credit card offers

Jim · 2004-07-08T11:00:56+00:00

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 2. 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

Jul 08, 2004 25 Replies

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Alex 22 years ago

Without a hint of irony, "Jane Tweedynn" astounded uk.finance on 09 Jul 2004 by announcing:

Because one generally has a maximum credit limit.

Not really. Spending 1000 a month on my Amex would get me up to 20 per month cashback. If I did the same on a 0% card, I'd still have to pay the

1000 back each month (due to having reached my credit limit on prior balance transfers and purchases) and not get any cashback.

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Alex 22 years ago

Without a hint of irony, Alan astounded uk.finance on 09 Jul 2004 by announcing:

These offers are almost certainly from a finance company which pay the retailer commission on the finance sale. There's no need for them to 'cover the cost' as they get all the money up front plus the commission.

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Alan 22 years ago

In message , Alex wrote

So everyone, including the customer wins - i don't think so.

The cost of the deal from either the retailer or the finance company is built into the original selling price. The retailer may accept 30 percent less than the ticket price to get immediate access to the cash but he will have increased the ticket price by more than that to cover this shortfall.

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Alex 22 years ago

Without a hint of irony, Alan astounded uk.finance on 11 Jul 2004 by announcing:

The finance company is the one who loses out if the customer pays the balance in full at the end of the promotional period, in exactly the same way that CC companies lose out on each customer who pays their balance off at the end of the 0% period.

Sure, retailers may increase their prices to cover any charges they pay but since they're raised anyway then customers 'lose out' as a whole, not just because they take the finance deal.

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