Tandem Cashback ending 9th March

IvanDP

Ghostcrawler said:

can you see your transaction list since you paid paid off the card in full and notice any unknown transaction? just by seeing all the transactions you should tally up

Think it may have been a bug.
I've just taken your advice and tallied up all the transactions and it was right.
Reopened the app and it's now showing the +ve balance again 

Ghostcrawler

good to know but a very strange and unexpected bug.

Gerry1

It's probably still a 'pending' transaction.

leodis23

chamelion said:

leodis23 said:

My Tandem cashback this month amounted to 66p... I usually get arount £5-6 minimum and continued my normal spending habits, so looks like they've already started cutting people off from the card's benefits

By any chance was some of that spending considered balance transfers? I just queried my statement and they told me its because I've used curve to make payments considered balance transfers which don't count towards cashback any more. 

I did test topping up my Revolut card a fiver to see if I would get charged the new fee (via Curve) and got a cash transaction fee, so that could've been it. Fortunately topping up my Nutmeg is still fee-free so should still get cashback for that.

peteduk

Hello,
Thank you for all your replies.
I have also confirmed directly with Tandem:
Cashback will be allocated until 9th. My bill will be issued on it's normal date (18th) and I will have 25 days to pay - everything as normal.
Hope this helps others, and sorry for not asking there 1st. I got sucked into some of the posts above saying cashback will not be paid,
Cheers, Peter

wiseonesomeofthetime

djjd70 said:

 (latest to appear is 10% cashback for £20+ Morrison's spend). 

Boooo! I have just used my Morrison's offer which was 5% cashback for £40+ spend 
I know that all offers vary from customer to customer as have experienced similar with other cards, and seen threads on MSE Forum on same subject.

TaxedAndSpent

Pealp said:

This was my first reaction, but then I considered the other benefits and it seems quite interesting at face value to be honest.

- Current account at 1.5% AER is pretty good - only Santander and a few others match this as far as I can tell, and they are limited in one way or another. This seems like unlimited at 1.5%?! (it doesn't say unlimited anywhere, but I can't see a limit either - perhaps worth it to confirm)

- 0% interest on purchases is likewise quite tempting. In effect that means an additional 1.5% cashback if you turn all your credit into savings and pay it off slowly enough

There might be downsides that I'm not seeing, but it seems quite good even with the £6 monthly fee.

My initial reaction was to cancel the card as well. Even my Amex card only costs me £25 a year and I tend to only use Tandem (like many others on here) for purchases in places that don't accept Amex, so paying £72 a year for a card that I don't use as often was a definite non-starter. Or so I thought...

Then Santander decided to drop the interest rate on its 123 account to 1% - and suddenly Tandem's linked savings account at 1.5% started to look tempting. If I switch my 123 account to a 123 Lite, I immediately save £4 a month in fees, which at least partially offsets Tandem's "membership" fee. I could then move most of the Santander money into the Tandem savings account, and maybe start utilising the Tandem card more when travelling abroad (since the 0% offer seems to extend to cash withdrawals as well as purchases, unless I've missed something in the small print). Maybe I could even switch from paying my card off in full every month to just paying off the minimum amount, seeing as that won't cost me anything either.....

Or then again, in the light of their CEO's recent rather crass remarks, maybe I should go with my gut instinct and ditch Tandem after all, and just go and deposit the savings in my Santander 123 account into Marcus instead..... 

Oh, hang on a minute, they've just reduced their interest rate too....to 1.3%! 

Think I'm going to have to have a lie down!

DanMar

TaxedAndSpent said:

Pealp said:

This was my first reaction, but then I considered the other benefits and it seems quite interesting at face value to be honest.

- Current account at 1.5% AER is pretty good - only Santander and a few others match this as far as I can tell, and they are limited in one way or another. This seems like unlimited at 1.5%?! (it doesn't say unlimited anywhere, but I can't see a limit either - perhaps worth it to confirm)

- 0% interest on purchases is likewise quite tempting. In effect that means an additional 1.5% cashback if you turn all your credit into savings and pay it off slowly enough

There might be downsides that I'm not seeing, but it seems quite good even with the £6 monthly fee.

My initial reaction was to cancel the card as well. Even my Amex card only costs me £25 a year and I tend to only use Tandem (like many others on here) for purchases in places that don't accept Amex, so paying £72 a year for a card that I don't use as often was a definite non-starter. Or so I thought...

Then Santander decided to drop the interest rate on its 123 account to 1% - and suddenly Tandem's linked savings account at 1.5% started to look tempting. If I switch my 123 account to a 123 Lite, I immediately save £4 a month in fees, which at least partially offsets Tandem's "membership" fee. I could then move most of the Santander money into the Tandem savings account, and maybe start utilising the Tandem card more when travelling abroad (since the 0% offer seems to extend to cash withdrawals as well as purchases, unless I've missed something in the small print). Maybe I could even switch from paying my card off in full every month to just paying off the minimum amount, seeing as that won't cost me anything either.....

Or then again, in the light of their CEO's recent rather crass remarks, maybe I should go with my gut instinct and ditch Tandem after all, and just go and deposit the savings in my Santander 123 account into Marcus instead..... 

Oh, hang on a minute, they've just reduced their interest rate too....to 1.3%! 

Think I'm going to have to have a lie down!

Ive tried to figure out how to make this card too work but I’ve currently got 1.5% interest savings on up to £10,000 with RBS savings builder (Still available). Also have the John Lewis partnership credit card paying 0.5% cashback albeit as vouchers, second card after Amex so not earning enough cashback for that to be a problem. Currently have a pitiful £1200 credit limit on Tandem so not enough to be able to benefit from no interest charges. Potential for a massive stooze if you had the credit limit I suppose but £6.99 is a massive dent in the interest. I think the only people this card makes sense for is anyone who constantly lives off credit cards or in an overdraft, in which case £6.99 is a bargain in comparison to overdraft/credit card/payday loan fees. 

Tildaplum

Yes that is true - if you went overdrawn by £1,500 and the overdraft rate was 39% then you would be paying getting on for £48 a month for the privilege rather than the £6.99 Tandem would charge you.

 Maybe my maths is wrong but that does seem to be quite a big difference I wonder if Tandem will increase their fees

Nenco

For me, the main reason to get the Tandem Credit Card last year was to improve my Credit Score as I didn't have a Credit Card yet but planning to buy a house this year. Now with the ridiculously high cost I cancelled the card, but am now facing a dilemma: Do I leave things as is and continue without a Credit Card hoping that my Credit Score won't go down too quickly? Or do I get a new Credit Card to continue showing credit, however leaving a Credit Check trace?
I'm planning to apply for mortgage at some point this year. This is why I got the Tandem card way in advance, so the Credit Check from when applying for it didn't affect my mortgage, but now all this planning was for nothing...