Santander Edge monthly fee increase

mta999

max spend at 1% will be £1000 to get £10 cashback less £4 fee = £6 ie 0.6% cashback - still better than eg barclays  amex etc

35har1old

WillPS said:

NoviceAngel said:

WillPS said:

…….the Barclaycard Avios card is now a better option while the Nectar payout route exists.

What does that work out as a cashback percentage even if it is in Nectar ?

I’ve still got an old Barclaycard that pays 0.5% cashback fee free and no cap. So that works well as it’s ultra flexible just a low cashback but about the best you can get nowadays 

0.5%. You're better sticking with the Cashback card, unfortunately it has never been made available for new customers.

If you don’t hold s Barclaycard you could apply for the Amazon Barclaycard  currently with £40 Amazon gift followed by 1% at Amazon and 0.5% elsewhere no fee

jbrassy

mta999 said:

max spend at 1% will be £1000 to get £10 cashback less £4 fee = £6 ie 0.6% cashback - still better than eg barclays  amex etc

It depends how much you spend per year. I've worked it out that if you spend more than £11k per year, the Amex platinum cashback (with £25 annual fee) is a better proposition than the revised Santander Edge card. There's no monthly cap on Amex cashback as well.

Also the Lloyds Premier debit card pays 1% cashback (up to max £10 per month), but doesn't charge a fee (if you pay £5k in each month).

RedImp_2

mta999 said:

max spend at 1% will be £1000 to get £10 cashback less £4 fee = £6 ie 0.6% cashback - still better than eg barclays  amex etc

Great if you can manage your spend on this card to only £1000, spend £1500 becomes 0.4% etc

danco

According to Which the change applies to new customers but not (as yet) to current ones.

I reckon that the cashback amounts to more than the 0.25% that most cards seem to have as standard as lon as one spends at least £535 a month (and no more that £1000 for best value).

mta999

A spokesperson told BirminghamLive: "We regularly review our product offering to reflect wider market conditions, and as part of our refresh of our Santander Edge credit card, we will be giving all eligible customers the opportunity to earn up to £120 cashback per year, without having to be an existing Santander current account holder.

"There is no change for existing Santander Edge credit card customers, who will continue to receive 2% cashback on all purchases for the first year and 1% cashback on all purchases after the first year, for a £3 monthly fee."

safe_hands2

I don't trust that they won't increase the fee at a later date though. It's a great credit card in it's current form, but I always thought it wouldn't last.

crumpet_man

No doubt the terms will change for pre July 24 users but Santander will give some notice of this first, as they have with the other Edge product changes and dropping the 123 Lite account.

35har1old

jbrassy said:

mta999 said:

max spend at 1% will be £1000 to get £10 cashback less £4 fee = £6 ie 0.6% cashback - still better than eg barclays  amex etc

It depends how much you spend per year. I've worked it out that if you spend more than £11k per year, the Amex platinum cashback (with £25 annual fee) is a better proposition than the revised Santander Edge card. There's no monthly cap on Amex cashback as well.

Also the Lloyds Premier debit card pays 1% cashback (up to max £10 per month), but doesn't charge a fee (if you pay £5k in each month).

Good to know