix

Well-Known Member
Joined
Nov 19, 2010
Messages
486
#36
guys a word of caution here

just got off the fone with wfs to confirm a few things on the eft/withdrawals out of the wwcc.

i have been advised by another consultant as follows.

interest finance charges will accrue on the amounts paid out(by eft or withdrawn @atm) as per your interest rate, from funds out date to statement run date(17/18/19) when you will be billed. having a positive balance will not make a difference as the funds will be lessed from your credit facility.

also if you happen to pay the money back before the statement run date, this will also not make a difference as interest will still be calculated till statement date.

i have emailed woolworthsblack@wfs.co.za and await an answer
UPDATE

spoke to another senior manager at h/o. he advises as follows

provided you have a positive balance(ie your money, this balance is not live and is delayed by a day to 2), no interest is charged on cash transactions(@atm, cash @till, eft online, casino)

interest bearing transactions are charged from day1

your available balance reflects your nett live balance which is ((credit facility - usage)+ positive balance)



so basically any cash funds taken out when your available balance is above your credit facility amount, you are safe from being charged any interest fees.

and if you take out cash when your available balance is within the credit facility amount be prepared to be charged an interest fee.

so if you are gonna be doing purchases and cash, just be mindful of where your available balance is sitting.



also easypay payments in woolies earn on 1% rewards and not 3% wwrewards(same as doing it at any other store)
 
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