Morgan Stanley Cashback - EDIT not uncapped as I thought

Tim_L

Just received a flyer with my Morgan Stanley card statement, offering what looks like a new cashback deal. This is considerably better than previous deals of the same type from Morgan Stanley, because it is uncapped. I think this makes it the market leader.

The deal is 2% cashback until 1st Oct, then 1%. Payment is by cheque.

This is not a 0% card.

There's no obvious promotional code on my form, which is a 'refer a friend' form (£15 for referrer and applicant). If anyone wants mine (this does require your address) then PM me. This referral money is added to the cashback, so you don't get it immediately.

Tim_L

OK, just been examining the t&c more closely on this, and in fact it is capped, or at least I think it is. It is a very very misleading flyer, since it explains you get up to 2% cashback with no limit on spending, then there is a note which you have to dig around to find saying this is on the first £2000 of purchases with 0.5% thereafter.

So it's not all that wonderful an offer, in fact. Spending £2000 before October would yield £40 plus £15 referral, but at the expense of a credit search and require a wait presumably of a year for the cheque.

jimclark1967

I have the Morgan Stanley Card and It's true the 1% is only on the first £2000. Better in the long run to go for a card with 1% on all spending.

BUT:

I don't expect to spend over £2000 this year and like the St. Andrews cross card design so the card works for me

JC

eagle

I agree - it's probably more trouble than it's worth.
Unfortunately with my card, I took it out in mid May and they gave me the double rate until 1st August! Given that it is almost July I am thinking of cancelling it. I will barely make any purchases on it over the year. When my Nationwide eventually comes through, I will probably use that as my backup to Amex and my 'international use' card.

Searcher2

Warning on Morgan Stanley Customer Service!!! I took out a Platinum Morgan Stanley card about 2 months ago with the promise of 2% on purchases until August. I merrily start spending on it only to discover that when I got my first bill I was only being given 1% cashback. To cut a long story short, after 3 phone calls and an email I am still waiting for them to tell me why. I asked to speak to someone who could tell me but they refused. I emailed to tell them to close my card as the customer service was terrible and they wrote back saying my complaint was being dealt with and I would hear something in 10 days. Today I received another letter saying they were still dealing with my complaint and I would hear in 10 days! I wouldn't even go near them with a bargepole now. How long would it take to sort a real problem out based on this experience????

eagle

Searcher2 wrote:

Warning on Morgan Stanley Customer Service!!! I took out a Platinum Morgan Stanley card about 2 months ago with the promise of 2% on purchases until August. I merrily start spending on it only to discover that when I got my first bill I was only being given 1% cashback. To cut a long story short, after 3 phone calls and an email I am still waiting for them to tell me why. I asked to speak to someone who could tell me but they refused. I emailed to tell them to close my card as the customer service was terrible and they wrote back saying my complaint was being dealt with and I would hear something in 10 days. Today I received another letter saying they were still dealing with my complaint and I would hear in 10 days! I wouldn't even go near them with a bargepole now. How long would it take to sort a real problem out based on this experience????

Your post is rather scary, Searcher2. I too took out the card a couple of months ago and was told 2% cashback until 01/08/05. I made one purchase on the card only (last week). It appeared on my online statement which I've just checked. It's showing as a 1% cashback only! How on earth this works out I have no idea, but I smell a rat. I won't even bother complaining if there's any doubt as to what my cashback will be. I will just simply cancel the card account and sent it back to them in a thousand pieces.