amazon credit card closing down

tabby_cats_mum

Well that's my £50 a year in Amazon vouchers gone! Disappointed that this is happening so will be watching this thread to see if anyone can find a credit card that's as good. I haven't so far.

Carnival789

Got my letter yesterday, will be really sorry to see this go.

I also have a 123 credit card (first year) but was going to ditch the 123 in favour of my amazon card. Back to the drawing board now. Current offers on cashback cards (I treat amazon card as a cash back card given you can buy virtually anything there) are poor in comparison, so it might be time to do some number crunching and find out if stoozing is a better money-spinner!! I've always avoided it til now but I guess you have to move with the times!

Roger1

spikeydudeuk wrote: »

Does anyone know of any decent/equivalent alternatives? There are plenty of cards that give 0.5%, but this is the only one I know of without a fee where the rewards even approached 1%!

danjourno wrote: »

At the moment, can't find anything above 0.5% on Mastercard ...
Following this thread to see if anyone comes up with anything new.

Well, there's one mentioned in this thread offering 1-2% cash equivalent.

Hint: #13.

SuperHan

Has anyone looked at the MBNA more rewards credit card?

I can't find anywhere on MBNA how point translate to pounds, but this website : http://www.lovemoney.com/news/20003/mbna-launches-reward-credit-card seems to indicate you get 1% back for Amex spend

[4,000 points = £2,000 Amex spend = £20 voucher]

Vouchers offered look quite wide ranging, although amazon doesn't appear to be an option.

shadowdogg

g6jns wrote: »

Despite the mess they have made of the change to the two card system In reckon that Barclaycard Amex and VISA is a reasonable deal. I a have found that 90% of my spend is on the Amex card that pays 1%. The cashback can be taken at any time.

Just realised.. they aren't accepting any new customers... balls!!!

Herbalus

Roger1 wrote: »

Well, there's one mentioned in this thread offering 1-2% cash equivalent.

Hint: #13.

Trouble is that card gives vouchers to lastminute.com, which doesn't appeal to the vast majority of people. I think most people would be likely to take the M&S or John Lewis 0.5% store vouchers than 1% lastminute.com vouchers.

Herbalus

Carnival789 wrote: »

it might be time to do some number crunching and find out if stoozing is a better money-spinner!! I've always avoided it til now but I guess you have to move with the times!

It is. It takes more effort but the rewards are higher. Slow stoozing for 18 months at 3% makes you a whopping 391% better off than a 0.5% cashback card. If you're basic rate tax that drops to 312% better off because you only get 2.4% in savings.

In fact, my spreadsheet suggests that if you have a 0% CC then it's only in the last 3 months that any spend earns you more on a 0.5% cashback card than in a 2.4% savings account.

£500/month gets you £45 of 0.5% cashback in 18 months: the same amount gets you near £141 slow stoozing*.

*Calculations include minimum payment of 3% of balance. I'm not 100% convinced these figures are perfect, but they're in the right direction.

Doc_N

This one (1.25%) looks to be about the best of the bunch now for higher spenders:


https://www.americanexpress.com/uk/content/platinum-cashback-credit-card/

£25 annual fee but:

5% cashback on up to £2,500 of purchases in your first 3 months of Card membership

2.5% cashback on all purchases for one month every year if you spend more than £10,001 in your previous 12 months of Card membership

An ongoing 1.25% cashback on virtually every full pound you spend


£21 cashback if you apply through Topcashback.

Not perfect (because of the fee, and because Amex isn't universally accepted - you'll need a second card) but if you spend a fair bit on your card it's likely to be worth switching to.

noelphobic

I thought Amazon only paid 0.5%?

Doc_N

noelphobic wrote: »

I thought Amazon only paid 0.5%?

Some Amazon cards pay 1% and some 0.5%. It depends when you applied - they changed the cashback from time to time.