Top Cashback Cards Discussion Area

kosial

Hi All,


I am thinking of transfering this months balance form my Amex to the Virgin 16 months 0% card (if I can get one). Then I would still be using the Amex card - it's just that I spent quite a large sum on the Amex to get the cashback.

So.. here is my question - can I do it or will I loose the cashback I already gathered or maybe it doesn't matter?

Has anyone done that?

Thanks for any info.

lisyloo

You get the cashback for spending.
It doesn't matter how you pay off the balance.
You must keep the AMEX card for 12 months though.

weano_2

Despite being accepted straight away for Platinum Amex cashback and having quite a large income, monthly limit has been set at £700 per month and i have been told that I cannot ask for an increase in credit for at least 6 months. As this misses the first three months good cash back rate and I have a monthly spend on credit card of at least £2,000 I'm pretty cheesed off about that :mad:

Kavanne

Amex also initially gave me a limit of £700 but TWO of their telephone people had told me it was £1400. One person, I might forgive, but doing it twice. I appealed and got my limit changed to £1400 (It only took overnight so I think they just listened to my previous calls)

zebedy

before you ditch and switch to a new better cashback deal it's worth speaking to old card companies first.

I have an eggmoney card where I'm getting 1% cashback on all spend.
I had an old Barclaycard which I haven't used for months. I phoned them to cancel it and they have offered me a 6 month deal of 2% cashback on the first £200 per month and 1.5% on the rest each month - which is better than with eggmoney for the next 6 months! Plus free card protection for 1 year.
I've asked for it to be confirmed in writing and the barclaycard will now be by primary card used for the next 6 months - result!

I know Amex is still the best at 5% for 3 months but I've already done that one and should finally get my Amex cashback next month.

So just a reminder to see what other companies can offer to keep your business

weano_2

NickyDee wrote: »

Not really sure how that is a 'loophole', but:

You have every right to appeal against the initial credit decision. This will usually involve going through your monthly income & expenditure with an underwriter at the credit card company. They may also run another 'full' credit check (but they should tell you that before they do it).

Go for it if you think it is worthwhile, I did with Egg and doubled my credit limit.

Thanks for info. the "loophole" was that I feel Amex have found themselves a way out! Took your advice and have just come off the phone with customer services. Got the same "after 6 months" from them but kept pushing. Best I can get so far is to write to head office with a recent bank or credit card statement and see what they say. May try that but don't fancy sending off that kind of info as I am VERY careful about shredding etc :think: :think:

Kavanne

Too bad then, weano. You will have to put up with it. Just to GET my amex card I had to send off last wage slip and 3 months bank statements. They sent them all straight back within 1 week.

chiholam

Weano - don't forget that it's just a credit limit - there's nothing stopping you from paying it off earlier than the interest free period. I'm assuming that you would be paying it all off at the statement date anyway, otherwise you wouldn't be looking for a cashback card anyway.

That's what I did recently (last month) as I've recently bought a house, and been spending on furniture, bathrooms, kitchens etc. Max'ed the card in one (big) transaction alone, and paid it off straight away that night to ensure I would still be able to use the card, and continue to gain cashback.

So, I suppose I am saying that just because it's £700 a month, doesn't mean that you can only spend 3 x £700 in the 3 month cashback period. It does however mean you can't spend more than £700 on a single transaction (without pre-loading first).

Once you've done that a couple of times (paid off mid-month), then you may find that they are more amenable to credit limit increases. Mine certainly was (Barclaycard in this case), as I called them and pointed out that the credit limit that it currently was, was not sufficient for my current spending pattern; and given they could see that I could clearly pay it off, they were more than happy to double the credit limit - which is more than enough now.

GrahamBP_2

If part of my purchase at a supermarket is cash back, is that part of my purchase included for the 5% cash back. As far as I can see, Amex would only see the total amount charged to my card. Is that correct?

GrahamBP_2

Thanks, NickyDee.