Change to Curve card price levels, and new Curve X level

wiseonesomeofthetime

blue.peter said:

That got a more appropriate reaction from them - a confirmation that they've cancelled my account. (I'm not sure why they refer to "cancelling" the account rather than closing it. It seems a slightly odd usage to me.)

I think it's because they may not actually close your account.

When I tried to re-join Curve for a financial incentive (cashback), after closing it down two years earlier, I was told that I already had an account and that's why I couldn't create a new one!

They reactivated it instead. I needed it to be able to use a couple of credit cards through Google Pay.

blue.peter

wiseonesomeofthetime said:

I think it's because they may not actually close your account.

When I tried to re-join Curve for a financial incentive (cashback), after closing it down two years earlier, I was told that I already had an account and that's why I couldn't create a new one!

They reactivated it instead. I needed it to be able to use a couple of credit cards through Google Pay.

Possibly, though that'd still be an odd usage. What you describe would be better called a suspension than a cancellation.

WillPS

Having said that, I'm not really surprised by the changes. Several people have been saying for a while that the original business model looked unsustainable. 

I don't think these changes make the free product any more sustainable though, to be honest. The problem is that every transaction will cost them more to process than the tiny comission Mastercard will pay them. Their arbitrage potentially comes from retailers willing to pay a comission to them (i.e. for their cashback scheme) and FX (which will never apply in the majority of their transactions unless they reposition as a travel product - in which case consumers would expect 0 or very minimal FX rates).

Other than that they are reliant on whatever they can do with the data they're hoovering up and subscriber payments.

The launch product (which came with a Mastercard Commercial pre-paid card, which would attract a much higher comission since it is outside the scope of the interchange fee cap) was potentially viable but then scaling a product which can only be issued for business use is a challenge. Catch 22.

k_man

Update in the Curve community about what will happen to current free tier users, with more than 2 cards. 

https://community.curve.com/t/curve-x-feedback/42113/269

2 funding cards limit on Free tier from the 27th of August:

I can also clarify the confusion surrounding the implementation of the 2 card limit for the free tier after the 27th. To confirm, the product team are currently building logic for the app which will automatically limit Free tier users to two active funding cards in the Curve app from the 27th of August.
This means that the claim that you’ll be able to continue using the cards already in your wallet past the 27th of August until they expire or are manually removed is false. However, this is still in development and I will discuss this with the product team, bearing your feedback on this in mind when I do.

I’m sorry for any misinformation that’s been provided and for the confusion caused.

A_T

I've had an email to say that "Your business card will stop working soon". As far as I am aware I have the basic free card.

"A few weeks ago, we announced changes to our free tier and introduced Curve X.

As part of those changes, you won’t be able to use commercial cards on our free tier after August 28. "

what do they mean by "commercial cards"? It's all rather confusing.

k_man

In Curve, do you have any cards used for business expenses?
Or a card from a business bank account?

If not, then I suggest you ask them which card this relates too, via the in app support messaging.

gizz_10

Does anyone know how these changes impacts Samsung Pay+ which is powered by Curve?

Daniel_John_Hurley

I've just upgraded to Curve Metal. I'm going to be paying about 2.5k a month tax bill with it so the cashback on my credit card will cover about 90% of the fee. Cheap for the other benefits.

Wondered if anyone knows how you pick your 6 cashback retailers? Can't find it in the app????

crumpet_man

Daniel_John_Hurley said:

I've just upgraded to Curve Metal. I'm going to be paying about 2.5k a month tax bill with it so the cashback on my credit card will cover about 90% of the fee. Cheap for the other benefits.

Wondered if anyone knows how you pick your 6 cashback retailers? Can't find it in the app????

Select curve cash in the list of cards, settings cog icon, features > curve cash

If you haven't used fronted before then watch out for cash advance fees from your credit card issuer.  Not all credit cards work well with Curve.

jadex

Do I understand the changes correctly?
I have 6 cards added to my Curve app.
They will remove 4 least used cards automatically and I won't be able to have more than 2 cards registered in the app at any time?
So, what about their advertised benefit (when I joined over year ago) of having to carry around just one card instead of big fat wallet?
Merging just 2 cards into 1 saves not much. What's the point?