A brilliant card! (Goldfish Credit Card)

Name: aflynn

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Product:	Goldfish Credit Card
Date:	03/04/01 (874 review reads)
Rating:

Advantages: very good loyalty plan

Disadvantages: none!

The Gold Fish credit card is issued by HFC Bank (Household Finance Corporation). It is available in Visa or Mastercard and there are different card designs that you can choose – Twin fish, Two fish facing, Bluey, Fish Bowl, and Scales. It has an attractive APR of 18/9% with a minimum monthly repayment of 3% or £5 whichever is the greater. The APR for cash withdrawals is slightly higher at 20.7% which is still competitive compared to Barclaycard etc. There is a cash-handling fee for every cash withdrawal that you make – this is 1.5% or £2.50 whichever is the greater. Interest is accrued on cash advances from the date you withdraw the cash, unlike purchases, which have a 56-day interest free period. There is a choice of statement dates from 1st to 28th of each month and payment is due 21 days after the statement date.

There is payment protection insurance that can be added to your card and this works out at 74 pence for every £100 of your balance each month. This insurance is provided by Hamilton Insurance and covers card payments in the event of accident, sickness, unemployment or death. The insurance will be paid out if you have been off work for 30 days. The maximum claim period is 12 months.

LOYALTY PLAN

The Goldfish card has a loyalty plan which is run in conjunction with British Gas and the Gold Corporation. Basically every time you use your card you will get one point for every WHOLE pound spent. Please be aware that points are awarded for each transaction in whole pounds. This means that if you have 10 transactions at £9.99 you will only get 90 points not 99. These points will remain on your card for 5 years after that they will be deducted. (Not that mine last that long!!!) Points can be redeemed for the following:

British Gas/Electricity – you can redeem a minimum of 500 points (£5) up to 7500 points (£75) towards your British Gas/Electricity bill for each year. (Each year that you hav
e had your credit card) 1 point = 1 pence

TV Licence – you can redeem a minimum of 500 points (£4) up to 13,000 (£104) the full cost of a colour licence. With the TV licence if you only want to redeem a certain amount of points you must pay the outstanding balance through your card, not elsewhere. 1 point = 0.8 pence

Vouchers – you can get vouchers in exchange for points with ASDA, Boots, Marks & Spencers, Dixons Group, John Lewis, LPG, British Gas Contract (service). All are a minimum of 1000 points (£10) except Asda which is 1500 points (£15) and Marks & Spencer and Dixons are 1250 points this is because the points are worth 0.8 pence instead of 1 penny.

Other offers include Goldfish Card Wine Service which is run by Wines Direct – you can redeem points against cases of wines from a catalogue which is sent with your welcome pack. Point’s value for this is 0.8 pence.

The Goldfish Travel Service, you get between 5% and 17% off selected holidays when purchasing with your card. This costs 500 points to register and each time you use the service. Also Goldfish Travel Insurance - points can be used against the cost of insurance.

AA Cover – you can redeem points against all AA cover options.

Mobile phones – this is run with Singlepoint (4U) points are redeemed against the cost of mobile phone packages.

Redeeming points

This is done by phoning the Goldfish Customer Service line and telling them how many points you wish to redeem against what type. Vouchers are sent by recorded delivery and take about 7-10 days to arrive.

It is important to know that if you are in arrears with your card that you cannot redeem points. If you do not pay the minimum payment on your card for 3 months all points are forfeited.

This is a brilliant credit card and the loyalty plan is very good. There is a promotional rate of 4.9% for balance transfers fixed for 6 m
onths that is very good. The best way to use the card (and all cards!!) is to pay the balance off each month – that way no interest is added. (except on cash withdrawals). There is also a scheme called refer a friend whereby if you refer someone to have a goldfish card you and that person get 500 bonus points added to the card.


www.goldfish.com

Applications - 0800 609 060
Customer Service – 0870 5111 444

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