Barclaycard to drop 1% cashback Amex card

Former_MSE_Megan_F

Almost 500,000 Barclaycard customers will see their Amex card stopped this summer and replaced with a new Visa card which offers only half as much cashback. If you're one of them, you may be able to earn much more by switching to another cashback card.....

Read the full story:
'Barclaycard to drop 1% cashback Amex card'

SamDude

Thread already started: Barclaycard Cashback removing the 1% Amex card

michaels

It is quite funny - I was just wondering what reason I would give Barclaycard CS to claim my £50 'don't leave us' credit from Barclaycard this year and this drops straight into my lap.

surreysaver

Well, its not really a 'new' Visa card, as the Amex card comes with a Visa which already pays 0.5% anyway. They're just getting rid of the Amex card.

crumpetman

It is a new visa card in as much as account holders will receive a new card with a new number to replace their existing card. So a bit of a hassle if you have some recurring payments setup or stored in online retailer systems.

surreysaver

Also, just re-read my letter - the new card is not being sent out until after they've stopped paying interest on the existing one.

20aday

I noticed in the article:

They added: "As a result of regulatory developments in Europe, American Express is discontinuing its network licensing arrangements. As the Barclaycard Cashback card is issued as part of one of these, it is being withdrawn."

So Lloyds Bank etc must be following suit shortly.

PeacefulWaters

20aday wrote: »

I noticed in the article:

They added: "As a result of regulatory developments in Europe, American Express is discontinuing its network licensing arrangements. As the Barclaycard Cashback card is issued as part of one of these, it is being withdrawn."

So Lloyds Bank etc must be following suit shortly.

I assume there's a contract with a set number of years in that's been signed with Lloyds.

It all depends on how long is left on that.

Marchitiello

But the article is also suggesting to get the Aqua Card at 0.5% as an alternative as well as only giving Amex own alternatives ... why would you want to apply for a Subprime card whilst the substitute from a Barclaycard will give you the same cashback? Basically they could have made it clear in the article that it was worth to get the Amex own Cashback card and keep the Barclaycard as an alternative...