Popular credit cards, one of which allows users to accumulate points on Amazon, will end next January and users must convert or be redeemed for a new transaction.
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Around 800,000 Brits are using Amazon Credit cards have one year left before they are cancelled.
Issue affecting Amazon Classic and Platinum Master card The latter allows users to accumulate points to spend on Amazon purchases.
This credit offered by supplier NewDay, which is now out of agreement.
Card users have until January next year before their card is deactivated, MoneySavingExpert Report.
The exact end point is yet to be revealed.
Platinum card holders get 0.75 points for every £1 they spend at Amazon, or 1.5 points if they have Amazon Prime.
They get 0.25 points for every £1 spent elsewhere.
When they hit 1,000 points, they automatically receive a £10 Amazon gift card.
Classic card holders cannot earn points and the item works more like a standard credit card.
Those with either card in January 2023 will keep their account but be issued a new card from NewDay, branded as ‘NewDay Pulse’.
These don’t offer any kind of Amazon points, although the Pulse card will give you 0.25% cashback on whatever you spend, capped at £150 a year.
NewDay announced the termination of the agreement with a stock exchange notice.
“We’ve enjoyed a successful partnership with Amazon over the past few years, and we wish them all the best for the future,” said NewDay’s chief financial officer, Paul Sheriff.
The Mirror understands that the supplier ended the deal because it was not making enough money.
Amazon has been approached for comment.
You can close your Amazon credit card before January next year, although any debt needs to be paid off first
You can close your account using the Amazon Mastercard app, by logging into your account online or calling 0333 220 2672 for Platinum cards and 0330 838 0160 for Classic cards.
The closure will see the online retail giant shut down all of its bookstores as well as its 4-Star stores and pop-up locations.
Amazon has confirmed 66 stores in the US will close, while two in the UK will also close.
The US-based tech giant just opened The UK’s first 4-star Amazon storelocated in the Bluewater mall, October 2021.
It’s been described as a “small department store” and sells items like books, technology, and toys – all with a 4-star rating or higher.
The UK’s second Amazon 4-Star opened at Westfield shopping center in London in November 2021.
Closing dates are expected to vary depending on the location of each store, according to Reuters, which first posted the news. It is not clear how many workers will be affected.
“We have decided to close our 4-star Amazon, Books, and Pop-up stores, and focus more on Amazon Fresh, Whole Foods Market, Amazon Go and Amazon Store stores,” Amazon said in a statement. Amazon Style”.
https://www.mirror.co.uk/money/amazon-classic-platinum-mastercards-axed-26442627 Amazon Classic and Platinum Mastercards will be processed affecting 800,000 Brits