amazon credit card closing down

Krash420

I received the letter today and am very disappointed at finding this out. Especially since from looking around, I can't seem to really find a deal worth getting. My current choices are:

1. Finding a AmEx + Visa card which offers 1%/0.5% with an opening bonus (Is there an alternative to the barclays one that does this that you can actually apply for... can't seem to find a link to apply to the barclaycard one)
2. Applying for AmEx + Visa from MBNA but gives points instead of cashback (link on MSE's CC page... as a newbie I can't post links)
3. Going for the American Express Platinum Cashback Credit Card which gives a 5% cashback on up to £2,500 of purchases in your first 3 months and 1.25% thereafter

Credit isn't an issue, and neither is using up the £2500 in the first three months because I'd get it starting October/November which would mean December is covered, during which I have my annual travelcard which costs around £2k which I put on my credit card.

That introductory offer with the AmEx Express Platinum is really good (£125 if I spend £2500) though I do have to pay £25 for the annual fee for it.

Now I obviously wouldn't want just an AmEx (I actually just cancelled an Avios AmEx which I barely ever used) so I'd probably keep the MBNA MasterCard if I took this option (if it gives me rewards that is...)

I would always prefer a straight out cash reward to points, and my question to people that may have the cards already are:
1. AmEx charges - when do they take them
2. AmEx - The offer is really only good for a year, as for the second year I'd only get £25 back which is the cost of the years membership, so really not worth it... If I close before the year is over what happens to any cashback I'm due given that it pays annually?
3. Anyone know what the MBNA Reward Points converted into Cash rate is?

I doubt I'll reach the £10k limit on the AmEx either, last year I barely spent 6k, and this year its upto 6.5k and though it may reach 8-9k, most of it has been in places which wouldn't accept AmEx. Any help in deciding is appreciated.

Biggles

Wonderful, it's finally become official 'MSE News' after the 100th post!

GadgetGuru

Froggitt wrote: »

Banks aren't in the habit of giving away free money. So I will be calling Natwest tomorrow about their free money offer.


I have an offset mortgage, so I plan on paying £10,000 on my cashback credit card every couple of weeks, paying it back every couple of weeks, rinsing and repeating until I hit my £100,000 cashback target. At which point I will be sailing around the world for a couple of years courtesy Natwest, and thanks to my little friend above for alerting me to this great deal.

What are you talking about - 'free money'??
I used a CC to pay INTO my mortgage - where did they actually give me any free money???

Rather then continuing to fill the thread with this, feel free to PM me if you wish to discuss further.

shadowdogg

Biggles wrote: »

Wonderful, it's finally become official 'MSE News' after the 100th post!

I use the term Jimmy Carr conned 'Satellite Delay.' They have done a bit of research though.

Krash420 wrote: »

1. Finding a AmEx + Visa card which offers 1%/0.5% with an opening bonus (Is there an alternative to the barclays one that does this that you can actually apply for... can't seem to find a link to apply to the barclaycard one)

Presumably you were reading through the thread and I did make a note that you cannot apply for it right now.

Carnival789

Froggit - as an experienced member of this forum your behaviour is dire, (and that's being kind). You really should know better. It's exactly this type of superiority complex that will eventually be the death of this forum. Newbies will stop posting if all they get is a set of patronising responses like yours.

Apologies to those who were expecting to read something here about the thread topic, but something needed to be said.

planteria

opportunities to benefit from such things do develop, and there is another forum where such things are discussed in great detail, without sarcasm. i think healthy scepticism is fine... but yes, if there might be an angle, i am interested to learn more.

Ifti seems to have discovered that he can make overpayments to his mortgage using his creditcard. if he wants to make overpayments, then earning cashback in the process has to be a good idea. it doesn't mean that everyone can do so though, regardless of the type of mortgage they have, and who it is provided by.

at the same time, the management of the forum is, at times, disgusting. it isn't hard to determine who is being fair & reasonable, and who are here intent to abuse other contributors for daring to trespass in their domain, telling lies knowing they will be supported by the moderators, who then claim to fail to understand.

alternative cashback/points cards are something i want to check out in the next few days, and there are not many options at all. perhaps a new thread, comparing & contrasting the options, is what we need..

Froggitt

Froggitt wrote: »

Banks aren't in the habit of giving away free money. So I will be calling Natwest tomorrow about their free money offer.

IftiBashir wrote: »

What are you talking about - 'free money'??
I used a CC to pay INTO my mortgage - where did they actually give me any free money???

Carnival789 wrote: »

Froggit - as an experienced member of this forum your behaviour is dire, (and that's being kind). You really should know better. It's exactly this type of superiority complex that will eventually be the death of this forum. Newbies will stop posting if all they get is a set of patronising responses like yours.

@Carnival - its experienced members like me that stop newbies doing something stupid just because some kid on a forum says its a good idea.

I called the Natwest number above (option 1 of 2/option 1 of 6). He is correct inasmuch as Natwest wont charge him a fee. However they report the transaction to Amazon (currently BoA, not MBNA as suggested above) as a cash withdrawal/cash advance, so Amazon/BoA then impose their charges on the cash withdrawal/cash advance. I believe these are 5% A transfer handling fee will apply of 5.0% of the transaction (minimum of £3.00), plus interest from the data of the withdrawal.

So, he will be charged £250 (plus daily interest) in return for receiving his £50 in Amazon vouchers.

Looks like the fasttrack to the poorhouse to me.

KTF

Froggitt wrote: »

So, he will be charged £250 (plus daily interest) in return for receiving his £50 in Amazon vouchers.

If something sounds too good to be true...

Froggitt

Exactly. Even free money costs a few hundred quid nowadays.

Carnival789

Froggit - are you seriously trying defend your behaviour? the issue about who was right and who was wrong is completely irrelevant here. its about showing people respect, which you have failed to do on multiple occasions.

Hi Planteria - Id be very interested to hear about this other forum. If rules prevent you from posting details here could you please PM me?

I've enjoyed browsing and (occasionally) posting here over the years but the increasing amount of Froggit-types and their complete lack of respect for others does drastically reduce the quality of the MSE experience for me.