First Direct - changes in T&C from 1st of August

sofa_surfer

1. You 'may' be allowed to pay less than the minimum monthly payment:rolleyes:
2. No interest on the default charges:T
3. Where tax/other duties are imposed, they will be charged to the card account
4. Joining with Verified By Visa scheme :undecided
5. Cash back offer from participating retailers - mentions FD Online Shopping website

msaquib

sofa_surfer wrote: »

1. You 'may' be allowed to pay less than the minimum monthly payment:rolleyes:
2. No interest on the default charges:T
3. Where tax/other duties are imposed, they will be charged to the card account
4. Joining with Verified By Visa scheme :undecided
5. Cash back offer from participating retailers - mentions FD Online Shopping website

Where did you find the new terms and conditions? any link

MS

CopperPlate_2

That's interesting. Any chance you can put some more detail on sofa_surfer? Any ideas as to the types of retailer that would be coming online with them? I have to say the offerings from the credit card are pretty poor at the moment - wine, PC AV protection, and discounted holidays - so something to improve it generally I'd be happy about.

sofa_surfer

Came through post; so far no luck trying to find a link on the web Surely other FD holders were notified as well?
To me it looks like they are heading towards what currently Egg does - strike a cashback deal with limited number of 'participating retailers'. Also, the amounts/rewards will be added directly to the accounts - but each quarter.

brookerbabyisababy

sofa_surfer wrote: »

1. You 'may' be allowed to pay less than the minimum monthly payment:rolleyes:
2. No interest on the default charges:T
3. Where tax/other duties are imposed, they will be charged to the card account
4. Joining with Verified By Visa scheme :undecided
5. Cash back offer from participating retailers - mentions FD Online Shopping website

yeh i read this as well. hopefully they will offer cashback like egg and some higher rates on the savings accounts.

jamalfatty

sofa_surfer wrote: »

2. No interest on the default charges:T

This will be the case with all credit cards from October 1st, they cant charge any interest for first 31 days, and then after that can only charge simple interest and not compound

brookerbabyisababy

this cashback thing sounds exciting.

CopperPlate_2

From memory, fd used to offer a 'reward' type card a few years ago - it gave things like this:

'The first direct credit card reward scheme has included savings on fine wines, quality cuisine and accommodation, home and garden accessories, musical concerts, tickets to UK attractions/days out for the family and luxury breaks.'

From a media release in 2003 from the first direct website.

Not exactly a cashback scheme, and I have to say, the value of it probably wouldn't have been extraordinarily competitive...anyone ever had one of these cards in the past that could shed some light on it?

brookerbabyisababy

there july sale ends tonight. so they might launch it tonight.

CopperPlate_2

Funny, though - I asked fd about 6 months ago whether they would consider launching a cashback/points card and they replied that they felt their card offerings matched the majority of their customers and their needs/expectations. Perhaps they've taken on board all these suggestions...?

Will wait and see what they bring out.

CopperPlate_2

Well nothing on the website today about any new products being launched.