credit card offers

Hi, I've just been notified that the 1% cashback from Halifax Visa is to be reduced to 0.25%.

I pay off the balance every month, so am now looking at other possibilities for cash-back cards.

Any comments on:

1. Tesco Visa or Master Card (no fee)

0.5 point per £1 spent = 0.5% cash back, but must be spent in Tesco - not a problem. Upto 56 days to pay

1. American Express - Platinum (no fee) Annual rebate

0.5% to £2000 1% £2001 to £5000 2% above £5000 But how many places accept it ??? Didn't say how long to pay eaah month.

Any comments on these or similar (maybe better) cash back cards. Being able to pay off on-line is important to me.

TIA

Jim

Bitstring , from the wonderful person Jim said

I'm still getting 1% cashback on my Capital One circles card, despite rumours to the contrary, however they are supposed to be hard to acquire now. Amex (or Amex Blue) is OK .. 2% for the first 3 months with Amex Blue, but you'll need another card as well, since as you noted there are a ton of places which don't take Amex (although most garages and large supermarket chains do).

Worth noting the recent change in the Tesco Clubcard scheme, which means that everyone now qualifies for 4 times the value of the Clubcard vouchers on selected offers (days out, holidays, etc).

There is a limited range of offers, and of course for many you would normally be able to get discounts (thus the real value of the Clubcard points would effectively be less than the implied 2%).

However, it would be one of the more rewarding schemes for those people who use one or more of the companies in the reward scheme.

Morethan?

0.8% cashback if you choose the right options.

I use the Tesco scheme to buy ferry vouchers - reduces the cost from 300 to

1. :)

Without a hint of irony, Jim astounded uk.finance on 08 Jul 2004 by announcing:

Where do you normally shop? Most petrol stations, supermarkets, etc. FWIW, I have one of these and only have to use my VISA a couple of times a month (normally around 50 or so).

Payment date's around 3 weeks after the statement date as someone already mentioned.

Accucard (amongst others) offer 0.8% cashback.

In message , Martin Quinlan wrote

Often the 'partners' that card companies use are expensive and therefore in real terms you gain nothing from all the points you collect. Why exchange points for Dixons, M&S, Boots vouchers , etc. when you can obtain the same goods they sell for 20 percent less elsewhere? Vouchers for expensive high street chains are worth nothing!

I too am looking for another credit card being p****d off with Goldfish recently. As I usually pay off the outstanding amount every month the interest on the debt is of little importance to me. I too want the card with the best cash return and I need to be able to manage the account on-line..

In message , Doug Ramage wrote

Which ferry? £75 return appears to be close to the going rate for across the English channel according to reports on the radio today about the price reductions due to competition. You may be better off not believing the crap they claim for the offers in the card advertising and shop around for the best deal instead.

"Alan" wrote

Nationwide Gold Visa still pays 1% for the first 6 months, thereafter 0.5%, and you get ages to pay.

Eg my Amex statement date is around the 10th and they debit me on the 28th. Nationwide statement date is around the 8th and they debit me on the 4th.

You may be correct in respect of the southern crossings - but check out the prices for Stranraer to Larne for a car + passengers.

I had a letter from Capital One a few days ago saying my cashback was being reduced to 0.5%.

Chris

I got a letter a couple of days ago saying it stops in September.

Thom

Bitstring , from the wonderful person Chris Blunt said

If you don't mind telling us, what (roughly) is your monthly spend? Mine must be in the £1-2k region.

Why do people still use cashback cards when there are 9 & 12 month interest free deals on purchases?

Paying the minimum monthly payment and putting the remainder of the monthly balance in a savings account is much better value.

In message , Jane Tweedynn wrote

There is no such thing as a free lunch. If a company is offering interest free and/or no payments for the first year then they have already increased the price of the goods to cover the costs of these offers.

The companies that offer these types of deal also have half price offers soon afterwards - on which they don't make a loss.

Not if you have already paid 20% to 505 more for the goods in the first place.

I use credit cards for a much as my purchasing that I can. A hundred small transactions soon mount up to a sizeable sum on which to get cash-back or other _suitable_ offers.

OK I get 2% cashback on most of my purchases via amex, and the amex balance gets transferred to a 0% card each month and my wages get transferred into my 4.7% ING savings account each month (after leaving enough in my current account to cover my household direct debit bills).

How does your system work better?

Me thinks she was talking about interest free deals on purchases via the credit card, (like that annoying halifax one i keep seeing on on tv)

Well actually at the moment I use a morgan stanley & nationwide cashback card unless I am with my partner when we use an Egg Blue which the 0% on purchases will end in November, until then we have small amounts we can both max our new Barclaycards.

Not nearly as effective as your 2% on cashback then transfer to 0%. However I do have over 20k on 0% which I have in my offset account saving me interest at 5.25% so I don't have any spare 0% credit for purchases. At the moment I am surviving on two new applications a year (another two for partner), hopefully this won't destroy my credit rating.

My comment was a generalisation, which I believe to be true. I don't want to throw figures at it because it all depends on the cards you compare, but I reckon on average your savings (or profit) will be double by using 0% on purchases compared to cashbacks.

Mine has averaged about £250 a month over the two years I've had the card.

I'm not sure if its relevant, but my spending level in the last couple of months has been quite a lot higher than normal.

Chris