EXCLUSIVE: Cornercard scraps plans for a new UK Miles & More credit card
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Back in November 2020, the Miles & More Global Traveller payment cards were closed to new applicants.
In April 2021, existing cardholders had their cards closed too.
This meant that Lufthansa was without a Miles & More credit card partner in the UK, despite offering cards in over 20 other countries – probably the widest network of any airline.
This was a bigger deal than most credit card closures because holding a Miles & More credit card stops your miles from expiring.
For many HfP readers, irrespective of whether they used the card, it was worth paying the £79 annual fee to keep a large pot of miles active.
The other reason it was a big deal was that, because of the odd way the card was structured, it was more like a debit card than a credit card. You could, for example, pay HMRC with it for free. This was a great result for someone like myself with substantial VAT, employers PAYE and self assessment bills to pay.
A replacement card was promised
At the time the card was closed, we were told that a replacement would launch in Summer 2021.
The old card was a joint venture between two companies, Affiniture and Cornercard. The plan was for Cornercard, a Swiss credit card group, to be the sole issuer of the new Lufthansa UK credit card.
Of course, Summer 2021 came and went with no news.
To stop cardholders losing their miles to expiry, Lufthansa continued to add 1 mile per quarter to the balances of all ex-Miles & More cardholders. This meant that the Lufthansa computer believed that you still had a credit card and your miles were not earmarked for expiry.
Cornercard has now confirmed that it has scrapped plans for a new card
Cornercard has been pushed for information on the new project. It has now said that:
“CCUK have recently taken the decision not to pursue this project any further”
The only potential bit of good news was the following statement:
“Miles & More are looking into partnerships with alternative card issuers“
Will your Miles & More miles now start to expire?
It’s not clear.
If you had the old Miles & More credit card and you have some miles in your account which are older than three years, you will see – if you log in to your Miles & More account – that those older miles are showing as expiring on 30th September.
It is possible, if Lufthansa is serious about launching a new card, that it will continue to add 1 mile to your balance every quarter to protect your balance.
This is not contractual, however, and Lufthansa could stop doing this at any time. It would be disappointing if they didn’t give written notice in advance, but it isn’t technically necessary.
All we can hope is that, if Lufthansa is serious about launching a new product, it continues to halt expiry on existing accounts as a goodwill gesture. It would be good if they could let ex-cardholders know what they are planning, even if it isn’t good news.
Want to earn more points from credit cards? – April 2024 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
Barclaycard Avios Mastercard
5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
British Airways American Express Premium Plus
25,000 Avios and the famous annual 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
18,000 bonus points and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
American Express Business Platinum
40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and FREE for a year Read our full review
Capital on Tap Business Rewards Visa
Huge 30,000 points bonus until 12th May 2024 Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.
Barclaycard Select Cashback Business Credit Card
1% cashback uncapped* on all your business spending (T&C apply) Read our full review
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