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  • FIRST POST
    • MSE Megan F
    • By MSE Megan F 22nd Jan 18, 3:41 PM
    • 396Posts
    • 197Thanks
    MSE Megan F
    MSE News: New Curve card claims to be 'the only card you need to carry'
    • #1
    • 22nd Jan 18, 3:41 PM
    MSE News: New Curve card claims to be 'the only card you need to carry' 22nd Jan 18 at 3:41 PM
    A new debit card which lets you connect your existing debit and credit cards to it has now launched - but you need to weigh up the pros and cons before applying...
    Read the full story:
    'New Curve card claims to be 'the only card you need to carry' - but here's what to watch out for'

    Click reply below to discuss. If you haven’t already, join the forum to reply.
    Last edited by MSE Luke; 22-01-2018 at 4:47 PM.
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Page 1
    • Stuart_W
    • By Stuart_W 22nd Jan 18, 7:05 PM
    • 1,430 Posts
    • 690 Thanks
    Stuart_W
    • #2
    • 22nd Jan 18, 7:05 PM
    • #2
    • 22nd Jan 18, 7:05 PM
    Am I being really dim here? What's the business model that makes curve profitable?
    • ic
    • By ic 22nd Jan 18, 7:33 PM
    • 2,655 Posts
    • 1,350 Thanks
    ic
    • #3
    • 22nd Jan 18, 7:33 PM
    • #3
    • 22nd Jan 18, 7:33 PM
    Can't seem to access the article at the moment, however having found Curve I'm not sure what it really is. Looking in the FAQ however I see the following warning, which I presume is what the article title is hinting at:
    In the same way as PayPal or Amazon, 3rd party purchases using Curve are not a direct purchase from the user’s original card, so the purchases are not covered by Section 75 of the Consumer Credit Act.

    However, Curve users are protected by Mastercard chargeback rights, where refunds can be provided if goods are damaged, not as described, or the merchant has ceased trading.
    * my posts are made in good faith and only represent my own opinion, experience or understanding of a situation.
    • surreysaver
    • By surreysaver 22nd Jan 18, 7:42 PM
    • 2,693 Posts
    • 1,538 Thanks
    surreysaver
    • #4
    • 22nd Jan 18, 7:42 PM
    • #4
    • 22nd Jan 18, 7:42 PM
    Would I be able to use a Curve Card to make a 'purchase' using a 0% purchase credit card, then put the money into a savings account?
    I consider myself to be a male feminist. Is that allowed?
    • KTF
    • By KTF 22nd Jan 18, 7:58 PM
    • 4,727 Posts
    • 1,940 Thanks
    KTF
    • #5
    • 22nd Jan 18, 7:58 PM
    • #5
    • 22nd Jan 18, 7:58 PM
    Can't seem to access the article at the moment, however having found Curve I'm not sure what it really is. Looking in the FAQ however I see the following warning, which I presume is what the article title is hinting at:
    Originally posted by ic
    Instead of having a wallet full of cards, you only carry the curve card.

    On the curve app you select what card you want the transaction to be processed by as itís just a wrapper.

    So you could make multiple transactions in a day using the curve card, transaction 1 could be assigned to your bank debit card, transaction 2 to your interest free credit card, transaction 3 to your cash back card and so on.

    Because you are using the curve card to make the transaction, you donít get section 75 as you are not using a credit card for the initial transaction.
    • EssexExile
    • By EssexExile 22nd Jan 18, 8:08 PM
    • 3,716 Posts
    • 2,690 Thanks
    EssexExile
    • #6
    • 22nd Jan 18, 8:08 PM
    • #6
    • 22nd Jan 18, 8:08 PM
    So it saves you having to carry all those heavy cards around with you, the only downside is that you have to sit down for an hour in the evening assigning all the expenditure to the appropriate card. Wow.
    Tall, dark & handsome. Well two out of three ain't bad.
    • gt94sss2
    • By gt94sss2 22nd Jan 18, 8:23 PM
    • 4,248 Posts
    • 2,015 Thanks
    gt94sss2
    • #7
    • 22nd Jan 18, 8:23 PM
    • #7
    • 22nd Jan 18, 8:23 PM
    I have signed up for the card. In many ways, it seems very similar to the old Travelex SuperCard (though not identical), and is for instance a way to charge things to your credit card with merchants who don't accept them.

