I.O.U

Usually mobile phone companies spam you with offers to get the latest phone or to upgrade your current plan to something more expensive with all these great offers and benefits.

Now that I am back in Melbourne for a short term holiday, I am on an Australian pre-paid phone so that I can call friends and family with cheaper call rates. I received a promotion today from the phone company outlining a scheme called the I.O.U credit.

In a nut shell, when you are low on credit (less than $1.50aud) and need to make that emergency call or text (it’s happened to me before) you can text the mobile phone company on 468 (IOU on keypad) and they will immediately give you $3aud credit.

The next time you recharge and get more credit, $3aud will be deducted from the credit your purchase. The $3aud credit is only valid for 3 days so any unused portion expires in 3 days and is non-refundable.

I think this is a great idea for those emergency situations.