What should you do with your Curve card now?

Unless you only read Head for Points via email, you presumably saw my extra article yesterday about the decision of American Express to stop working with Curve card.

I won’t go back into how Curve works again, but you can find full details in this article.  Fundamentally, one of its benefits was that you could make credit card purchases using the Curve MasterCard and have them recharged to an American Express.  You can also make limited cash withdrawals and have them recharged to a credit card as a purchase.

With a few hundred comments to the article yesterday, I think the different options open to you have already been beaten to death.

The bottom line is this – no-one should be out of pocket here.  If you cancel, Curve has promised a full refund and you will already have received various benefits to date.  It is important to remember that.

There are two options open to you as a cardholder.  These are:

return the card for a refund of your fee (you might as well wait until after 31st May as Amex functionality continues until then) or

keep it and, as long as you spend £1,000 on the card between 1st June and 31st August, receive a £35 credit in their forthcoming rewards programme which can be used towards any card transaction

My gut feeling in the short term is that – if you can still get £ benefits via ATM and overseas use that would justify the fee irrespective of whether you get the £35 back – there is little to lose by sticking around.

Of course, you also need to consider the track record of the company to date which has been shambolic in many ways.  This includes:

delays in sending out cards

not having the loyalty programme ready to launch on Day 1, despite the premium version of the card being inherently linked to this

failure to predict cash recycling via ATM withdrawals, forcing them to cap those at a level below that required by most people for day to day spend

IT issues (outside their control, admittedly) which led to both transactions being refused and other transactions being double charged

failure to have Amex tied down to a long term agreement to support the card

It was also disappointing to read in the letter yesterday that the card was “saving you money when you travel with zero FX fees“.  This may be semantically true but, as Curve is using a foreign exchange rate which is 1% off the spot rate, you are paying the equivalent of a 1% fee.  There was simply no need for this comment to be made and it has not helped the situation.

Curve prepaid MasterCard

Here are the pros and cons as I see them (based on having the £35 version):

Reasons to return the card:

Card fee refunded now

No need to divert £1,000 from American Express spend in order to trigger the statement credit

No risk if the company closes down

Reasons to keep the card:

£35 fee refunded via a statement credit if you spend £1,000 between June and August – assuming that Curve Rewards is ready to launch by September and the company remains solvent.

If you were referred, you are still due an additional £10 credit when Curve Rewards launches.

You can continue to take out £200 via an ATM each month and have it recharged to a MasterCard or Visa as a purchase.  This is worth a couple of £ per month in benefits. 

You can use it abroad and pay just 1% in fees instead of the 2.99% which is normal on most UK credit and debit cards.  Even if you have a 0% fee card such as Halifax Clarity, it may be worth paying the 1% Curve fee instead if the rewards on your underlying card are worth more than 1%.

You can use it at those merchants who treat it as a debit card without paying the fees associated with using a credit card – but it is still hit and miss as to which those are

You won’t have to pay £35 to rejoin if American Express returns as a partner or some other interesting functionality appears

On the assumption that you wouldn’t have any problems making £1,000 of spending it comes down to whether you believe Curve will be around to credit your £35 of rewards and how much value you put on the FX and ATM benefits.

The company is funded via a high profile mix of private investors and well regarded venture capital funds, but of course start-up projects like this can be volatile.

If I had paid £35 (and I haven’t, because I was on the beta trial) I would stick with it – primarily because I can put my Summer holiday spend onto it for a 1% fee and recharge it to my old BMI MasterCard paying 2.5 Avios per £1.  I can cover £35 of value from that.  Of course, not many people have a Visa or MasterCard which is that generous.

If you have the £75 premium card, it is a different calculation.  Because the statement credit is only £50 but you can receive a £75 refund by returning the card along with the Tumi card wallet, I would take a refund.  You could always reapply for the £35 card later and only be £10 worse off.

Whatever you decide to do, however, remember that you won’t be out of pocket and that, if you’ve been using the card already, you should be ‘up’ overall.  No HFP reader should be losing any money here.

It is also worth remembering that, behind the faceless brand, is a small team of people who have been working hard, apparently close to 24/7 based on the timings of some of the messages I have received, to make this work.  If this experiment fails, they are the ones who really lose something. Welcome to the world of working with start-up companies ….

