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Flybe closes its UK Mastercard credit card to new applicants

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Flybe has pulled its credit card from the market for new applicants.

Has the curse of Head for Points struck again?!  At a credit card conference in February I explained why – from the point of view of the issuer – the Hilton Honors Visa card had the worst balance between sign-up bonus and long-term rewards of any card on the market.  Within a week, Hilton had pulled it.

This Tuesday, I gave over a full article to the Flybe credit card and why I didn’t find it very exciting.  You agreed in your comments.  Yesterday Flybe pulled the card from the marketThe marketing page is still on the website but at the bottom it says “We are no longer accepting new applicants.”

I am assuming it was nothing to do with me!  This is actually good news if it means a more rewarding, possibly Avios-driven, Flybe-branded credit card will appear in the future.

Flybe closes its UK credit card

And should we buy the airline?!

Following another dismal trading statement last week, the market capitalisation of Flybe had dropped to just £24m yesterday morning.  There is, of course, a lot of debt in there as well which explains the low figure.

However, £24m is worrying low.  It is a strange state of affairs that, if we had a whip around amongst Head for Points readers, we could buy the airline.  We have enough London-based investment bankers, entrepreneurs and hedgies amongst the readership to get the money together!

I should probably clarify for the purposes of Stock Exchange rules, since I spent 16 years in my previous life putting together deals like this, that I have no intention of doing so 🙂 but it simply goes to show what a parlous state the airline is in.

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Comments (179)

  • Andrew says:

    OT (bits) – two interesting offers on my Amex Plat:
    – 5% back (up to £30) on a qualifying transaction at Sainsbury’s by 29/11; first 45,000 cardholders
    – £5 back on £30 spend via PayPal by 9/12; first 4,500 cardholders.

  • Shoestring says:

    30 days to go. You only have the rest of November to use your IB 90K points or lose them December 1st.

    I need to sort a couple of flights out myself – shame I can’t get my wife to commit to summer hols dates 2019 and 2 of my kids (already pushing 14 & 16) want to dovetail with her flights out to the place in the sun & spend a bit of time in the summer with their mates here in Cornwall, which we’ll allow now they’re old enough to be let loose. So whilst I’ll go out with son #1 for 6 or even 7 weeks continuous, they’ll all 3 be doing something like 2x 2 weeks. If only they could give me the dates.

    If you transferred your IB 90K points to BAEC & have no intention of redeeming them on IB, I suggest you shut down your IB a/c.

    • Margaret says:

      You can’t shut an Iberia account down without asking Iberia to do it (and check the account)

  • Wally1976 says:

    Does anyone else have a nasty feeling that we’re spending time doing the Marriott “29 days” competitions but we’ll never actually see any points??