| Product: |
Goldfish Credit Card |
| Date: |
09/05/01 (5163 review reads) |
| Rating: |
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Advantages: Goldfish points scheme, Excellent customer service
Disadvantages: None
……. not for publication for obvious reasons, but now I’ve got your attention perhaps you would be kind enough to read and rate my opinion on the Goldfish Card.
I have been using the Goldfish mastercard (operated by HFC bank) for nearly four years and am very satisfied both with the ‘product’ itself and the quality of customer service provided.
As with any credit card, interest becomes payable on any outstanding balance shown on your account statement which you do not pay off within the required period. This is 21 days from the statement date, which means the maximum interest free period you can have for an individual purchase is 52 days.
~ IS GOLDFISH FOR YOU? ~
The suitability of a credit card depends to a large extent on what kind of credit card user you are. If you operate your account with an outstanding balance, then the interest rate is of crucial importance, as the higher the interest rate the more you will have to pay. If you pay off your entire balance every month then the interest rate is of no particular significance, but other factors (loyalty schemes etc.) may sway your decision. Personally I fall into the latter category and was originally tempted to take out the Goldfish card because of the points scheme which I will explain in more detail a bit later on.
~ ANNUAL FEE ~
The first advantage with Goldfish is that there is no annual fee. Many credit cards charge a fee of £10 to £15 per annum.
~ INTEREST RATES ~
At the time of writing Goldfish are offering a special introductory rate for new users on *balance transfers* of 4.9% for the first six months. Note – this is only for outstanding balances transferred from another credit card and not for any new purchases.
The general rates are 1.46% (18.9% APR) for retail purchases and 1.46% (20.7% APR) for cash advances. (Interest is charged on cash advances from the date that the cash i
s advanced).
~ THE POINTS SCHEME ~
Goldfish points are awarded at the rate of 1 point for each pound spent using the card. The points can be redeemed towards some household bills or for exchanged for vouchers for a number of high street shops. The equivalent value of your points varies depending on what you exchange them for (for example one point is equivalent to a penny off a British Gas Bill but slightly less than a penny for Marks and Spencer’s vouchers (1250 points can be redeemed for a £10 M&S voucher). At the time of writing the points can be exchanged for:
Shopping
- Boots / Halfords vouchers
- Dixons / Currys / PC World vouchers
- John Lewis /Waitrose
- Marks and Spencers vouchers
Bills
- AA Roadside Assistance
- British Gas
- TV License
~ CUSTOMER SERVICE ~
I have found the customer service at Goldfish to be outstanding. The customer service telephone line is open 24 hours a day, 365 days a year and it is usually easy to get through to an operator without a long delay.
I usually pay off my balance online by direct transfer and on one occasion my bank had not processed the transaction as quickly as they should have done which meant my payment to Goldfish was late, and my account had therefore accrued interest charges. One quick phone call to Goldfish customer charges and the charges were immediately waived.
You can keep track of your Goldfish account, including the number of points you have earned, through monthly statements, by telephoning the customer services line or online at http://www.goldfishcard.com. The online facility needs to be activated once and you receive a secure login and password through the post. This enables you to check your balance, statement and number of points earned or pay off any outstanding balance online at your own convenience. The only function that doesn’t appear to be available online is the ability to act
ually redeem your Goldfish points which currently can only be done by phone or post. The only other criticism I have of the web site is that it uses quite a lot of graphics so could be a bit slow to load for those with slow modem connections.
From time to time Goldfish negotiate offers with partner retailers. These details are included in the monthly statement and are also available online. For example, the current “exclusive offer” includes discounts on a range of wines though the Goldfish wine service.
I would happily recommend the Goldfish card.
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