Woolworths shocks customers by discontinuing credit card - find out what this means for your grocery savings!
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Supermarkets have long been using loyalty programs and credit card partnerships to attract and retain customers. These schemes provide customers with various benefits such as discounts, rewards points, cashback, and exclusive deals.
For customers who frequently shop at supermarkets, these programs can add significant value and savings to their shopping experience.
However, what happens when these programs come to a halt? It can be frustrating for customers who have come to rely on these benefits and may even cause them to switch to a different supermarket.
Such has been the case for Woolworths customers who were recently shocked to learn that their credit cards, which offered by Woolworths and included a monthly 10% discount on groceries, would be discontinued after an 8-year partnership with Macquarie Bank.
Unfortunately, this means that current Woolworths cardholders must find alternative ways to access the perks and savings they have become accustomed to.
A Woolworths representative confirmed: ‘This year, after careful consideration, Macquarie Bank has decided to no longer offer Woolworths credit cards, and as a result, existing Woolworths credit card accounts will be moved to Macquarie Bank credit card accounts.’
‘We'd like to thank our credit card customers for their loyalty over the years and remind them they can continue to get great value offers they had with their credit card, including the bonus 10 per cent off their monthly shop, through being customers of our Everyday Extra program, Everyday Insurance and Woolworths Mobile products.’
A Macquarie Bank spokesperson also commented on the matter, saying: ‘Macquarie has been the issuer of Woolworths credit cards for the past eight years and after careful consideration, we have decided to move Woolworths credit card customers to a Macquarie branded credit card as Macquarie will no longer be offering Woolworths branded credit cards.’
‘As part of the simplification of our credit cards business, since mid-2020 we've chosen to focus on offering credit cards to customers as part of a Macquarie home loan package. Macquarie branded credit cards remain an important part of our home loan offering. This reflects the broader shift in demand we are seeing from customers, who increasingly want to package their credit card and home loan together.’
Starting from June 2023, the Woolworths credit card rewards program will be replaced with the Macquarie rewards program for cardholders.
Any remaining credit card points will be automatically converted into a Woolworths eGift Shopping Card and sent to the email address on file, as stated in a notification.
Moreover, online access to the Woolworths credit card and the card's availability on the Woolworths Money app will cease. Cardholders will be able to access their account through the Macquarie Mobile Banking app instead.
While the Woolworths credit card will no longer be functional from October 2023, cardholders can enjoy the 10% discount on their monthly grocery shop until Saturday, 30 September 2023 by scanning the Everyday Rewards barcode at a Woolworths Supermarket branch.
It is worth noting that the Woolworths credit card operates independently from the Everyday Rewards program. Therefore, customers can still earn points by scanning their Rewards card, regardless of their payment method.
Additionally, members can still redeem $10 off a future purchase or 1,000 Qantas Points every time they accumulate 2,000 Everyday Rewards points.
Further information regarding changes to other Woolworths credit card benefits can be found on their support page. Affected customers may also contact the retailer via phone call 1300 10 1234 or email [email protected].
Unsurprisingly, holders of the Woolworths card have been sent into panic mode by the news and have taken to online forums to voice their disappointment.
One cardholder expressed their disappointment at the discontinuation of the Woolworths credit card and highlighted a potential issue that may resonate with many Australian families.
They wrote: ‘This credit card worked amazing for our family. Gaining over $600+ a year in gift cards made Christmas easy for us.’
Another customer lamented: ‘We were getting 10 per cent off our largest monthly shop, as well as approximately a $200 gift card every quarter for our daily household spending.’
‘The new program will not offer 10 per cent per month from October onwards, nor will it offer three points per dollar spent at certain retailers.’
Others expressed that they are already exploring alternative options to replace the discontinued card.
One user said that they were inquiring about ‘Coles MasterCard - Flybuys rewards’ while another recommended exploring credit card options from financial institutions such as Commonwealth Bank or ANZ, or a Kogan credit card.
For those who are loyal Woolies shoppers, we recommend checking out this article where we shared how customers can score big savings using their Everyday Rewards perks.
Members, what are your thoughts on this? Better yet, do you know other supermarket perks programs that can help save money while shopping? Share them with us in the comments below!
Also, we encourage you to share this article with your friends and loved ones so they can be informed of this change.
For customers who frequently shop at supermarkets, these programs can add significant value and savings to their shopping experience.
