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

adindas

AFAIK the cash back is paid on the anniversary date.
So you will have to wait until anniversary date if you do not want to loose the cash back you have earned so far.

That is what I am going to do. For 0.5% I have other CC that are more superior than this.

PParka

I recieved my letter and was going to ditch it, but then remembered there is no fee for purchases abroad.

Decided to opt for the 0.5% cashback and stick it in my "holiday wallet"

jackieblack

lisyloo wrote: »

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

Couldn't Olympic Games tickets only be bought using Visa?
I seem to remember a couple of friends having problems because all their cards were Mastercard

lisyloo

Yes you are correct.
Visa sponsored the Olympics

http://www.dailymail.co.uk/news/article-2153008/Visa-branded-cynical-bans-rival-cards-Olympics.html

Roger1

FWIW the Visa monopoly for Olympics was valid in the UK only.

I was able to order tickets from the German agent using my American Express card or MasterCard.

Disclaimer: 'able' is a weasel word. I was able to do so but didn't complete the purchase. I was just testing the system because I thought the Visa monopoly on buying tickets stank.

That monopoly also prevented MasterCard/Maestro/Amex etc users from using the ATMs on site as they were restricted to Visa use only.

But lisyloo is quite right. I have never been forced to choose between Visa and MasterCards. Some countries may have more MC outlets and others more Visa, but ultimately all accepted both.

[Deleted User]

lisyloo wrote: »

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

Yes, I've had issues where a retailer (usually small) would only accept MasterCard or Visa.

But it wasn't in this country. I think Belgium was the worst country I found for this.

[Deleted User]

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.

As a frequent overseas traveller, the tiny credit limit offered on the Aqua reward card makes it almost unusable for overseas trips - the credit limit would not be enough to pay for one weeks hotel, let alone all the other expenses.

And even if I were to just use it in the odd bar/bistro, I'd be so worried about busting that tiny credit limit if I used it more than a couple of times (and hence lose the whole years cashback) I just wouldn't risk it.

I don't have time or the inclination to keep checking my available balance and making FP from my own bank account when travelling overseas ... even if I can find suitable internet access to do so.

Using Smart phones abroad for internet access can be very expensive too.

[Deleted User]

adindas wrote: »

AFAIK the cash back is paid on the anniversary date.
So you will have to wait until anniversary date if you do not want to loose the cash back you have earned so far.

That is what I am going to do. For 0.5% I have other CC that are more superior than this.

Cashback will be paid on the old anniversary date IF you apply for a new card

But if you have superior cards elsewhere anyway, let them close your account and you should get your cashback paid by cheque early February

[Deleted User]

From 22 January, Aqua will offer a new card, which only offers 0.5% cashback on spending. ...

If you want to get it, existing customers have to sign and return a new credit agreement by 31 December. As long as your account is in good order – with payments up to date and no arrears – you will be transferred to the new card.

You guys may want to double check that as that is not the way I read the notification.

I think your existing account needs to be in good order for them to even consider you as a customer for the new card, but you still then need to pass their credit check which they will carry out and record at the appropriate agency.

Also I'm not sure what credit limit they will provide on any new card. I don't think there is any guarantee they will match that previously given to you.

I'll probably never get to find out as I've just got my 4% Luma card, so probably won't bother even applying for a new Aqua card.

adindas

Starline wrote: »

Cashback will be paid on the old anniversary date IF you apply for a new card

But if you have superior cards elsewhere anyway, let them close your account and you should get your cashback paid by cheque early February

Thank you for let me know about this.
- Is there any documentation that I could refer that if I close it before anniversary date I could get my cash back that I have earned but have not been paid ?

- Or Could anyone else please confirm that this is the case

Thanks