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  • FIRST POST
    • philip1427
    • By philip1427 14th Sep 17, 3:11 PM
    • 93Posts
    • 14Thanks
    philip1427
    Uni fees on credit card?
    • #1
    • 14th Sep 17, 3:11 PM
    Uni fees on credit card? 14th Sep 17 at 3:11 PM
    Hi there I want to pay my uni fees with some sort of reward/cashback card totalling £4030. I originally wanted to use my BA Amex which has a limit of £6000 however my university does not accept Amex. As an alternative I am thinking about using my Nationwide Select which gives 0.5% cash back however this card as an abysmal limit of £1000. I rang Nationwide and they said if I "pre-load" my card the cash back will only be credited up to £1000.

    However would there be an issue of putting multiple £1000 charges on the card and paying them off in turn immediately to allow cash back to be credited on all the fees?
Page 1
    • shiny76
    • By shiny76 14th Sep 17, 3:18 PM
    • 413 Posts
    • 443 Thanks
    shiny76
    • #2
    • 14th Sep 17, 3:18 PM
    • #2
    • 14th Sep 17, 3:18 PM
    However would there be an issue of putting multiple £1000 charges on the card and paying them off in turn immediately to allow cash back to be credited on all the fees?
    Originally posted by philip1427
    Presumably the cashback is awarded on the statement amount. So you'd need to be able to spread the payments over 4 months.

    IF the university are happy for you to do so then it should work!
    • philip1427
    • By philip1427 14th Sep 17, 3:21 PM
    • 93 Posts
    • 14 Thanks
    philip1427
    • #3
    • 14th Sep 17, 3:21 PM
    • #3
    • 14th Sep 17, 3:21 PM
    Presumably the cashback is awarded on the statement amount. So you'd need to be able to spread the payments over 4 months.

    IF the university are happy for you to do so then it should work!
    Originally posted by shiny76
    Could I not do this over four days by immediately paying off my balance to allow access to my full credit limit again?
    • tastyhog
    • By tastyhog 14th Sep 17, 5:53 PM
    • 144 Posts
    • 217 Thanks
    tastyhog
    • #4
    • 14th Sep 17, 5:53 PM
    • #4
    • 14th Sep 17, 5:53 PM
    Could I not do this over four days by immediately paying off my balance to allow access to my full credit limit again?
    Originally posted by philip1427
    I fail to see what you are trying to achieve.

    do you have the cash to pay off multiple £1000 payments on the credit card? if you do why all the cloak and dagger stuff to get £20 cashback in the credit card.

    if not do you have 0% fees and interest on balance transfers on the amex card? if not the interest and fees on 4k will be a killer
    • philip1427
    • By philip1427 14th Sep 17, 9:32 PM
    • 93 Posts
    • 14 Thanks
    philip1427
    • #5
    • 14th Sep 17, 9:32 PM
    • #5
    • 14th Sep 17, 9:32 PM
    I'm trying to achieve some cashback on a large purchase. Of course I can pay it off. If I couldn't I would be using student finance.
    20 quid is 20 quid, eh?

    PS I don't think Amex does 0% finance
    • Sooler
    • By Sooler 14th Sep 17, 11:57 PM
    • 2,878 Posts
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    Sooler
    • #6
    • 14th Sep 17, 11:57 PM
    • #6
    • 14th Sep 17, 11:57 PM
    Try hagling, see if the Uni will take 4K cash
    • philip1427
    • By philip1427 15th Sep 17, 9:23 AM
    • 93 Posts
    • 14 Thanks
    philip1427
    • #7
    • 15th Sep 17, 9:23 AM
    • #7
    • 15th Sep 17, 9:23 AM
    I wish lol
    • shiny76
    • By shiny76 15th Sep 17, 12:12 PM
    • 413 Posts
    • 443 Thanks
    shiny76
    • #8
    • 15th Sep 17, 12:12 PM
    • #8
    • 15th Sep 17, 12:12 PM
    Could I not do this over four days by immediately paying off my balance to allow access to my full credit limit again?
    Originally posted by philip1427
    From this link, It would appear to be awarded on purchases. In which case doing it over x days and paying off in between should work - assuming Nationwide counted the transaction as a purchase.

    I say x days as it pay take more than 1 day to for each transaction (debit and credit) to hit your account.
    • philip1427
    • By philip1427 15th Sep 17, 1:46 PM
    • 93 Posts
    • 14 Thanks
    philip1427
    • #9
    • 15th Sep 17, 1:46 PM
    • #9
    • 15th Sep 17, 1:46 PM
    Thanks for all the replies. In case anyone else is in this situation, I rang Nationwide this morning. They stated that cashback is only paid up to the credit limit per month. Therefore I can only gain cashback on £1500 of my purchase. I hope this helps anyone else trying to 'work the system'

    I have currently maxed out my credit card which I intend to pay off in full straight away when the charge hits my account. Hopefully this will spur Nationwide on to offer me a credit limit increase.
    • The Urbanite
    • By The Urbanite 18th Sep 17, 8:43 PM
    • 106 Posts
    • 44 Thanks
    The Urbanite
    I'm trying to achieve some cashback on a large purchase. Of course I can pay it off. If I couldn't I would be using student finance.
    20 quid is 20 quid, eh?

    PS I don't think Amex does 0% finance
    Originally posted by philip1427
    They do - https://www.americanexpress.com/uk/credit-cards/rewards-purchases-credit-card/
    • realaledrinker
    • By realaledrinker 19th Sep 17, 1:28 PM
    • 1,518 Posts
    • 502 Thanks
    realaledrinker
    Will your uni offer a discount for payment in full up front maybe? Southampton Uni offer 1% for example.
    Ethical moneysaver
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