Top Cashback Cards Discussion Area

lisyloo

Great for you Dave, but people's experiences do vary depending on where they shop.

olliecampbell

lisyloo wrote: »

Assuming you are talking about actually buying goods and services and not just transferring money, then yes, you get cashback.
I use my Egg Money card with paypal for ebay items all the time.

If you were transferring money then that might be different as it might be classed as a money trasnfer or cash advance rather than a purchase.

Thanks, good news

m0gw41

I've just got an AMEX platinum and they too have given a paltry £700 credit limit. I was told I cannot increase this and that once I have maxed out the card at £700 each month I cannot repay it and start spending again within that month. Looked carefully at the T&C s and found that they will only pay cashback up to your credit limit each month anyway, so the trick of spending 3x£700 per month will not work:

17.2 The rebate will only be paid by us each Card anniversary Date on the expenditure that has taken place during the preceding 12 months. The total amount of expenditure which is eligible for a rebate in any one month is limited to the amount of the Credit Limit. Payment will be made by crediting the Account.

17.3 No rebate will be payable in respect of:

17.3.1 Any interest, or fees, or the amount of any Balance Transfer

17.3.2 Any spending which, in any one month, exceeds your Credit Limit

17.3.3 Any amounts that are subsequently recredited to your Account because of refunds

17.3.4 Any month in which the minimum payment amount shown on your statement is not paid by the due date due shown for payment on the statement.

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.

As it stands if they do not up my credit limit beyond £700 after 6 months then I can only spend a maximum of £8400 per year which equals £156.50 annual cashback, not much better than the others. This is appears to be how they can limit the amount of cashback you receive.

Any one had any joy getting their credit limit increased from the minimum amount in the first couple of weeks of receiving the card? I earn over £30k and as far as I am aware have a good credit rating (only ever missed one credit card payment, never missed mortgage or other bills).

Muay_2

ylesia wrote: »

Hi Muay

Have you tried phoning again? I just got an Amex card with a credit limit of £8,000. They phoned me to ask me how much I would be spending so they could set an appropriate limit. I would phone again and say that now you have started using your card you really need a higher limit, as long as you are paying it back every month then I can't see what their problem is.

Lucky you ylesia I will try to call them again...

@m0gw41 I see you are in my same position :rolleyes:

There is something else to be said:

I set up to repay my CC via Direct Debit (in order to get the max cash back and do not incur in any interests), but... and there is a but (I here quote an email from American Express): 'American Express® collects Direct Debits 18 days after statements are produced for credit cards. Therefore, as your statements are produced on or around the 4th of each month, your Direct Debit will collect from your account around the 22nd of the month.'

So let's make an example:
I have a credit limit of £700 at the beginning of April.
I spend, let's say £600 before the statement on 4th of May (or actually around the 4th since they produce the statements on a 30 day cycle).
BUT they will collect the money from my Direct Debit 18 days later!
So around the 22nd of May, when I will be paying them the £600.
The balance will not be cleared for further 18 days, and I will have only £100 that can be spent without breaking the credit limit until that date!!
After the 22nd my card is cleared and I have again £700 of credit limit minus what I might have spent in those 18 days (between the statement and direct debit collection date).
Basically for the majority of May I cannot use the card without overcome the credit limit.

Maybe you all know this, but I'm new here and this sounds to me like another trick...

Cactus_Jack

Please - how can I maximise my credit limit when I apply? If they telephone to ask me what I spend, what shall I say? Ideally I'd like a credit limit of around £3,000.

Also: would parent income count towards the household income it asks about on the app form? Thanks.

YorkshireBoy

Cactus_Jack wrote: »

Please - how can I maximise my credit limit when I apply?

You won't get a say in the matter generally; it'll be set by their scoring model. You may, however, be able to get it increased by appealing in writing and providing evidence of your financial circumstances that they were unable to obtain from the CRA search and your application data.

Also: would parent income count towards the household income it asks about on the app form? Thanks.

No! Household income is generally home owner/rent payer and spouse/civil partner.

Including your parents income may get you a CIFAS fraud marker on your credit file.

Cactus_Jack

YorkshireBoy wrote: »

You won't get a say in the matter generally; it'll be set by their scoring model. You may, however, be able to get it increased by appealing in writing and providing evidence of your financial circumstances that they were unable to obtain from the CRA search and your application data.No! Household income is generally home owner/rent payer and spouse/civil partner.

Including your parents income may get you a CIFAS fraud marker on your credit file.

Oh, wow. I'm glad you responded because I was literally ploughing through the application form. I won't bother then!

nennyrainbow

Hi
I have exactly the same problem as muay and m0gw41 - a paltry £700 credit limit despite having a family income of >30k and an excellent credit history. I applied for the card before Christmas last year, based on the money saving tips here, so it's not a recent change in the rules, just seems to be a bit random who they apply it to. I too have applied to increase my limit, since I spend on average around £600 a month on the card and have always paid it off in full on time, but to no avail. My other credit card (with A&L) for which I gave exactly the same details, gives me a credit limit of £6000 (also always cleared in full every month) so this is nothing to do with your ability to pay, and everything to do with their ability to rip you off with over-limit fees (2 x £12 so far).
I really wouldn't recommend this card to anyone: I will keep it until the year's anniversary so I can claim my cashback and then ditch it.

durelli_tyres

Hi,

I recenly brought a new kitchen on 6months interest free credit. The 6 months is coming to an end so I need to pay it off. I have had the idea of paying it with a reward card, so I get either cash or points when I clear the balance.

In total I need to pay around £15,000

Are there any cards that will allow me do this? Which is the best one?

thanks

Durelli

VoucherMan

durelli_tyres wrote: »

Hi,
Are there any cards that will allow me do this?

Durelli

Can't say for certain - but any cards that I've had or still have

a) charge fees for balance transfers/cash advances

b) don't include the above in any reward schemes