MBNA Amex/Visa - cashback down to 0.5% / 0%

GingerBob_3

Got my letter today. A weak excuse they're giving for reducing from 1% to 0.5% on Amex and from 0.5% to nothing (!) on Visa - merchant fees, so they say.


This is a dual card account.


Where do we go now for 1%? These card companies are a bloody nuisance! Looks like yet another application is in the offing.

reclusive46

GingerBob wrote: »

Got my letter today. A weak excuse they're giving for reducing from 1% to 0.5% on Amex and from 0.5% to nothing (!) on Visa - merchant fees, so they say.


This is a dual card account.


Where do we go now for 1%? These card companies are a bloody nuisance! Looks like yet another application is in the offing.

Amex themselves offer 1.25%

dj1471

Amex aren't affected by the merchant fee cap, so their excuse is a simple lie.

The Amex Platinum Cashback cards pay 1.25%, with a good introductory bonus too.

planteria

that's disappointing that they've dropped the Visa element completely:sad:
American Express Cashback remains the best on the market, and is increasingly standing out.

boliston

why would anyone get an "amex" card from mbna? (did not know they even did them)

reclusive46

boliston wrote: »

why would anyone get an "amex" card from mbna? (did not know they even did them)

To be fair some of the airline MBNA amex cards are very competitive.

King_Of_Fools

Barclaycard are still offering 1%/0.5% on their dual cashback card but I cannot see that lasting much longer.

What worries me is that given the Amex Platinum is now head and shoulders above everybody else, I wonder how long it will be before Amex decides to drop the rate from 1.25% due to the lack of competition.

System

Not initially but 3rd party Amex issuers (such as MBNA) are due to be affected in due course.

dj1471 wrote: »

Amex aren't affected by the merchant fee cap, so their excuse is a simple lie.

The Amex Platinum Cashback cards pay 1.25%, with a good introductory bonus too.

reclusive46

Heng_Leng wrote: »

Not initially but 3rd party Amex issuers (such as MBNA) are due to be affected in due course.

This is due to be reviewed, so may not be the case. (+ we have a EU referendum on between now and then).

System

We're obviously from different parts of the UK.
The EU is a non-issue here.

reclusive46 wrote: »

This is due to be reviewed, so may not be the case. (+ we have a EU referendum on between now and then).

jm0221

I have the joint MBNA Visa/Amex and I got the letter today but it saying its down to 0.25% Amex and 0% for Visa. So perhaps its time to look elsewhere.

Any others? I pay off every month and my current spend on the Amex/Visa is 12k with most of it on Amex so keeping with it for the next year saying all being spent on Amex (which it wouldn't be) at 12k roughly is only £30.


Or maybe direct to Amex for this one: https://www.americanexpress.com/uk/content/platinum-cashback-everyday-credit-card/
Not sure on the Visa aspect, then just close the MBNA one.