THE EASY WAY: All the Forum's best tips go in MoneySavingExpert's weekly E-mail Plus you'll get all the new guides, deals and loopholes. It's free & spam free
IMPORTANT! This forum isn't moderated. If you spot a spam, illegal, offensive, racist, libellous post or PM please email abuse@moneysavingexpert.com
Remember, this is an open forum! Anyone can post so always exercise caution when acting on info. Don't post links for personal gain. Except in the referrers section and always declare any interest.
To discuss or ask a question about this article: click reply
MSE Senior Researcher, mainly responsible for looking after, and keeping up-to-date, ‘hard-core’ financial articles such as credit cards, savings and loans.
If you spot a rate change that we haven't already mentioned or added into articles or tips, Please send me a PM about it
The "Quick Stats" footnote for Amex Platinum on Martin's "Cashback Credit Cards" page will need to be amended. Ditto the "How much will I earn with Amex Platinum?" calculator.
From 1st November 2008, it looks as though changes to the T&C will mean that no cashback will be paid if the annual spend falls below £2,400, although new customers need only spend as little as £240 in the year to qualify, provided they do it within the promotional 3-month period.
See amended Terms & Conditions, [new] item 17.3.5
"No rebate payment will be made if, in the 12 months preceding your Card Anniversary Date, the amount of rebate earned totals less than £12."
MSE site's text will need to read:
Quick Stats: Intro Cashback. 5% for 3 months on up to £4,000. Standard Cashback. 0% below £2,400/year. 0.5% on £2,400 to £3,500/year, 1% on £3,500 to £10k/year and 1.5% above that. Min. Salary Requirement: £20,000 Maximum cashback/year: NO MAXIMUM
Eking out the cards we are dealt
The Following User Says Thank You to eker For This Useful Post:Show me >>
eker - you still get the rebate for all the money from 0 to £3500 but only if you spend >£2400, or more accurately you generate >=£12 of cashback. So they should just add at end 'No cashback if rebate < £12' or something to that effect.
You're right - the 0.5% rate applies to the whole range of £0 to £3,500 but only if the spend reaches £2,400 (existing customers); below that, the rate is 0%.
I agree with your suggested amendment - forget mine!
I've currently got a Barclarcard which doesn't give me any cashback, but I have been using for most purchases, then I pay this in full every month. I've also got a 0% interest card which expires in February 2009.
If I apply for an Amex Platinum 5% cashback card, then again for a 0% interest card in the next few months, will this effect my credit rating?
Hi. New to this lark, so please be kind!
Has anyone had an Amex 5% cashback card for a year, pocketed the cashback, cancelled the card and then successfully applied again for a new 5% cashback card?
You don't seem to be able to navigate to this version of the card anymore, but you can seem to be able to apply for this card by using the direct link.
Today I phoned up about this card for 2 reasons
1. I already have a BOS card
2. The card is not avaiable online (without the direct link)
The answer to 1. was different to what I had stated earlier on the old cashback card thread in that you can hold up to 5 Halifax/BOS credit cards at one time as long as they are different types of card, i.e 1 cachback card, 1 balance transfer card, etc, and you cannot balance transfer between them either.
He did not have an answer to 2, as the 2% card is an online only application, but he tried out the link and said it would seem you can still apply for that.
So my question is - Has anyone recently successfully applied for this card by using the direct link? I do not want to use a credit search unneccesarily.
BTW YorkshireBoy, thanks for pointing me in the right direction regarding transferring MBNA credit limits. Just opened up a Virgin card and transferred all but £500 credit limit from the old MBNA card to the new Virgin card.
The Following User Says Thank You to JesseJames For This Useful Post:Show me >>
I am thinking of getting the AMEX card now in the run up to Christmas and doing all of my normal spending on it, as well as xmas expenses (paying off in full each month of course!)
A few questions given my situation which is - single, 24, no mortgage, no CCs, paying off student loan through salary, have accessed one credit report which says my bank accounts and mobile phone contract are satisfactory, there doesn't seem to be anything else amiss on there. I also earn a few hundred over to minimum £20k wage, although i think this says household income and as I live with parents, would this be combined anyway (?)
-Is this a good choice of first credit card, which will hopefully improve my credit rating and make me a bit of cash over xmas?
-How likely is it that my application will be accepted? I have recently had a search on file from opening new current account which has a small £400 overdraft which I don't need, but is 0% so may come in handy.
- I am awaiting application forms in the post for new ISA from Natwest, and will also be required to open another account to bounce any overpayments of ISA into, will these require credit checks, and if so is it worth holding off the CC application?