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)

100 free Heathrow Rewards points (=100 Avios) for downloading their app
Tesco to launch a (pretty terrible) £150 Premium credit card
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  1. Cancelled my card – refunded money back in my credit card account already

  2. Gary Arnold says:

    Got my refund also back to Amex, very sad as I wanted this to work with my Amex card.

  3. Interestingly enough, my original payment card for the Curve one-off fee no longer exists. It was an Amex, so how will a refund work for me?

    • It will credit to your expired Amex
      You’ll get an Amex statement showing the credit and asking what you want them to do

      • Thanks harry. Never been in this situation before so would be good to know. Seems weird for a HfP reader as we are always churning cards.

  4. I am heading to Dubai this week. I have the Halifax Clarity and Lloyds Duo cards along with a curve card. Just wondering if using the curve with Lloyds Amex is the best thing to do in order to pay least amount of fees etc please?

  5. I want to add something to the discussion as I think the “seamless customer service” is not the only reason why Amex pulled out of Curve.

    I made a payment over the phone this morning at a merchant I used Curve with a few weeks ago. When I gave them the card number the lady on the phone said something like “is this an Amex?” and I was like “no, it’s a mastercard” (which is true). The transaction was declined then she tried again and it went through.

    I think the problem is, merchants realised that there was something odd going on. People would pay with mastercards but then get Amex transaction fees. Maybe they started flagging cards, certainly they were upset about it. Or maybe it’s not relevant but I thought I would share with you.

    • They don’t get Amex transaction fees, they get Business MasterCard fees – which are nearly as bad.

      Very soon, shops will legally be allowed to refuse certain sorts of credit cards. I believe that cards will have to marked to show what band of fees they charge. Some stores will start to say ‘personal MasterCard or Visa only’ and not take corporate cards or even premium cards like World Elite MasterCards which have higher fees.

      A reader told me last week that his business has already been approached by MasterCard to identify what sort of cards it will be willing to accept. All others will be blocked.

      • I think this will result in a lot of lost business; from me at least. I am not going to sit and argue with a shop owner/assistant as to what type my card is. If I am asked, I will simply cancel the transaction and walk out. I hope many others will do the same. This could easily result in profiling customers in the long-term, based on their type of cards. Not sure I am OK with certain data of mine being used in this way.

        • It will and it won’t is the likely answer !

          My core businesses take Amex, in fact we take anything but our average transaction value is around £25, so the difference between 1% and 3% is a massive 50p ! We are also a high gross profit industry which means that such costs are not crippling.

          However, if I was retailing big ticket items costing say £5000, then that extra 2% is £100, which is or could be significant if the mark up is low, as it is say on consumer electrical goods.

          I won’t worry about it but some might. I am more than a little narked though on losing the ability to use Amex where Amex was not accepted.

  6. BigDave says:

    They must be getting desparate, literally a day after giving me the chance to cancel my order (I was still pondering whether to or not) they say theyve taken payment and will be shipping out

  7. I’ve made a petition for amex to accept curve again, I Spoke to their CEO, who said this could potentially help the case, if we all get behind this, it might show AMEX what a mistake their making..
    Sign and share the petition guys;

    • Or push Amex over the edge and decide for them that Curve is more hassle than it’s worth.

      We should probably let the dust settle in June and see how Curve try to get them back on board. Maybe Curve themselves don’t want to do it since its costing them money and any petition will be in vain.

    • I won’t be signing, make up your own mind.

      Amex dumped Curve for good reasons.

  8. Is there an end-date to the cancellation offer?

  9. Federico says:

    You don’t need to return the card. I have cancelled mine and they wanted me to cut it, I have also received the refund today of £35.
    ‘Curve account cancellation confirmation
    We can confirm your Curve account has been cancelled. We will refund your original payment card – please wait 7-10 working days for the money to be credited to your account. Please cut up your Curve card and dispose of it safely – it will no longer work.

    Thanks for being part of the Curve Beta – we’re sorry to see you go.

    Team Curve’

    • So you haven’t received any refund, just an email from Curve promising one in 7-10 days! GIven the company’s track record to date I wouldn’t count your chickens until that money is showing back on your card account!

      • Paul, please read thread, refunds are being processed in 48 hrs

        No need to kick them with untruths

      • Federico says:

        I did cancelled my card on Tuesday and received the money back into my card yesterday (thursday)

        • Sussex Bantam says:

          Cancelled my card Wednesday – refund arrived today. That, at least, seems to be working correctly…

  10. Is there a review of revolut card on headforpoints ?

  11. Brian Peers says:

    One thought – why didn’t curve just setup up a credit card outside the EU in any currency with 0% FX fees and then allow consumers to settle their account in sterling. No EU rules or caps to abide by. Surely the answer!

