Cashback or 0% with offset mortgage

gejones02

As I have an offset mortgage, I would like to be able to work out if I would benefit from having a 0% on spending credit card paying off the minimum each month and offsetting the balance of the card bill for the period of 0% deal, rather than having a cashback card.

I currently have an amex platinum and have just inched my way into the 1.5% cashback range. My average spend on the card is £2000 per month which is paid off in full each month.

Does anyone know how I can work out the figures for mortgage interest I would save, or worked this out for themselves and drawn conclusions as to which is the best option.

Thanks

YorkshireBoy

Cashback calculator

Slow-stooz calculator


However, you'd probably get a far better return with 'fast-stoozing'. The above site's guides (on the homepage) will explain the concept.

Fast-stoozing is also covered in this MSE article...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

gejones02

Thanks YorkshireBoy

I have looked at the stoozing and as much as I love the idea, I wouldn't like to kid myself that I have the discipline to carry it off!