Morgan Stanley/Barclaycard cashback cut

Biggles

I got a letter from Barclaycard today telling me that, from a date that (AFAICS) isn't stated, the cashback will change from 1% on the first £2,000 in a year to 1% on the first £200 in each month.

Now, if you only ever make small regular purchases, that could end up as a slight increase.

But if you have heavier spending some months than others (don't we all?), or want to put a large purchase like a new TV on your card, you will only get 0.5% for all expenditure in that month after £200.

Some other interesting clauses (which may or may not differ from the existing ones) include losing all entitlement to future cashback if you (amongst others):-
1 Breach your Barclaycard conditions for 2 consecutive statement periods;
2 Ask for time to pay;
3 Make no transaction on your card for over 12 months.

On the plus side, your cashback will be credited each month without having to wait till it reaches £15 and then contacting them, as now.

big_mortgage

thanks for the info. Not received a letter yet.

Don't know whether I should ditch this anyway and just go for Egg Money. those MS A3 size statements are a pain anyway!

Biggles

At least I got rid of those stupid 4-page statements!

Asking over the phone got me nowhere ("It's illegal to not send you a paper statement". Eh?) but sending them back in their own envelope (unpaid) demanding I not be sent any more worked a treat ;-)

Moggles_2

Not received a letter yet, either.

Now the operation is run by Barclaycard, you can bet the silly 4 page statements will be axed. Statements don't come much smaller than B'Cards. Tiny print as well.

big_mortgage

Biggles wrote: »

("It's illegal to not send you a paper statement". Eh?)

I have been told that, but still don't get it, I mean, Egg are paper free and you can sign up to AmEx paper free too!

AmEx sent me a paper statement for a closed (paper free!) account with £0.02 outstanding!

6022tivo

Guys..

I spend approx £800 PCM on my Morgan Stanley card, and have not had the letter yet...

I have also just logged in and found that my current cashback of nearly £120 should of been paid to me in July just gone and hasn't??.

It is all still there, but the payment date has changed to June 08???

DoI have to call them to get the cashback/?.

I am sure it used to be a cheque?

big_mortgage

6022tivo wrote: »

Guys..

I spend approx £800 PCM on my Morgan Stanley card, and have not had the letter yet...

I have also just logged in and found that my current cashback of nearly £120 should of been paid to me in July just gone and hasn't??.

It is all still there, but the payment date has changed to June 08???


quote]

They take a while to pay, esp by credit back to the card, never have asked for a cheque as prefer not to stand in bank queue to pay it in!

Anyone know if they are going to re-brand the cards to Barclaycards

Moggles_2

6022tivo wrote: »

I spend approx £800 PCM on my Morgan Stanley card .. I have just logged in and found that my current cashback of nearly £120 should of been paid to me in July just gone and hasn't. It is all still there, but the payment date has changed to June 08? Do I have to call them to get the cashback? I am sure it used to be a cheque

Morgan Stanley used to issue a cashback cheque automatically on the anniversary of account opening. If memory serves, the Ts & Cs were changed about two years ago, enabling customers to request cashback at any time in multiples of £15.

Biggles

As Moggles says, it's been a year or two since they sent you cashback automatically, you have to ring and ask and tell them whether you want a cheque or credit to your account. But as that arrangement's now finishing, take no notice ;-)

And yes, Big Mort, they're rebranded 'Barclaycard Cashback'

Chris2000

Biggles wrote: »

As Moggles says, it's been a year or two since they sent you cashback automatically, you have to ring and ask and tell them whether you want a cheque or credit to your account. But as that arrangement's now finishing, take no notice ;-)

And yes, Big Mort, they're rebranded 'Barclaycard Cashback'

You can phone and ask for the accrued cashback in multiples of £15 until 21st August. After that, any accrued cashback that hasn't been claimed will be credited to the first Barclaycard statement.

www.barclaycard.co.uk/cashback

6022tivo

"Will my account number be changing?
Yes. In order for your account to be moved to Barclaycard and for us to provide you with all of the great new benefits, we will need to change your account number"

Great.....
I have around 6 payments that are ongoing that I will have to now call and change.. I think I will cancel.