Category: Credit

The global e-commerce market has reached new heights in 2022, with an expected end-of-year value of more than $5.5 trillion (USD). In turn, merchants are experiencing more opportunities to grow their businesses and reach new customers than ever before.

As merchants work to fortify their businesses to handle a larger volume of customers, it is crucial to have a robust approach to marketplace payment processing. With an optimized payment system and platform, merchants can maintain the competitive edge needed in 2022 and beyond.

This article discusses marketplace payment processing, including what it is, how merchants can use it, and which key capabilities to look for in a payment processing solution.

What is Marketplace Payment Processing?

Marketplace payment processing is a term that describes the technology and digital solutions that facilitate a digital payment system in an online marketplace. 

Traditional payment processing involves credit and debit cards, requiring an exchange of cardholder information to make a purchase. Nowadays, many other types of payments can be made through a payment processing system outside of credit card purchases.

How Can Merchants Use Marketplace Payment Processing

Although it is technically possible for a merchant to try and build a payment platform from scratch, the better option is to partner with a fintech company with a fully-functional payment processing platform. 

With a marketplace payment processing platform, merchants can access all or most of the capabilities needed for e-commerce. Moreover, many payment processing platforms offer customizable features that payments leaders can adjust to each specific merchant’s needs. 

However, it is crucial for merchants to complete their due diligence and determine what they want and need from a payment processing platform. Then, they can begin their search for the ideal platform based on the specifications they have outlined.

5 Key Capabilities for a Marketplace Payment Processing Solution

Here are 5 top capabilities to prioritize when choosing a payment processing solution:

1. Speedy Transactions

Fast transaction speeds are a crucial component in any payment processing system. 

A lot can go wrong in the transactional process, leading to a transaction taking a long time or being rejected altogether. As such, looking for a payment processing solution and platform that can offer highly efficient transactions is vital.

Some critical details to look for that indicate high transaction speeds include smart routing features that route transactions to the optimal gateways, automated fraud prevention and protection tools, and high authorization rates.

2. Multiple Payment Methods

Alternative payment methods outside of traditional debit and credit card payments are on the rise.

For merchants that plan to expand internationally, the ability to implement and enable the maximum amount of payment methods is ideal. From digital wallets to Buy Now, Pay Later, it is essential to offer customers various payment methods and focus on offering the most commonly used methods in specific local areas. 

Moreover, merchants need the ability to fully secure their payment methods through security measures like encryption and tokenization. This ensures a merchant’s customer cardholder data is kept safe throughout the payment process.

3. API Integrations

Aside from enabling a wide of different payment methods, it is also crucial to have one or more APIs that allow for the integration of other tools, such as fraud prevention solutions. 

With the help of APIs, merchants can integrate virtually any payment service they can imagine, including solutions for accepting payments, sending payouts, managing funds, and more. In turn, merchants can build a more robust payment system that includes an ecosystem of payment service providers and gateways.

4. Payment Orchestration Platforms

Payment orchestration platforms offer some of the most robust support and functionality of any payment processing solution.

A payment orchestration platform offers a singular and unified software layer that helps with crucial payment activities such as integrating payment service providers, collecting payment funds, performing account reconciliation, and everything in between.

With a payment orchestration platform, merchants gain the advantage of an end-to-end solution that considers every payment need.

5. Activity Monitoring

As more payment methods come into play, and digital technologies fall into ever more vital roles in payment processing, it is critical to have a strong fraud prevention, risk mitigation, and transaction monitoring system in place. 

When looking for the right payment partner as a merchant, seeking out a company that offers activity and transaction monitoring is vital. Ideally, a merchant should partner with a payment orchestration platform provider that offers a unified dashboard for easy analysis and assessment of activity monitoring. 

Additionally, merchants should seek solutions that offer simplified reporting tools to help keep customers safe and derive valuable business insights.

Spreedly’s Payments Orchestration Platform

At Spreedly, our payment orchestration platform offers the front-end simplicity and back-end sophistication your marketplace needs to thrive in the coming years.

