Another Avios Offer … "Cash Passport"
Jul 12, 2012, 8:50 am
#1
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Another Avios Offer … "Cash Passport"
Latest email from Avios, which I suspect many of you have also received.
The Offer is here … a MasterCard preloaded card whereby, if you buy £250 or over by 28 Aug, you get double avios.
I haven't explored any further, since the Channel Islands are excluded. I would also note that the OH heard something on BBC "Money Box" which suggested that any residual cash on the card after a certain date can 'time out'. Whether this applies in this case is open to exploration.
Entirely at your own risk … just mentioning it for general information.
The Offer is here … a MasterCard preloaded card whereby, if you buy £250 or over by 28 Aug, you get double avios.
• Get up to 2 Avios for every £1 you load
• Makes paying abroad safe and easy
• Available in US Dollars, Euros or Pounds Sterling
• Makes paying abroad safe and easy
• Available in US Dollars, Euros or Pounds Sterling
Entirely at your own risk … just mentioning it for general information.
Jul 12, 2012, 9:00 am
#2
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Also these cash cards aren't covered under the FSCS.
I had a look - might be worth it if you're after a chunk of miles for just over 1p each.
My understanding:
To load in GBP you pay 2%. You can use that for free as you would a Mastercard (but no loyalty points). However you could then just close the account and pay £6 to take the money back out.
So if you've £5k to spare, you pay £100 to load and get 10,000 Avios in return. You then cash out for £6 = 1.06p per mile.
£5k is the maximum balance you can have on the card, also capped at £18k p.a.
I had a look - might be worth it if you're after a chunk of miles for just over 1p each.
My understanding:
To load in GBP you pay 2%. You can use that for free as you would a Mastercard (but no loyalty points). However you could then just close the account and pay £6 to take the money back out.
So if you've £5k to spare, you pay £100 to load and get 10,000 Avios in return. You then cash out for £6 = 1.06p per mile.
£5k is the maximum balance you can have on the card, also capped at £18k p.a.
Jul 12, 2012, 9:09 am
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EDIT: found some answers:
Is this classed as a Mastercard debit or credit card? [Still unsure]
Can you just withdraw from a cash machine? [Yes] How is that charged? [£1.50 per withdrawl]
Also seems to be £2500 maximum when signing up.
I don't see this being a particularly good deal for anyone unless they desperately need the miles.
Also note this is avios.com not BA avios, so if you don't have an avios.com account you'd need one first.
Is this classed as a Mastercard debit or credit card? [Still unsure]
Can you just withdraw from a cash machine? [Yes] How is that charged? [£1.50 per withdrawl]
Also seems to be £2500 maximum when signing up.
I don't see this being a particularly good deal for anyone unless they desperately need the miles.
Also note this is avios.com not BA avios, so if you don't have an avios.com account you'd need one first.
Last edited by layz; Jul 12, 2012 at 9:17 am
Jul 12, 2012, 9:23 am
#4
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I already mentioned this offer in http://www.flyertalk.com/forum/briti...motions-2.html - see posts 21 and 22 including my disclaimer/caveat.
It's better than that. 
As I mentioned in the other thread, loading/reloading using your own bank's online system can mean 0% surcharge. That's certainly the case with Nationwide and me. I've done it twice this week. 0% to reload is a no-brainer.
With the current offer of 2 Avios per £, this beats other current cards, so it's better than the BA AmEx and LTSB cards, unless they have another promotion. Downside is there's no Section 75 protection, but that's probably irrelevant at Tesco and Waitrose.Technically, it's neither. Tesco and some others treat it as a debit card. HMRC and my local council treat it wrongly as a credit card - their software hasn't been upgraded.
Yes. See http://www.cashpassport.com/1/Global...d%20Limits.pdf
My understanding:
To load in GBP you pay 2%. You can use that for free as you would a Mastercard (but no loyalty points). However you could then just close the account and pay £6 to take the money back out.
So if you've £5k to spare, you pay £100 to load and get 10,000 Avios in return. You then cash out for £6 = 1.06p per mile.
