amazon credit card closing down

SuperHan

The MSE article seems to imply that with the reward MBNA card rewards will carry on at 1%, just not in to Amazon vouchers?

I'm happy with that if it is the case, I guess it's just waiting and seeing until the end of September now until MBNA give any further information to card holders!

Froggitt

Carnival - sorry but my tolerance for spammers and fools has diminished somewhat over the years. Even when legitimate conversations here get heated, you will see I don't get personal.....or try not to!!!


And the issue about who was right is totally relevant, as my posts were written with the first sentence in mind.


Should I have let his ridiculous scheme go unchallenged, and some newbie then does the same? No.....however saying that, I didn't expect him to defend his daft scheme, and have it escalate.

GadgetGuru

Froggitt wrote: »

@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.

Ive actually checked with BoA/MBNA and the transaction has gone through my statement, with confirmation that there are no charges from the card company themselves. I'm one step ahead of you.

From the customer rep from Amazon.MBNA - A cash advance is when you take cash over the counter or from a ATM machine. My payment was directly to NatWest, and upon checking my account he confirmed that no charges had been applied whatsoever.

So thats NO charges from Natwest, and NO charges from Amazon/MBNA/BoA.

You seem to have plenty of time on your hands to check these matters, so heres another number: Customer Services - 0800 917 5235

I would advise an 'experienced' member of the forum actually confirms what he is taking about beforehand.

As I said before - please PM me if you have any issues with your attempt at 'educating' me rather then continue to derail the thread. Users wish to discuss the topic at hand rather then an 'experienced' member dragging a separate issue along.

GadgetGuru

SuperHan wrote: »

The MSE article seems to imply that with the reward MBNA card rewards will carry on at 1%, just not in to Amazon vouchers?

I'm happy with that if it is the case, I guess it's just waiting and seeing until the end of September now until MBNA give any further information to card holders!

If thats the case then I'm also willing to hold out!
So what would the reward actually be?

Krash420

Froggitt wrote: »

(currently BoA, not MBNA as suggested above)

Go to the Bank of America website (New user so can't post links), and read the copyright on the bottom right hand corner (which says ©2014 MBNA Limited. All rights reserved., as well as the "Terms of Use" section which states:

MBNA Limited, a Bank of America company, Registered Office: Stansfield House, Chester Business Park, Chester CH4 9QQ. Registered in England and Wales under company number 02783251. Authorised and regulated by the Financial Conduct Authority. MBNA Limited is also authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, Register Number: 204487 for the provision of payment services. Our phone number is 0800 456 1234. For the purpose of these terms and conditions of use, references to MBNA, a Bank of America company, shall include any "associated company" as defined in s416 of the Income and Corporation Taxes Act 1988.

They are effectively the same thing.

dj1471

SuperHan wrote: »

The MSE article seems to imply that with the reward MBNA card rewards will carry on at 1%, just not in to Amazon vouchers?

Yes, but only for 3 months, then it drops to their standard 0.5% non-Amex rate.

I'm not sure I want the hassle of having to convert the points into vouchers and based on the MSE article it doesn't sound like there's a whole lot of retailers to choose from when it comes to redeeming them.

I assume Mastercard have done something to prompt all these cards to be discontinued or drop their rates, I really hope they notice the resulting drop in customers and do something to rectify it!

(and please - cease and desist the bickering. If you want to sensibly discuss making mortgage payments with a credit card go start a new thread - it's off-topic here.)

GadgetGuru

One of the things I like about the Amazon card is that once 1000 points are reached the user is automatically sent a £10 voucher - no having to check/redeem etc.
It does seem like its the end of one of the top reward cards out there at the mo - shame! Cant really find anything as good so far!

SuperHan

dj1471 wrote: »

Yes, but only for 3 months, then it drops to their standard 0.5% non-Amex rate.

I'm not sure I want the hassle of having to convert the points into vouchers and based on the MSE article it doesn't sound like there's a whole lot of retailers to choose from when it comes to redeeming them.

I assumed 1 point = 1 penny, in which case it's 1% and 2% for the first three months. Rereading the article, I see that's not clear at all.

I have also assumed that the vouchers would be like those offered on the other MBNA reward cards. I can't find a list, but it looks relatively varied.

dj1471

SuperHan wrote: »

I assumed 1 point = 1 penny, in which case it's 1% and 2% for the first three months. Rereading the article, I see that's not clear at all.

That's what they want you to think! If you look back through this thread I found an article showing that the points are typically worth 0.5p (presumably there are some redemption options where they're worth more).

Since I buy almost everything online high street vouchers aren't a whole lot of use to me. Though if they allow conversion into Clubcard or Avios it might be worth keeping for the first three months... no idea if they do though.

SuperHan

dj1471 wrote: »

That's what they want you to think! If you look back through this thread I found an article showing that the points are typically worth 0.5p (presumably there are some redemption options where they're worth more).

Since I buy almost everything online high street vouchers aren't a whole lot of use to me. Though if they allow conversion into Clubcard or Avios it might be worth keeping for the first three months... no idea if they do though.

I suppose it's a case of wait and see! It's possible that there will be e-vouchers that are redeemable online (I hope so anyway) but given there's nothing jaw dropping on the market I'll probably hold on to it until something worthwhile comes along.