From the Spreedly dashboard, you can easily monitor your payment activity and quickly integrate new payment service providers, gateways, or other essential tools. With pre-built connections to more than 120 payment services, all offered through a single API, Spreedly provides merchants with the advanced capabilities needed for flexible payment processing without hefty development costs. 

To get started with Spreedly, create an account or contact the sales team today.

When you swipe your credit or debit card, you might think nothing of the inner workings behind payment processing. But behind the scenes, these networks can be a huge undertaking, particularly for merchants who may be unfamiliar with payment systems and card processing.

Card processing networks like Visa and Mastercard offer the backbone of payments facilitation so you can swipe without worry — allowing merchants to accept debit and credit card payments from customers and other businesses. To accept these payments, merchants must have access to an acquiring bank and the proper digital tools for accepting and processing payments, such as a payment gateway, or a payments orchestration platform.

In this article, we cover what you need to know about card processing networks, including what they are, how they work, and any fees you need to be aware of.

Keep reading to learn how you can connect to a global payment ecosystem through Spreedly!

What is a Card Processing Network? 

A card processing network is an organization that facilitates credit or debit card payments. 

Most people are familiar with the four major card networks  — Mastercard, Visa, Discover, and American Express. The first two, Mastercard and Visa, account for more than 80% of transaction volume in the United States. 

What these card networks do is fairly straightforward: they offer infrastructure for digital payments. They offer the tech that makes it possible to accept, authorize, verify, and ultimately approve digital transactions.

For many years, accepting payments from one or many payment networks was a hassle — but the credit and debit card business was still a backseat to cash. In retrospect, we now live in a world which spends on plastic — and so many merchants now support all four major payment networks. 

That’s because there are now thousands of debit card and credit card products issued by card issuers, which are often the banks and financial firms offering cards on the payment networks. Not supporting the thousands of credit and debit card products now on the market means lost sales for merchants.

The major card networks, along with a Japanese payment network called JCB International, form the PCI Security Standards Council — an organization and authority in the payments industry that regulates payment processing to protect cardholder information.  

As such, card processing networks not only facilitate card payments but also outline the rules and requirements for merchants to follow when accepting card payments.

How Card Processing Networks Work

Carrying out a transaction is a fairly complex process — one that merchants and businesses would struggle to complete without the assistance of card processing networks and payment service providers.

When a customer makes a purchase, the customer sets in motion a request to their card issuer to provide the payment to a merchant. The processing network for the customer’s card receives the initial request, passing this information on to both the merchant’s acquiring bank and the customer’s card issuer. 

These two banks are the intermediaries which get money from the customer to the merchant:

• Issuing Banks: Issuing banks are the institutions that provide debit or credit cards to the customer. Issuing banks are responsible for authorizations and set the necessary security standards and verification measures required for cardholders to make a purchase. This will often be a bank like Chase, American Express, or Citi.
• Acquiring Banks: Acquiring banks are the institutions which receive money on behalf of merchants. After a customer has made a purchase which has been authorized by the issuing bank, the acquiring bank collects the payment from the issuing bank and transfers it into the merchant’s account.

As you might have derived by now, issuing banks and, card issuers are the same organization as the payment network. Discover and American Express are two examples of a closed network, which is when the same organization both processes card transactions and issues the physical card to customers. 

While Discover and American Express are fairly widely accepted, not all closed networks are. 

Comparatively, an open network is a card processing network that does not directly issue cards to cardholders. Instead, these networks partner with other businesses to facilitate payments. Open networks often work with card issuers — a bank or other financial institution capable of issuing cards to customers. Visa and Mastercard are examples of open networks.

How Do Merchants Connect to a Card Processing Network? 

In simple terms, the way a merchant connects to a card processing network is through an acquiring bank. An acquiring bank accepts money on behalf of the merchant from the issuing bank, but in order to accept that money, there must be a connection between the two.

This connection is called a payment gateway, a solution used by merchants to accept and transfer payments from various card networks. Payment gateways are used to both simplify the transaction process and to better protect cardholder data.

For merchants who plan on enabling both card payments and alternative payment methods (PayPal, Apple Pay, bank transfers, etc), specific payment system integrations are required.

