Another Egg Money Cashback question

InMyDreams

sicker wrote:

I agree with you 'inmydreams' but unfortunately I am not wealthy enough to spend £1667 per month, wish I was, and my bills that I can pay by credit card are nowhere near that level either. So I am happy with the cash back that I accumulate.

John

Well no, me neither. Sorry - I misunderstood your "very reason" for keeping your account in credit by £2000 then. I thought you meant that this was so you could get more cashback, implying that if your account wasn't in credit by £2000 then you wouldn't have enough credit limit to spend at the levels you wanted to, implying that you intended to spend over £2000 per month.

I'm afraid I don't understand your reason for keeping your account in credit then. As others have said, why not stick your £2000 somewhere where it will earn more interest, and repay rather than prepay. Then not only do you get a better percentage, but you get it for longer, as you'll still be earning interest on everything you've spent until you pay back your card. Any prepaid ammount will stop eaning the interest as soon as it's spent.

sicker

Laziness and convienience 'inmydreams' My higher interest returns are split between ICICI (80%) and ING (20%).The £2000 I quoted was just a ball park figure. It varies between £500 and £2000 depending on my budgeting requirements.

Best regards

John