Cash Back Credit Cards

debt_free_me

Morning All

I am thinking of taking out a cashback credit card to make some extra money on the normal things I buy. I am a bit worried that I will use more than I think but if I just stick to buying petrol on it, as I know exactly what I save for it every month and as soon as I have bought it I can pay it off, then I could make around £70 in a year, which will go towards my challenge in my sig.
Does anyone know of any good cashback credit cards?

DFM

MrsTinks

Hi Debt Free Me -

I have moved your thread to the Credit card board where you will probably get loads more advice than on the DFW board

FYI I have the AMEX cashback card - I like the fact it's good cashback but also that I can pay it easily and quickly online

lisyloo

if I just stick to buying petrol on it, as I know exactly what I save for it every month and as soon as I have bought it I can pay it off, then I could make around £70 in a year

Wow !! How much petrol do you buy per year?

Have you thought of moving closer to work or getting a more fuel efficient vehicle?
Or do you have high expectation of a cashback rate?

Best on-going cashback rate is about 1% which would equate to £7000 in petrol, hence the question.

debt_free_me

MrsTine - thanks for that
lisyloo - I worked that out on 5% which was one I saw, I spend £120-£150 on petrol a month, so was more a higher expectation of cashback.

lolarentt

We use an Amex (0.5% for the first £3500pa; 1% up to £10000 and 1.5% for everything over £10K); Capital One (1% on all); and a Barclaycard Cashback Mastercard (1% on the first £200 every month).

You'll get lots of introductory offers with higher rates - the above are established rates once they've got you! If you have an "other half" it's obviously worth getting a joint card with Amex.

The Asda storecard was best for petrol as it gives 2p/litre discount but they're cutting that back to 1p/litre from 1st March

lisyloo

5% is for 3 months only (with Amex), so I think your calcs are wrong.
Although you can get about £35 cashback for applying for AMEX with some sites (like quidco).

It's worth putting as much as possible of your normal spending on a cashback card e.g. food.

debt_free_me

Thanks lolarentt, I will look into those

YorkshireBoy

You may find this cashback calculator useful...

http://www.stoozing.com/cashcalc.htm

debt_free_me

Thanks Lisyloo. I haven't looked into it all properly yet so my calculations probably are wrong, every little helps though even if it works out less.

debt_free_me

Thanks YorkshireBoy