Important Cost Considerations for Card Processing Networks 

The privilege for merchants to accept plastic instead of cold hard cash comes with some costs —  fees are tacked on to every transaction made on a payment network, which are levied by payment networks, processors, and issuers. 

Card processing fees cover the cost of running large payment networks and credit card businesses, as well as supporting payment processors. In general, there are three main types of card processing fees merchants encounter:

• Interchange Fees: Interchange fees are paid to the card issuer for every transaction. These fees are calculated using a flat rate plus a small percentage of the total sale. The average interchange rate for credit cards is 1.81%. Debit card transactions are cheaper when it comes to interchange fees, costing around 0.3%.
• Payment Processor Fees: Payment processor fees are charged to merchants based on what payment processing services, tools, and equipment is used. These fees are sometimes called merchant service fees. This might include fees per transaction, as well as monthly fees, statement fees, and equipment fees (if a payment services provider is providing the equipment to the merchant).
• Assessment Fees: Assessment fees are paid to the card processing network monthly based on a merchant’s monthly sales. This is distinct from interchange in that merchants usually will only pay networks after receiving their money. These fees are paid to the card processing network to allow the merchant to accept payments from cards that belong to that specific network.

Final Thoughts: Connect to a Global Payments Ecosystem with Spreedly

For merchants, merchant aggregators, and fintechs looking to optimize their payment system, Spreedly has the tools and resources you need. 

Spreedly’s payments API allows companies to connect to the  global payments ecosystem. Companies like Seatgeek, Docusign, Volusion, and Chargebee already use Spreedly to accelerate their growth and gain access to a wide range of payment services, fraud tools, and other products. 

Plus, Spreedly’s payment orchestration platform covers all your bases with card processing networks to ensure your transactions are optimized, secure, and cost-effective. You’ll enjoy higher authorization rates and lower interchange fees, all while working to secure transactions and reduce fraud.

Whether you are carrying out traditional credit and debit card transactions or you are utilizing alternative payment methods, Spreedly has the payment method connection capabilities necessary to keep your payment system localized and frictionless. 

Get started with Spreedly today to learn the true power of payment orchestration.

A major misconception is that payments are just a transaction or a commodity, when in fact, payments are a vital touchpoint along the customer journey. Optimizing the shopping experience requires a deep understanding of the payment methods customers prefer to utilize during checkout; meeting the customers’ expectations around security and convenience.

The strategic implementation of a brand’s checkout process leads to better conversion rates, happier customers, increased recommendations, and repeat purchases. According to Infinium Inc, when a checkout process is optimized, that addresses the usual complaints, it can increase conversions by 35%.

Offering the Correct Payment Methods at Checkout

Beyond SKU and assortment, merchants should get to know their customers’ payments needs. Are customers shopping primarily on their phone versus a laptop, or even on a smart TV? Do customers make online payments infrequently or did they sign up for subscription services? Knowing your customers shopping habits, by analyzing sales data and surveying customers, leads to a more convenient and rewarding shopping experience.

Having granular insight into the customer’s preferred payment methods can help merchants avoid a common flaw in payments – offering too many options. A judicious approach, market by market, can prevent merchants from overwhelming their customers. Additionally, it has the bonus of saving time and money by simplifying integrations.

James Booth, vice president and head of partnerships, EMEA at PPRO recently stated in an article for PPRO that with

“…over 450 significant local payment methods in use across the globe… merchants need to know which payment methods are the right mix for their customers and prospects. Shoppers don’t expect all 450 payment methods to be offered but they do expect flexibility when closing the sale.”

James Booth, vice president and head of partnerships, EMEA at PPRO

Reducing Declines By Offering Multiple Payment Methods

Payments require certain checks and balances to ensure the security of transactions. However, friction due to issues such as false declines, may lead to a deterioration in customer loyalty and a poor customer experience. Reducing known issues during checkout is critical and leads to more successful digital interactions while improving the customer experience. 

Offering multiple payment methods is also a tool to improve transaction rates, leading to longer lasting relationships with customers. Payments Orchestration gives merchants the power to support cross-border purchases with higher success rates because of built-in payments flexibility. This is because merchants who automate the link between payment methods and payment gateways, can route their payments traffic to the right mix of providers who offer the highest success rates and limit declines.

