How can we make Premium/Metal 10x better?

In October. For card-present transactions the caps will be equal to the EU ones.

I still don’t get it. Why are customers so eager to get cashback on their card transactions? The merchants will not pay these out of their pocket but increase the prices accordingly to cover the cost.
For me, the ideal world would be an interchange fee as low as possible so it just covers the cost involved to process the transaction end to end including the settlement and get rid of any cashback or any other loyalty program payed out of the interchange fee.
As always, in the end the consumer pays it. Higher fees for the merchants means higher prices in the shops.

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No, the prices are already in what they charge the merchant.

It’s the bank returning this to the customer from their own profits.

No thank you :slight_smile: I would rather pay 0.5% extra to get an extra 1% on rewards and then have someone not using a rewards card pay the other 0.5%, if this were the case.

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That’s not how economy work. Each company, banks included, aim to make a profit, and if possible, a good one. That’s the definition of a company and what each owner want’s to see from his invested money. ROI = Return on Investment.

This profit/ROI comes from ( in a simplified version) the difference between what they get from selling the products/services minus what they have to pay to produce it’s products/provide the services (production cost/taxes/saleries/…). => revenues versus expenses

In the end, everything they have to pay, including any cashback, accounts to the expenses. Expenses are always paid through the company’s revenue. Therefore, if expenses increase, a company will try to also increase revenue. This would mean higher prices for the customer.

And in the end, the customer is us buy products in whatever shops.

If you’re assumption would hold true, there would be no need to charge interchange fees as high as they used to be before introducing the caps and still are where no caps exist. It would also mean, company owners are not interested in making profits out of their investment.

This is a somewhat selfish view on an instrument the governments want’s to force on us more and more. To control the finance flows, government would love to get rid of cash completely. Doing this without surrounding legislation would lead to a monopoly of the finance industry in the payment process without alternatives for the customers. In this point of view, I count merchants as customers too as these are the customers of the acquirers and not only us buying products in shops. It would open up a guaranteed and good stream of revenue for any company within the electronic payment industry as they would aim to get as much cash out of that finance flow as possible (through interchange fees, as one example). That’s why caps introduced within the EU and hopefully soon globally (probably won’t happen too soon) limit this to an acceptable amount of the transaction value with the intention to just cover the cost of running this system plus a profit for the involved companies.

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At this moment I have the metal subscription (I got it for free inviting 5 friends).
I would consider paying for the metal subscription if:

  1. Revolut raises the cashback in Europe
  2. Better insurance and more days per year (for example when I pay a renting vehicle with my credit card I have the cars insurance for free).
  3. 3D secure

A plus would be more partnerships with important companies (either for traveling or for everyday-shopping).

Add fingerprint/biometric on the metal cards! Instead of pin!

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I wonder if this got fixed?

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No, since Revolut has their own terms on what they count as EU. Serbia isnt part of the EU either, yet they have it on their list. :slight_smile:

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When was the last time you bought something?

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Nope. It’s intended functionality XD

Actually it’s because we read it wrong :slight_smile:

Their T&C say Europe - not EU.

MasterCard considers Russia and Serbia as European :slight_smile:

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Ability to add more then one metal card but the limit of 3 active cards can remain so for example I would be able to have 5 metal cards witch I can only have 3 simultaneous physical card active. Right now it only possible to activate 3 cards but You have to contact support to activated a card that you reported stolen or lost.

With my Revolut card ? Today!
Since I have the metal subscription I use it more than I use my normal credit card, I use it for everything.
Now I only use the normal credit card when it’s an online payment with 3D secure and I can’t do it with Revolut.

  • No limitation for trading or at least more trades than 3 trades/ 5 bussines days
  • No taxes at cryptocurrencies or much smaller then now and put a taxe like 5$ for every 5 transaction (just an example)

My transactions are all 3-D now. Maybe they only support it for certain cards?

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Do you use the virtual, disposable or fisic card for online payments ?

Physical Visa (100% certain) and disposable MasterCard (I think).

I share my account with members of my family, minors?

Discount in additional services like: iCloud/Google Drive storage, Dropbox, 1Password, Amazon Prime…

My ideas for substantially better Premium and Metal:

  1. Freedom of choice between Visa, Mastercard and Maestro (or all three if someone wants) for Premium and Metal
  2. Optional (and discounted) Priority Pass Select membership for Metal.
  3. Include pre-existing conditions in travel insurance for Metal.
  4. Optional car rental excess insurance for Metal.
    Ability to have all three: Visa, Mastercard and Maestro should alone bring you many more premium members.
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I think that may be the issue. I only use the disposables and when it’s not possible the virtual.

I will try with the physical one to check if I can.

Thanks!