NewDay Amazon Reward Points Change..

danielson81

I've just had an email from NewDay who manage the Amazon credit card. They are basically reducing the points you receive when you spend outside of Amazon, from 1 per £2 to 0.5.

I wonder if this will affect other NewDay cards, eg Debenhams?

We would like to let you know of an upcoming change to your Amazon Platinum Mastercard Rewards Points earn rate.

From 29 April 2019, you will earn 0.5 Amazon Reward Points for every £2 you spend outside of Amazon.co.uk (compared with the current rate of 1 point for every £2 you spend).

You will continue to earn 3 points for every £2 you spend at Amazon.co.uk with an eligible Prime membership*, or 1.5 Amazon Reward Points for every £2 you spend at Amazon.co.uk otherwise.

Any points that you have already earned will not be affected and you will continue to receive a £10 Amazon.co.uk Gift Card for every 1,000 points earned. You can see the points you have earned on each purchase by logging into your Online Account Manager.

Summary:

[Deleted User]

Nor necessarily, as there is profit sharing with each individual retailer, the terms of which vary.

JimLad

Disappointed to see this email this morning. Makes the cashback rate pathetic. Will be looking to move my credit card elsewhere. Will just keep this card for amazon spending

danielson81

JimLad wrote: »

Disappointed to see this email this morning. Makes the cashback rate pathetic. Will be looking to move my credit card elsewhere. Will just keep this card for amazon spending

- agreed! Quite annoyed as only had it a few months!

ScoobyZ

Shame, I will cancel. Only way people learn is to cancel. I do the same with all insurance renewals and suppliers.

20aday

I must admit I'm surprised it's lasted this long, with the cap on Interchange Fees, but if there's nothing in it for NewDay then I can see why they're changing the earn rate.

[Deleted User]

ScoobyZ wrote: »

Only way people learn is to cancel.

I'm not sure what you will learn from cancelling.

Certainly NewDay won't continue with an unprofitable product just to cheer people up.

20aday wrote: »

I must admit I'm surprised it's lasted this long, with the cap on Interchange Fees, but if there's nothing in it for NewDay then I can see why they're changing the earn rate.

Agreed. Revolving balances are low on all reward cards, so there's not much in the way of interest being generated.

ScoobyZ

Deleted_User wrote: »

I'm not sure what you will learn from cancelling.

Certainly NewDay won't continue with an unprofitable product just to cheer people up.



Agreed. Revolving balances are low on all reward cards, so there's not much in the way of interest being generated.

People as in companies. They will monitor the impact. If they cut rates and bonuses and no one leaves the cuts will continue.

want_to_save

this is the second time i have had an amazon credit card where the reward drops, applied to aqua hoping i dont get tooo low a credit limit

ScoobyZ

want_to_save wrote: »

this is the second time i have had an amazon credit card where the reward drops, applied to aqua hoping i dont get tooo low a credit limit

Same here. I'm off to Barclays - cashback and good rates abroad!

Plus works with First direct Internet Banking Plus!

[Deleted User]

It’s a massive disappointment