Ditching Overly-Complicated Payment Forms

A report from Smart Insights revealed that 97% of consumers have terminated a purchase because the service wasn’t convenient enough. Keeping the payment form simple and convenient can make or break the sale. Merchants can reduce complication by following these simple rules:

• Develop a universal shopping platform for multiple uses cases (i.e., mobile phone, tablet, desktop, laptop)
• Don’t force users to create an account
• Only ask for essential payments-related information, using field-validation/error notifications, don’t use this time to survey customers
• Be transparent with fees, discounts, and taxes
• Offer the right mix of payment methods and use currency conversion for cross-border payments; Use security stamps to instill trust
• Parse-out the checkout form into smaller more manageable sections and indicate the steps so customers know how long it will take to complete the transaction

As online shopping continues to grow, even after COVID, new categories like building supplies and furniture join traditional apparel retail. Each merchant, fintech, platform or marketplace offering online checkout, must optimize their store by offering a customer experience that is simple yet secure, customized, and offers the payment methods their consumer wants and needs. Driving conversion, increasing retention and improving repeat visits are the result of a well-crafted shopping experience.

Reach out to Spreedly to optimize your payment offerings and checkout process here!

Sources: 

Infinum.com

PYMNTS.com

PYMNTS.com

Smart Insights

Frontier No Longer an Option for Amex Airline Fee Credit

Frontier is no longer an option for the Amex Airline Fee Credit program. This change was apparently done on November 21, 2022.

If you already have Frontier Airlines as your chosen airline, you will still get credited for eligible purchases during 2022. But the airline will no longer be eligible going forward.

Frontier has already been removed from the list, and now you only have eight options. That includes:

• United Airlines
• Hawaiian Airlines
• Spirit Airlines
• American Airlines
• JetBlue Airways
• Southwest Airlines
• Delta Air Lines
• Alaska Airlines

Amex Airline Fee Credit

You can select one qualifying airline and then receive statement credits per calendar when incidental fees, such as checked bags and flight-change fees, are charged by the airline to your eligible card:

• Amex Platinum – Up to $200 per year
• Amex Business Platinum – Up to $200 per year
• Amex Hilton Aspire – Up to $250 per year

To receive statement credits, Card Member must select one qualifying airline at www.americanexpress.com/airlinechoice. Only the Basic Card Member or Authorized Account Manager(s) on the Card Account can select the qualifying airline. Card Members who have not chosen a qualifying airline will be able to do so at any time. Card Members who have already selected a qualifying airline will be able to change their choice one time each year in January at www.americanexpress.com/airlinechoice or by calling the number on the back of the Card. Card Members who do not change their airline selection will remain with their current airline. 

You can normally change the airline one additional time, even if you do so in January, or forget to change it. Just chat with a rep.

How It Works

The airline fee credit is a great benefit for premium Amex cards  that come with big annual fees. Amex Platinum cards have a $695 fee and the Hilton Aspire card has a $450 fee.

You can always double dip, as you get the credit every calendar year. That means that you can get it twice during your card membership year, while paying the annual fee only once. But if you time your application correctly (apply in early December), you can also triple dip.

The credit also works for more than just incidentals. Checked baggage fees, change fees, seat assignment fees, onboard purchases and lounge passes are all included. But you can often get reimbursed for just purchasing airfare as well. This usually works for cheaper fares, $99 or less for Southwest and under $150 for JetBlue for example. However this varies by airline, and you should always check recent data points.

HT: devilm116

We’re not saying your home is a literal ATM, but if you take out a home equity loan or home equity line of credit (HELOC), you can withdraw from the equity locked inside your home to pay for home improvements, medical expenses or school expenses or to consolidate your debt. 

Of course, the process isn’t as simple as punching in a few numbers and watching cash spew out of a slot. Like using an out-of-network ATM, home equity loans and HELOCs have fees. There are a variety of fees and closing costs, including the appraisal fee.

