Posted 14 February 2022

Credit and Insurance deals temporarily not allowed

Good morning all

Just wanted to share a somewhat annoying update. Due to some changes in the way the financial regulator (the FCA) plans to work, and decisions we have taken off the back of that, we cannot allow deals/discussions in the following categories on a temporary basis:

Credit Cards (including some Buy Now Pay Later deals)
Insurance
Car Leasing
Bank Accounts
Savings accounts
Cryptocurrency

We will also be removing all previous deals in these categories (even if Expired). Our aim is to bring them back though, as soon as possible.

Why is this?

The short version is, we have been allowing these deals using the 'Appointed Representative' (AR) system - an option used by many other publishers like us. This means we work with a firm who is regulated by the FCA, and piggyback off their status to mean we can accept this content.

The FCA is starting a market study to review this AR system, which has led to a number of AR firms - including the one we work with - to decide not to offer this approach any more. We are currently exploring the other options to allow these deals again, and are confident we'll get there, but there will be gap where we cannot accept them

How long will it last?

I'm afraid we can't say for sure. It is likely to be at least a couple of months, but I can't give any more certainty than that. Once there are any updates I can give you, I will
Thanks
Dan
Community Updates
New Comment

88 Comments

sorted by
's avatar
  1. Pinned
    Dan's avatar
    Author
    FYI - more categories have been added to the list in the OP

    Fixed term savings accounts
    Cryptocurrency
    Offers for existing credit card customers (edited)
    sajidtg's avatar
    Hi Dan,
    Deal from credit card offer also got removed.
    For example - Spend £100 and get £40 back at Argos via American express.
    Is that not allowed aswell?
    Thank u
  2. vutuubunn's avatar
    My current account switching offer has just been rejected on this grounds. But I think that's wrong - getting an overdraft is just a feature that's offered during the application. It's in no way mandatory to take the offer.
    Dan's avatar
    Author
    Hi. Really sorry for this - I'm afraid the rules from the FCA are really clear though, if an overdraft is available as part of the application process, we currently can't allow it.

    Believe me, we are very frustrated about this too - and doing what we can to find a way through it to allow these again
  3. bozo007's avatar
    So cashback / rewards offers for existing card holders, like the ones from Amex, are also out because they may induce someone to get the card?

    groenleader14/02/2022 10:55

    Woo! This is good, to much miss-info on these posts leading people to make …Woo! This is good, to much miss-info on these posts leading people to make a possible ill informed choice.


    Misinformation like? Please share some examples. I have personally not seen anything stupid that hasn't been called out, and I would be surprised if anything slipped through the HUKD members' scrutiny. (edited)
  4. mkaras1980's avatar
    Hi Team, any news when we may have car lease deals back?
    mkaras1980's avatar
    Hello? :-)
  5. Brian_'s avatar
    I wondered where all the £100 amazon voucher deals for taking out life insurance had gone. Assume this is for the same reason?
  6. .MUFC.'s avatar
    it's a shame previous deals/posts have to be removed, I often refer back to them for information/reminder etc..

    It's getting more like China everyday. (edited)
  7. Achieve789's avatar
    I’ve noticed a huge drop in lease deals being posted, there used to be lots.
  8. Chanchi32's avatar
    bozo00714/02/2022 11:35

    So cashback / rewards offers for existing card holders, like the ones from …So cashback / rewards offers for existing card holders, like the ones from Amex, are also out because they may induce someone to get the card?Misinformation like? Please share some examples. I have personally not seen anything stupid that hasn't been called out, and I would be surprised if anything slipped through the HUKD members' scrutiny.




    existing cardholder offers e.g. Amex credits at retailers are still ok to post as far as I know.
    dré.'s avatar
    No, I just had my £5 off at aldi taken down.
  9. Dan's avatar
    Author
    .MUFC.14/02/2022 17:36

    it's a shame previous deals/posts have to be removed, I often refer back …it's a shame previous deals/posts have to be removed, I often refer back to them for information/reminder etc.. It's getting more like China everyday.


