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  • FIRST POST
    • MSE Rosie
    • By MSE Rosie 16th Oct 17, 3:24 PM
    • 72Posts
    • 34Thanks
    MSE Rosie
    MSE News: New fee-free overseas credit card to offer 0.5% cashback
    • #1
    • 16th Oct 17, 3:24 PM
    MSE News: New fee-free overseas credit card to offer 0.5% cashback 16th Oct 17 at 3:24 PM
    App-based Tandem Bank is launching a top credit card for use abroad, offering fee-free spending and overseas cash withdrawals PLUS 0.5% cashback on all purchases...
    Read the full story:
    'New fee-free overseas credit card to offer 0.5% cashback'

    Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
    Last edited by MSE Luke; 16-10-2017 at 4:47 PM.
Page 1
    • csgohan4
    • By csgohan4 18th Oct 17, 7:05 AM
    • 4,363 Posts
    • 2,723 Thanks
    csgohan4
    • #2
    • 18th Oct 17, 7:05 AM
    • #2
    • 18th Oct 17, 7:05 AM
    how much can you withdraw overseas cash wise, not clear from the website?
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • MSE Rosie
    • By MSE Rosie 18th Oct 17, 9:34 AM
    • 72 Posts
    • 34 Thanks
    MSE Rosie
    • #3
    • 18th Oct 17, 9:34 AM
    • #3
    • 18th Oct 17, 9:34 AM
    how much can you withdraw overseas cash wise, not clear from the website?
    Originally posted by csgohan4
    Hi, according to the draft T&Cs we've seen, you'll be able to withdraw up to 30% of your credit limit (up to a max of £500/day).

    Thanks, MSE Rosie
    • nomoneytoday
    • By nomoneytoday 18th Oct 17, 1:12 PM
    • 4,745 Posts
    • 2,875 Thanks
    nomoneytoday
    • #4
    • 18th Oct 17, 1:12 PM
    • #4
    • 18th Oct 17, 1:12 PM
    So where are they making their money?


    IMHO, a credit card either makes money from the fx spread, charges, interest or fees.


    If they're offering money back on top of the fx rate, then is it marketing, or will the other costs be higher?
    • stevenhp1987
    • By stevenhp1987 18th Oct 17, 1:25 PM
    • 565 Posts
    • 466 Thanks
    stevenhp1987
    • #5
    • 18th Oct 17, 1:25 PM
    • #5
    • 18th Oct 17, 1:25 PM
    So where are they making their money?


    IMHO, a credit card either makes money from the fx spread, charges, interest or fees.


    If they're offering money back on top of the fx rate, then is it marketing, or will the other costs be higher?
    Originally posted by nomoneytoday
    I imagine they'll do what the others (e.g. Monzo, Revolut) are doing/have done.

    That is run a good promotion with the aim of getting lots of customers while making a loss, then change the fee structure with the hope of making a gain.
    • csgohan4
    • By csgohan4 18th Oct 17, 6:48 PM
    • 4,363 Posts
    • 2,723 Thanks
    csgohan4
    • #6
    • 18th Oct 17, 6:48 PM
    • #6
    • 18th Oct 17, 6:48 PM
    I imagine they'll do what the others (e.g. Monzo, Revolut) are doing/have done.

    That is run a good promotion with the aim of getting lots of customers while making a loss, then change the fee structure with the hope of making a gain.
    Originally posted by stevenhp1987


    Fair game I guess, Just annoying having to apply for something new again and cancel the old one
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • redux
    • By redux 19th Oct 17, 1:40 AM
    • 17,989 Posts
    • 23,592 Thanks
    redux
    • #7
    • 19th Oct 17, 1:40 AM
    • #7
    • 19th Oct 17, 1:40 AM
    Get early access, says one button, and there is a waiting list.

    Does this actually exist yet? Do the so-called founders have accounts? When is it projected to expand to cover those who start waiting now?
    • Nessie23
    • By Nessie23 11th Nov 17, 2:02 PM
    • 229 Posts
    • 124 Thanks
    Nessie23
    • #8
    • 11th Nov 17, 2:02 PM
    • #8
    • 11th Nov 17, 2:02 PM
    Has anyone moved forward within the queue? Is anyone aware of the implementation timeline, thanks?
    • Jolly Gardener
    • By Jolly Gardener 12th Jan 18, 10:59 AM
    • 6 Posts
    • 2 Thanks
    Jolly Gardener
    • #9
    • 12th Jan 18, 10:59 AM
    • #9
    • 12th Jan 18, 10:59 AM
    I received my invitation to apply for the card this morning.
    • gt94sss2
    • By gt94sss2 12th Jan 18, 11:36 AM
    • 4,042 Posts
    • 1,872 Thanks
    gt94sss2
    Do you have any idea what number in the 'waitlist' you were? My position doesn't seem to have moved since I signed up months ago..

