phildawson
(Sorry, I will have to escalate this.)
578
I was commenting on losing money. I think with the cash withdrawal fees, late payments, DD fails they would be at least be covering the 0.2%. It’s obviously not as simple as that.
I’m basically saying I don’t think they were in a shit we need £6 from each customer to still be breaking even or not losing as much.
I think they got greedy and could have gone with £2 or pushed it to £3 and may have got 4 or 5 in ten people going “hmm, ugh, ok I’m fine with that”, and be raking it in. With £6 I think they’ll be lucky in getting 1 in ten people accepting that.
I’ve applied and been accepted for a Barclaycard Rewards card. I went for this as I knew the app is alright whereas I am unfamiliar with the Aqua card’s app.
I also don’t mind the lower 0.25% cashback as it’s very minimal cashback on any of these cashback cards anyway, but the Barclaycard isn’t capped like Aqua’s is. I also was a little concerned with the reports that Aqua’s card isn’t contactless, which made me settle on the Barclaycard.
I also like that the Barclaycard is ‘connectable’ to a number of apps such as Emma and hopefully soon Monzo as they used to support it but currently don’t support it.
Oh and Apple Pay! Which I’m definitely looking forward to as a benefit over the Tandem card I had previously.
I went for the Amex Platinum Everyday Cashback credit card. Generous starting limit too.
5% cashback for the first three months up to £2000.
0.5% from £0 to £5000 spend (when outside of the promotion).
1% for over £5000 spend per year
No annual fee.
Cashback awarded annually.
And for non-sterling transactions, abroad, cash withdrawals etc I will use my good old MBNA that has no fees (no longer available for new customers). It’s a VISA but I can always use it through Curve for purchases with the MasterCard exchange rate if I want to.
If you’ve not got contactless it’s not luck of the draw it’s because your credit risk is too high. I know a number of banks, Lloyds for certain, also do this based on credit risk.
It must be some other scoring mechanism they’re using to determine eligibility for contactless. I’d love to know what exactly it is but I’m not sure any bank will be forthcoming.
I’ve gone with Halifax Clarity. I’m told it’s the same forex rate as Monzo/Tandem, with no fees, but shame they don’t have any rewards. I’ll only use it abroad anyway - I use Virgin Atlantic at home. Should have kept the MBNA Horizon!
