Avios to Nectar conversion rate nerfed

vacheron

jay1804 said:

Btw if you set up auto conversion, you can transfer another 25K Avois / 40k Nectar Points before the rate decreases. 

Brilliant tip. Just set auto-conversion up, so hopefully it will transfer another 25,000 on Monday🤞thanks! 

Marchitiello

WillPS said:

Marchitiello said:

WillPS said:

Marchitiello said:

vacheron said:

JPears said:

I've not had any notification of this reduction in "exchange" rate from 16th November.

Either from Avios or Nectar. Poor.

My message notifying me arrived in my inbox on the 3rd of November, the rates change on the 16th. 

I converted 50,000 Avios to 80,000 Nectar last month, and have just done another 50,000 - 80,000 in the last 20 minutes.

Frustratingly, it looks like I will miss out on the 100K Premier/Avios incentive at the last hurdle as they won't give me the Avios Barclaycard. I already have a Platinum Balance Transfer Barclaycard, and when I select "change card" in the app it comes up "no other cards are available"...  so the de-valuing softens the blow... a little! 

Even if the Avios card was available you would only qualify for a much reduced bonus as an existing customer. 

Not true. The 100k is available to existing customers so long as either you haven't held the Avios Plus credit for the last 6 months or you haven't had Avios Rewards enabled for the last 6 months. 

It's really quite generous.

I missed this, thanks, I have already missed on the original offer as I was already a Barclays Premier Customer and  had already two Barclaycard accounts (which I have yet to convert to Avios).

it may be the time to finally let go of my legacy Barclaycard Cashback (black card, ed Amex duo, 0.5% cashback -I believe)

No worries, glad you didn't miss out.

I made exactly the same decision, it was a wrench to give up on it as I probably won't get a straightforward cashback rate as good as that one on a non-Amex product again; but nor will it ever earn me £500+ as this offer will. It also leaves me with no Visa credit, can't decide whether or not that's a problem.

Indeed, similarly I wanted to keep the option of a good cashback card, but in fact I have barely used it in the last 6 years (did some balance transfers for cash flow reasons a couple of times), and even with the recent devaluation of Avios to Nectar conversion, it could be argued that it is a 0.67% potential cashback, albeit for any avid collector, there are ways to get much more value from Avios.

On the VISA CC front,  after converting this, I still have another Barclaycard Visa (Hilton Honours) and also the legacy /never opened to application/ MBNA Horizon (free Forex and 0.25% cashback).

anyway, putting some spend on it after conversion will mean I also get the bonus of 5000 Avios, so 105000 for about £60 in 4 months (or is it £80? The offer does not talk about the £5 back if you also hold Barclays Premier Avios Rewards).

WillPS

Marchitiello said:

WillPS said:

Marchitiello said:

WillPS said:

Marchitiello said:

vacheron said:

JPears said:

I've not had any notification of this reduction in "exchange" rate from 16th November.

Either from Avios or Nectar. Poor.

My message notifying me arrived in my inbox on the 3rd of November, the rates change on the 16th. 

I converted 50,000 Avios to 80,000 Nectar last month, and have just done another 50,000 - 80,000 in the last 20 minutes.

Frustratingly, it looks like I will miss out on the 100K Premier/Avios incentive at the last hurdle as they won't give me the Avios Barclaycard. I already have a Platinum Balance Transfer Barclaycard, and when I select "change card" in the app it comes up "no other cards are available"...  so the de-valuing softens the blow... a little! 

Even if the Avios card was available you would only qualify for a much reduced bonus as an existing customer. 

Not true. The 100k is available to existing customers so long as either you haven't held the Avios Plus credit for the last 6 months or you haven't had Avios Rewards enabled for the last 6 months. 

It's really quite generous.

I missed this, thanks, I have already missed on the original offer as I was already a Barclays Premier Customer and  had already two Barclaycard accounts (which I have yet to convert to Avios).

it may be the time to finally let go of my legacy Barclaycard Cashback (black card, ed Amex duo, 0.5% cashback -I believe)

No worries, glad you didn't miss out.

I made exactly the same decision, it was a wrench to give up on it as I probably won't get a straightforward cashback rate as good as that one on a non-Amex product again; but nor will it ever earn me £500+ as this offer will. It also leaves me with no Visa credit, can't decide whether or not that's a problem.

Indeed, similarly I wanted to keep the option of a good cashback card, but in fact I have barely used it in the last 6 years (did some balance transfers for cash flow reasons a couple of times), and even with the recent devaluation of Avios to Nectar conversion, it could be argued that it is a 0.67% potential cashback, albeit for any avid collector, there are ways to get much more value from Avios.

On the VISA CC front,  after converting this, I still have another Barclaycard Visa (Hilton Honours) and also the legacy /never opened to application/ MBNA Horizon (free Forex and 0.25% cashback).

anyway, putting some spend on it after conversion will mean I also get the bonus of 5000 Avios, so 105000 for about £60 in 4 months (or is it £80? The offer does not talk about the £5 back if you also hold Barclays Premier Avios Rewards).

The problem with that 0.67% effective rate is it relies on BA and/or Nectar, and as this thread demonstrates they can change that conversion rate with very little notice. I fear similarly little notice will be given when one side throws their toys out of the pram completely, and that'll leave me with a pot of almost useless (to me) Avios points. I'll still be converting at 0.67% but it puts me right off sticking with Avios as my main non-Amex credit card for this reason.

This is on top of the normal risk that Barclaycard reduces the earning rate, which they'd have to provide adequate notice for etc.

Both £80 and £60 are somewhat true - you'll be charged 4 x £20 monthly fees. You'll receive 4 x £5 rebates in your Premier account. The net figure for the card fee is £60. You'll also be charged £12 a month for Avios Premier Rewards.

Marchitiello

I already pay the £12 pm on Barclays, and I remember the rebate clearly being advertised when the CC plus was launched but now, when they clearly listed both fees in the offer, there is no mention of the rebate.

I personally do not convert Avios out but use them for flights, all the time. If I do get this 100,000 and with other things coming, I am approaching 1m Avios, and with two companion voucher and an upgrade voucher already in my BAEC account, I can see a first class family holiday coming up 😁