Best Cashback Cards Article Discussion Area

thegoodman

It does have a whopping great Annual fee of £275. You'd be much better off getting an Egg Money card (Also Mastercard. Also 1%).

You do get a lot for it where else with egg money card apart from cashback not much.

It also says 1% of all purchases (up to your Credit Limit) per year -- if I had a credit limit of, say, £1,000 would I only get cashback on up to a £1k annual spend?

At any given month cashback will be up to your credit limit. If your credit limit is say £1000 the maximum cash back per month will be £10.

Moggles_2

Originally posted by iamsam
It also says 1% of all purchases (up to your Credit Limit) per year -- if I had a credit limit of, say, £1,000 would I only get cashback on up to a £1k annual spend?

No. To avoid interest charges, you must clear the entire balance on your monthly statement by the payment due date. If you do this, a credit limit of £1000 would allow you to spend up to £1000 during each statement period and earn cashback on all spending.

granretire

I took up GE Money credit card as they offered 3% cashback on grocery and fuel. When I applied, I queried if I would get a cheque or credit and was informed a cheque.
Today I have found out that I will get credit (not a cheque) AND that each purchase is ROUNDED DOWN to the nearest pound before the 3% is calculated. None of this is in the t&c

Granretire

thegoodman

granretire wrote:

I took up GE Money credit card as they offered 3% cashback on grocery and fuel. When I applied, I queried if I would get a cheque or credit and was informed a cheque.
Today I have found out that I will get credit (not a cheque) AND that each purchase is ROUNDED DOWN to the nearest pound before the 3% is calculated. None of this is in the t&c

Granretire

Still 3% cashback is very good. A lot of people are unable to even get this card.

Moggles_2

Personally, I don't expect this cashback rate to last.

It looks as though GE Money aims to move away from storecards and build a market share in the mainstream credit card business. I doubt whether it will succeed unless its customer services improve.

Redbedhead

Moggles wrote:

Thanks for your feedback, Redbedhead

You're not alone. 'Sounds as though GE Money is flooded with applications and can't cope, yet there's no guarantee that 3% cashback rate will last.

Btw, in 10 years of credit card shuffling with more than 30 cards (not all at once of course), I've found Morgan Stanley's customer service hard to beat.

In 8 years of continual use, I've never had a moment's anxiety with my MSDW platinum cashback card.

Currently, the introductory rate for new customers is 3% cashback on all spending up to £2,000.

I have a Morgan Stanley as our joint credit card and am impressed with it. Plan was to keep that and use the GE card for our food and petrol with everything else on the MS.

At the moment am planning to carry on with the MS card and just keep my Goldfish card going.

thegoodman

Redbedhead wrote:

I have a Morgan Stanley as our joint credit card and am impressed with it. Plan was to keep that and use the GE card for our food and petrol with everything else on the MS.

At the moment am planning to carry on with the MS card and just keep my Goldfish card going.

I use cashback cards for as long as last or somthing better comes out,

Russ1

Hey guys,
I am a complete newbie here. I've read through all the related material and still need advice
I've never had a credit card before and it all seems very daunting.
My situation is this: I need £1500 to pay for a trip to Las Vegas. The trip will be in December 06. I will be in a position to pay this off in the following weeks after the trip. But how much will these monthly payments be and what card should I use.
Any advice would be greatly appreciated.
Thank u.
Russ:cool:

Moggles_2

Hi Russ1

Welcome to MSE & the credit card board!

Like so many things in life, it all sounds more complicated described in words than it actually is when you come to do it.

You don't mention your age, but presumably you have a bank account and you're registered on the electoral roll. As this will be your first credit card, I would approach your bank first.

There are no shortcuts to building a credit history. For tips to improve your chances, click on *Credit Rating* in the black box at the top of this board. Also, select Martin's *Check and Improve your credit score* article near the top of that page.

Very best
M

thegoodman

Or you can also try BarclayCard available to new comes with the credit limit of upto £2000 which shuld cover your trip.

Check the site below for more information:

http://www.barclaycard.co.uk/products/apply/initial.html