£5k is the maximum balance you can have on the card, also capped at £18k p.a.
To load in GBP you pay 2%. You can use that for free as you would a Mastercard (but no loyalty points). However you could then just close the account and pay £6 to take the money back out.
So if you've £5k to spare, you pay £100 to load and get 10,000 Avios in return. You then cash out for £6 = 1.06p per mile.
£5k is the maximum balance you can have on the card, also capped at £18k p.a.
As I mentioned in the other thread, loading/reloading using your own bank's online system can mean 0% surcharge. That's certainly the case with Nationwide and me. I've done it twice this week. 0% to reload is a no-brainer.
With the current offer of 2 Avios per £, this beats other current cards, so it's better than the BA AmEx and LTSB cards, unless they have another promotion. Downside is there's no Section 75 protection, but that's probably irrelevant at Tesco and Waitrose.Technically, it's neither. Tesco and some others treat it as a debit card. HMRC and my local council treat it wrongly as a credit card - their software hasn't been upgraded.
Can you just withdraw from a cash machine? How is that charged?
Jul 12, 2012, 9:33 am
#6
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The card is especially useful for spending at merchants who surcharge for credit cards - I used mine to pay for our new door and windows - and those who don't take credit cards - cue Aldi and Lidl.
In such cases, I could have used my Nationwide debit card, but I wouldn't have earned thousands of Avios.
In such cases, I could have used my Nationwide debit card, but I wouldn't have earned thousands of Avios.
Jul 12, 2012, 9:41 am
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Presumably you can't avoid the 2% surcharge on your first card loading as you need to apply for the card first. Or can you actually specify £0 and then top up when the card arrives?
Technically, it's neither. Tesco and some others treat it as a debit card. HMRC and my local council treat it wrongly as a credit card - their software hasn't been upgraded
If you pay the £6 to withdraw funds how are they sent to you? Regular bank transfer, faster payment, cheque...?
Jul 12, 2012, 9:43 am
#8
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Money saving expert gives the idea a lukewarm thumbs up.
There's lots more http://www.moneysavingexpert.com/tra...p-travel-money
There's lots more http://www.moneysavingexpert.com/tra...p-travel-money
Jul 12, 2012, 9:50 am
#9
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https://www.avios.com/collect/lloyds...pthLandingPage
GD
Jul 12, 2012, 9:50 am
#10
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I thought the 2% was Raphael's cut, not a cash advance fee levied by your bank (hence the reason it doesn't apply to EUR or USD cards). 0% would indeed change this significantly (and presumably see the loophole closed by the end of the month as people rip the backside out of it...)
Jul 12, 2012, 9:51 am
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Presumably you can't avoid the 2% surcharge on your first card loading as you need to apply for the card first. Or can you actually specify £0 and then top up when the card arrives?
I don't know the answers to your other questions.
Jul 12, 2012, 9:54 am
#12
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I already mentioned this offer in http://www.flyertalk.com/forum/briti...motions-2.html - see posts 21 and 22 including my disclaimer/caveat.It's better than that.
Jul 12, 2012, 9:58 am
#13
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None needed. You have brought about an interesting discussion.
[Just to be clear, 'It's better than that' refers to Swiss Tony's post.]
[Just to be clear, 'It's better than that' refers to Swiss Tony's post.
]
Jul 12, 2012, 10:25 am
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I have done some sums on this and it will be on the blog tomorrow, looking at the exchange rates they use for loading. Fundamentally, it is no worse than using a credit card - they load their exchange by 2.9% when you load, which is the same as Amex charging you a 2.99% load per transaction.
If you are going somewhere where Amex cards are unknown (a Euro country) it may make sense. Otherwise, I would stick to paying with an Amex as your earning rate is close to the 2 Avios per £1 they give with far, far less hassle.
And the £ card is a disaster, so avoid that.
If you are going somewhere where Amex cards are unknown (a Euro country) it may make sense. Otherwise, I would stick to paying with an Amex as your earning rate is close to the 2 Avios per £1 they give with far, far less hassle.
And the £ card is a disaster, so avoid that.
Jul 12, 2012, 10:50 am
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