Barclaycard Cashback removing the 1% Amex card

Marchitiello

TheEffect wrote: »

I wonder if Barclaycard will just cancel the AMEX and let us use the same VISA card, or whether we'll all receive new VISA cards.

The letter Q&A also include specific indication that the card number will change and they will issue a new card.

Ps: not sure why you wanted to churn it as such, as the sign up offer are not usually comparable to the Amex's own. I plan to get the most benefit be spending the £7k in the last quarter of a specific year to get the upgrade voucher and then again on the first quarter of the following year, leaving the middle 2 quarters spending on my other Amex Cards (churning these for membership points)

iAMaLONDONER

TheEffect wrote: »

Lloyds constantly decline me. I had the Avios card with them a year or so ago, tried to churn it, been declined ever since.

Nothing wrong with my credit report, no problem getting any of the AMEX cards.

I wonder if Barclaycard will just cancel the AMEX and let us use the same VISA card, or whether we'll all receive new VISA cards.

What do you mean by 'try to churn it'?

TheEffect

I thought the Lloyds Avios card could be churned for the sign up bonus similar to the AMEX Avios and Gold Card. Turns out you only get the double Avios sign up bonus once with Lloyds, unlike the sign up bonus with AMEX, that you get every 6 months if you close/reopen the account.

jonesMUFCforever

Now that Lloyds have been given the go ahead by the regulators to buy MBNA it may not need AMEX as a partner for much longer?

Marchitiello

jonesMUFCforever wrote: »

Now that Lloyds have been given the go ahead by the regulators to buy MBNA it may not need AMEX as a partner for much longer?

Again, not sure about this as both MBNA and Lloyds have Amex cards linked to Airlines schemes and those type of customers could only be retained if the Miles earning rate stay at the level that the Amex network allow them to be.

WillPS

It's almost definite that Lloyds will be relaunching their duo-packs as Mastercard only soon. http://www.headforpoints.com/2017/01/13/possible-changes-lloyds-avios-rewards-credit-card/

Every indication is that Amex are trying to terminate all their licensing arrangements on the back of them being subject to the exact same interchange cap as Visa/Mastercard and so not profitable.

Nebulous2

Well I got my letter as well, yesterday. The timing is a bit tricky - cashback stops from 3/7/17, but card is valid for another 30 days. New one to arrive by 17/7/17, so there could be a short period of time where Amex card still works, but doesn't attract cashback.

It doesn't read to me like they will fight (pay money) to keep people. They outline the options available, including account closure, in quite a neutral way.

System

Nebulous2 wrote: »

Well I got my letter as well, yesterday. The timing is a bit tricky - cashback stops from 3/7/17, but card is valid for another 30 days. New one to arrive by 17/7/17, so there could be a short period of time where Amex card still works, but doesn't attract cashback.

It doesn't read to me like they will fight (pay money) to keep people. They outline the options available, including account closure, in quite a neutral way.

Even at 0.5% they are quite likely making a loss...

Nebulous2

Heng_Leng wrote: »

Even at 0.5% they are quite likely making a loss...

That may well be. I have a very minor attachment to it, as it has been running for a long time and transferred in from egg.

I also have a Nationwide paying 0.5% though. It might be as well keeping both in case one or the other of them bows out. I don't see the Barclaycard being used very often after July.

planteria

keeping them both makes sense, i think, and i wouldn't be surprised if that 0.5% is chipped away at. and as above, i reckon Lloyds-Amex will be on the way out too. for spending Amex Amex becomes the more clear choice, with MBNA and Barclaycard still the strongest BT players.