MSE News: Aqua axes 3% cashback credit card – should you ditch and switch?

aleph_0

marks7389 wrote: »

The new card can clearly be beaten for UK spend, but what about overseas spend?

I have a Clarity Rewards card which will pay £5 cash back on a £300 spend in one statement period (max 1.67% if you spend exactly £300), but that doesn't appear to still be available (and was only ever an option for Halifax account holders).

0.5% plus no rate loading is otherwise about as attractive as it gets unless anyone else has spotted better.

I think the Clarity Reward is still available:
http://www.halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/#Clarity_Rewards_Credit_Card

grumbler

Normal Clarity doesn't pay 0.5% cashback on overseas purchases.

A simple article indeed. Extremely superficial.

marks7389

aleph_0 wrote: »

I think the Clarity Reward is still available:
http://www.halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/#Clarity_Rewards_Credit_Card

I see the comment under the Common Enquiries box to apply for the Rewards card by visiting a branch.

Getting one for my wife as well is probably the best way to go....

juliamarsh

I have never had this happen to me before, that a credit card was completely axed rather than just introducing less advantageous Ts & Cs. Really fed up as such a great deal, it seemed too good to be true and clearly it was! I guess because it was aimed at people with a poor credit history the company thought they would make lots of money out of charging customers interest and not have to pay out much cashback, but they reckoned without us savvy moneysavers who have effectively used it as a 3% savings account and not brought them in any profits! Have ordered a Luma credit card which will be good at 4% cashback but limited to £9 cashback/month so only £225 spending/month and only on supermarkets and petrol - still it will be a help. I had better get spending on the aqua one to rack up as much cashback as I can before 22nd January!!
:rotfl:

Masomnia

Herbalus wrote: »

A simple article. Suggests the Amex Platinum, but Aqua is marketed at those with poorer credit scores, so their customers are completely different. Plus, the 5% is only for three months so very short-term, and afterwards reverts to a much lower level of interest, only going to 1.25% if you spend over £10,000 a year.

The article also neglects to mention, as some people have said on the threads, that a credit check is carried out if you want the new 0.5% card.

I'm in exactly this boat.

I'm not bad with money, I just earn !!!!!! all. There's no way I'll get an Amex card

Still, as people have said it was good whilst it lasted.

Cisco001

ditch...

My new approach is Luma card + Amazon card + Halifax charity reward.

anon_ymous

inmypocketnottheirs wrote: »

I'll still keep the card as I'm a frequent traveller and it saves on overseas transactions. Not had a letter though.

Hmmm I think Ill probably ditch because a) They gave me a pretty !!!!!! £250 limit and b) I have a Nationwide Select credit card as well as a N&P debit card, to use abroad

The downside of course is that they're both Visa's,and it's always good to have both a Visa and a mastercard, but I'm not going to keep a credit card JUST because it's another network, considering that nationwide give you 0.5% on every thing you buy, with no max cashback limit (Tbf, you do have to spend £20,000 to get £100 at 0.5% )

Gromitt

You have no option but to ditch, as all existing accounts are being closed. You can either apply for the alternative card (in which case they'll do a free balance transfer) or look elsewhere.

Personally, I'll let them close the account. It's not worth the hassle for 0.5% with the pathetic £500 limit. Decent whilst it lasted though!

matty_art

Shame it's going - looks like I might be getting the Luma card for initial in-month spend, then reverting to a combination of MBNA 1.5% supermarket card and Capital One 1% card for the rest of the month's spend.

Annoyingly I wanted to put a reasonably sized purchase on my Aqua card the other day but was too close to my credit limit - at the time, I thought it wouldn't matter as I'd still reach to £100 max in year. Oh well!

lisyloo

and it's always good to have both a Visa and a mastercard

I don't think I've EVER had a problem in 25 years with this.
Has anyone actually encoutered it?