amazon credit card closing down

SavingFish

Having paid off in full every month (cashback would be very quickly rendered meaningless if used in any other way) they offered me the non-rewards card.

Bye bye MBNA.

Good luck trying to understand credit card provider logic though.

I applied for a Lloyd's card as a replacement. After being initially declined I sent a letter refuting every possible reason they could have had (Other than "you won't make any money out of me". Pointing that out would be unlikely to help.) Result - offered the highest limit card I've ever had.

Go figure.

Froggitt

SavingFish wrote: »

Having paid off in full every month (cashback would be very quickly rendered meaningless if used in any other way) they offered me the non-rewards card.

Bye bye MBNA.

Yup you're of no value/revenue/profit to them!!!

Doc_N

Froggitt wrote: »

Yup you're of no value/revenue/profit to them!!!

This may well be the basis on which they make the decision. My balance is always paid off each month - and I have the no reward points letter with the 'AMZ2NR' reference. AMZ for Amazon, presumably, and NR for 'no rewards'.

Not to worry (although they give the impression that they'll reconsider if pushed) - a combination of Halifax and Amex cards will produce rather more than the Amazon card produced, so it's all change from tomorrow.

SavingFish

Froggitt wrote: »

Yup you're of no value/revenue/profit to them!!!

That was what I was assuming, yes. I merely offered it as a data point in relation to the question regarding profit vs default risk.

I guess they're after that sweet spot in the middle - so that's where Goldilocks went after ransacking the bears' house!

callum9999

Doc_N wrote: »

This may well be the basis on which they make the decision. My balance is always paid off each month - and I have the no reward points letter with the 'AMZ2NR' reference. AMZ for Amazon, presumably, and NR for 'no rewards'.

Not to worry (although they give the impression that they'll reconsider if pushed) - a combination of Halifax and Amex cards will produce rather more than the Amazon card produced, so it's all change from tomorrow.

It clearly isn't. While of course they would prefer people to pay interest, paying off your card in full each month makes you a steady and reliable customer. As someone implied above - why would people bother using 0.5% cashback cards if they're paying out 20% odd in interest?

I'd be willing to wager that the average customer on this type of card will generally pay off in full. And that doesn't necessarily make them profitless customers.

ScoobyZ

I've just cleared my zero % mbna card and now that I am in the 'pay it all off and get no rewards' card, I'm going to cancel my amazon mbna too.

Hopefully someone will partner Amazon from tomorrow (1st October) and they will be able to announce it once they are out of contract.

reclusive46

rbn wrote: »

I had the Amazon card but I've gone for the Amex everyday cashback card with the 18 month 0% period available here or at moneysupermarket. Need to spend £3000 to get the cashback but if that fails still benefit from the 0% period at least. Hoping it will be also be contactless so I can use it on the Tube which will net me a lot of spend straight away.

The Amex everyday will be contact less.

callum9999

rbn wrote: »

I had the Amazon card but I've gone for the Amex everyday cashback card with the 18 month 0% period available here or at moneysupermarket. Need to spend £3000 to get the cashback but if that fails still benefit from the 0% period at least. Hoping it will be also be contactless so I can use it on the Tube which will net me a lot of spend straight away.

If you want to use the Amex on the tube then just use it to top up an Oyster card.

Not quite as elegant as using the Amex directly, but not a hardship either!

rbn

Yes, fair enough, that was probably a stupid statement. I find contactless quite convenient otherwise though.

Froggitt

Doc_N wrote: »

This may well be the basis on which they make the decision. My balance is always paid off each month - and I have the no reward points letter with the 'AMZ2NR' reference. AMZ for Amazon, presumably, and NR for 'no rewards'.

Good spot. My letter has the same. I also pay off the balance every month.


I paid off the balance last month and snipped it then. Just waiting for my Amazon voucher so I can close the account and snip the new cards when they arrive. I have no interest whatsoever in a non-cashback card......surely they were aware of that from the fact that I had a cashback card in the first place.