Fortunately, lenders are more relaxed about appraisals for HELOCs and home equity loans. These appraisals are usually less expensive than an appraisal for a home you plan on purchasing and more flexible than a traditional in-person assessment of your property.

Whether you use a home equity loan or HELOC to tap into the cash in your home, your lender will likely require a home appraisal. We’ll explore the different types of appraisals you’ll encounter and explain how you might be able to waive the appraisal altogether.

Is an Appraisal Required for a Home Equity Loan or HELOC?

Most home equity loans and HELOCs require an appraisal.

Home equity loans and HELOCs let you borrow money against your home’s value. To determine your maximum borrowing limit, your lender needs to know how much your property is worth. And that’s where the appraisal comes in.

Let’s say your home appraises for $250,000, and your lender approves you for a HELOC capped at 80% of your loan-to-value (LTV) ratio. Your LTV is your home’s appraised value minus the amount you owe on your mortgage. If you owe $100,000 on your mortgage, you can borrow up to $120,000 (80% of $150,000).

What Kind of Appraisal Do You Need for a Home Equity Loan or HELOC?

The type of appraisal you’ll need for a home equity loan or HELOC will depend on your lender. Some lenders will require a traditional in-person walk-through, but many will accept these alternative appraisals: 

Desktop appraisal

Desktop appraisals cut out the in-person visit. A desktop appraisal is completed at the desk of a professional appraiser using public property records and other available third-party data. 

Automated valuation model (AVM)

An AVM is a computer program that uses a specific formula to estimate a home’s value using local area information, basic property characteristics and comparable home sale prices in the area. 

Drive-by appraisal

A drive-by appraisal is an in-person appraisal of a home’s exterior (not the interior). It includes an analysis of the home’s property records and comparable home sales in the neighborhood.

If you know your lender is scheduling a drive-by appraisal, it may be a good idea to spruce up the outside of your home. Adding a flower box or painting your front door may help boost your home’s appraised value.

Hybrid appraisal

A hybrid appraisal divides the in-person appraisal and the data analysis of your local housing market data between two parties. A third-party inspector handles the in-person inspection, and the licensed appraiser focuses on the local data analysis to estimate your home’s fair market value. 

Full appraisal

A full appraisal involves a licensed appraiser visiting your home to inspect it inside and out and from top to bottom. The appraiser will document your home’s condition and note any upgrades on the property. The appraiser will compare your home to similar properties recently sold in the area and use their data and comp analysis to reach an appraisal value for your home.

Does a No-Appraisal Home Equity Loan or HELOC Exist?

Most lenders will require at least a desktop appraisal, though some may make exceptions and waive the appraisal.

You may qualify for a no-appraisal home equity loan or no-appraisal HELOC if:

• A previous appraisal was performed within the last 60 – 180 days.
• You are borrowing less than $100,000.
• You have an excellent credit score and have worked with the lender before.

Some lenders may offer no-appraisal home equity loans or HELOCs for other reasons, but these loans may have additional fees and higher interest rates.

Do You Pay for the Appraisal at Closing?

Most lenders will add the appraisal fee to your closing costs. In other cases, you may pay for the appraisal before closing. Sometimes the appraisal fee is folded into the loan and gets paid off over time.

How and when you pay for an appraisal will depend on the type of appraisal performed and how your lender decides to bill you.

Don’t Fear the Home Appraisal

You can leverage your home equity to finance home repairs, pay down high-interest debt or cover college tuition. If your lender requires an appraisal for your home equity loan or HELOC, it will likely be less expensive and less involved than a traditional appraisal to buy a home.

Home Equity Lines of Credit (HELOCs) and home equity loans are two of the most popular ways for homeowners to borrow money at low-interest rates. HELOCs give a rolling line of credit with a variable interest rate, while home equity loans provide a lump sum upfront with a fixed rate. 

Each loan type has financial advantages and disadvantages, but an expense that applies to both HELOCs and home equity loans is closing costs. In this guide, you’ll get a better understanding of home equity closing costs and how to get a home equity loan or HELOC.

