Holders of Amazon Classic or Platinum Credit Cards only have a few weeks left to use them before the accounts are closed.
New Day Ltd originally told Amazon Classic customers that the cards would run out in January 2023, but the date has been brought forward to October 14, 2022, reports Which?. Platinum users have until November 11, 2022, before they are also scrapped.
Existing cardholders have been written to and given options of what to do next. But what they are offered depends on their credit needs and spending.
The Classic is a credit-builder card, while the Platinum is a reward credit card. The latter allows customers to collect 1.5 Amazon Reward Points (or three if they’re a Prime member) for every £2 spent at Amazon, and 0.5 Amazon Reward Points for every £2 spent elsewhere.
For every 1,000 points earned, a £10 Amazon gift card will be awarded. The representative APR is 21.9% (variable).
The Classic is designed to help build customers build a credit rating and comes with a representative APR of 29.9% (variable). If at least one transaction is made a month, repayments are made on time and customers stay within their credit limit for 12 months, then they will be upgraded to the Platinum.
Some existing customers will be asked if they want to receive a Pulse card. They must contact New Day to confirm this.
Some cardholders will be asked if they want to opt out of receiving a Pulse card. If not, they’ll be sent a Pulse card.
Failure to activate it, though, means existing cards will still continue to work until January 2023, but points won’t be earned beyond 11 November.
The Pulse card pays 0.25% cashback. The maximum cashback customers can earn a year is capped at £150 and there is no annual fee.
New Day have revealed that no changes are expected to peoples’ APR or credit limit and there will be no credit checks when customers transfer over.
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