However, what happens when these programs come to a halt? It can be frustrating for customers who have come to rely on these benefits and may even cause them to switch to a different supermarket.
Such has been the case for Woolworths customers who were recently shocked to learn that their credit cards, which offered by Woolworths and included a monthly 10% discount on groceries, would be discontinued after an 8-year partnership with Macquarie Bank.
Unfortunately, this means that current Woolworths cardholders must find alternative ways to access the perks and savings they have become accustomed to.
A Woolworths representative confirmed: ‘This year, after careful consideration, Macquarie Bank has decided to no longer offer Woolworths credit cards, and as a result, existing Woolworths credit card accounts will be moved to Macquarie Bank credit card accounts.’
‘We'd like to thank our credit card customers for their loyalty over the years and remind them they can continue to get great value offers they had with their credit card, including the bonus 10 per cent off their monthly shop, through being customers of our Everyday Extra program, Everyday Insurance and Woolworths Mobile products.’
A Macquarie Bank spokesperson also commented on the matter, saying: ‘Macquarie has been the issuer of Woolworths credit cards for the past eight years and after careful consideration, we have decided to move Woolworths credit card customers to a Macquarie branded credit card as Macquarie will no longer be offering Woolworths branded credit cards.’
‘As part of the simplification of our credit cards business, since mid-2020 we've chosen to focus on offering credit cards to customers as part of a Macquarie home loan package. Macquarie branded credit cards remain an important part of our home loan offering. This reflects the broader shift in demand we are seeing from customers, who increasingly want to package their credit card and home loan together.’
Starting from June 2023, the Woolworths credit card rewards program will be replaced with the Macquarie rewards program for cardholders.
Any remaining credit card points will be automatically converted into a Woolworths eGift Shopping Card and sent to the email address on file, as stated in a notification.
Moreover, online access to the Woolworths credit card and the card's availability on the Woolworths Money app will cease. Cardholders will be able to access their account through the Macquarie Mobile Banking app instead.
While the Woolworths credit card will no longer be functional from October 2023, cardholders can enjoy the 10% discount on their monthly grocery shop until Saturday, 30 September 2023 by scanning the Everyday Rewards barcode at a Woolworths Supermarket branch.
It is worth noting that the Woolworths credit card operates independently from the Everyday Rewards program. Therefore, customers can still earn points by scanning their Rewards card, regardless of their payment method.
Additionally, members can still redeem $10 off a future purchase or 1,000 Qantas Points every time they accumulate 2,000 Everyday Rewards points.
Further information regarding changes to other Woolworths credit card benefits can be found on their support page. Affected customers may also contact the retailer via phone call 1300 10 1234 or email [email protected].
Unsurprisingly, holders of the Woolworths card have been sent into panic mode by the news and have taken to online forums to voice their disappointment.
One cardholder expressed their disappointment at the discontinuation of the Woolworths credit card and highlighted a potential issue that may resonate with many Australian families.
They wrote: ‘This credit card worked amazing for our family. Gaining over $600+ a year in gift cards made Christmas easy for us.’
Another customer lamented: ‘We were getting 10 per cent off our largest monthly shop, as well as approximately a $200 gift card every quarter for our daily household spending.’
‘The new program will not offer 10 per cent per month from October onwards, nor will it offer three points per dollar spent at certain retailers.’
Others expressed that they are already exploring alternative options to replace the discontinued card.
One user said that they were inquiring about ‘Coles MasterCard - Flybuys rewards’ while another recommended exploring credit card options from financial institutions such as Commonwealth Bank or ANZ, or a Kogan credit card.
For those who are loyal Woolies shoppers, we recommend checking out this article where we shared how customers can score big savings using their Everyday Rewards perks.
Key Takeaways
- Woolworths has discontinued its credit card that offered a monthly 10% discount on groceries after an 8-year partnership with Macquarie Bank.
- Starting from June 2023, the Woolworths credit card rewards program will be replaced with the Macquarie rewards program for cardholders.
- Woolworths credit card will no longer be functional from October 2023, but cardholders can still enjoy the 10% discount on their monthly grocery shop until 30th September 2023.
- Customers can still earn points through the Everyday Rewards program and redeem benefits, regardless of their payment method.
Members, what are your thoughts on this? Better yet, do you know other supermarket perks programs that can help save money while shopping? Share them with us in the comments below!
Also, we encourage you to share this article with your friends and loved ones so they can be informed of this change.