London Underground (Tube Oyster) Annual Travel Card including Annual Gold Card ON Monthly Payments - Cancel when you want - £10 discount to begin with (Effectively £150+ Discount & Monthly Payments) Metro reader offer
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London Underground (Tube Oyster) Annual Travel Card including Annual Gold Card ON Monthly Payments - Cancel when you want - £10 discount to begin with (Effectively £150+ Discount & Monthly Payments) Metro reader offer

30
Found 27th Oct 2014
Working at mayfair, i cannot be thankful enough for this find, just thought of sharing this with all of you working in london and taking tube

London Underground Annual Travel Card including Annual Gold Card with Monthly Payments - Cancel when you want - £10 discount to being with (Effectively £150+ Discount & Monthly Payments)

So annual travel card prices and monthly payments compared as given below:
Examples

Zone 1-2 Annual Card = £1256 (Com Club Savings - £161)
Zone 1-3 Annual Card = £1472 (Com Club Savings - £188)
Zone 1-4 Annual Card = £1800 (Com Club Savings - £231)
Zone 1-5 Annual Card = £2136 (Com Club Savings - £273)
Zone 1-6 Annual Card = £2288 (Com Club Savings - £293)
Zone 1-7 Annual Card = £2488 (Com Club Savings - £319)
Zone 1-8 Annual Card = £2936 (Com Club Savings - £376)
Zone 1-9 Annual Card = £3256 (Com Club Savings - £417)

IN addition to the above you also get the following:
-Free Annual Gold Card 33% Discount throughout UK on National Rail Travel

-Price Lock from the Fare increase in 2015

-Cancel online anytime

30 Comments

Hardly a penny is it! You need to change your price me thinks

Original Poster

Red Devil PJB

Hardly a penny is it! You need to change your price me thinks



I put it up at a penny only because the price varies between zones and selecting one price would be misleading for people from other zones.

So it's a loan for an annual ticket bundled with the supply of the ticket. Right?

santhoshmetri

I put it up at a penny only because the price varies between zones and … I put it up at a penny only because the price varies between zones and selecting one price would be misleading for people from other zones.



I'd have put the minimum and explained in the post. No biggie, was just saying

Isnt this just the same as buying an annual pass but using a season ticket loan and paying it back each month?

The actual savings identified are the savings you make from TFL if you pay for an annual rather than say a weekly or monthly pass for a year which will obviously cost more.

If you can cancel at any point then its a good deal but not really a saving for annual pass payers.

If anyone does know how to get money off annual passes it would be great.

Original Poster

michaelielliott

You also seemingly pay interest on this so the prices quoted above are … You also seemingly pay interest on this so the prices quoted above are not representative (Z1-4 being £1901 after interest)Rather, check if your employer does a season ticket loan scheme first and buy it this way. You aren't getting any greater discount through commuter club than the tenner offered through Metro. And your employer won't charge you interest on the loan.



I guess with this its not about discount - normally you would have to pay all at one shot to get 2 months free - but through commuter club although you pay monthly you get one month free in effect and also you get the annual gold card for discounts, lock the price for 12 months - Of course if your employer offers travelcard benefit that saves tax as well and is anytime the best option. But, most (80%) of the london employers do not offer this benefit

Very confusing post. I think the op should give a clear explanation what this is about and then it may get some heat.
Edited by: "teerex" 27th Oct 2014

Cold too expensive use the bus


Am I taking out a loan?
Yes. CommuterClub is a lender Authorised and Regulated by the Financial Conduct Authority (Permission Number 659398) that provides credit solely for the purchase of Annual Travelcards. Like any loan you will need to sign a Credit Agreement with us before we can issue you with a loan for your Oystercard.
A Commuterclub loan is secured on the Oystercard refund value. This allows you to benefit from the savings of an Annual Travelcard while paying for it monthly at a low interest rate. Like all secured lending, if you fail to make payment, as a last resort we can cancel your Oystercard and reclaim the remaining value. This could also negatively affect your credit score.


You would be better off just getting a 0% credit card for a year and paying it off every month. If you wanted to cancel you'd get the balance back to pay off the card.
Edited by: "timber4483" 27th Oct 2014

I'll just take a Uber

How does this company make money?

dnc316

How does this company make money?



