Curve Card

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  • Biggles
    Biggles Posts: 8,209 Forumite
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    Biggles wrote: »
    The one thing I can't figure is how you know which of your cards the payment will be taken from, eg when you have a better cashback for petrol with one card, or when you're up to your limit with one and want to use a different one.
    I see that bit now (after a bit more reading); if, for example, you're buying petrol and have a high cashback card for that, you need to get your phone out, open the app and move your 'petrol CC' into operation, all before you get to the desk.

    That's fine if there's a data signal. Looks like this may take a little forethought to operate successfully.
  • callum9999
    callum9999 Posts: 4,392 Forumite
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    WorkingTowardsDebtFree wrote: »
    I guess it depends what deal that Curve has setup with each CC operator? Travelex are huge and probably in a better position than a startup to make arrangements. Ultimately though, things will happen one of two ways:

    1) Curve puts a purchase transaction on your other cards, and then pays the merchant. In such cases what happens with charge-backs, refunds, etc? What about S75 protection? In effect they have the contract for supply with the merchant, not you - and so your CC company may be off the hook. This I suppose is similar to how PayPal operate?

    or

    2) Curve act as a pass through like Apple Pay, your payment is made from your originating card to the merchant. In this case though, especially where used for cash back or in ATMs whilst Curve may try to pass it off as a purchase item, I can't see CC companies being too happy? Not quite sure of the implications, but would CC companies have any leeway in how they consider Curve payments? Could some just decide to class all Curve payments as cash advances? If then it's down to individual bank/CC negotiations it could create a bit of a confusing mess for consumers?

    It's 1.

    I'd imagine you'd get Curve to do the Chargeback, not your bank. You get no S75 protection though. Paypal is a perfect analogy.
  • JLED121
    JLED121 Posts: 7 Forumite
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    I've ordered the card for £75 and it says that it will come in March. Honestly it looks ideal - I use my AmEx for everything except where it's not accepted. With this I'll be able to use it everywhere, as it makes AmEx appear at MasterCard. Cash withdrawals without a fee and interest? Yes please!

    Fancy metal card? Yes please

    £60 Tumi card holder thrown in? Yes please

    The way I see it I've only invested £15 into this so as long as I'm able to charge £1k of otherwise Non-AmEx spend to my AmEx I'm winning. As the fee is a one-off you have a long time to do that (and in theory could withdraw £1k of cash although I'm sure the fair use policy will prevent that)

    Admittedly I won't be using it abroad as I already have MasterCard, Visa and AmEx FX-free cards, whereas Curve will charge a 1% load.

    This is possibly the only good news to come out the EU cap on interchange fees, and means that I don't have to worry about that fact that all of my Non-AmEx reward cards are likely going to be decimated
  • Biggles
    Biggles Posts: 8,209 Forumite
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    callum9999 wrote: »
    I'd imagine you'd get Curve to do the Chargeback, not your bank. You get no S75 protection though. Paypal is a perfect analogy.
    From the FAQs:-

    Will Curve give me the same protection as when I pay directly with my credit card?

    Curve offers similar protection to a standard UK high street bank debit card where users will not be liable for unauthorised purchases from the moment they inform us that their card has been stolen (see terms of service for full information).

    Similarly to PayPal or Amazon 3rd party purchases, using Curve is 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.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    Pay £35.

    Withdraw, say, £400 a week in cash from UK ATMs - linked to your BA AMEX. Stick it in your 5% TSB account.

    Wait for the AMEX bill and clear in full.

    AMEX spend exceeds £20k for the year. Triggers some interest earned, 20,000 Avios (cash value c£130) and a 1-4-1 Avios redemption voucher.

    Any reason why this wouldn't work?
  • grumbler
    grumbler Posts: 58,629 Forumite
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    Biggles wrote: »
    From the FAQs:-

    Will Curve give me the same protection as when I pay directly with my credit card?

    Curve offers similar protection to a standard UK high street bank debit card where users will not be liable for unauthorised purchases from the moment they inform us that their card has been stolen (see terms of service for full information).
    Similar? Really?
  • Doctor_Duke
    Doctor_Duke Posts: 303 Forumite
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    If it's too good to be true it probably is ! One to watch I'd say as this challenges all the charges and restrictions with card lenders have in place. Can't believe this will be quite so straight forward but I will be hoping it is.... Have to wait though until it's mainstream.
  • starM
    starM Posts: 1,464 Forumite
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    PeacefulWaters wrote: »
    Pay £35.

    Withdraw, say, £400 a week in cash from UK ATMs - linked to your BA AMEX. Stick it in your 5% TSB account.

    Wait for the AMEX bill and clear in full.

    AMEX spend exceeds £20k for the year. Triggers some interest earned, 20,000 Avios (cash value c£130) and a 1-4-1 Avios redemption voucher.

    Any reason why this wouldn't work?

    Interesting to see what it will show up on Amex statement for ATM withdrawals.
  • starM
    starM Posts: 1,464 Forumite
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    Can I withdraw cash with my American Express via Curve?

    Yes you can, subject to our fair usage policy. You won't pay the standard cash advance fees associated with American Express on domestic withdrawals.
  • mrchagle
    mrchagle Posts: 586 Forumite
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    I tried signing up today and just got...

    "WE'RE SORRY - BUT YOU'RE AHEAD OF THE CURVE
    Thanks so much for signing up to join Curve. This first release of cards is tailored to self-employed folk in the UK and European Economic Area who use iOS, so we’re really sorry that we can’t send you a card right away.

    You'll be the first in line for the next release of Curve cards. We'll keep your details (and won't use them for anything else). We'll email as soon as we can - and your card will be on it's way in a couple of taps"

    Anyone else?
    If I've help in anyway, please remember to thank me :-)
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