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Best Cashback Cards Article Discussion Area

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  • save4u wrote:
    I have had mine for 2 months now and limited my spending to Petrol & Supermarkets. I am getting 3% cash-back but the calculation appears to be rounded down to the nearest 10p. Is that the same for all users?

    If 3% cashback is on total spend where-ever then no problem but if not we should compile our own listing and as starters these shops all take them for food and petrol

    Sainsbury's
    Asda*
    Tesco

    * at pay desk only for petrol

    I have a GE Money Everyday card too and the cashback seems to be worked out as follows: a transaction is rounded down to the nearest pound and then multiplied by 3%. The cashback total is a sum of this calculation on all transactions.
    For example, if I only made 2 transactions on petrol (£39.99 and £59.99) I would've expected the cashback amount to be approximately £3 (3% of (£39.99 + £59.99)). However, GE Money would calculate the cashback amount to be just £2.94 (3% of (£39 + £59)).
    Are they allowed to do this, as there appears to be nothing in their terms and conditions stating that they will perform such rounding down?
  • CHANGES TO CASHBACK RULES!!!

    If you're a lower earner and looking at the Morgan Stanley group of cards for the 1% interest then don't bother.

    I've had a letter from Morgan Stanley explaining that from 1st October 2006 the cashback will be reduced so that all spending will be rewarded at 0.5% rather than the first £2000 at 1% and the remainder at the lower rate.

    Additionally, the annual cashback cheque is now out of the window and you now have to request the cashback; which is either paid as a cheque or directly back into your Morgan Stanley account.

    Sounds good? Well not really as the minimum Cashback redemption is £15 and anything more than that must be redeemed in £15 blocks (i.e. £30, £45 etc etc)

    HTH

    Mike
  • Moggles_2
    Moggles_2 Posts: 6,097 Forumite
    Okay, this is a cost-cutting exercise.

    Bearing in mind the current cost of living, I'm relaxed about this change. I'm not a big spender, but I easily qualify for multiples of £15! Quite honestly, it's hard to see how anyone wouldn't, unless they are using several cashback cards all at the same time.
    .. the cashback will be reduced so that all spending will be rewarded at 0.5% rather than the first £2000 at 1%

    This reduction in rate certainly is a blow for those in receipt of this letter, however it's important to stess that not all MSDW customers are affected.
    People who don't know their rights, don't actually have those rights.
  • M_Thomson
    M_Thomson Posts: 1,596 Forumite
    Part of the Furniture
    Moggles wrote:
    Okay, this is a cost-cutting exercise.

    Yep, I am sure that it mostly has to do with the reduction in charges though. People that run their accounts well are having to pay for the people that don't.
    Moggles wrote:
    however it's important to stess that not all MSDW customers are affected.

    How do you know this?
  • Moggles_2
    Moggles_2 Posts: 6,097 Forumite
    I have a Morgan Stanley Platinum card. The cashback rate remains unchanged.
    People who don't know their rights, don't actually have those rights.
  • Mike307
    Mike307 Posts: 32 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I use an AA Visa card - it gives 1% cash back & 2% on fuel purchases, Also you can get a cheque payment for the points you have earned. My monthly expenditure on Diesel fuel is about £90. (Which happens to be my biggest expense per month, after vehicle depreciation)
    "Genius is eternal patience."
    -Michelangelo
  • Morgan Stanley have written to tell me about the "new benefits" on my existing Cashback Card!!!!

    They are now going to redeem this in £15 incriments.

    In August I stopped using my card when I got to the £20 cashback ie the 1% (normally I wait until the yearly aniversary and start again at 1% in January)

    I am now wondering how I am going to get my £5 back without having to spend andother £2000 at 0.5% to get the extra £10!!!(I coulnd't bear to leave them with the £5)

    I presume that I'm not the only one with this problem and would appreciate any advice
  • Moggles_2
    Moggles_2 Posts: 6,097 Forumite
    Well, you're not the only one to receive the letter certainly (please see #163 to #166)

    Which card were you planning to use from September to December?
    People who don't know their rights, don't actually have those rights.
  • andyrules
    andyrules Posts: 3,558 Forumite
    I use an AA Visa card - it gives 1% cash back & 2% on fuel purchases, Also you can get a cheque payment for the points you have earned. My monthly expenditure on Diesel fuel is about £90. (Which happens to be my biggest expense per month, after vehicle depreciation)

    Interesting, as I'm fed up with amex and looking for alternative, yet it says on the aa website cashback is 0.5%, so would that mean fuel is therefore 1%? Have I misunderstood that?
  • AP
    AP Posts: 412 Forumite
    100 Posts
    andyrules wrote:
    I use an AA Visa card - it gives 1% cash back & 2% on fuel purchases, Also you can get a cheque payment for the points you have earned. My monthly expenditure on Diesel fuel is about £90. (Which happens to be my biggest expense per month, after vehicle depreciation)

    Interesting, as I'm fed up with amex and looking for alternative, yet it says on the aa website cashback is 0.5%, so would that mean fuel is therefore 1%? Have I misunderstood that?

    The points are worth 1% on fuel and 0.5% on anything else if you redeem it in cash. If you redeem it against other AA products e.g. membership, insurance, etc., it's worth double, i.e. 2% on fuel and 1% on others.
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