Tandem Cashback ending 9th March

Gerry1

Zanderman wrote: »

Can you?

Works for me. Text is received before you even get the receipt !

flergalwit

One thing I couldn't immediately find online. If we decide not to plump for Tandem Membership then the card cannot be used for purchases after 9 March. Do we need to repay any balance immediately (9 March) before incurring interest or do we get our interest free month for purchases up to 9 March, paying it back sometime in early April? Any idea?

gt94sss2

flergalwit wrote: »

Do we need to repay any balance immediately (9 March) before incurring interest or do we get our interest free month for purchases up to 9 March, paying it back sometime in early April? Any idea?

You will get the normal interest free period to pay it off.

diamondchap

Zanderman wrote: »

Can you?
The app interface and website interface both seem to offer this but it is based on 'transactions over' a limit you specify.
I've tried £1, £10, £100 etc and the system won't save the request - I click save and it reverts to 'No alert'.
I assume it's either broken or the transaction value isn't high enough.

Yes I can. I use the app on Android and it works fine with the limit set at £0.

4_Pete's_Sake

I was initially as angry as most of you when I learned of Tandem’s decision to introduce an extortionate £5.99 a month charge. HOWEVER, I soon changed my mind and am now glad that they did this, as it caused me to do research into other Credit Cards, which I may not otherwise have done. Subsequently I have now discovered that I can obtain much more Cashback elsewhere.

Following my research my wife and I have now applied for and received our new American Express Platinum Cashback Cards which we applied for via Quidco giving us an extra £20 Cashback. Unlike the old days, Amex Cards are now accepted in the vast majority of places but perhaps not to such an extent in small independent retailers.

We spend on average £24k a year on our Credit Card, which is of course paid back “IN FULL” every month, therefore with Tandem our Annual Cashback would be £120.00.

With our new AMEX card we will receive the following Cashback:

5% Cashback in the first 3 months, up to a maximum of £125.00. However as we only have to spend £2500.00 to achieve this we will probably spend the other £3500.00 on an old AA Credit Card that we have, which still gives us 0.5% Cashback, which will yield an extra £17.50 Cashback in the first 3 months, in addition to the £125.00 with Amex.

1.25% Cashback on the £18k that we will spend in the following 9 months yielding Cashback of £225.00.

Therefore total Cashback in the first year of £367.50 or £362.50 if you take off the £5.00 fee (also allowing for the Quidco Cashback). That is a whopping £242.50 better that I got in the last 12 months with Tandem.

Of course in subsequent years it won’t be quite as good. In the 2nd year we will receive 1.25% Cashback on £24k, which is £300.00, lest the £25.00 annual fee = £275.00. That is still £155.00 better than Tandem.

I appreciate that not everyone will spend as much as £2k per month on their Credit Card. However if you are likely to spend at least £10k per year (£833.33 per month) then look at the AMEX Platinum Everyday Cashback Card that has no fee.

This will give you 5% Cashback during the first 3 months up to a maximum of £100.00 and then 1% thereafter, so a further £75.00, plus if you apply through Quidco you’ll also get an extra £15.00 Cashback from them. Therefore, in year one you make £190 in Cashback compared to just £50.00 if you spent £10k with Tandem. In subsequent years a £10k spend will net you £100.00 in Cashback, again compared to £50.00 with Tandem. (Please note that if you don’t quite manage to reach £10k of spending in a year then you would receive 0.5% Cashback rather than 1%) the same as Tandem’s is now.

It really is a "NO BRAINER". Ditch Tandem and move to AMEX.

I applied 3 days ago, got instant approval with a high credit limit and received our Cards in the post this morning. I have got their App up and running on my phone where I can instantly check our transactions, but unfortunately at this time they do not give immediate notifications of transactions like Tandem or send text messages. However I have already recommended this to their Customer Services who thought it was a great idea and they will be looking into it.

chamelion

4_Pete's_Sake wrote: »

I was initially as angry as most of you when I learned of Tandem’s decision to introduce an extortionate £5.99 a month charge. HOWEVER, I soon changed my mind and am now glad that they did this, as it caused me to do research into other Credit Cards, which I may not otherwise have done. Subsequently I have now discovered that I can obtain much more Cashback elsewhere.

Following my research my wife and I have now applied for and received our new American Express Platinum Cashback Cards which we applied for via Quidco giving us an extra £20 Cashback. Unlike the old days, Amex Cards are now accepted in the vast majority of places but perhaps not to such an extent in small independent retailers.

We spend on average £24k a year on our Credit Card, which is of course paid back “IN FULL” every month, therefore with Tandem our Annual Cashback would be £120.00.

With our new AMEX card we will receive the following Cashback:

5% Cashback in the first 3 months, up to a maximum of £125.00. However as we only have to spend £2500.00 to achieve this we will probably spend the other £3500.00 on an old AA Credit Card that we have, which still gives us 0.5% Cashback, which will yield an extra £17.50 Cashback in the first 3 months, in addition to the £125.00 with Amex.

1.25% Cashback on the £18k that we will spend in the following 9 months yielding Cashback of £225.00.

Therefore total Cashback in the first year of £367.50 or £362.50 if you take off the £5.00 fee (also allowing for the Quidco Cashback). That is a whopping £242.50 better that I got in the last 12 months with Tandem.

Of course in subsequent years it won’t be quite as good. In the 2nd year we will receive 1.25% Cashback on £24k, which is £300.00, lest the £25.00 annual fee = £275.00. That is still £155.00 better than Tandem.

I appreciate that not everyone will spend as much as £2k per month on their Credit Card. However if you are likely to spend at least £10k per year (£833.33 per month) then look at the AMEX Platinum Everyday Cashback Card that has no fee.