Closing Costs for Home Equity Loans and HELOCs

HELOCs and home equity loans are like mortgages insofar as you’re required to pay closing costs. Like mortgage closing costs, home equity closing costs typically range between 2% – 5% of the loan’s value. Various fees and expenses make up home equity closing costs, including:

• Origination fee: Lenders charge an origination fee to cover the cost of processing the loan. Some lenders charge a flat fee, while others charge a percentage of the loan’s value, usually between 0.5% – 1%. 
• Document and processing fees: Lenders may also charge credit report fees, notary fees, attorney fees, county filing fees and an application fee. These costs will vary by your location, lender and the complexity of your loan.
• Home appraisal: Lenders require a home appraisal to determine your home’s current fair market value and calculate your equity. On average, a home appraisal fee costs $300 – $425.^[1] These costs can also vary based on the type of appraisal, as desktop, hybrid and traditional appraisals often have different costs. Whether you get your appraisal through an appraiser or a real estate agent can also affect the appraisal fee.
• Title insurance and fees: You may be required to pay for a title search and title insurance. A title search is relatively inexpensive compared to other closing costs, but it will still add to the total costs you have to pay at closing. If you’re required to get title insurance, it could cost you significantly more.
• Insurance: Depending on where you live, you may need to pay for additional insurance coverage, like flood insurance. Every insurance plan you’re required to get will increase your closing costs and monthly housing expenses.
• Points: Lenders can offer you the opportunity to buy mortgage discount points. These points let you (the borrower) lower your interest rate by paying more upfront. While these points can save on your long-term expenses, they’ll undoubtedly increase the amount you have to pay at closing.

Do you need to pay all your closing costs upfront?

Some closing costs may need to be paid upfront, while others can be added to the loan. This will likely depend on whether the closing costs are paid directly to the lender or a third party, like a home appraiser. Some costs – like mortgage discount points and origination fees – typically need to be paid at closing.

Can you get a no closing cost home equity loan or HELOC?

Many lenders advertise no closing cost home equity loans or HELOCs, but this doesn’t mean you won’t pay any closing costs. Instead, it usually means the lender is willing to waive some fees or roll most – or all – of your closing costs into the loan, allowing you to pay them over the course of your loan. 

These types of loans can save you money upfront, but they could cost you more in the long run. If your closing costs are rolled into the loan, you’ll need to pay interest on those costs. Be sure to carefully review your lender’s offer to know exactly how much you’ll need to pay over time.

Additional HELOC Closing Costs

Compared to a home equity loan, HELOCs often charge fewer fees upfront. That said, you do need to pay other fees over the life of your HELOC, including:

• Annual fees: Like many credit cards, you’ll need to pay an annual fee to maintain your HELOC. This applies even if you don’t use any funds in a given year.
• Transaction fee: Certain HELOCs charge a small fee every time you withdraw funds. You may need to pay additional transaction fees if you exceed a set number of withdrawals per month.
• Inactivity fee: Some HELOCs may charge a fee if you don’t access your HELOC funds for a certain period of time.
• Early termination fee: If you choose to close your HELOC before the end of the draw or repayment period, you might be charged an early termination fee.

How To Lower the Closing Costs for a Home Equity Loan or HELOC

Fortunately, there are several ways to lower your closing costs before you close on a home equity loan or HELOC.

Improve your credit

Closing costs are partially dependent on your credit report and credit score. Improving your credit score will make you a lower-risk candidate in the eyes of the lender. This could make them more willing to offer you greater leniency with fees and closing costs. Plus, better credit will likely qualify you for better terms in general, including lower interest rates and monthly payments.

Shop for the right deal

Every lender offers different loan terms, so shopping around could help you get a home equity loan or HELOC with better terms. For instance, a credit union or local lender might be willing to settle for a desktop appraisal because they’re familiar with the community, saving you the higher cost of a traditional appraisal. 

Alternatively, some lenders simply offer better rates and terms than others. You could find that one lender charges 1% of the loan amount in origination fees, while another charges a flat fee that comes out to much less. In any case, you should always shop around and compare at least two or three lenders to find the best deal on interest rates and closing costs.

