S3turbo

Currently have a Kiwibank Platium CC and I see a number of the other banks (including Kiwibank) are offering bonus points. As usual this is for new customers, has anybody had any success getting anything out of them to retain your business as an existing customer.

JANZFlyer

Nope and doubt this will happen sadly. I don't see any real incentive for them to do this.

nzkarit

Have had some luck. But is a struggle.

sbiddle

Depends on your relationship with your bank. If you're simply not wanting to pay fees but have nothing else with them they simply won't care. You're a low value customer.

Have a relationship such as a mortgage or investments and banks are always keen to negotiate.

mmonster

I hate to disagree with you, I had in one of my other threads... my struggle was and is with ANZ, they do not want to give in to the idea of waving my credit card fee so I simply jumped, I have mortgage with them but they said it is not relevant. NZ is too small - look Asia and seldom any bank dare to charge annual fee as competition is just too strong, you just need to use the card and they will treat you like king (may be a bit over the top, but it feels like it compared to NZ)

TraderX

Had pretty heavy spend on Kiwibank airpoints platinum, they were offering 300 APD to new customers, I asked for fee waiver, they said no. I ditched them. Its sad that you have to churn to get the best deal..

dadig

Curious what is the spend you are putting on your cards to consider a negotiation with them?

sbiddle

I've had no issues getting my fee waived with ANZ over multiple years. Having said that I simply haven't asked this year.

The Comcom report into interchange was due out this month (was actually due in the middle of last year) and if as expected we follow what Australia and EU have done then expect very little power to negotiate and a sudden end to many of the deals.

JANZFlyer

Spend of over 100k on Kiwibank card, have only had the fee waived once. They did not waive it other times, to be honest the fee is low so have not asked recently. ANZ has been much more obliging, I barely spend on their card due to status point earn differences and they waive the fee every year, I am with private banking and they are my main bank so maybe that plays a role.

dadig

With Westpac waiving fees for 50k spend over 6 months I always thought that would be a good benchmark for others to measure by. Then again the interchange fee for MasterCard varies based on the type of card

paintini

I've had many years of KB waiving my Pt card fees and also those of my two children who are additional card holders off mine. As GE, I have no use for the lounge access but the kids use them a lot. Advantage of KB over ANZ; lounge passes are accessible from all card holders.

Needed to get my wife up in the CC status points and her ANZ Pt had lower rate, so applied for a new KP Pt using the AIR 300 promo code. She will get billed $75 but we'll cancel in under six months; net benefit $225. If I get low on CC lounge passes, we'll just move one of the kids to her card to vacuum up some passes as she's *G so also does not need the passes!

My wife does not pay anything with her ANZ Pt card but probably it's just flagged to never get billed. No mortgages with ANZ but decent CM accounts. We don't want to ask why no fees in case it's "fixed".

mmonster

this just reassured me that it was a great move to jump - there is no point when other places are treating their customers better- I know I do not have much with them but to me it is all that I do with them, it is what it gets my heart. There is no point to try year after year and there are better, much better things to do then to try to start this conversation.

Johnnynz

I had some luck with Kiwibank. I messaged them in there internal messaging service asking about the waived fees and an airpoints bonus dollars offer, they credited me the 125 APD on my next months CC earn. That was in 2015, haven't tried again recently.

I was very surprised as I had no home loan or anything with them, I would consider myself a very low value customer to a bank spending probably less than 10k a year on the card at that stage in my life. Funnily enough it was pretty effective for them as I was thinking of leaving Kiwibank due to an issue I had and just typing this up I realized its three years later and I didn't move.

wackyflyer

So what is in it for the bank to waive fees. I spent about 75k a year on anz card, though admittedly haven�t paid a dime of interest in years as I pay off each month. Why would the bank waive the fees? All they are making is the margin from retailers from my purchases, occasionally on foreign exchange fees.

sbiddle

75k is a HUGE margin for them in interchange.