-I'm not a huge spender, being a keen money saver! My average monthly spend on this card is likely to be £200-250, mostly made up of petrol, but of course this will be more leading up to xmas, but is it still as good a card as any to start on?
- If I do go for this one, is there some kind of cash back site I can click through to get some cash from that too? I don't use these at the moment but might start and would like to know the best site to do this with.
Sorry about the multitude of questions!!
Hope somebody can help, I'm desperately trying to combat my ignorance and apathy which makes other people so much money, and none for me!
You don't seem to be able to navigate to this version of the card anymore, but you can seem to be able to apply for this card by using the direct link.
Today I phoned up about this card for 2 reasons
1. I already have a BOS card
2. The card is not avaiable online (without the direct link)
The answer to 1. was different to what I had stated earlier on the old cashback card thread in that you can hold up to 5 Halifax/BOS credit cards at one time as long as they are different types of card, i.e 1 cachback card, 1 balance transfer card, etc, and you cannot balance transfer between them either.
He did not have an answer to 2, as the 2% card is an online only application, but he tried out the link and said it would seem you can still apply for that.
So my question is - Has anyone recently successfully applied for this card by using the direct link? I do not want to use a credit search unneccesarily.
BTW YorkshireBoy, thanks for pointing me in the right direction regarding transferring MBNA credit limits. Just opened up a Virgin card and transferred all but £500 credit limit from the old MBNA card to the new Virgin card.
I didn't know about this 2% cashback credit card, so many thanks for pointing it out to me. I applied on line this morning (Sat) at 8 o'clock in the morning and had no problems with the link at all.
Good luck.
Last edited by hillybilly22; 27-09-2008 at 8:28 AM..
The Following User Says Thank You to hillybilly22 For This Useful Post:Show me >>
I didn't know about this 2% cashback credit card, so many thanks for pointing it out to me. I applied on line this morning (Sat) at 8 o'clock in the morning and had no problems with the link at all.
Good luck.
Glad it was of help to you.
Did you get confirmation of your application, and did you get a decision on your application straight away?
I was looking at the Shell card, earlier today, I use Shell 80% of the time, so would be great for me, and was thinking of applying - 6% is a lot off a £50 tank...
... but my brother wants me to be recommended by him because he believes there will be something in it for him, is this true? - I can't find anything about it on the Shell / Citibank site
I understand that the AMEX card gives you 5% cashback on purchases up to £4000 for the first three months, which is £200, correct?
If I use Martin's calculator and input a £4000 annual spend, the cashback comes to only £67.50. Am I missing something here
Hi MSE's
I feel we are missing out on rewards- as Sainsbury's is our closest supermarket by far and we spend £150 per week on a bog standard CC
Question -how does the Sainsbury's CC compare to the best?
Here is the spiel - but are nectar points really worth the effort!
-- Sainsbury's new credit card offers you all this:
Great rates on purchases and balance transfers:
0% for the first 12 months on Sainsbury's shopping*
0% for the first 3 months on all other shopping
0% for the first 10 months on balance transfers (+3% fee)
Earn Nectar points wherever you shop:
Pay with your Sainsbury's Credit Card and collect 2 points for every £1 you spend on Sainsbury's shopping, plus any additional points you'll earn with your Nectar collector card.
Collect Nectar points everywhere else too
I understand that the AMEX card gives you 5% cashback on purchases up to £4000 for the first three months, which is £200, correct?
If I use Martin's calculator and input a £4000 annual spend, the cashback comes to only £67.50. Am I missing something here
The calculator asks for the annual amount, but the promotional rate of 5% only lasts for 3 months, so the calculator assumes £4000 / 4 = £1000 per quarter.
On this basis, you would get 5% of £1000 in the first quarter = £50
For the remaining three quarters, you'd be on tiered rates.
So for your remaining £3000, the next £2,500 takes you to the first threshold of £3,500, so you get 0.5% of £2,500 = £12.50, then you get 1% on your remaining £500 = £5
£50 + £12.50 + £5 = £67.50.
Of course if you spend all £4000 within the first quarter after joining, you'd get 5% on everything, i.e. £200, as you calculated.
However, the calculator has not yet been updated, as I mentioned earlier, to take account of annual spending below £2,400, which from 1st November 2008, will be zero cashback.
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps. Take care over copyright. Use excerpts and links rather than copying long text. This site asserts copyright on all comments posted on the board.
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.
Top Cashback Cards Discussion Area
From 1st November 2008, it looks as though changes to the T&C will mean that no cashback will be paid if the annual spend falls below £2,400, although new customers need only spend as little as £240 in the year to qualify, provided they do it within the promotional 3-month period.
How does this effect credit rating?
Shell Cash back card
Linear Mode
