New Santander 3% cashback card

NoodleDoodleMan

I did the eligibilty check through the Santander website facility and was advised it would be unlikely offered.

A bit bemused - as I have a Santander Edge credit card which we use for everyday purchases monthly and also the legacy Santander Zero credit card with a more than decent credit limit.

So my wife applied - with me as an additional cardholder, to get an immediate yes response. 😊

I'm now contemplating ditching the Zero card as the new Rewards card meets nearly all the same "tick the boxes" for us.

The only doubtful advantage being fee free currency from a fully branded Santander ATM abroad - and as that incurs immediate interest I reckon I can live without such a benefit.

Thing is, if I bin the Zero card I won't be able to apply again. Mini dilemma scenario 😄

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82035470#Comment_82035470

My old folks have a trouble free legacy Select & Zero combo that they use for their now frequent trips and I'm debating if it's worth recommending the change.

The cashback would be replacing the zero ATM access that they rarely use (they now take only roughly £100/€100 in the local currency) and use Google Pay/card for everything.

Do Santander offer credit card product swaps or would it be a new card application?

mta999

I tried to swap santander credit cards recently and they would not - you have to apply for the new card and maybe even close the old one if necessary

NoodleDoodleMan

https://forums.moneysavingexpert.com/discussion/comment/82035697#Comment_82035697

If your folks are Santander customers and take currency from ATMs - their best deal is the Everyday Current Account which I flagged up a few messages previously. The Zero credit card incurs interest immediately - there is a workaround if actioned quickly, however it is a bit of a flaf.

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82035850#Comment_82035850

According to the Santander calculator, their best deal is with their Select in terms of cashback / interest etc and they've not used Zero card in ATMs for a few years.

I'm inclined to leave it as is - the ongoing 0.25% cashback is definately borderline in hassle value.

NoodleDoodleMan

https://forums.moneysavingexpert.com/discussion/comment/82038718#Comment_82038718

I was referring to withdrawing currency using a Santander card abroad - for which cashback doesn't apply.

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82039800#Comment_82039800

I know - their Select debit card covers global Santander ATMs as they've used it in Spain, Portugal and the USA previously. I'm struggling to see where the Everyday debit card would be advantageous?

NoodleDoodleMan

Doesn't the Select account incur a monthly fee and significant monthly payment in ?

For the ordinary punter who wants to avoid any strings attached T's&C's the Everyday Current Account is the best deal for currency withdrawal in the appropriate countries from a local Santander branded ATM.

It has no Direct Debit or minimum monthly pay in requirements.

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82041596#Comment_82041596

Yes but as they use the Select as their main account downgrading to the everyday account would actually lose them money in terms of direct debit cashback and credit interest.

I was mainly evaluating a switch from the Zero credit card to the Rewards credit card but it looks like the benefits after year one are marginal and it will also require a new application.

NoodleDoodleMan

The Zero credit card has no benefits other than fee free transactions for Goods and Services and no FX fee for currency withdrawals at fully branded Santander ATMs in appropriate countries.

The Rewards card is similar, except with an FX withdrawal fee and cashback, although as pointed out, it reverts to 0.25% after the first year.

I'm of a mind to retain the Zero card.

A new application for an existing Santander customer should not take long - took my ladywife a few minutes with near immediate acceptance.

As you say, downgrading from a Select to an Everyday Current account would be pointless - however for the ordinary tourist visiting Spain and The Canaries etc. it is the best choice.

It is also a very good day to day account with debit card on its own merits.