October 2023’s credit card & BNPL news & round-up – Be Clever With Your Cash

October’s bank card & BNPL information

Large Amex payment modifications

In case you have or open sure Amex bank cards, the charges have now gone up. Right here’s what you’ll pay:

Amex Platinum: £650 (was £575)Amex Most well-liked Reward Gold: £195 (was £160) / First yr continues to be freeAmex Nectar: £30 (was £25) / First yr continues to be freeAmex Marriot Bonvoy: £95 (was £75)Amex Harrods: £195 (was £160)Amex Most well-liked Rewards Gold Enterprise: £195 (was £175) / First yr continues to be free

Different playing cards haven’t modified. I’ve written in additional element about what this implies for present card holders right here.

Amex pro-rata refund finish paused

American Specific has temporarly delayed the implementation of the brand new guidelines on payment refunds whenever you cancel half manner by way of a yr. These have been as a result of begin on 2 October, however now received’t start till an as but unannounced date after 29 February 2024.

This implies you may nonetheless cancel your Amex at any level and get a pro-rata refund on the payment. I’ve coated the forthcoming modifications intimately in my Amex payment refund modifications: what’s means for you article

PayPal now works with Curve

For these of you continue to utilizing Curve (I ended some time in the past when the options have been restricted), now you can add PayPal as one in all your fee choices.

At first I assumed this may be a manner so as to add Amex, however it solely works with Mastercard (even Visa playing cards are excluded). You can too connect with any present account which might get across the Visa subject.

It’s additionally unlikely that it’s going to make it easier to get across the “fronting” cost of 1.5% whenever you use Curve’s debit card to make use of an underlying bank card for locations that wouldn’t often settle for a bank card (or have a cost for it).

Probably you need to use it to get across the card limitations on the free Curve – although it could be a faff. You’d need to pay with a distinct card linked to Curve, then earlier than switching a fee to PayPal on Curve you’d want to alter the chosen card throughout the PayPal app. In all probability not price it.

You may additionally be capable to join any enterprise debit and bank cards to your PayPal account (and even join a PayPal Enterprise account) to Curve, which might’t be added direct to the free Curve account.

It’s price noting that you just’ll additionally lose PayPal’s personal Buy Safety. As a substitute you’ll be coated by Curve’s personal Buyer Safety insurance policies. Personally I feel you’d be higher paying direct together with your fee card and gaining access to both Part 75 or Chargeback.

After all this can be a model new function, so it might nicely change – I’ll let you recognize if it does.

Lloyds launch World Elite cashback card

There’s a brand new bank card from Lloyds financial institution that gives as much as 1% cashback and journey options – however you’ll pay for it. The World Elite Mastercard will:

0.5% cashback on purchases as much as a £15,000 annual spend1% cashback on spending above this (resets each 12 months)Precedence Move membership (entry to taking part airport lounges)Airport quick observe (the place it’s provided) so you may skip safety queues

To get this you’ll pay £15 a month, so £180 a yr. I don’t suppose that’s price it. For a begin you may beat these cashback charges with Chase’s debit card and plenty of Amex playing cards.

So that you’re actually simply paying for the airport options. That is far cheaper than shopping for the total Precedence Move direct (at £419 a yr), particularly since an extra Lloyds cardholder will get their very own entry too. So enormous financial savings.

However you’ve received to ask your self if you really want them? Except you might be travelling on a regular basis, you may most likely make do with pay as you go lounge passes, costing between £20 and £40 more often than not. You’ll pay the decrease quantities for those who e-book upfront.

Or you would get the Amex Most well-liked Rewards Gold bank card which provides you 4 Precedence Move visits and is free within the first yr. It’s £195 in yr two.

However for normal travellers it may be price a glance purely to make ready on the airport much less aggravating. I’d nonetheless look elsewhere for the cashback although.

October’s bank card particular presents

Amex Boosts Platinum welcome provide

Regardless of (or extra probably as a result of) of the annual payment enhance to £650, Amex has provided the most important ever welcome deal on the Platinum bank card.

So long as you’ve not had the Gold, Rewards or Platinum card within the final two years you’ll be eligible for the bonus. It’s price 75,000 bonus factors for those who spend (an enormous) £10,000 in six months, which together with the ten,000 factors earned from the spending itself might be price £557 when transformed to Nectar factors through Avios. Think about £80 cashback whenever you apply and it nearly covers the payment.

Then you may make the most of different presents, resembling £300 restaurant credit score and £150 Harvey Nicholls credit score to get a revenue near £450. And also you’ll get free worldwide journey insurance coverage and airport lounge entry on prime.

It’s a limited-time provide, that runs solely till 9 January 2024. Right here’s extra on tips on how to stack every factor of the deal.

Amex Gold bonus additionally elevated

Alternatively you would take a look at the Amex Most well-liked Rewards Gold bank card, which can be briefly boosted. Mixed with cashback this might give you a revenue of as much as £247.

Nonetheless you’ll have to spend £3,000 in three months, and you’ll’t have had any Amex in your title within the final two years. Supply ends 9 January 2024. Extra particulars right here.

Get one of the best of Andy’s cash saving content material each Thursday, straight to your inbox

Get a £17 Quidco bonus (new members solely). Extra particulars

Get one of the best of Andy’s cash saving content material each Thursday, straight to your inbox

+ Get a £17 Quidco bonus (new members solely). Extra particulars

This month’s greatest bank cards

As all the time when speaking about bank cards one of the best bank card for you’ll rely in your credit score report and why you want one. Be sure you learn my guidelines for having and making use of for a bank card.

However assuming you’ve received an awesome credit score report, don’t want one to clear present money owed and can clear the stability fully every month, these are my prime picks:

Andy’s High Three Credit score Playing cards (October 2023)

Amex Platinum for the welcome bonus & journey insurance coverage – till 9 January 2024 (learn extra)Amex Nectar for ongoing 1% cashback in Nectar factors (learn extra)Barclaycard Rewards for 0.25% cashback and fee-free spending abroad for those who don’t need a Chase present account