Credit card with rewards

aniviel · 6 August 2017 at 5:05PM

Hello again everyone and big thanks to those who helped me in the Savings forum though I'm still clueless I won't lie

I have one bank account (first direct) and their Visa debit card. That's all. To be fair I have almost no money at all at the moment so I'm glad I got that!

However my incredible dad recently passed away (ironically, he was a hugely successful tax lawyer.. I say ironically because as this message proves - I don't understand finances at all*). He lived in another country (I moved to the UK not so long ago)... and it seems I stand to inherit a large sum of money.
While I intend to keep most of it in that country (at least until the Pound gets s a grip on itself). I will also transfer quite a bit here since I need to renovate slightly and I also just want to be in a secure position.

That said I've only been visiting my family abroad once a year so far because it's an expensive route (around £600 return.. only 3 companies fly that route - easyJet, British Airways and the local airline which I hate).

I'd like to go visit them more and I thought perhaps getting the British Airways American Express credit card would be a good option?

I know virtually NOTHING when it comes to the differences between using a debit or a credit card.. other than that credit goes once a month while debit goes straight away. But if I'm making sure I'm never reaching overdraft - what then?
Is it worth it?

* I am really trying yet still very much struggling to learn, please be gentle

Ben8282 · 6 August 2017 at 8:50PM

As you clearly state in your other thread that you are jobless and very poor, unfortunately the chances of your being accepted for any credit card at all, let alone the BA Amex or other rewards card, are very slim.
Unfortunately, the deposit of £100K into your bank account (see other thread) will not resolve this problem as credit card applications ask only about employment and income, not savings and savings are not taken into account.
When you do get another job and have some income, try your own bank first. Failing that, try one of the credit builder cards. The MSN eligibility checker will help.
The lack of any credit card history will also make things more difficult for you.

aniviel · 6 August 2017 at 9:23PM

I actually already got a new job and starting next month

aniviel · 6 August 2017 at 9:38PM

To clarify -
I'm starting a part time job in September. I might settle with that one for a bit since I'm no longer worried about finances and I want to study next year. The pay is good - for a part time job.
The 100k I'll have in the bank is just the sum I'm transferring here for now. It's less than half.. I don't know if that matters in this case.

In any case, I just checked the calculator here and apparently 90% I'll be eligible for the BA Amex (even the Platinum one. But that one costs £195 a year so I must wonder if it's worth it).
I think much of it is due to the fact I'm a homeowner with no rent nor mortgage. No dependents either.

So if I am eligible - Is the BA Amex recommended? Is the £195 for Platinum worth it?
I use my card a lot (mainly on small things). I plan renovations so that will be a large sum and not just to my home country but generally - I'd like to travel more...

MallyGirl · 6 August 2017 at 10:03PM

Will you be able to pay for much of your renovations by credit card?

Ben8282 · 6 August 2017 at 10:18PM

If you have been given a 90% chance then apply. Just don't lie about length of employment, income etc because the result of that will more likely be a CIFAS marker than a new credit card.

zerog · 7 August 2017 at 1:50PM

If you consider a £600 flight to be expensive, then why would you pay £195 for a credit card?

I spend about £600 a month on flights but even I don't think the BAPP card is worth it. It is mainly worthwhile if you have a travel companion to share the 2-4-1 voucher in First Class, for which you need to spend £10000 a year and also have a way of earning 200000 avios per year.

There is a free BA Amex but again do you have any use for Avios points?

You may be better off getting a card which pays cashback in ££.

aniviel · 7 August 2017 at 6:07PM

Mally, the furniture and such - yes.

Ben, I wouldn't lie when it comes to finances I assure you.

zerog, as started - I had no job and no money so £600 was very expensive for me. Now I'm starting a job and I'm inheriting money. There's nothing I want to use it more than for travel to see my family and travel for leisure. They'll definitely be put to use if earning that many is possible. Some bloggers claim it's easy and you claim it's not worth it, so I'm just looking for different views.

bigadaj · 7 August 2017 at 7:18PM

aniviel wrote: »

Mally, the furniture and such - yes.

Ben, I wouldn't lie when it comes to finances I assure you.

zerog, as started - I had no job and no money so £600 was very expensive for me. Now I'm starting a job and I'm inheriting money. There's nothing I want to use it more than for travel to see my family and travel for leisure. They'll definitely be put to use if earning that many is possible. Some bloggers claim it's easy and you claim it's not worth it, so I'm just looking for different views.

Reward flights are normally limited and you'd need to book several months in advance in many cases. Their main use is to get a higher class of travel, so upgrades to premium or business, but you still have to pay the majority of taxes so don't save much in economy fares.

You state that the country costs £600 for flights but easy jet fly there which limits possibilities but also means options for saving much money are likely to be fairly rare.

msallen · 8 August 2017 at 9:56AM

You don't state where your country of origin is, but if it is in Europe (or more accurately within the area that BA allow "Reward Flight Saver" Avios redemptions), then you may well find some value in either the (free) BA Amex or the Lloyds Avios card, but if it's outside Europe then as bigadj states the only real value in Avios is for premium long haul flights. If you do use them for premium long haul flights, and have a travel companion, then the Premium BA Amex is probably worth the fee.

aniviel · 8 August 2017 at 1:41PM

Thanks guys.
Home country is Israel so outside the EU.

I'll look into that Lloyds card too if I'm eligible.
I know that once the money comes in I'll be spending a lot on travel. I'm on my own and intend to stay that way (no companion for now. Unless a friend fancies joining). I'm not a kid and always lived on a budget. Don't intend to waste everything but travel is definitely up there for me.. it was an important thing for my dad too, so it's a way to honour him. I may as well get something out of whatever goes

Credit card with rewards

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free