Tandem Cashback ending 9th March

chistery

allan1954 wrote: »

seen this on Trustpilot is it true please as I dont want this credit card after March 9th.
The new £5.99 fee is a joke! Especially as you have to accept it or close your account - (which damages your credit score.)

If you have the cashback card and you don't opt in, it will be cancelled on the 9th March.

Closing an account should not affect your credit score.

allan1954

chistery wrote: »

If you have the cashback card and you don't opt in, it will be cancelled on the 9th March.

Closing an account should not affect your credit score.

I dont mean me to close the account I mean if tandem does it.

chistery

It won't make a difference who closes it.

chriswbolt

I have an Amex Platinum which I use whenever I can, so my Tandem card is only for stores which do not accept Amex. So it is most unlikely that I will spend enough to justify the fee. I will look at Aqua instead.

Fingerbobs

chistery wrote: »

If you have the cashback card and you don't opt in, it will be cancelled on the 9th March.

Closing an account should not affect your credit score.

It may have an indirect effect if the customer has to apply for another card from a different company to replace their Tandem card. That's a credit search that wouldn't otherwise have been necessary.

Life_goes_on_2

I also got the email
Was getting about £4 CB a month, not much but better than nothing.
I swapped from Clarity to Tandem due to Halifax removing the reward, but did keep the card.
I've just applied for the Aqua card wait and see the credit limit, if maxed out can use the Clarity.
I only want cards that are no fees abroad, also like to have two as a backup.

travellerboy

Why or why mess with a successful CASHBACK card. Wouldn't it be better to issue another card with the new terms for people to decide.
Unfortunately, bullish ideas from the top turned the card worthless. BYE, bye Tandem..........!

Nick_C

travellerboy wrote: »

Why or why mess with a successful CASHBACK card. Wouldn't it be better to issue another card with the new terms for people to decide.
Unfortunately, bullish ideas from the top turned the card worthless. BYE, bye Tandem..........!

It wasn't successful for Tandem. They were not making money from it.

Very difficult to make money offering more than 0.25% cashback on a mastercard or visa since the EU have capped the interchange fee.

Most of the FinTechs are operating at a loss while trying to establish themselves. Customers, fill yer boots while you can, 'cause it won't last.

chistery

The cashback wasn't that important to me. I wanted a decent Fintech type card, with instant notifications, FX free and a decent app. Most UK spend goes on a BA Amex card so I can earn Avios.

Tandem was one of the few that had got Google Pay working, with Apple Pay to come. Tymit and JaJa still say it's coming soon, but who knows.

It's a shame Tandem aren't just moving everyone to the Journey card instead, instead saying it's not an option and you can't apply for it.

chamelion

chistery wrote: »

The cashback wasn't that important to me. I wanted a decent Fintech type card, with instant notifications, FX free and a decent app. Most UK spend goes on a BA Amex card so I can earn Avios.

Tandem was one of the few that had got Google Pay working, with Apple Pay to come. Tymit and JaJa still say it's coming soon, but who knows.

It's a shame Tandem aren't just moving everyone to the Journey card instead, instead saying it's not an option and you can't apply for it.

you can apply for it - you just can't automatically switch over to it.