Went in to my Curve app today and it offered me the opportunity to earn cryptocurrency rewards instead of cashback rewards.
Anyone actually taken them up on this?
My current cashback earnings are just over £5, so hardly the worth the bother of conversion. Not that I would anyway cos I am not a fan of cryptocurrency.
Will this go down as one of the most ill-advised fintech business decisions this year ?
I remember when Tandem went down the route of charging (was it £6pm ?) for their 0.5% cash back credit card - IIRC it lasted a matter of months before they closed it down. No doubt someone has sat down and modelled Curve’s decision with a (cough) “ambitious” conversion rate from Curve (unpaid) to Curve X, and therefore it “makes sense” to their finance director to proceed.
Nearly 5 months down the line, I looked at my Curve Card again tonight and realised it expired at the end of October 2022, and I hadn’t been reminded and/or sent a replacement card. I just logged in and it didn’t invite me to renew, but did - when I went to order a replacement - offer me a “free” replacement card. Woo and indeed hoo
I used my Curve Card recently and noticed that Curve Flex worked in a different way than previously. Intrigued, I swiped on a transaction for around £60 to HMV recently. I was offered to pay in installments in 3, 6, 9 and 12 months, but unlike Tymit they ALL attracted an interest charge. Relatively modest at 11% pa but certainly not something that I personally would consider. It does smack either of financial desperation, or an owner who really has no idea. I’ve been reading reviews of working at Curve on Glassdoor and it really doesn’t make pleasant reading. It sounds curiously like Bunq, with an irksome owner who staff genuinely seek to avoid.
Their email only customer support was joint worst with Revolut honestly, the only thing they’ve got going for them is that they support and enable Huawei mobile Payments and also have that JV with Samsung to run their card offering (no idea why Samsung thought people would be interested in Curve if anyone in their leadership in the UK had tried it)
From reading the reviews of people working there, it looks as if the owner/CEO has the attention span of a mayfly, and alights upon an initiative, half-develops it, and flies off elsewhere. He’s personally abusive to a large number of staff and has that hire and fire mentality that some in the private sector thrive on.
Like Elon Musk, he has also had to hire back (at no little expense) people he has sacked in a fit of pique.
I had a similar experience about having my card blocked - silly me, I tried to buy a ticket online in France from SNCF for €30 and it blocked me “because this was a transaction abroad” (despite having done so the week before). It took about 4 weeks of toing and froing to get the card reinstated. I ended up using Currensea for the transaction, which had no problems at all.
I’ve had an interesting interaction with them recently. I reopened my account and a card was immediately reissued to my previous address. I emailed them informing them of the issue but they had closed the chat thread (said they would open a new one immediately but didn’t). Through the app I marked the card order lost and reissued to my current address, they later (next day) replied to my email and reissued a card to my updated address. I think there are now three cards in transit - I added the second to Apple Pay but the card number no longer matches…
Some of this has been my fault but their systems seem very slapdash - it’s odd to think they’re creeping in fees but giving away multiple cards for nothing to me…
They let my card expire and didn’t remind me. I was going to be stung for £5 for a new oe, but at the last minute, the £5 was crossed through and I got it - as I should have - for nix. Given their abysmal responses to previous engagements, I didn’t think it was worth enquiring or quibbling about.
Supposedly there are not two headed to my address and what I instigated in app did not work and required their intervention - I’m still expecting two to arrive lol!
I’m only really going to use it to enable small purchases without FX on one credit card & small contactless payments for a card that doesn’t support Apple Pay.
Anyone still using their Curve Card? I’ve closed my account last year due to false promises and removal features, but considering re-applying again for the Credit Card to debit card feature as I can’t find an alternative.