Be ready to negotiate

Like mortgages, home equity loans and HELOCs give you a little room to negotiate closing costs. With either type of home equity product, all closing costs must be clearly spelled out in the loan estimate form. You can use this information to see if there are costs or fees that the lender may be willing to waive or to see if there are services you can shop for to get a better rate.

Don’t Let Closing Costs Stop You

A home equity loan or HELOC can provide a great way to access money for home repairs, improvements or paying down debt at an affordable interest rate. While closing costs might make these options seem less appealing, they are a standard part of exchanging your home’s equity for cash or credit. Moreover, there are various ways to lower your upfront expenses and waive some of your closing costs.

20Nov2022

This year started out strong with all-time high sign up bonuses from various credit card issuers. Unfortunately, it is starting to look like we are closing out the year on a low note. Earlier today, we published a post regarding the end of the MBNA Alaska Airlines cards. Now we are writing a separate post on one of my personal favourites, MBNA Best Western MasterCard, who is also coming to an end.

MBNA Best Western MasterCard

Going Forward

The card is closed to new applications, but existing cardholders can continue to use their cards for the time being. In other words, there is no firm deadline on when the card will be completely terminated, any grandfathered cardholders can continue as usual.

Since this is a no annual fee card anyway, this is a no-brainer for to me keep the card as long as it is still available.

Thoughts on the Discontinuation

Otherwise, I suspect that we will slowly be seeing the full integration of MBNA with TD, and MBNA will stop going by that name. Time will tell.

Either way, writing two discontinuation posts in a row is pretty sad. I really hope that we can still close out the year strong!

20Nov2022

Yikes! Another one bites the dust. Most of you probably already heard about this, so today, now that the dust has settled a bit, I will chime in my 2 cents on what happened.

Before I continued, just know that if you are an existing MBNA Alaska Airlines MasterCard holder, you are still safe. Unfortunately, MBNA has decided to discontinued their MBNA co-branded Alaska Airlines cards.

Below were the highlights of the cards if you managed to sign up for one:

Amazon Amex Points Promo – Save Up to 50%

Update (Nov. 19, 2022) – This promotion is back again for select Amex cardmembers. Some people are seeing the best offer which gets you 50% off, up to maximum savings of $80 on your Amazon purchases. Take another look if you were were not eligible last time around. Some people are even targeted for a second time. This offer shows up on Prime and non-Prime accounts.

This is a limited time offer. The promotion will end on the earlier of (a) 11:59pm PT on 12/26/2022, or (b) the time at which 40,000 customers have redeemed the offer. The promotion button will expire concurrently.

PROMO PAGE (affiliate link)

Here’s a list of some of the current deals and discounts for Amazon purchases:

• Amazon, $15 Off When You Use Citi Card
• Shop with Citi Points, Up to 30% Discount (expires 11/30/22)
• Try Amazon Photos, Get $15 Off $30 on Next Purchase (expires 11/30/22)
• Amazon Amex Offer: Earn Extra 5x, Up to 2,500 Total (expires 12/15/22)
• Shop with Amex Points, Up to 50% Discount (expires 12/26/22)
• Shop with Discover Cashback, Up to $30 Discount (expires 12/31/22)
• Shop with Chase Points, Up to $20 Discount (expires 12/31/22)
• Make Discover Your Default Payment, Get $10 Off (expires 12/31/22)
• Amazon, Get $12 Off Your Next $25+ Pickup Order (expires 12/31/22)
• Add $100+ to Your Amazon Balance, Get $12 Bonus (expires 12/31/22)
• Amazon App, $15 Off $25 on 2 Orders for First Time Users (expires 12/31/22)
• Bilt Mastercard, Get 500 Points when You Enroll in Amazon Shop with Points

Amazon offers free shipping on orders of $25 or more. If you’re a Prime member, then you can also get free 1-day shipping on most items that are sold directly by Amazon. You can save on a Prime membership if you are a student (affiliate link), or an EBT/Medicaid cardholder (affiliate link). You can also just sign up for an Amazon Prime 30-Day Free Trial (affiliate link).

