Tandem Discussion & Feedback

They just sent the same email they sent a few days ago but with a different subject: “URGENT: Important changes to your Tandem Cashback Card”. Uptake must be low…

I’m still not applying for the new offer as it is not suitable for me.

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Yeah I think they may release a way to continue with the Journey card just before, as giving them that option now may lose people that would have coughed up. However Ricky made a silly mistake imo and let on that it hasn’t been coded yet, hence the cat meme above about their devs need to get cracking.

I think it was greed over losing money but I’m purely guessing. :man_shrugging:

I don’t see how they could be making money as the interchange fee is capped at 0.3% but they give cashback of 0.5%. They will make money on people who don’t pay off in full each month but the requirements to get a cashback card were high and the credit limits low so I doubt there were many people who weren’t paying the whole balance each month.

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.

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Oh, I see. Yeah, I totally agree. I’d have to almost max out my card to break even. I can see the value in 0% for some people, but that’s a new product completely.

I honestly don’t know what they were thinking…

Tandem current account- I am now on the wait list- will be interesting to see how they treat joint account customers :sweat_smile:

Link to CA?

https://campaign.tandem.co.uk/queue-success?kolid=<<%20Test%20Social%20ID%20>>#

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So what card will people be switching to?

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.

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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.

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My Aqua card arrived this morning, and it is contactless :grin: :grin: :grin:

One less reason for the Barclaycard then!

Reports? I saw one post :thinking:

Every Aqua card I’ve seen has been contactless, including both of mine.

Mine is not contactless. Even requested it be changed recently and was refused because I don’t “qualify”, whatever that means!

Curve is very useful as a result… Also use it to top up Revolut.

Yeah, you’re the only one. That I’m aware of. Does seem extremely strange.

Mine is also not contactless

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.

But then aqua has automatically increased my credit limit several times. Surely that’s more risky than the card being contactless!

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.