    • Not a very safe thing to do given potential market volatility. No bank or sensible investor is going to take up such a risk!

  12. I was less than impressed with all the delays originally, but thought, okay, lets wait, this is worth it, but then this blow? sorry, lost all sympathy towards them, being able to use amex everywhere was the key reason I signed up for this, and I was just about okay putting up with delays, an app that is flaky and full of bugs, etc
    anyway, good idea, but just hasn’t worked

  13. Well fair play to them – already had my money credited back to me. It was the easiest product cancellation I’ve ever experienced.

  14. Mikeact says:

    Perhaps I was lucky,but my Curve has been absolutely fine.Just back from another trip, all purchases shown as Amex transactions 100%.
    Now I am thinking about forthcoming trips for Avios.
    As Supercard will be ‘on hold’ ,I will continue with Curve but probably recharge to Tesco CC.

    However, should Curve/Amex kiss and make up, I was thinking about applying for the regular Avios/TSB/Amex pack as overseas spend is doubled ,ie 2 Avios per £ Amex. This seems to me better sense than my LloydsAmex @ 1.25 per pound. Thoughts?

    • But you will ended up paying 2.95% on FX fee instead Llodys one is 0%. The math here is really 2.95% cost with 2 avios per £ earning versus 0% cost with 1.25 avios per £ earning. I will definitely go for the Llodys one!

  15. Mine arrived far too late, so it was useless. They refunded my 35 Quid quickly. Will they pay all of my foreign exchange costs for my recent trip to Singapore /Australia because I was replying on using their card but they took too long to send it out?

  16. Well, today’s the cut off day.

    I’ve had a ball with my card.

    No duplicate transactions and the card was here in good time. I have kept track of all my Curve transactions and I have calculated that I have earned more than 1k Avios than I would have done without it – silly little things really, just paying utility related bills, and other everydays. £35 well spent.

    But as with all good things….

    (And, no, I don’t work for them. Just plain old good feedback)

    • 1k avios? or £1k worth of avios? I hope it’s the latter, for the £35 :)

      • No, I wish it was 1K worth of Avios :-)

        I spent £948, so that’s £948 x 1.5=
        1422 Avios I would not have earned using my regular credit card where Amex not accepted.

        I’m happy. I think we should run a “who got the most value?” comp!

        I’m sure there are some people here that got some real value!!

      • Brian W says:

        £3980 spent over two Curve cards (Mine and OH) including cash withdrawals (adhering to the FUP!) before the Amex cut off, all of which was at non-Amex accepting merchants as I didn’t see the point in using Curve instead of BAPP if Amex was accepted.

        If Amex doesn’t return prior to the 23rd June refund deadline I’ll send one back to save £35 and hold onto the other in the hope it returns in the future.

        £3980 x 1.5 = 5970 Avios
        Minus the 995 Avios we would have got using Avios Prem Due MC’s @ 0.25 per £1 = 4975 Avios up for an outlay of £35 – assuming I do indeed return one of the cards.

        0.7p per Avios by my maths, which was never great, so I’m happy with that, especially as the Amex link may possibly return in the future.

        Was always a risk and I thought it would last longer than it did. Shame as it will gather dust in the cupboard if Amex doesn’t return.

  17. Curve putting Marriott Mastercard transactions through as cash transactions – beware !!!

    I only found out as my attempted transaction was too high for the cash transaction limit and was declined, prompting my investigation.

    Presumably had it been under £500 they would have processed it as a cash advance, thus damaging my credit profile and requiring endless hours of emails and conversations to reverse it all out.

  18. I spent the 5k on my card this month linked to Gold and managed £1600 via atm transactions.

  19. Still not received mine after ordering in March and being charged the card fee on the 13th of May – the excuse is they have run short of Tumi wallets.

  20. BigDave says:

    My curve card finally arrived, I thought I’d give it a chance I do spend in mainland europe a bit,
    but I would have put so much through it if it had amex hookup… very easy to set up and the app is quite good having been updated recently. Wish they would have an android version soon as this will help their cause.


  1. john lewis sofa sales

    Amex breaks off relationship with Curve Card