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JaJa credit card unexplained closure of account
in Credit cards
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I can't decide between the Clarity from Halifax or rewards from Barclaycard, both fit the bill for paying for holidays abroad.
Mastercard/Visa charge what is known as 'interchange'. For UK credit cards this is capped at 0.3% (when used within the UK).
They may pay some of this to the issuer by way of commission, but even if they didn't keep any and passed the whole lot on 0.3% is not a plentiful source of revenue.
To put it in to perspective, the cost of getting a physical credit card to the customer is something like £5. Even if the issuer got 100% of that interchange revenue (which they never would, as then Visa/Mastercard would earn zero), it would take £1666.67 worth of spend just to cover that one simple cost.
1 They're upping my credit limit on my ASDA card.
2 I can now use Google Pay.
Looks like Jaja is more just reorganising what products they are putting their resources into as opposed to exiting the UK market.