Curve Card - Use Amex where MC is accepted [Amex to be withdrawn 31 May 16]
May 24, 2016, 2:25 am
#1
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Curve Card - Use Amex where MC is accepted [Amex to be withdrawn 31 May 16]
I know we have some random postings about the Curve card recently. I've seen a few in the BA forum, but I can't find any dedicated thread to it (and a search of 'curve amex' doesn't reveal a great deal.
For those that don't know, Curve issues you a MasterCard piece of plastic that is linked to your Amex account so that you cause the latter wherever the former is accepted (giving you pretty much complete credit card coverage.) Charges are billed to your Amex as normal transactions would. It also has a very low FX charge, as well as the ability to withdraw (reasonable amounts) of cash from your Amex. Sound great, right?
I believe there have been some significant teething problems though, including declined purchases, duplicate purchases, and problematic support.
This is probably not the ideal place for this thread, but I'm interested in people's recent experiences in using Curve; I'm considering getting one, but I'd like to know whether I'm likely to experience significant frustration!
For those that don't know, Curve issues you a MasterCard piece of plastic that is linked to your Amex account so that you cause the latter wherever the former is accepted (giving you pretty much complete credit card coverage.) Charges are billed to your Amex as normal transactions would. It also has a very low FX charge, as well as the ability to withdraw (reasonable amounts) of cash from your Amex. Sound great, right?
I believe there have been some significant teething problems though, including declined purchases, duplicate purchases, and problematic support.
This is probably not the ideal place for this thread, but I'm interested in people's recent experiences in using Curve; I'm considering getting one, but I'd like to know whether I'm likely to experience significant frustration!
May 24, 2016, 2:47 am
#2
Join Date: May 2016
Location: York, UK
Programs: American Airlines Gold, Hilton Gold, Accor Platinum
Posts: 3
Your timing is unfortunate, I'm afraid.
Within the last 30 minutes I received an email from Curve saying that they are no longer able to support Amex (due to concerns that Amex have had).
This was the main reason I got the card, and until now I have been very happy with it (it saved me far more than the registration fee when I used it to pay for a holiday, for example - the holiday company were charging £70 to pay by Amex, nothing to pay by Mastercard).
Curve will work with Amex until the end of this month, and then it's off. They can't confirm if it will be offered again, either.
Damn shame. But they are offering a full refund to any cardholder that wants it.
Within the last 30 minutes I received an email from Curve saying that they are no longer able to support Amex (due to concerns that Amex have had).
This was the main reason I got the card, and until now I have been very happy with it (it saved me far more than the registration fee when I used it to pay for a holiday, for example - the holiday company were charging £70 to pay by Amex, nothing to pay by Mastercard).
Curve will work with Amex until the end of this month, and then it's off. They can't confirm if it will be offered again, either.
Damn shame. But they are offering a full refund to any cardholder that wants it.
May 24, 2016, 2:54 am
#4
Join Date: May 2016
Location: York, UK
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May 24, 2016, 7:05 am
#8
Join Date: Jul 2011
Location: UK
Programs: BAEC GGL, HHonors Diamond, IHG Uninspired, Marriott Bonvoy Titanium, UK AMEX Plat
Posts: 2,152
They've had some issues, but seem to be getting better. How they handled the Amex double-charge thing 2 weeks ago is a lot better than how they handled the refused online transactions, as an example
My big issue at the moment is with how the (badly) handle pre-authorisations. My advice now (after trying a few things) is give a different card when you checkin at a hotel, then at checkout ask them to charge the curve instead. That seems OK
My big issue at the moment is with how the (badly) handle pre-authorisations. My advice now (after trying a few things) is give a different card when you checkin at a hotel, then at checkout ask them to charge the curve instead. That seems OK
Jun 3, 2016, 2:21 am
#9
Join Date: Oct 2014
Posts: 404
Yep - this would have been extremely useful for my business expenditure as 80-90% of my expenditure can't go through Amex especially a lot of public sector payments. No Curve, no Amex Business for me. The only useful regular spend is google adwords.
Don't know about the business models for credit companies but I would have thought the annual membership fee potential from Amex via Curve would be decent?
Don't know about the business models for credit companies but I would have thought the annual membership fee potential from Amex via Curve would be decent?
Jun 5, 2016, 5:34 am
#10
Join Date: Feb 2001
Location: London
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Yep - this would have been extremely useful for my business expenditure as 80-90% of my expenditure can't go through Amex especially a lot of public sector payments. No Curve, no Amex Business for me. The only useful regular spend is google adwords.
