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Changes to the MasterCard and RedCard

The Warehouse Financial Services Limited has appointed TW Money Limited (operating under Warehouse Money brand) to manage The Warehouse MasterCard and Red Card Accounts.

The Warehouse Mastercard and Red Card

As a result, The Warehouse MasterCard and Red Card Conditions of Use are changing throughout November and December, to reflect the change of management. You'll be notified by mail about these changes and the exact dates the changes will take effect. The key changes are:

1. All terms and conditions relevant to the accounts will change. From the effective date (which you will be notified of by mail) the new terms and conditions can be found at

2. In particular, the terms and conditions relating to the following will change:
a. the amount of the interest rates and how any interest charges are calculated and applied
b. the amount and method of calculation of payments to be made in relation to the accounts
c. the amount, frequency, time for payment and method of calculation of fees and charges in relation to remaining balances

d. your Credit limit can no longer be increased or decreased.

3. In addition, there will also be changes to:
a. your available balance, which is now nil (and will not change despite payments)
b. the ways to pay us
c. the way you contact us
d. the way to make complaints
e. what you need to do if you are having trouble paying

f. what information we’ll collect and ask for, what we’ll use if for, who we can share it with, what information we can tell credit reporting agencies about you, and what they’ll do with that information.

4. The full details of these changes, and all of the other changes resulting from the new terms and conditions, can be found in the terms and conditions.   

5. A summary of changes to the terms & conditions can be downloaded here

MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.

Changes to SmartGuard credit card repayment insurance

From 1 December 2016, there will be a reduction in the premium you pay for SmartGuard. Here's what's changing:

1. Your premiums: Your premiums will reduce. Currently, you are paying 78c for every $100 (pro-rated) on the amount you owe on your account. Your new premium charge will be 74c for every $100 (pro-rated) that you owe.

2. Your policy document: The policy document has been updated to reflect the new premium charge. A copy of the policy document can be found here.

Important things to note

While your premium and policy document are changing, your benefits, level of cover and who is covered will not be changing. Your SmartGuard cover will end if you choose to cancel it or once you've paid off what you owe on your account and your account is closed.