This will give you 5% Cashback during the first 3 months up to a maximum of £100.00 and then 1% thereafter, so a further £75.00, plus if you apply through Quidco you’ll also get an extra £15.00 Cashback from them. Therefore, in year one you make £190 in Cashback compared to just £50.00 if you spent £10k with Tandem. In subsequent years a £10k spend will net you £100.00 in Cashback, again compared to £50.00 with Tandem. (Please note that if you don’t quite manage to reach £10k of spending in a year then you would receive 0.5% Cashback rather than 1%) the same as Tandem’s is now.

It really is a "NO BRAINER". Ditch Tandem and move to AMEX.

I applied 3 days ago, got instant approval with a high credit limit and received our Cards in the post this morning. I have got their App up and running on my phone where I can instantly check our transactions, but unfortunately at this time they do not give immediate notifications of transactions like Tandem or send text messages. However I have already recommended this to their Customer Services who thought it was a great idea and they will be looking into it.

Amex isn't new... Its been top runner for years.
Problem is despite what you think, it still isn't universally accepted compared to visa /MC. I also had tandem as a travel card, I wouldnt dream of using Amex for that...

So the gap now is a travel card that offers cashback.

diamondchap

4_Pete's_Sake wrote: »

I applied 3 days ago, got instant approval with a high credit limit and received our Cards in the post this morning. I have got their App up and running on my phone where I can instantly check our transactions, but unfortunately at this time they do not give immediate notifications of transactions like Tandem or send text messages. However I have already recommended this to their Customer Services who thought it was a great idea and they will be looking into it.

So great that the Android app already gives instant notifications (if you're connected to a data network). Account>Notifications> Purchase Alerts 'On'.

SuiDreams

4_Pete's_Sake wrote: »

I was initially as angry as most of you when I learned of Tandem’s decision to introduce an extortionate £5.99 a month charge. HOWEVER, I soon changed my mind and am now glad that they did this, as it caused me to do research into other Credit Cards, which I may not otherwise have done. Subsequently I have now discovered that I can obtain much more Cashback elsewhere.

Following my research my wife and I have now applied for and received our new American Express Platinum Cashback Cards which we applied for via Quidco giving us an extra £20 Cashback. Unlike the old days, Amex Cards are now accepted in the vast majority of places but perhaps not to such an extent in small independent retailers.

We spend on average £24k a year on our Credit Card, which is of course paid back “IN FULL” every month, therefore with Tandem our Annual Cashback would be £120.00.

With our new AMEX card we will receive the following Cashback:

5% Cashback in the first 3 months, up to a maximum of £125.00. However as we only have to spend £2500.00 to achieve this we will probably spend the other £3500.00 on an old AA Credit Card that we have, which still gives us 0.5% Cashback, which will yield an extra £17.50 Cashback in the first 3 months, in addition to the £125.00 with Amex.

1.25% Cashback on the £18k that we will spend in the following 9 months yielding Cashback of £225.00.

Therefore total Cashback in the first year of £367.50 or £362.50 if you take off the £5.00 fee (also allowing for the Quidco Cashback). That is a whopping £242.50 better that I got in the last 12 months with Tandem.

Of course in subsequent years it won’t be quite as good. In the 2nd year we will receive 1.25% Cashback on £24k, which is £300.00, lest the £25.00 annual fee = £275.00. That is still £155.00 better than Tandem.

I appreciate that not everyone will spend as much as £2k per month on their Credit Card. However if you are likely to spend at least £10k per year (£833.33 per month) then look at the AMEX Platinum Everyday Cashback Card that has no fee.

This will give you 5% Cashback during the first 3 months up to a maximum of £100.00 and then 1% thereafter, so a further £75.00, plus if you apply through Quidco you’ll also get an extra £15.00 Cashback from them. Therefore, in year one you make £190 in Cashback compared to just £50.00 if you spent £10k with Tandem. In subsequent years a £10k spend will net you £100.00 in Cashback, again compared to £50.00 with Tandem. (Please note that if you don’t quite manage to reach £10k of spending in a year then you would receive 0.5% Cashback rather than 1%) the same as Tandem’s is now.

It really is a "NO BRAINER". Ditch Tandem and move to AMEX.

I applied 3 days ago, got instant approval with a high credit limit and received our Cards in the post this morning. I have got their App up and running on my phone where I can instantly check our transactions, but unfortunately at this time they do not give immediate notifications of transactions like Tandem or send text messages. However I have already recommended this to their Customer Services who thought it was a great idea and they will be looking into it.

I have already been using the Amex for years, I only had a small spend each month on Tandem.


I think you have calculated your cashback on the Amex card incorrectly, if you are spending £24K per year, you wouldn't get 1.25% on £18K as the 1st £10K per year is at 1% its only the spend above £10K that gets 1.25%

chistery

I get Amex (near) instant notifications on my iPhone and Android.

jbryce

4_Pete's_Sake wrote: »

I was initially as angry as most of you when I learned of Tandem’s decision to introduce an extortionate £5.99 a month charge. HOWEVER, I soon changed my mind and am now glad that they did this, as it caused me to do research into other Credit Cards, which I may not otherwise have done. Subsequently I have now discovered that I can obtain much more Cashback elsewhere. [...]

I have Amex, and use it for most of my expenditure. However, there is usually about £80 per month of expenditure from suppliers who don't take Amex, and the garage that maintains my car doesn't take Amex, so once or twice a year, there is a much bigger balance.

Also, Amex isn't good for foreign purchases. It is network rate plus 3% margin, and their network rate is a bit worse than Mastercard for USD and a bit worse than both Visa and Mastercard for all other currencies.