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..............as it scraps five cards - but many are set to lose out
Barclaycard is to transfer 700,000 card customers to a cashback deal paying up to 1 per cent. The company is scrapping five cards. From May, it will give existing customers two cashback cards — an American Express Barclaycard, paying 1 per cent, and a Visa alternative, offering half this. Credit limits and interest rates will remain the same. Barclaycard says the majority of customers will benefit. But many will lose out, including customers who took out a High Five card. This paid 6 per cent cashback for three months on their five most expensive purchases. After this, it pays 2 per cent monthly on the five highest-paying items. Customers previously with Egg earning 1 per cent cashback with Barclaycard could also get less......READ MORE HERE
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