    Also, do you use the Tandem app?
    • eDicky
    • By eDicky 12th Jan 18, 3:04 PM
    • 3,320 Posts
    • 1,560 Thanks
    eDicky
    I was not looking at waitlist positron but received invitation to apply last week. After a couple of days of "Oops, something's gone wrong, please try later" I successfully completed it and was immediately offered a £2k limit at 21.9%.

    They gave me thirty days to accept, I probably will if I arrive back in UK by then or soon after. I haven't installed the app so far.

    After the application they seemed to be offering me what looked like a current account, with another 'Get early access' button, but when I pressed it I was taken to a description of the credit card again.
    • Jolly Gardener
    • By Jolly Gardener 12th Jan 18, 3:06 PM
    • 6 Posts
    • 2 Thanks
    Jolly Gardener
    All my email says is,

    "You've told us you're interested in a better financial future with Tandem. Good News: You're at the top of the waitlist so you can now access the Tandem App and apply for a Tandem Cashback Credit Card."

    The email also includes links to the Tandem App, which I don't use and don't intend to use, and to the Tandem website.

    There is no indication of what number I was in the waitlist. However, I understood they would do a soft credit check before inviting you to apply.
    • Jolly Gardener
    • By Jolly Gardener 12th Jan 18, 4:11 PM
    • 6 Posts
    • 2 Thanks
    Jolly Gardener
    I've just applied for the credit card, a very quick and straightforward procedure. First they asked for a mobile number and texted a confirmation code to me. They wanted name, address, monthly income, number of dependents - all the usual stuff. I was offered £3,000 credit limit at 18.9% APR, which I accepted. I then had to set up a PIN number, three security questions from the list they offered and a direct debit if I wanted to. They say the card will be posted out to me in a few days.
    • glider3560
    • By glider3560 12th Jan 18, 6:43 PM
    • 3,535 Posts
    • 2,239 Thanks
    glider3560
    Does this come with proper statements (i.e. paper or PDF that you can download to save), or is it all completely app based?

    • Jolly Gardener
    • By Jolly Gardener 18th Jan 18, 10:38 AM
    • 6 Posts
    • 2 Thanks
    Jolly Gardener
    I've just received my card and activated it today. Paper statements are sent in the post. There is no online account management yet, only the app. The customer services representative said the app is not compulsory, traditional paper statements is the default position.
    • xnoxxnox
    • By xnoxxnox 19th Jan 18, 11:37 PM
    • 68 Posts
    • 13 Thanks
    xnoxxnox
    Balance transfer
    I wonder if anybody is going to try to do a balance transfer to pay-off Tandem card. It is new, and I wonder, if e.g. MBNA would support to transfer the balances from Tandem. Does anybody know if balance transfers work straight away with brand new credit card companies?
    • sprocket1
    • By sprocket1 25th Jan 18, 1:58 PM
    • 5 Posts
    • 3 Thanks
    sprocket1
    Card received
    I can not remember where I was in the queue but I've had my invite, applied and got my card and pin. I had to try a couple of times to get the application to work on the website. Perhaps it was busy. They replied promptly to my query about adding a second cardholder (answer, not at the moment). Very timely as the cashback rate on my NW Select card has just gone down.
    • xnoxxnox
    • By xnoxxnox 16th Feb 18, 3:25 PM
    • 68 Posts
    • 13 Thanks
    xnoxxnox
    Paper statements in the mail it is. The statement is very clear. No PDFs available anywhere I could find. Cashback is applied on the balance, so the bill is simply less to pay off. Tried balance transfer to mbna, did not work.
    • gmc600
    • By gmc600 27th Mar 18, 1:33 PM
    • 1 Posts
    • 0 Thanks
    gmc600
    Do you get a paper statement every month, even when spend is zero? If so quite a lot of unnecessary paper for a credit card I'll only use when on holiday...

    Edit: Found the answer "We’ll send you a statement each month you used your card or have a balance. On it you’ll see a minimum payment and your total balance."
    Last edited by gmc600; 27-03-2018 at 1:43 PM. Reason: Found answer
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