    Being able to change the selected card after a transaction and not just before actually seems to be a very useful (if niche feature)
    • 18cc
    • By 18cc 22nd Jan 18, 8:38 PM
    • 1,449 Posts
    • 1,065 Thanks
    18cc
    • #8
    • 22nd Jan 18, 8:38 PM
    • #8
    • 22nd Jan 18, 8:38 PM
    one more link in the "god knows who i complain to" when something goes wrong...
    • 18cc
    • By 18cc 22nd Jan 18, 8:40 PM
    • 1,449 Posts
    • 1,065 Thanks
    18cc
    • #9
    • 22nd Jan 18, 8:40 PM
    • #9
    • 22nd Jan 18, 8:40 PM
    pity travelex super card has closed as there would be a market for a card that lets you choose between travelex and curve to save you carrying both around...
    • eDicky
    • By eDicky 22nd Jan 18, 9:05 PM
    • 4,629 Posts
    • 2,784 Thanks
    eDicky
    Who is to say that it's a debit card and should be accepted as such by a merchant? Will a card terminal not recognise it as a credit card or prepaid card?
    • nv200
    • By nv200 22nd Jan 18, 9:20 PM
    • 49 Posts
    • 41 Thanks
    nv200
    Yes you can, I had a card for over a year and this what I do off setting all my spending against my mortgage. Just remember to make the minimum card payment every month.
    Mortgage when started: £127,500
    Current mortgage Jan2016: £127500
    Mortgage free day: Dec 2022
    OverPaid so far; £0
    • ValiantSon
    • By ValiantSon 22nd Jan 18, 9:25 PM
    • 2,526 Posts
    • 2,549 Thanks
    ValiantSon
    Yet another solution to a problem that doesn't really exist!
    • gt94sss2
    • By gt94sss2 22nd Jan 18, 10:17 PM
    • 4,248 Posts
    • 2,015 Thanks
    gt94sss2
    Who is to say that it's a debit card and should be accepted as such by a merchant? Will a card terminal not recognise it as a credit card or prepaid card?
    Originally posted by eDicky
    Its issued as a normal MasterCard debit card (i.e. it also has 'Debit' written on it) - all the linking to other cards would be done by Curve in the background.

    Its not a pre-pay card.
    • eDicky
    • By eDicky 23rd Jan 18, 2:16 AM
    • 4,629 Posts
    • 2,784 Thanks
    eDicky
    Its issued as a normal MasterCard debit card (i.e. it also has 'Debit' written on it) - all the linking to other cards would be done by Curve in the background.

    Its not a pre-pay card.
    Originally posted by gt94sss2
    Thanks, yes, I understand how it works, I even have a Curve card somewhere, used only once so perhaps they won't offer me the new version.

    That is recognised as a credit card, as are most prepaid cards, so I'm mildly curious whether the new one will actually be treated as a 'true' debit card in a terminal that's been set up to reject credit cards. And if so, how the revenue stream will allocate the fees to make it viable for Curve, although that may never be revealed of course.

    I have had debit MasterCards that were not accepted as a debit card when buying a ticket online, for example, and had to be entered as a credit card. So if the new Curve is a true debit card and not just posing as one, sure, it could be useful.
    • Chrysalis
    • By Chrysalis 23rd Jan 18, 2:43 AM
    • 2,298 Posts
    • 1,095 Thanks
    Chrysalis
    Over complicates things, and the loss of S75 is major. No thanks.
    • Gordon the Moron
    • By Gordon the Moron 23rd Jan 18, 6:36 AM
    • 1,453 Posts
    • 739 Thanks
    Gordon the Moron
    The loss of S75 is only major on certain types of purchases, is it major on a trolley full of shopping from a supermarket? You're hardly likely to claim under S75 against Tesco for that, transactions under £100 if you use it for everything are not covered anyway.

