MSE News: Barclaycard revamps its cashback cards: Will customers lose out?

Explex

Just found this while trying to find out more and peoples opinions

Like in one of the previous posts, I held a Morgan Stanley Mastercard, taken over by Barclaycard which offered cashback. While this change isn't a real loss situation for me as such, I held this card as it was Mastercard against my alternative Visa.

Having made a phone call earlier, the first guy wouldn't say anything other than wanting to put me through to a supervisor. Maybe they have had lots of calls about this and that's their way to deal with it. The supervisor tried to give an explanation about the true reasons (sounded as though they are withdrawing all mastercard?) for the change but they did claim that Amex has surged in global availability, something that I am yet to witness and still read about merchants not wanting to use Amex because of their merchant account process and the fleecing transaction charges compared to other credit cards, hence the ability to offer slightly more cashback, plus they charge Barclaycard 1% too. On the surface, it doesn't look a great deal for Barclaycard to offer the Amex, something behind the scenes works in their favour and despite their claims, the Visa card would appear to be there to make the account actually usable.

Maybe I'm way off the mark, hopefully someone will correct me! Regardless, I am actively looking for (non-Amex) alternatives.

Aquamania

Explex wrote: »

Just found this while trying to find out more and peoples opinions

Like in one of the previous posts, I held a Morgan Stanley Mastercard, taken over by Barclaycard which offered cashback. While this change isn't a real loss situation for me as such, I held this card as it was Mastercard against my alternative Visa.

Having made a phone call earlier, the first guy wouldn't say anything other than wanting to put me through to a supervisor. Maybe they have had lots of calls about this and that's their way to deal with it. The supervisor tried to give an explanation about the true reasons (sounded as though they are withdrawing all mastercard?) for the change but they did claim that Amex has surged in global availability, something that I am yet to witness and still read about merchants not wanting to use Amex because of their merchant account process and the fleecing transaction charges compared to other credit cards, hence the ability to offer slightly more cashback, plus they charge Barclaycard 1% too. On the surface, it doesn't look a great deal for Barclaycard to offer the Amex, something behind the scenes works in their favour and despite their claims, the Visa card would appear to be there to make the account actually usable.

Maybe I'm way off the mark, hopefully someone will correct me! Regardless, I am actively looking for (non-Amex) alternatives.

Unless you are spending about £2000k+ every month, then the new barclaycard (visa) will give you more cashback than the existing mastercard, so I'm not sure why you are looking for an alternative.

However if you really do want a mastercard as well, check out the MSE credit card recomenndations - most UK card providers do actually issue mastercard it seems, so you shouldn't have too much issue finding one.

(I'm actually looking forward to this Visa card as all the accounts I have seem to have moved from Visa to mastercard over the years)

PBA

I just got the cards in the post this morning for my ex-Egg account. Not too worrying as I hardly use this card any more, and until they sent the letter saying they were ending I'd completely forgotten about the missed event cover and extended warranty. However Barclaycard hadn't told me they're getting rid of all their cashback cards. My main day to day card is the 2% supermarket cashback card. If they get rid of that I won't really have any reason to stick with Barclaycard any more and will switch all my spending to the Santander 123.

todrisin

I still haven't got my new cards as of the 27th June. I thought some date in June or July had been mentioned for customers who were direct Barclaycard Cashback card customers?


I must say, in addition to the useless cashback percentages and the Amex option, the gap between the statement date and the payment date is another annoying factor.


I will probably not bother using the new cards at all, and unless there's a cashback card that doesn't have a huge gap in statement and payment dates, I'll probably go back to paying for things on a debit card again.

deely

todrisin wrote: »

I still haven't got my new cards as of the 27th June. I thought some date in June or July had been mentioned for customers who were direct Barclaycard Cashback card customers?


I must say, in addition to the useless cashback percentages and the Amex option, the gap between the statement date and the payment date is another annoying factor.


I will probably not bother using the new cards at all, and unless there's a cashback card that doesn't have a huge gap in statement and payment dates, I'll probably go back to paying for things on a debit card again.

I haven't had mine either but got a letter yesterday saying they would be within next two weeks. My dad has already got his. I don't think I will use mine either as I have started using my Cap1 instead of Barclaycard as over the year it would give me approx. the same amount as I would have got from the old B'card.

planteria

mine haven't arrived...and long may that remain the case;)

i will cut them up when they arrive. in the meantime i am continuing to spend on the Hi5 account.

dekkard

todrisin wrote: »

I must say, in addition to the useless cashback percentages and the Amex option, the gap between the statement date and the payment date is another annoying factor.

Out of interest, why do you find that gap annoying?