If you care to google, they basically set up a loan on your behalf at 5.6%. An annual travel pass is like paying for 10 months of the year. If you take your 5 - 6 weeks of holidays then their 5.6% it actually works out more expensive.

As said, great idea to make a few quid for those who can't be bothered getting a zero percent purchase credit card.

argosextra

Cold too expensive use the bus

why not to take a walk? Its free

"-Free Annual Gold Card 33% Discount throughout UK on National Rail Travel"

This isn't true. You only get 33% discount on tickets in South East England (Network Railcard area), and restrictions apply.

Handy deal if your employer doesn't offer a free season ticket loan, but you'd be much better off buying it on a 0% (for spend) credit card if you can get one.

teerex

Very confusing post. I think the op should give a clear explanation what … Very confusing post. I think the op should give a clear explanation what this is about and then it may get some heat.


Agreed. OP if you care to explain what this deal is, it would definitely help.

As Netjock has pointed out above, when you add the interest payments and holiday/sickness (i.e times you wouldn't be travelling) the benefits of this over a monthly or weekly are lost.

Also worth pointing out that if you cancel, the refund is worked out using the average cost of either a weekly or monthly (depending when you cancel), whilst you wont have to pay anything back the way the loan is structured means that you would in essence be paying interest on a weekly/monthly that you wouldn't had you simply bought a weekly/monthly from the start.

Not a bad deal, and it is a reasonable interest rate but that interest really reduces the value of a yearly ticket.

Guys think about it you will take a month off a year just for annual leave, what about sickness or people that have the odd day to work from home.

Its a good offer for specific people e.g. if you go in to work atleast 5 times a week for 52 weeks.

For example, if you buy a Zone 1 to 4 travelcard, it is currently priced at £1800 on TFl website.
With commuter club, you need to pay £173 for 11 months + 1 month free = £1903
Which is still costlier than £1800.

With the Metro offer you save £10 more
So total extra price (interest) to pay for using Commuter club = £1903-10-1800 = £93

Bum deal.

rodman

why not to take a walk? Its free



Walking wastes expensive shoe leather. The most economical method of transportation is to purchase a very cheap old bicycle (max ten pounds is usually enough) and cycle barefoot.

The Annual Gold Card only gives you a discount in the SE no?

use this code while joining with commuter club U8K9YJ83 to get £10 discount!

use this code while joining with commuter club U8K9YJ83 to get £10 discount!

rodman

why not to take a walk? Its free





I drive but it's more about having the energy and you can't walk you need to travel with tube or bus and buses are cheaper so stupid question

My annual 1-3 cost would be £1,472.00 if I could afford a season ticket
As I pay monthly (£141.40) it costs me £1,696.80

This deal would cost me £1,472.00 per year so there is a saving of £224.80 (versus currently paying monthly which is not to be sniffed at.

Gold Card 33% Discount is not going to benefit me much but would not hurt to have it.

davidbrent

Walking wastes expensive shoe leather. The most economical method of … Walking wastes expensive shoe leather. The most economical method of transportation is to purchase a very cheap old bicycle (max ten pounds is usually enough) and cycle barefoot.



Walk barefooted then.

Original Poster

bluenewt

The Annual Gold Card only gives you a discount in the SE no?



Gold card gives you discount on the entire british rail network unlike network railcard which is for the south east. Cheers!

The Gold Card isn't a discount across all of National Rail.
nationalrail.co.uk/tim…spx

As well as being an Annual Season ticket, you also get a range of discount benefits, including discounts on other leisure rail journeys in the Network Railcard Area for yourself and others.
Annual Season tickets and Annual Travelcards are issued as Annual Gold Cards when:
the origin station is within the area, or
the issuing station and either the origin station, destination station or both are within the area.
A Gold Record Card will be issued if your Annual Travelcard is on an Oyster card.

Is this tube only?

santhoshmetri

I guess with this its not about discount - normally you would have to pay … I guess with this its not about discount - normally you would have to pay all at one shot to get 2 months free - but through commuter club although you pay monthly you get one month free in effect and also you get the annual gold card for discounts, lock the price for 12 months - Of course if your employer offers travelcard benefit that saves tax as well and is anytime the best option. But, most (80%) of the london employers do not offer this benefit



Not an allowable tax deduction.
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