    I really wish they didn't. But we've had clear advice that, for the period we are without regulated status, old deals have to be removed (as users could still click the link and apply, even if for a different product)

    beergut14/02/2022 17:28

    I guess that explains where the late 2021 Curve card deal for £15 credit …I guess that explains where the late 2021 Curve card deal for £15 credit has disappeared to. I opened an account for the first time to get the bonus but I should have listened to people in the previous Curve thread. Again Curve have not automatically paid out and they have closed my chat saying they "don't have enough info" regarding the promo codes and they'll get back to me. Total and utter scam. Really annoyed that HUKD keep partnering with these con artists. If the FCA intervention helps clean up this mess, and stops it happening again, then I'd say that's a good thing.


    Please PM me if you need any help chasing this or moving things forward (edited)
    Joey.Bloggsy's avatar
    New deals I can understand but you would have thought that when you had full regulatory status that those deal should still stand because everything was adhered to but I’m guessing there’s some geeky small print that says you can’t do that … annoying.
  10. MotiVater's avatar
    Can anyone recommend a forum or similar site that posts/discusses hot lease deals in the meantime? I am in the market (and also have one to share) and could use the sanity check!
    ithinkin's avatar
    Have you found one?
  11. italondonistaavataurino's avatar
    Dan I just posted in a discussion under "ASK" section about the differences between PayPal Credit and Credit cards,in terms of consumer protection,since I will buy a 2K laptop soon. No deals or links were involved,purely asked about the methods of payments..how come HUKD moderators deleted my post?!?
  12. Deedie's avatar
    i hope they do.

    i have been waiting patiently for the next drop.
  13. GlitchFace's avatar
    The lease police

    Last time I looked I was an adult who could make financial decisions on my own. (edited)
  14. dré.'s avatar
    Can someone explain how existing amex account retailer offers fall foul of these new rules?
  15. Nikita_Percival's avatar
    So we can’t even discuss insurances to help others. I’m sorry but this does seem ridiculous, I’ve just had a discussion pulled asking for guidance about pet insurance (edited)
    dré.'s avatar
    ?? I really would like these new "rules" to be explained
  16. groenleader's avatar
    Woo! This is good, to much miss-info on these posts leading people to make a possible ill informed choice. (edited)
  17. hotyoda's avatar
    Wow…all these years and I didn’t know this was a thing!   I’m sorry I just don’t get why we can’t even discuss legitimate deals.  I have just had a pretty innocuous Very discussion thread deleted.  I wasjust asking for advice on how it works. :/

    Dan, so this was a temporary thing…when can we expect free speech to be resumed? 
    Dan's avatar
    Author
    I'm afraid it's not about free speech - we would love these deals to be allowable. UK law and specifically financial services regulations mean that if we publish these deals without being regulated, criminal proceedings could be taken against staff...!

    We are working as fast as we can to sort it out, but it's not in our control, we need to wait for the FCA to make a decision
  18. tonyawesome69's avatar
    Any update on this? (edited)
  19. cache's avatar
    any news on this returning?
  20. Vic_Thaking's avatar
    I think the term temporary has been stretched a bit here! Bring back the deals!!
  21. nidgesy's avatar
    The discussion on the natwest/aig/amazon voucher had useful info in
  22. Dan's avatar
    Author
    y
    Brian_14/02/2022 12:48

    I wondered where all the £100 amazon voucher deals for taking out life …I wondered where all the £100 amazon voucher deals for taking out life insurance had gone. Assume this is for the same reason?

    yep, that's right

    nidgesy14/02/2022 15:11

    The discussion on the natwest/aig/amazon voucher had useful info in


    Sorry about this - we agree it is frustrating. If there is any specific customer service type info you are after, let me know and i can see if it can be dug out (edited)
  23. beergut's avatar
    I guess that explains where the late 2021 Curve card deal for £15 credit has disappeared to. I opened an account for the first time to get the bonus but I should have listened to people in the previous Curve thread. Again Curve have not automatically paid out and they have closed my chat saying they "don't have enough info" regarding the promo codes and they'll get back to me. Total and utter scam. Really annoyed that HUKD keep partnering with these con artists. If the FCA intervention helps clean up this mess, and stops it happening again, then I'd say that's a good thing.
  24. edhjedwdwg's avatar
    ok.
  25. BigStart's avatar
    That’s annoying I had no idea !!

