Curve bringing back Amex


#81

Woooooah! Now I’m a pilot as well! :joy:


(Don't Bullshirt Me, I know what the Fork is going on here!) #82

I think you’re an astronaut actually… It’s changed from a plane to a Star


(Manda) #83

Nice one nick lol


#84

Everyone who applied to be in the beta was supposed to have an email yesterday. That was moved to today. Anyone heard anything at all?


(Dave) #85

Not heard anything here.


(Don't Bullshirt Me, I know what the Fork is going on here!) #86

I’ve not heard anything.

I wonder if it has anything to do with my BIN. (I’m BA amex Premium Plus)


#87

Just got an email to say I’ve been invited to the Curve Amex Beta.

The terms are at this link so we can finally work out what the beta involves. I’m going to have to think hard if the beta is worth it for me

https://www.curve.app/terms-beta


(Don't Bullshirt Me, I know what the Fork is going on here!) #88

I haven’t had an email but I did get an invite on Test Flight.

I’m going to review the terms before I post anything about the beta (just to be on the safe side)


(Jack Bertram) #89

I don’t really understand these beta terms at all. It looks like you have to “preload” - i.e., spend - an amount of money on Curve from your Amex. Then when you use your Amex through Curve, you are spending from the “preloaded” amount. This makes no sense.

I see they mention there might be an “auto top-up” in future but even so I don’t see why this functionality is useful in the slightest.

I like Curve as a way to avoid carrying around multiple different credit cards, but this won’t allow me to avoid carrying my Amex…


#90

I think you understand it quite well.

Purely guess work, but it might be because AmEx wanted to make it clear to their customers that in case of problems they are completely off the hook. Should the merchant not deliver as promised, or another problem occur, after spending through Curve from AmEx, I think noone would even think of contacting AmEx in this case.

Still makes me wonder what people will think about this, though. For me, it doesn’t appear worth the hassle, but maybe others think differently.


#91

This is the nail in the coffin for me.

The whole point of Curve is to make it easy…

This amex integration is complicated, costly, and far more hassle than just carrying your amex!


(Jack Bertram) #92

Hence my lack of understanding! What’s the point?


#93

Well, I’m not everyone, so I can see a few, very limited, use cases: Someone who

  • spends most of their money where AmEx isn’t accepted.
  • travels a lot (AmEx abroad is really expensive).
  • has a “black” curve (thus fee free).

Would be interesting to see if AmEx register this as a cash advance and charges and/or reports this as such to CRAs. As far as I can see that document only outlines Curve’s charges, not Amex’s. (I’d be surprised if they didn’t…)


#94

If they do, then the product is 100% useless. Could somebody who is in the beta ask Curve about this?


#95

Agreed.

I have a feeling I can predict Curve’s response: “Please check your card provider’s terms”. Their customer service is not the best - to put it mildly …


(Dave) #96

I’ve just posted my response over in their forum and copied below.

For me this isn’t going to be cost effective. The combination of a fee and having to pre-load a wallet changes the way Curve works for me. It also means transactions will not appear on my Amex statement as they do with other cards? I would rather carry my Amex card with me.

I fully realise that for some people this way of working and the fees will be acceptable because of the way they use Curve. In my case though, I’m afraid I will not be signing up for this at the moment

I would imagine that if you use Curve more as a budgeting tool, especially as you can mark transactions as “business” or not, then you might find the fees are worth it. However, as a casual user it isn’t for me.


#97

There is an interesting quote in the accompanying blog post:

Spending with your Amex card will work a bit differently than how you currently spend with your Mastercard and Visa cards on Curve. We have implemented a manual top-up model to start with. We plan on offering the same live-load model we have with Mastercard and Visa in the future.

I had noticed this before, that this is really how curve works behind the scenes, that you are essentially spending on a prepaid card. What happens is that your “curve balance” is topped up by the precise amount of every transaction. Then that curve balance is used to pay the merchant. It’s just completely transparent to the customer, and that’s actually quite clever.

This is why Tesco Bank, NatWest etc started charging cash advance fees on curve transactions earlier this year.

So in essence, technically very little changes. But of course practically this is a huge change.

Also this:

As Amex is a credit card, we will not allow cash withdrawals from an ATM or as cashback when the Amex card is selected in the Curve app. This is in line with our Fair Use Policy.


#98

I asked Amex. Their response:

Ideally, pre-loading the amount will be considered as a purchase. But in case Curve submits it to us categorized as advance money, it will be billed to you as cash advance.

Not very helpful…


(Dan Baker) #99

While I agree with all your points. I will use this as I don’t mind that my AMEX statement won’t be accurate. There will be certain times I use my AMEX card specially like using promotions that require spending at certain locations.

But for day-to-day use, I like that I can use my Curve Card for everything and still get the ‘points’ as it’s technically still spending that amount. And I have a Curve Black card, which I got free from a promotion, so I won’t have to pay the fees unless I go over the £1000 top limit a month (which is unclear if it’s a calendar month or every 30 days)


(Dan Baker) #100

I’m on the beta, and topped up £100 on my Platinum Cashback Amex card and it didn’t come through as a cash advance. It’s simply a £100 payment to Curve.

I am on Curve Black, so no fees were charged, so that might affect it?