Top Cashback Cards Discussion Area

WillPS

RazzyT wrote: »

How come the Lloyds rewards cards never seem to be mentioned? Is there some issue with it? whilst it may have a fee of £24 a year it gives around 1.5% back?

Not sure how you've worked that out -
http://www.lloydsbank.com/credit-cards/choice-rewards.asp#tab-row-1

10,000 points = £10 cashback.

£5 spend on Amex generates 50 points
50 goes in to 10000 200 times, 200x5 = £1000; so Amex spend generates a return of £10 for every £1000 spent, or 1% (which is pretty much the same as Amex*)

£5 spend on Mastercard generates 10 points
10 goes in to 10000 1000 times, 1000x5 = £5000; so Amex spend generates a return of £10 for every £1000 spent, or 0.2% (which is appalling)

*Amex will give you the same rate presuming you'll put over £5k per year on it, with no annual fee. For the same £24 annual fee as the Lloyds card, they'll also do 1.25% cashback on any spend over £10k. Also - the Lloyds rate is almost definitely not going to last; by all accounts their Amex license is probably going to go as the arrangement doesn't work now the interchange caps them regardless of the symbol on the card; on the contrary the Amex rate probably is sustainable as they are not subject to the interchange cap.

MintyBob

Hello All

This may be a silly question but is it possible to pay of a cashback card with a 0% balance transfer card. I am assuming not as this would be a good money making wheeze.

flower77g

Yes, it is possible to pay off a cashback card using a balance transfer from a 0% balance transfer card. You could use this to extend the period at which 0% interest applies but this won't make you rich after you factor in any balance transfer fee.

Nick_C

flower77g wrote: »

Yes, it is possible to pay off a cashback card using a balance transfer from a 0% balance transfer card. You could use this to extend the period at which 0% interest applies but this won't make you rich after you factor in any balance transfer fee.

You're obviously a newbie! There are plenty of Balance Transfer cards with a zero fee. They are listed here

http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards

They won't make you rich, but they will make money for you. When you get to the end of the free BT period, you transfer the debt to a new BT card. You are borrowing money absolutely free, and instead of paying it off, put the money into an an interest bearing account.

Tamzin64

I always pay my credit card off in full but was wondering which is the best cashback card. Any advice would be great! I'd be happy with vouchers.

gdrforest

As predicted the Lloyds Amex deal ends on 3rd August. There will only be a Lloyds Visa card available paying 0.5% cashback. I received a letter this morning.

Nick_C

gdrforest wrote: »

As predicted the Lloyds Amex deal ends on 3rd August. There will only be a Lloyds Visa card available paying 0.5% cashback. I received a letter this morning.

Odd that they are still advertising their Amex cards on their website.

Are they dropping the annual fee? Are they offering a refund of the annual fee if you cancel?

I'm in my first 6 months of the Lloyds Avios cards, but I will ditch it if they drop the Amex Avios card.

chamelion

Do any of you have this:
http://www.tsb.co.uk/credit-cards/purchases/platinum-purchase-card/?WT.ac=A00386

1% cashback and 20 month interest free on a TSB credit card? Doubles the cashback of any other visa/ mastercard - lower than Amex but more universally accepted!

Doc_N

chamelion wrote: »

Do any of you have this:
http://www.tsb.co.uk/credit-cards/purchases/platinum-purchase-card/?WT.ac=A00386

1% cashback and 20 month interest free on a TSB credit card? Doubles the cashback of any other visa/ mastercard - lower than Amex but more universally accepted!

Useful, but limited to £5 pm cashback:

1% cashback on the first £500 of eligible spend each month when you have a TSB Classic Plus current account.

bigadaj

chamelion wrote: »

Do any of you have this:
http://www.tsb.co.uk/credit-cards/purchases/platinum-purchase-card/?WT.ac=A00386

1% cashback and 20 month interest free on a TSB credit card? Doubles the cashback of any other visa/ mastercard - lower than Amex but more universally accepted!

Yes, I've not availed of the interest free period but the cashback is good, particularly combined with the debit card, £10 a month for nothing.