amazon credit card closing down

King_Of_Fools

Herbalus wrote: »

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.

But where can you get a savings account that pays you 3% drip feeding £1000 per month?

Herbalus

King_Of_Fools wrote: »

But where can you get a savings account that pays you 3% drip feeding £1000 per month?

Santander 123?

Or alternatively the Newcastle big home saver ISA allows you to save £1250 each month and pays 2.4%, equivalent to 3% for a taxpayer.

Or you can think flexibly. Tsb plus, nationwide flexdirect, Lloyds club reg saver and FD reg saver, to name but a few , are able to take plenty of cash combined, and all pay over 3%

vns

Calt1973 wrote: »

I do not think that this has been mentioned yet, but does anyone else think that Amazon might be launching its own version of a credit card before long? I mean the company has been around for a long time, established itself, if PayPal could do it, why not Amazon to be honest?

I think you're onto something.

related article...

http://online.wsj.com/articles/amazon-unveils-mobile-payment-app-and-card-reader-1407932568

vns

noelphobic wrote: »

I thought Amazon only paid 0.5%?

Depends when you got the card.

My first one (~2009) was 0.5%
My recent (2013) two Amazon MBNA cards were 1% (2% at Amazon)


Hope that clarifies...

noelphobic

bonjan wrote: »

I've just called MBNA at their Amazon CC number 0800 917 5235 and they told me that the Amazon MasterCard is being replaced by either:

- a MBNA MasterCard
- a dual Amex + Visa set of cards

Which of those you get as a replacement is apparently decided by them and should be stated in the letter (I've got the MasterCard).

I've been told that on both cases loyalty points will be awarded on all money spent on those (at 1 point per £ on Visa and MasterCard and 2 points per £ on Amex).
No mention though about the value of those points.

Assuming points will have the same value as in the MBNA More Rewards Credit Card Account (the dual Amex + Visa), any one knows the value of points awarded on that one?

They also said they have no way of stopping the new card (or cards) being sent to you other than closing the account, so no point on calling them to ask for that unless you want to loose already accrued Amazon points.

I got my letter today to say I would be transferred over to the Mastercard. There was no mention of any cashback or points.

ScoobyZ

Just switched from Barclays (was Egg) to this in May and got my payment dates sorted.

Will be switching again, ironically I have another MBNA 0% card which ends in October so will be paying that off with some savings and closing that too.

Hopefully Amazon will have another provider by then or another deal will come up.

It looks like decent cashback cards along with decent ISA rates are a thing of the past.

planteria

perhaps worth holding onto the pair, ScoobyZ... and then asking for a repeat deal from MBNA, or applying for a new BT card. and merging the 2 or 3 limits on to that card.
then you can think about a different spending card altogether:)

Roger1

vns wrote: »

http://online.wsj.com/articles/amazon-unveils-mobile-payment-app-and-card-reader-1407932568

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It's a Murdoch paywall.

Chino

Roger1 wrote: »

It's a Murdoch paywall.

It doesn't seem to be related/relevant in any case. From the little of the article that's visible, it seems to be about Amazon making a gadget available to small US retailers that allows them to use a mobile to accept card payments.

SuperHan

noelphobic wrote: »

I got my letter today to say I would be transferred over to the Mastercard. There was no mention of any cashback or points.

My letter doesn't mention points, but I rang today and they said it would be a points card.

They also said, however, that conversions were only to the Mastercard points card, not the two card Amex points card, and the only way to get that is to cancel and reapply.