Don't know about the business models for credit companies but I would have thought the annual membership fee potential from Amex via Curve would be decent?
Don't know about the business models for credit companies but I would have thought the annual membership fee potential from Amex via Curve would be decent?
Jun 5, 2016, 8:30 pm
#12
Join Date: Jan 2006
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Posts: 5,706
Jun 12, 2016, 10:16 am
#13
Join Date: Feb 2001
Location: London
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As far as I understand it, Amex charges a ~1% fee for normal interchange which is why merchants dislike them.
By marking the cards "commercial use only" and therefore using the Mastercard commercial interchange rates which are exempt from the current EU capping, the merchant pays like 1.4% (or a fixed fee - unclear which to me) See https://www.visaeurope.com/media/ima...5-73-17806.pdf
Presumably they get 1.4% from the merchant but pass it through to Amex at 1% making themselves a profit. Amex doesn't like since it's likely misclassifying consumer spend as commercial and they're profiting off Amex.
Further, if it grows in popularity, it's a way for merchants to accept Amex but avoid Amex fees at the point of sale potentially (which are interchange fee + so often like 3%)
I'm probably somewhat wrong here but there was some sort of funny business related to the above anyways.
By marking the cards "commercial use only" and therefore using the Mastercard commercial interchange rates which are exempt from the current EU capping, the merchant pays like 1.4% (or a fixed fee - unclear which to me) See https://www.visaeurope.com/media/ima...5-73-17806.pdf
Presumably they get 1.4% from the merchant but pass it through to Amex at 1% making themselves a profit. Amex doesn't like since it's likely misclassifying consumer spend as commercial and they're profiting off Amex.
Further, if it grows in popularity, it's a way for merchants to accept Amex but avoid Amex fees at the point of sale potentially (which are interchange fee + so often like 3%)
I'm probably somewhat wrong here but there was some sort of funny business related to the above anyways.
Last edited by BobbySteel; Jun 12, 2016 at 10:23 am
Jun 12, 2016, 12:50 pm
#14
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This explanation would make some sense. From a logical perspective, I get 1.5% cashback on all my Amex spend (above a threshold). This is way higher than I could get from any Visa or Mastercard. Separately I know that Amex can afford this, because they charge the merchant much more in fees. If the merchant is not paying more, I'm sure Curve isn't paying Amex, so Amex will be receiving less, but still having to pay out the full amount.
Jun 13, 2016, 4:11 pm
#15
Join Date: Jan 2006
Programs: MUCCI
Posts: 5,706
As far as I understand it, Amex charges a ~1% fee for normal interchange which is why merchants dislike them.
By marking the cards "commercial use only" and therefore using the Mastercard commercial interchange rates which are exempt from the current EU capping, the merchant pays like 1.4% (or a fixed fee - unclear which to me) See https://www.visaeurope.com/media/ima...5-73-17806.pdf
Presumably they get 1.4% from the merchant but pass it through to Amex at 1% making themselves a profit. Amex doesn't like since it's likely misclassifying consumer spend as commercial and they're profiting off Amex.
Further, if it grows in popularity, it's a way for merchants to accept Amex but avoid Amex fees at the point of sale potentially (which are interchange fee + so often like 3%)
I'm probably somewhat wrong here but there was some sort of funny business related to the above anyways.
By marking the cards "commercial use only" and therefore using the Mastercard commercial interchange rates which are exempt from the current EU capping, the merchant pays like 1.4% (or a fixed fee - unclear which to me) See https://www.visaeurope.com/media/ima...5-73-17806.pdf
Presumably they get 1.4% from the merchant but pass it through to Amex at 1% making themselves a profit. Amex doesn't like since it's likely misclassifying consumer spend as commercial and they're profiting off Amex.
Further, if it grows in popularity, it's a way for merchants to accept Amex but avoid Amex fees at the point of sale potentially (which are interchange fee + so often like 3%)
I'm probably somewhat wrong here but there was some sort of funny business related to the above anyways.
That is why I queried it.
Amex are not bearing any costs they would not otherwise bear, nor were they receiving any less. (If we assume users would not make highly cost ineffective - i.e. mad - transactions).
Actually, I believe the Curve model is far more built around averaging. They are providing some services on little to no margin, in the hope of other transaction types earning them a bigger income.