Hi,
I'm searching for, as most would, the best credit card for personal use given my criterion. I would pay off the balance on time each month in full, I earn roughly 120K pa, cashback would be nice, roughly 2000 is spent a month on the card. Until now I have had a MasterCard form NatWest, it works more as a chargecard, where my final balance each month is taken directly from my current account.
Any ideas would be fully appreciated, many thanks
Joe
Amex Blue. No fee and 2% cashback for the first 3 months; thereafter 1%. On your spend of 2k a month you'll make 300 a year in cashback.
Another option would be sugn up for a Mint card which does 0% on purchases for 9 months IIRC. Pay the 3% minimum every month, then deposit the 1940 difference in a savings account and collect interest.
Over 9 months you'll accumulate a balance of about 15,500 after allowing for paying 3% of the increasing balance. The interest will be 4.5/12 x 4% x
0.60 = 140. And I think you also get 0.5% cashback.
How about:
Amex Blue for 1st 3 months: 6K earns 120 cashback @ 2%
Upgrade to amex platinum after 3 months:
Month 4: 2K earns 10 cashback @ 0.5%
Months 5-12 16k earns 50 cashback @ 1% on next 5k then 2% on next 11k = 220
Total cashback = 400
Hi both,
Thanks ever so much. I must add the card would not be for my use but for a friend, I will pass on the information.
Much appreciated, Joe
I must say you earn rather a lot for somebody still at uni. I take it you dont work in the student bar?
It could be possible, but not with me I'm afraid. As I said moments before you posted it's for my Dad.
The catch with the above idea is that Amex will not let you have two cards and if you "upgrade" to a platinum as described you lose the cashback you accumulated on the Blue!
Unless they've changed the rules quite recently I don't think the above will work.
The web page i saw said the eligable spend gets transferred if you switch from blue to platinum.
Mind you, If I were spending 24k per year I would not bother with blue at all, just go straight for the platinum as it still comes to 400 per year!
Without a hint of irony, "Adrian Boliston" astounded uk.finance on 14 Apr 2004 by announcing:
That's incorrect, BTW. It's 1% on 2k-5k, not on the next 5k. Add another
20 to that figure.Without a hint of irony, "Adrian Boliston" astounded uk.finance on 16 Apr 2004 by announcing:
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