Morgan Stanley advice

bunnydrumming

I recently received my Morgan Stanley cashback card and I love the buzz i get each time i use it knowing it is earning me money - Big thank you Martin! :money:

However - a little querry: all my household bills are currently paid off by direct debit from my Barclays account - Although I am in process of changing account is it possible to set up direct debits to be paid off from my morgan stanley card!

I apologise if this is a blond question but I am absolutely awful with money and seeing as though i don't think i would ever qualify to get Martin to come and help me personally this is the next best thing!!!!!

Bunny

grumbler

bunnydrumming wrote:

is it possible to set up direct debits to be paid off from my morgan stanley card!

No. DDs are only for current accounts. However, some bills can be paid with a CC. For example, I used my cashback card to pay for TV licence. Also I am going to pay council tax with my CC next year.

DilbertJones

grumbler wrote:

No. DDs are only for current accounts. However, some bills can be paid with a CC. For example, I used my cashback card to pay for TV licence. Also I am going to pay council tax with my CC next year.

What do TV Licensing charge you for paying by CC? Can they take it out each month or do you have to purchase for a whole year at a time?

sicker

I've just paid my TV licence to-day, £126.50 before it goes up to £131 in April (what a waste of £131)
Grumbler , your lucky, my council want accept council tax payments from credit cards. Hope yours does.

John

mad

Hi I have a card with Morgan Stanley and grumbler is right. But, what it does say on recent correspondence when I got my Cashback bonus from them is:

'The even better news is your cheque could be bigger next year. Use your card to pay all your regular bills like utility services and car insurance........'

I always put my car insurance on as pay in one payment but I am not sure how you would handle the utilities

The_Boss

The cashback amounts to next to nothing when you look at the fact it changes to 0.5% after £2k. I get cheques for about £100 a year and considering everything I spend, that is not much. The Conran card offers better rewards.

grumbler

robodan wrote:

What do TV Licensing charge you for paying by CC? Can they take it out each month or do you have to purchase for a whole year at a time?

They don't charge extra for paying by CC. If you buy online, you can buy it only for a whole year. I don't know about phone.

grumbler

mad wrote:

...'The even better news is your cheque could be bigger next year. Use your card to pay all your regular bills like utility services and car insurance........'.

Be very cautious with bill payments. Many CCs offer cheques to do this. MBNA even have online facility to pay bills. However, all such transactions are treated as cash advances with all consequences.

moneyfool

I paid the TV "TAX" by credit card on line no problem. Used to pay council tax by DD but now its gone up so much I fail to see why they should have my money every month when "I" can be earning interest on it. My council (congleton) do make a credit card charge, don't know what it is yet,but I suppose equal to the usual credit card 2.5%. What I'd like to know is ...is it best to pay in quarterly installments ,keeping money earning interest until needed OR in one lump sum and then start investing say in an ISA for next years rip off bill?
thanks in advance guys and gals....:)

grumbler

My council started accepting CC payments recently and surprisingly don't charge extra for paying by CC. I don't see any point in paying the whole year amount in advance whatever way to pay you chose. And I don't see any point in paying by a cashback card if you pay extra 2.5% for this.

moneyfool

The_Boss wrote:

The cashback amounts to next to nothing when you look at the fact it changes to 0.5% after £2k. I get cheques for about £100 a year and considering everything I spend, that is not much. The Conran card offers better rewards.

Not heard of the Conran card, what bank is behind it? ie.MBNA HBOS etc?
cheers...