Aqua Reward Credit Card - 3% cashback up to £100/year

Gromitt

DragonQ wrote: »

Hmm interesting. I can't read the T&Cs by the way since they're not on the website and I haven't received a letter. Might be worth checking the T&Cs of the Reward Card to see if it used the same terminology.

I see my existing paperwork for Aqua includes "Indicative rates can be found at: www.mastercard.com/global/currencyconversion". I don't know if they missed off that from the new card, or are intending to go with their own exchange rates (hence the "please phone us").

I guess time will tell!

Anyway, I've decided that I'll just let the card die, as I have other cards which allow free foreign transactions already. I only used Aqua for the 3%.

deutsch

i've received my letter today. disappointed to see it go.

there is a bit in the stuff sent:

"i am unhappy about your decision to close my account and with the new aqua reward card offer; how do i make a complaint"?...

anyone making a complaint and seeing how they might respond?

aleph_0

deutsch wrote: »

anyone making a complaint and seeing how they might respond?

I expect making a complaint will be about as useful as trying to solve an algebra equation by chewing bubble gum. They've kept to the T&Cs, which is all we can expect.

(No letter for me yet, have my fingers crossed that they're not canceling all the cards, and they might have a misconceived idea that I'm likely to pay interest any time soon. But I think I'm being hopelessly optimistic)

Gromitt

deutsch wrote: »

anyone making a complaint and seeing how they might respond?

I doubt they would be replying along the lines of "We'll let you keep your account open", so although I read it, it seemed a little pointless to complain, plus they are giving us over 2 months notice to go and get all the cash back we can.

Atidi

deutsch wrote: »

i've received my letter today. disappointed to see it go.

there is a bit in the stuff sent:

"i am unhappy about your decision to close my account and with the new aqua reward card offer; how do i make a complaint"?...

anyone making a complaint and seeing how they might respond?

Credit is a privilege, and not a right.

As such, a credit card provider can withdraw their card from you at any time, as per the terms and conditions you agreed to prior to them providing the credit card (or as subsequently amended and accepted by you).

Withdrawal of the card is no basis for any complaint.

DragonQ

Got a statement today, dated 11th November. Nothing about the card being stopped.

Roger1

Gromitt wrote: »

... "If you make transactions in a foreign currency we will change the amount to sterling at the payment scheme exchange rate used by the payment system on the date the transaction is passed to us by them. You can find out this payment scheme exchange rate by calling us on the customer services number shown on your monthly statement."

To me, that makes no reference to a specific rate (eg. standard master card conversion rate).

(My bolding.)

A specific rate will depend on a particular transaction - rates change all the time so you won't get a specific rate for a future transaction but you can phone for a historic rate if your calculator is broken..

The T+Cs you quote mention 'payment scheme' and payment system', both of which would be MasterCard.

Atidi

DragonQ wrote: »

Got a statement today, dated 11th November. Nothing about the card being stopped.

I've not had any letter yet either.

My bill is due any day now and I was thinking they would enclose it with that to save on postage, but it seems probably not from your experience.

Perhaps its not everyone that are having their cards withdrawn?

I mean it does seem very odd. It must have cost the company a small fortune attracting all these customers in the first place by offering such a cashback, why would they just dump them and expect people to re-apply for a new card (which presumably many won't, and some that do may end up being rejected)??? :huh:

The only time I have known cards to be withdrawn entirely was when a company changed their credit card provider e.g. Asda did this a couple of years back.

With cashback cards, if a card supplier finds it unsustainable to continue to offer the cashback originally offered, they usually just reduce the cashback on offer ... and still retain all the cardholders they originally had, and not suffer the cost of having everyone re-apply, assess their application, and issue new cards (and presumably PINs) as required.

antonio1

Has anyone come across a management email address so you can send some documents by email (which you can't do on the online contact us). Can't find anything at ceoemail.

michaels

I haven't had the letter but presumably if it is an MSE announcement then it will be everyone. We have done DW for 2 x £100 but I didn't start my card until February thsi year so only one lot for me and no chance of doing the 3.5k for next year if the account is closed at the end of Jan

If I were into year 2 I would be tempted to spend a lot on returnable stuff just before the account is closed next year, wait for the cashback cheque and then return the items purchased