MSE News: Goldfish credit card rewards to be cut

edited 9 July 2010 at 4:50PM in Credit Cards
27 replies 5.6K views
Former_MSE_GuyFormer_MSE_Guy Former MSE
1.7K Posts
I've been Money Tipped! Newshound! Chutzpah Haggler
edited 9 July 2010 at 4:50PM in Credit Cards
This is the discussion thread for the following MSE News Story:

"Goldfish credit card customers have less than a month to cash in their points before their rewards are slashed in half ..."

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Replies

  • I got their letter last month and traded in my points this week (£15 M&S vouchers; I am not a big spender!). They arrived yesterday and included a letter saying that they were going to credit my account with 1000 points in August; I suppose that they think it is a sweetener and to keep customers from switching.
    I will still be looking around for an alternative.
  • I'm surprised they are allowed to do this. No problem with reducing the value of reward points after a certain date (with reasonable notice) but it's the retrospective application of the reduction that seems wrong to me.
    Not that it is much of a problem for me. The only use my Goldfish card gets is my very small 18866 phone bill every couple of months.
  • MancBrelMancBrel Forumite
    223 Posts
    These reward points have been gradually devalued for quite some time now. You used to be able to work it out on the basis that for every pound you spent, a penny in points was earned. Though this hasn't been the case for a while now.

    I find the best value in the cinema vouchers. They also make nice presents! Looks like I'll be going to the cinema a lot over the next few months then, which is good! Used in conjunction with the restaurant vouchers via this site, it can be a very enjoyable and cheap night out.

    It also looks like I need a new credit card, with decent rewards?
  • This is a reminder that the Goldfish rewards page does not work in Firefox.
    It works in Internet Explorer. I wasted about an hour before I remembered.
    I also think that the devaluation is very dodgy and will have to lose value on over 1000 points.:(
  • SaverSueGSaverSueG Forumite
    107 Posts
    Thanks Martin for reminding me in the weekly mail to cash in my points. Just one thing though, its 2,500 points for a £10 reward not 1,750. They put it up not long ago, just before I got to 1,750! Wasn't well pleased then, and less so now but at least I just made the 2,500 (2,548!!)

    Funny thing is, I had a Barclaycard years ago and cut it up and sent it back when they started charging an annual fee (now dropped). I got a National Provincial card, which was taken over by LV, then by Goldfish, and then by Barclaycard. Never did like them much! Will review my options again now. :D
  • SystemSystem Forumite, Community Admin
    177.9K Posts
    10,000 Posts Name Dropper
    Forumite
    We have two cards with them. I have been 'purchasing' double points for £2 per month, which was a good deal for me as i can route a lot of spending through it. Have had no letter regarding the cut. Wonders where that leaves me?
  • Thanks for this warning! I had 21,000 goldfish points so I've just redeemed them at the old rate to get £120 worth of John Lewis vouchers. After 1st August they'd only be worth £60. What a swizz, and I don't recall getting any letters from Goldfish about this.
  • Mrs_MoneyMrs_Money Forumite
    1.6K Posts
    Part of the Furniture
    Thanks for the reminder - I had the letter, but didn't really take in that it would affect points I'd already earned!

    I'm looking into a Partnership credit card (John Lewis) as I usually get John Lewis vouchers with my points anyway (and spend in Waitrose) I think they give points - not sure what they redeem at though. They may of course, be just as bad as Goldfish is now!
  • SunnydaySunnyday Forumite
    3.9K Posts
    Part of the Furniture Combo Breaker
    I`ve just received my vouchers from redeeming the last of my points, they came in really handy for a wedding prezzie for a friend.

    My last DD for the Goldfish card is up next month and as soon as my new CC is up and running i shall be cancelling Goldfish.

    The points used to be really good some time ago but the current offering is pants. There don`t seem to be any really good rewards out there anymore.

    I`ve chosen the Co-op members card to replace it which pays dividends twice per year based on spends, had to join as a member first then apply for the CC, cashback is a penny to a pound for co-op spends and a penny per £2 everywhere else. The more i`ve read on the site the more i like their way of doing things so fingers crossed that i`ve made a good choice.

    SD
    Planning on starting the GC again soon :p
  • I'm looking into a Partnership credit card (John Lewis) as I usually get John Lewis vouchers with my points anyway (and spend in Waitrose) I think they give points - not sure what they redeem at though. They may of course, be just as bad as Goldfish is now!

    Partnership give 1 point for every £1 spent in John Lewis, Waitrose and Ocado, and 1 point for every £2 spent everywhere else. You get a £10 John Lewis voucher for every 1000 points. The vouchers are sent out automatically 3 or 4 times a year. They do have expiry date on them though, which the ones from Goldfish don't have.

    So currently they are not as good as Goldfish for spending anywhere other than in their stores but they will be better after 1st August. I am planning to use my Partnership for all my transactions as soon as I have enough points on Goldfish to get another voucher.
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