    Where is the best place to view these offers that no longer exist on here
  26. Arkadiusz_D's avatar
    any one still have copy or any info where i can find about £100 amazon for insurance ?. I took it and now dont remember nothing how claim etc..
    ??
    jonagon's avatar
    I am in that boat. Began on 5th Feb, so before the cut-off for the £100 voucher.

    IIRC you needed to wait 6 months (ie August, now) and then we would automatically get the voucher.

    It's a real pity we can't all collectively update that thread with our progress.
  27. gt94sss2's avatar
    I just had a deal rejected under this - it was for a savings account?
  28. emoji47's avatar
    gt94sss228/04/2022 10:43

    I just had a deal rejected under this - it was for a savings account?


    Was it for a savings account?
  29. Ashe's avatar
    porterfinch30/04/2022 17:37

    Comment deleted


    Unfortunately that references terms applying from 5 April 2022, whereas the quoted post was from 30 March.
  30. 123shop's avatar
    Tried to post a deal to get £150 from first direct if you switch. If I post it without the overdraft would it get accepted?
  31. Luckyfrog's avatar
    Wow just had a very deal removed because of this prices higher than very after credit are getting over 1000 heat so sucks I can't post it for less
  32. Anon32's avatar
    Agreed. You were just posting unregulated deals and people such as chanchi were terrible. Recommend stuff so you get your clickbate. Plus the most ill informed comments I’ve ever seen. The FCA is cracking down on websites like this and that’s no surprise tbh.
    AgaPL's avatar
    Honest question. Why was it bad? Im just curious because i git Volvo v90 on lease from one of his deals and i am kind of happy with what i got. Just not sure how to judge if a deal is good and here at least i had a court of public opinion if you know what i mean.
  33. newbie68's avatar
    Come on guys - it's clearly a legal matter that they can't do anything about (at this time) - no point in expressing frustration to them. I'm disappointed also - I used and loved the leasing deals more than the rest, but having the scrutiny from members on any of them was a resource worth a lot. Now we have lost that - sad times
  34. alexma's avatar
    Come on guys - i just spent 20 minutes posting the 150k avios sign up bonusfor Barclays and got removed.

    The FCA legal requirement is so simple!!! You just need to post the key facts, that's it.

    Example
    Key facts: £20 per month annual fee, added to your monthly statement
    The representative APR is 72.4% variable based on a notional £1200 credit limit. The representative APR on purchases is 23.9% variable.
    Dan's avatar
    Author
    i wish that was true - unfortunately we need to be regulated by the FCA, and that application process takes time. Sorry about your wasted time
  35. mkaras1980's avatar
    Hi Dan,

    Are there any news?
  36. adam.mt's avatar
    What!? I tried to warn people not to mention credit discounts on a deal I posted, and even that got removed! Seems a little heavy-handed, no? (edited)
  37. pookey1's avatar
    I didn't realise this was a thing.
    Just curious, there were saving account offers a while back but they've been removed.
    Is
    If it's allowed can you let me know / recommend any sites to look at for savings please? I use MSE but any others would be great.

    Thanks
  38. hamsterboy's avatar
    hotukdeals.com/dea…945
    What rule does that break?

    I don't recall an offer of an overdraft. Or credit. It's not a savings account? (edited)
  39. savedbythelamb's avatar
    Aha, so that's why that section dissappeared.
's avatar