Moving over to old legacy Barclaycard Cashback credit card ??

BigBlueSky

I've been with Barclaycard for years and have their 0.5% cashback on all spend credit card.

About 5 years ago a family member took out a regular Barclaycard and was able to get moved over to this card even though it hadn't been available to new customers for many years.

A friend of mine is looking for a cashback card and I was wondering if anyone knew if Barclaycard would still do something similar ? - Transfer someone over from one of their current products to this legacy card ?

Thanks in advance

Emmia

Barclaycard still do a cashback card, I moved over to it last year from a Barclaycard platinum.

How the current offer compares to a legacy card though... I'd be surprised if someone could switch to a legacy card.

BigBlueSky

Emmia said:

Barclaycard still do a cashback card, I moved over to it last year from a Barclaycard platinum.

How the current offer compares to a legacy card though... I'd be surprised if someone could switch to a legacy card.

Yes, their current one only offers 0.25% cashback.

I know what you mean, but was surprised my family member was able to switch over to it about 5 years ago, even though it was discontinued I believe in 2017.

WillPS

BigBlueSky said:

I've been with Barclaycard for years and have their 0.5% cashback on all spend credit card.

About 5 years ago a family member took out a regular Barclaycard and was able to get moved over to this card even though it hadn't been available to new customers for many years.

A friend of mine is looking for a cashback card and I was wondering if anyone knew if Barclaycard would still do something similar ? - Transfer someone over from one of their current products to this legacy card ?

Thanks in advance

It was never open to new customers, ever.

It was introduced as a product to transfer the customer base they acquired from Egg over to - originally as an Amex/Visa double pack earning 1%/0.5% respectively. It was sometimes possible to get transferred over to it as an existing customer too - I did in 2016/17 by ringing to cancel my Freedom Rewards card.

Shortly after they lost the Amex license and AFAIK it hasn't been possible to transfer to it ever since.

You can see which cards you are eligible to transfer over to in the app. In particular, the 2 options which you should look out for (for rewards) are:
Barclaycard Rewards - 0.25% cashback, 0% FX
Barclaycard Avios - 1 Avios per £, which can be transferred to Nectar points automatically giving an effective reward rate of 0.66% when used at Sainsbury's, Argos or Ebay.

BigBlueSky

Thanks - Yes, I was one of the customers who had the combined Amex/Visa cards.

Unfortunately reward rates have gone down a lot.  It would have been nice for my friend to have been able to get a good cashback card with a flat rate on all spend.  Looks like the Asda one maybe at 1% on Asda spend and 0.3% everywhere else might be the best (as they shop at Asda anyway).  They don't tend to spend at Sainsburys/Argos or ebay.

WillPS

BigBlueSky said:

Thanks - Yes, I was one of the customers who had the combined Amex/Visa cards.

Unfortunately reward rates have gone down a lot.  It would have been nice for my friend to have been able to get a good cashback card with a flat rate on all spend.  Looks like the Asda one maybe at 1% on Asda spend and 0.3% everywhere else might be the best (as they shop at Asda anyway).  They don't tend to spend at Sainsburys/Argos or ebay.

Yes, the interchange fee cap has hurt this market.

The Asda card is a fair choice, although do remember that you can purchase Asda gift cards with a greater than 1% discount (i.e. 4% back at Airtime Rewards) using a rewards credit card.

Bear in mind with the Avios one that they only need to shop there once in a blue moon to get value from it - If they spend £10k a year (anywhere) that'd 'only' yield £66 worth of Nectar, which you might be able to use up with one trip to fill up the car at a Sainsbury's filling station (with a kiosk!).

If you're looking at options beyond Barclaycard - it's also worth checking out the Natwest and/or RBS Reward Credit Card - 1% at 'Supermarkets' (quite a broad definition I've found) and 0.25% elsewhere. Rewards available in cash. £24 annual fee which is waived if you have a matching Reward Current Account, which itself can earn an easy net £2/month.

zagfles

If looking for a new card, cashback is fairly trivial compared to stoozing 0% purchase deals. Can get around 18 months 0% on purchases which would earn around 7% interest on the early purchases, if you pay min payment and invest the difference between full and min payment in a market leading savings account. The benefit would decline with later purchases but even a year into an 18 month 0% deal you'd get over 2% which is still more than typical cashback.

Obviously needs discipline and it's short term, but you'd likely earn close to 10x what you'd earn from a 0.5% cashback card over a year.