Barclaycard World MasterCard (Ex Egg Money) Being Replaced with Amex + Visa Combo

planteria

LOOsenD wrote: »

Is this a Cashback deal or a BalTransfer offer ?

Cashback deal, LOOsenD.

reclusive46

planteria wrote: »

is that right? Card Processors charge retailers an increased rate for 'Reward' cards?

https://www.mastercard.com/us/wce/PDF/UK_DMC.pdf

Acquirers charge more money than this to merchants but shows the extra charge.

planteria

thanks...which exact figures are you picking out?

reclusive46

planteria wrote: »

thanks...which exact figures are you picking out?

chip and pin and enhanced electronic are generally the figures you want to be looking at in the top box. This is just what the terminal providers are charged though (and what the issuer makes). Most small retailers will be charged 0.5% extra on normal cards and 1% on reward cards on top of what the provider is charged. It gets even worse when you take a foreign card as you can be charged an extra 1% for a non-uk swipe and sign card and another 1% for it being a non-eu card. There is also an extra card fee for corporate and business cards. This is why hotels and other travel companies love American Express, you pay the fee your given for all cards.

bubieyehyeh

I've also got a barlcaycard that pay 0.5% cashback but 2% cashback on petrol and supermarket, anybody know if this card is likely to be "downgraded" also?

Milarky

bubieyehyeh wrote: »

I've also got a barlcaycard that pay 0.5% cashback but 2% cashback on petrol and supermarket, anybody know if this card is likely to be "downgraded" also?

Our promise: we may not pay the top rates any longer but won't confuse you with complicated tiers

(and we won't roll on the floor laughing our ###s off either... promise )

planteria

the letter i have received today doesn't mention a bonus of £15 for spending £300. i think, from the above, that people with the High5 account are not being offered this.

re. the Annual Fee it says "we'll refund any amount you haven't used". what does that mean? a proportion of the fee, ie. the part of the year that you have paid for but not retained the card for??

it seems that i need to be gunning for:

1. Inconvenience Fee of £45
2. Refund of Annual Fee of £24
3. Bonus of £15 for spending £300

anything else?:A

APM74

reclusive46 wrote: »

Barclaycard has been pushing Amex to its merchants. Most Barclaycard merchants also aren't eligible for promotional Visa/MC rates if they don't accept Amex.

The rates really aren't much different considering the fact you can pay an extra 1 or 2% when taking a reward Visa or MasterCard.

That's interesting, when I last negotiated merchant fees for a company I was introducing to cards, the Amex merchant % was still much higher than Visa/MC, and it just wasn't worth considering - it was about 2 years ago mind you so things look to have changed then. At that time there was no difference for reward -vs- normal cards.

APM74

planteria wrote: »

i doubt it. i don't find many places that don't take Amex nowadays anyway...just the Post Office.

I guess it depends where you shop - supermarkets are for the most part fine, but I still find more often than not other places don't accept it (B&Q for example still amazes me they backed out of it).

pwharley

Last year, I was attracted to the Luma Cashback Card, which offered 4% cashback on supermarket and fuel spending. However, it was pulled before I could apply. :-(

http://www.luma.co.uk/cashback-credit-card/

I wonder when "...in the New Year" they will be bringing it back? Hopefully before July!