Newest Review: ... of 2.9% of the value of the transfer at 0% for a minimum of 6 months - the period changes from letter to letter. My original credit lim... more
Goldfish (Barclaycard) rewards not worth waiting for
Goldfish Credit Card
Member Name: chrisc92
Goldfish Credit Card
Date: 05/07/09, updated on 10/10/12 (616 review reads)
Advantages: A very good customer website
Disadvantages: Credit limits are set to high and the rewards are extremely poor
I originally wrote my review of Goldfish in July 2009 and this is my update.
For several years Goldfish had been my primary credit card replacing one I had with Beneficial Bank only a year or so after I had moved to Plymouth because they offered a better interest rate and offered a rewards programme that vaguely interested me and I have had the odd £10 gift voucher from them over the years for High Street stores and a year or two ago had received several vouchers for tickets at Vue cinemas.
Current Interest Rates are 19.9% (Annual Purchase Rate) and 26.8% (Cash Interest Rate). Comparing these to my original review only the Annual Purchase Rate has increased - by 2%, which bearing in mind the current financial situation of this country surprises me. Additionally for at least a year Goldfish (or Barclaycard as they are now) send me what seems like a monthly letter to tempt me to transfer my balance from other cards for upfront fee of 2.9% of the value of the transfer at 0% for a minimum of 6 months - the period changes from letter to letter.
My original credit limit was set by Goldfish and I have no idea how they came to work mine out at £9,000 particularly as at one point that was almost my full gross salary! I have never changed this and I very rarely use my Goldfish card and in fact August 2012 was the first time in 2 years that it was even taken out of my wallet so that I could keep track of my spend during our holiday to Disney World in Florida.
Barclaycard have for nearly a year tried to persuade me to amend my account to paperless billing - which is unusual seeing I wasn't actually using it! However, after contacting them by phone to check whether the card needed updating to allow use in the United States I went online to check my account and was prevented from accessing it until I had amended my account to paperless. Now I hate it when companies force you to do things like this so a day or two later I logged back in and changed it back, and in fact if they had disabled the option I would probably have closed my account.
On returning home and reviewing my reward points I was shocked to find that Goldfish had increased significantly the number of points needed to claim a reward and in fact the Vue tickets required double the previous number of reward points that I had needed.
I have to admit that the Barclaycard website is quite useful and gives you the ability to check your balance and view recent transactions and the login process is reasonably easy to use. I also find the ability to view statements helpful, but I still prefer (and always will) having a paper version that I can refer back to, especially as online statements are time limited.
Some of the rewards offered by Goldfish (which will be replaced in the next few months as Goldfish is finally fully integrated to Barclaycard) are:
High Street - Argos, Boots, Halfords, M & S, Next, Mothercare and WH Smiths gift vouchers for £10 or £15
Home and Electrical - Currys / PC World, Debenhams, Homebase and John Lewis
Travel and Leisure - Cineworld (2 adult tickets), Barclaycard Travel Insurance, Odeon (2 adult tickets), Vue (2 adult tickets), Showcase (2 adult tickets), HMV and Waterstones. HMV and Waterstones are available in £10 or £15 vouchers
Current redemption is 3,500 for £10 vouchers or adult tickets, 5,250 points for £15 vouchers
In comparison, my original review was 1,750 for a £10 voucher and 1,250 for the tickets!
Well, it was really gutting when I came back from America to find I hadn't even gained enough points for a £10 voucher!
It also enforces my decision to use Tesco's Platinum card as my main credit card and although it has a much lower credit limited does give me much better rates of return in terms of rewards.
If you are looking for a card offering rewards I certainly cannot recommend the Goldfish card (or Barclaycard). There are far better ones on the market including Tesco and Virgin.
Summary: Goldfish is a reward credit card that has rewards that are now out of touch with reality
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