 

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Original article:

There’s a new promotion that launched today for Amazon. You can save $20 off a purchase of $50 or more, or 40% on your next purchase (up to $50 savings) of items sold by Amazon. Other version of the offer are also possible. You need to use Membership Rewards points to take advantage of this Amazon Amex Points Promo.  The discount should work for third party gift cards sold on Amazon as well.

Here are some of the offers that you might see:

• 50% on your next purchase (up to $80 savings)
• 50% on your next purchase (up to $60 savings)
• 40% on your next purchase (up to $50 savings)
• $20 off a purchase of $50 or more
• 30% on your next purchase (up to $30 savings)
• 20% on your next purchase (up to $40 savings)
• 20% on your next purchase (up to $20 savings)
• 10% on your next purchase (up to $10 savings)

How it Works

Redeem your promotional discount in 3 easy steps:

• Click on the “Activate now” button here (affiliate link) to activate this promotion and apply points to your next order. You MUST click on the button to receive the promotion credit.
• Add one or more of eligible products sold & shipped by Amazon.com to your shopping cart. You can redeem on multiple purchases.
• Use Membership Rewards points at checkout. To redeem this offer, you must use Membership Rewards points for at least a portion of your order (you can use just 1 point).
• Savings will show on the final order checkout page if the items in your order are eligible for the promotion

Offer Terms

• This is a limited time offer. The promotion will end on the earlier of (a) 11:59pm PT on 5/1/2022, or (b) the time at which 17,901 customers have redeemed the offer. The promotion button will expire concurrently.
• Amazon.com reserves the right to cancel or modify this offer at any time.
• Offer applies only to the purchase where Membership Rewards points are used for at least a portion of the purchase and the promotion code is applied at checkout.
• Offer only applies to products sold by Amazon.com (Look for “sold by Amazon Digital Services LLC” on the product detail page.) Products sold by third-party sellers or other Amazon entities will not qualify for this offer, even if “fulfilled by Amazon.com” or “Prime Eligible”.
• Limit one promotion code per Membership Rewards eligible card.
• Offer may not be combined with other offers.
• Shipping charges may apply to discounted promotional items.
• Offer does not apply to purchase of digital content.

Guru’s Wrap-up

Another great  promotion from Amazon. Only works for products shipped and sold by Amazon.com. Just make sure you activate the promotion first and use one Membership Rewards point. Using points on Amazon is not a good idea, as you get terrible value. So make sure it doesn’t default to paying your whole order with Amex points. Also let me know if you see any different offers from the ones listed above.

The offer ends once 26,666 customers redeem it. So check this out right away, activate it and start shopping.

Here’s a list of some of the current deals and discounts for Amazon purchases:

• Amazon, $15 Off When You Use Citi Card
• Shop with Citi Points, Up to 30% Discount (expires 11/30/22)
• Try Amazon Photos, Get $15 Off $30 on Next Purchase (expires 11/30/22)
• Amazon Amex Offer: Earn Extra 5x, Up to 2,500 Total (expires 12/15/22)
• Shop with Amex Points, Up to 50% Discount (expires 12/26/22)
• Shop with Discover Cashback, Up to $30 Discount (expires 12/31/22)
• Shop with Chase Points, Up to $20 Discount (expires 12/31/22)
• Make Discover Your Default Payment, Get $10 Off (expires 12/31/22)
• Amazon, Get $12 Off Your Next $25+ Pickup Order (expires 12/31/22)
• Add $100+ to Your Amazon Balance, Get $12 Bonus (expires 12/31/22)
• Amazon App, $15 Off $25 on 2 Orders for First Time Users (expires 12/31/22)
• Bilt Mastercard, Get 500 Points when You Enroll in Amazon Shop with Points

Amazon offers free shipping on orders of $25 or more. If you’re a Prime member, then you can also get free 1-day shipping on most items that are sold directly by Amazon. You can save on a Prime membership if you are a student (affiliate link), or an EBT/Medicaid cardholder (affiliate link). You can also just sign up for an Amazon Prime 30-Day Free Trial (affiliate link).

 

 

As an Amazon Associate I earn from qualifying purchases. You should always check shopping portals such as Rakuten, TopCashback, RebatesMe and more for possible cashback.