# Ulsterbank Yourpoints is ending



## Ceist Beag (27 May 2015)

Just got a letter in the post today saying it was ending. Shame as it was a nice little bonus every once in a while. Details now available on their [broken link removed] (although their YourPoints site appears to be down at the minute).


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## killarneyguy (27 May 2015)

Ah what a shame..Used to build it up over the year and get vouchers then for Xmas..Any other cards out there that offer rewards/cashback for purchases?


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## Eithneangela (27 May 2015)

killarneyguy said:


> Ah what a shame..Used to build it up over the year and get vouchers then for Xmas..Any other cards out there that offer rewards/cashback for purchases?


Ditto. Happily paid for most purchases with UB Visa and gave hubby the vouchers!


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## Lightning (27 May 2015)

Hopefully, most Ulster Bank Your Points customers spend their points quickly. 



killarneyguy said:


> Ah what a shame..Used to build it up over the year and get vouchers then for Xmas..Any other cards out there that offer rewards/cashback for purchases?



3 reward cards.

Tesco Bank Credit Card with 0.5% - 1.0% back via Tesco vouchers. No maximum reward.
AIB Platinum Visa with 0.5% cash back on spends over 5,000 EUR and below 50,000 EUR. Maximum reward is 225 EUR cash per year.
KBC Credit Card with 1% cash back on grocery shopping up to a maximum reward of 10 EUR per month.

The Tesco Bank card is the best option for many.


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## thedaddyman (28 May 2015)

The letter I got said they were ceasing the scheme due to new European regulations. Does anyone know what this is referring to?


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## tallpaul (28 May 2015)

thedaddyman said:


> The letter I got said they were ceasing the scheme due to new European regulations. Does anyone know what this is referring to?



No it didn't. From the website: 

Changes being applied across the European cards industry mean that funding for YourPoints has been significantly reduced. As such, it is no longer possible for us to offer the scheme.

I have a suspicion that the credit card companies have pulled the plug on this.


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## thedaddyman (28 May 2015)

tallpaul said:


> No it didn't. From the website:
> 
> Changes being applied across the European cards industry mean that funding for YourPoints has been significantly reduced. As such, it is no longer possible for us to offer the scheme.
> 
> I have a suspicion that the credit card companies have pulled the plug on this.



Yes it did.       The letter states

_We're making some changes to your Ulster Bank Credit card as a result of recent changes to EU legislation_


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## Lightning (28 May 2015)

thedaddyman said:


> The letter I got said they were ceasing the scheme due to new European regulations. Does anyone know what this is referring to?



New EU legislation that reduces the fees that credit card companies can charge retailers.


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## thedaddyman (29 May 2015)

CiaranT said:


> New EU legislation that reduces the fees that credit card companies can charge retailers.



So because their margin is being reduced, they are cutting the benefits to card holders. I don't have an issue with that, that's business after all, but I think it's pushing it for them to imply that EU rules say they can't do this anymore. They can, they've just chosen not to


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## tallpaul (29 May 2015)

And hence why I suggested that it was the credit card companies that were responsible for ending the scheme rather than some EU Regulation. It is unlikely in the extreme that an EU Regulation would be drafted to prohibit such activity!


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## Lightning (29 May 2015)

There are a number of things at play here.

1. Ulster Bank were already winding down the points scheme. Points have been gone for new customers for some time. Keeping points for existing customers only was never a long term prospect.
2. Ulster Bank are under pressure to both cut SVR mortgage rates and raise margins. Ulster Bank have cut deposit rates to the bone. They are clearly trying to find other ways to increase margins.
3. Ulster Bank credit card margins will be squeezed by the new credit card legislation.

Whilst, the EU regulations are not a direct cause, they are one of many indirect causes and a easy thing to blame.


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## Conshine (5 Jun 2015)

Will the benefits of the tesco credit card be changed because of this EU rule?
I have an UB card now and am disappointed that the points are stopping, so am considering tesco, as I will be able to get something back in the clubcard points.


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## Lightning (5 Jun 2015)

Conshine said:


> Will the benefits of the tesco credit card be changed because of this EU rule?



The new EU rules do not prevent reward cards. The rules just reduce credit card margins which means reward cards might be less prevalent. 

There is no direct effect on the Tesco Credit Card reward offering.


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## killarneyguy (8 Jun 2015)

CiaranT said:


> The new EU rules do not prevent reward cards. The rules just reduce credit card margins which means reward cards might be less prevalent.
> 
> There is no direct effect on the Tesco Credit Card reward offering.



Anyone know if you can check your tesco redit card balance online or is it just monthly statement?


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## shweeney (8 Jun 2015)

killarneyguy said:


> Anyone know if you can check your tesco redit card balance online or is it just monthly statement?



They had no online facility when I had one, it was one of the reasons I switched to another card.  You could phone up for the balance, but even that only worked when their customer service line was open (despite it be being an automated service, they must've turned the computer off when they closed the office).


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## Jiblet-run (9 Jun 2015)

No Tesco doesn't have an online facility to view your balance - annoying yes but you can "kinda" get a round that by using your clubcard login website - 
https://secure.tesco.ie/register/?from=https://secure.tesco.ie/clubcard/myaccount/home.aspx

At the very least you can view your purchases within a few days and track your spending a bit better.

I use the website regularly and call up once or twice a month to confirm that my balance is what I expect it to be. (And yes it's not a 24hr service)
Some people may see that as hassle but I use my tesco credit card for all my purchases and actually don't shop in tesco much (too expensive).
As a result I earn roughly 40 euro worth of points every quarter - which is doubled to 80 euro off my gas bill with Bord Gais Energy.
So up 320 euro off my gas bill a year is worth it in my opinion.

Tesco are slow opening your application and your balance starts off low - mine was initially 1000 euros - but after 18 months I've gotten it up to 3500 euros.
I still keep my AIB credit card - initially because of the low balance - now more for the fact that if Tesco were to pull it's credit card operations from Ireland - I'd still have a backup card with a good balance.
Yes it's costing me an additional 30 euro a year in stamp duty but not fully convinced in giving it up just yet.

Also their posted monthly statement arrives usually late - however this doesn't bother me as I have a direct debit set up and will also use MyBills.ie to clear my account from time to time.


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## Conshine (9 Jun 2015)

Jiblet-run said:


> more for the fact that if Tesco were to pull it's credit card operations from Ireland - I'd still have a backup card with a good balance



Is there a reason you say this? I am considering joining Tesco for credit card and will be annoyed if I have to go through the application process again shortly.


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## Jiblet-run (10 Jun 2015)

There's nothing to suggest that Tesco will leave the credit card market in Ireland and no reports that I am aware of as such.

I guess I always like to be prepared hence holding on to my other credit card.
I've done the same in the past with my current accounts - in that while NIB were in the market, I opened an Ulster Bank A/C - and when NIB began to close, I moved my business across to Ulster Bank fairly seamlessly. 
Since then I've opened a PTSB A/C - just as a precautionary step.
I just like to have options.


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## Ceist Beag (23 Jul 2015)

Just a reminder to those with any YourPoints balance - cash it in now as you are no longer earning any balance and the chance to cash it in will end soon - as per their website you "have until 31 October 2015 to redeem any points earned, after which any points not redeemed will be removed."


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## tallpaul (23 Jul 2015)

I have to wait until the 27th of this month to ensure that points accrue from purchases made between 27th and 30th June. Depending on what you want to use the points for, it may be beneficial to wait a month or two also. For example, I will probably cash in for Argos vouchers and as I am in no rush to buy anything there, I will wait to extend the expiry date of the vouchers when I get them.


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