Hi All
Just got my latest credit card statement through for the month and notice announcement that looks like it may apply for purchasing gold/silver
Photo attached below, but will type out also for those viewing on phones
" Changes to Cash transaction types
From 15th October 2021, certain cash-like transactions will be treated as cash transactions instead of Card purchases:
Sending money order or wire transfers (other than balance transfers or money transfers).
Buying coins, bank notes or digital currency
Paying government or court fines, enforcement penalties, fees or costs
Online trading such as share dealing or investments
Purchasing or topping up electronic money, payment cards, mobile wallets or account dashboard services
We may charge you a cash fee for making them
You'll no longer earn cashback on these if you do now
See statement Summary Box for fees and charges applicable to your account "
These changes are on my Bank of Scotland credit card, but as it falls under the Lloyds banking group the likes of Lloyds, Halifax, and MBNA i would assume these changes will.
Normally when big changes like this happen, the other providers follow suit
Shame for this to happen, i used to like building IHG mastercard points for a free break away each year buying my bullion, fuel & shopping with my credit card, also could fund an in demand Royal Mint 2oz gold or Queens Beast gold completers using my credit card and then spreading the costs of them over a year with a balance transfer
Looks like the beloved bank are trying to sap more sweat & fees from the great unwashed who used their services
Although it doesn't reference gold/precious metals specifically, i am 90% sure it probably will
Anyone know for sure if it will apply to buying gold/silver ? work inside bank/credit card company ??