    For transactions where you need S75, use your credit card directly.
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
    • Stuart_W
    • By Stuart_W 23rd Jan 18, 11:09 AM
    • 1,430 Posts
    • 690 Thanks
    Stuart_W
    The Curve card is a debit card where you can allocate spending to any credit or debit card, right?


    So where a credit card allows payment by debit card, what is to stop you paying a £200 credit card bill with your curve card, and then retrospectively allocating that £200 spend back to your credit card.


    Do curve have something in place to stop this? I see T&Cs say:



    ATM Withdrawals from credit cards

    You can withdraw up to £200 (or currency equivalent) for free using your credit cards per calendar month after which period there is a 2% charge. This limit does not apply to ATM debit card withdrawals.

    Furthermore any behaviour which Curve deems to be “cash recycling” whereby high volumes of cash are taken out of an ATM using a credit card and then used to repay the credit card in order to gain rewards on the funding card or Curve Rewards is not permitted. Any other equivalent usage which the Curve Compliance Team believes aims to achieve the same outcome, for example via the use of money transfer services, is also not permitted. Such behaviour may result in your Curve account being blockedor cancelled. See Section 6 of Curve Terms and Conditions for further information.


    Will cash recycling always be possible to spot?
    Last edited by Stuart_W; 23-01-2018 at 11:17 AM.
    • WillPS
    • By WillPS 23rd Jan 18, 12:50 PM
    • 329 Posts
    • 162 Thanks
    WillPS
    The Curve card is a debit card where you can allocate spending to any credit or debit card, right?


    So where a credit card allows payment by debit card, what is to stop you paying a £200 credit card bill with your curve card, and then retrospectively allocating that £200 spend back to your credit card.


    Do curve have something in place to stop this? I see T&Cs say:




    Will cash recycling always be possible to spot?
    Originally posted by Stuart_W
    I don't know how they'd spot it. All they'd see is money coming out of your account.

    There's no gain that I can see in doing it either - the most cashback you'll get will be around 1% which will be eaten up instantly by the 2% fee.

    £200 withdrawn at a Tesco cash machine then immediately paid in at the customer service desk will generate £1 of cashback (on an average 0.5% cashback) plus interest every month, though.
    • Gordon the Moron
    • By Gordon the Moron 23rd Jan 18, 1:59 PM
    • 1,453 Posts
    • 739 Thanks
    Gordon the Moron
    I can see a benefit in doing it.

    Get a credit card with a 0% intro offer for spending and balance transfers. The transfer has a 3% fee. Pay your existing credit card off with your "debit" card. Wham your balance transfer is a purchase. Free of charge.

    Alternately you have a credit card bill to pay that accepts debit cards. Pay it off using a cashback credit card and get paid for doing so.

    Another thing that would be possible. Buy premium bonds with your "debit" card as NS&I allow it (or used to) if you don't want them immediately cash out.

    It wouldn't be hard to spot though. Just look for people doing lots of great big transactions.
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
    • SPalin
    • By SPalin 23rd Jan 18, 2:27 PM
    • 171 Posts
    • 43 Thanks
    SPalin
    Thanks, yes, I understand how it works, I even have a Curve card somewhere, used only once so perhaps they won't offer me the new version.

    That is recognised as a credit card, as are most prepaid cards, so I'm mildly curious whether the new one will actually be treated as a 'true' debit card in a terminal that's been set up to reject credit cards. And if so, how the revenue stream will allocate the fees to make it viable for Curve, although that may never be revealed of course.

    I have had debit MasterCards that were not accepted as a debit card when buying a ticket online, for example, and had to be entered as a credit card. So if the new Curve is a true debit card and not just posing as one, sure, it could be useful.
    Originally posted by eDicky
    Debit cards are generally defined by the issuer identification number (first 6 digits). If the retailer doesn't bother to update their website then it's hardly the issuer's fault.
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