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

October’s bank card & BNPL information

Large Amex charge modifications

When 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 12 months continues to be freeAmex Nectar: £30 (was £25) / First 12 months 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 12 months continues to be free

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

Amex pro-rata refund finish paused

American Categorical has temporarly delayed the implementation of the brand new guidelines on charge refunds while you cancel half manner by means of a 12 months. These had been resulting from begin on 2 October, however now gained’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 charge. I’ve lined the forthcoming modifications intimately in my Amex charge 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 had been restricted), now you can add PayPal as one in every of your fee choices.

At first I believed this is perhaps a manner so as to add Amex, however it solely works with Mastercard (even Visa playing cards are excluded). It’s also possible to hook up with any present account which might get across the Visa problem.

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

Doubtlessly you need to use it to get across the card limitations on the free Curve – although it might be a faff. You’d should pay with a special card linked to Curve, then earlier than switching a fee to PayPal on Curve you’d want to alter the chosen card inside the PayPal app. In all probability not value it.

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

It’s value noting that you simply’ll additionally lose PayPal’s personal Buy Safety. As an alternative you’ll be lined by Curve’s personal Buyer Safety insurance policies. Personally I believe 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 may properly change – I’ll let you understand 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 Cross membership (entry to taking part airport lounges)Airport quick monitor (the place it’s supplied) so you may skip safety queues

To get this you’ll pay £15 a month, so £180 a 12 months. I don’t suppose that’s value it. For a begin you may beat these cashback charges with Chase’s debit card and quite a lot of Amex playing cards.

So that you’re actually simply paying for the airport options. That is far cheaper than shopping for the complete Precedence Cross direct (at £419 a 12 months), particularly since a further Lloyds cardholder will get their very own entry too. So big financial savings.

However you’ve acquired to ask your self if you actually need them? Except you’re 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 should you e book upfront.

Or you can get the Amex Most well-liked Rewards Gold bank card which provides you 4 Precedence Cross visits and is free within the first 12 months. It’s £195 in 12 months two.

However for normal travellers it is perhaps value a glance purely to make ready on the airport much less anxious. I’d nonetheless look elsewhere for the cashback although.

October’s bank card particular presents

Amex Boosts Platinum welcome supply

Regardless of (or extra probably as a result of) of the annual charge improve to £650, Amex has supplied 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 value 75,000 bonus factors should you spend (an enormous) £10,000 in six months, which together with the ten,000 factors earned from the spending itself might be value £557 when transformed to Nectar factors by way of Avios. Consider £80 cashback while you apply and it virtually covers the charge.

Then you may benefit from 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 high.

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

Amex Gold bonus additionally elevated

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

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

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

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

Get the most effective 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 at all times when speaking about bank cards the most effective 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 acquired an incredible credit score report, don’t want one to clear current money owed and can clear the steadiness fully every month, these are my high 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 should you don’t desire a Chase present account