Credit Card Reward Schemes Discussion Area

stphnstevey

Egg Money 1% everything

Useful for Stoozing

(now with a £1 monthly fee for new customers through)

stphnstevey

Stuart_W wrote: »

In the article, The Co-operative Members' Credit card would seem to be a mentionable "straight payer" - you get 0.5% cashback on all purchases (and 1% cashback in co-op stores) but co-operative dividend is a cash payment (direct to bank account or vouchers that can not just be spent but also cashed in store) - it is not necessary to use the cashback at the co-op, or indeed ever shop at the co-op. There is also no upper-ceiling on the cashback, like the Bank of Ireland card mentioned.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368467,CFSweb/Page/Bank-CreditCards?WT.svl=copy

How would you know what the dividend would be?

samual332

just to let people know, you get 5 points per pound on the bhs card when spending in bhs/online.
when spending everywhere else you get 1 point per pound...
every 500 gets a 5 pound voucher, and a 1000 is ten... just thought i'd point that out....

billbob

stphnstevey wrote: »

How would you know what the dividend would be?

The dividend is paid in addition to the cashback. For every £5 borrowed on the credit card you will receive one co-operative membership point. The points are converted to cash twice a year based on The Co-Operative Groups profits. It is normally around 2p for every point.

As a member of the co-operative you can earn points on many of their services including insurance, bank accounts, travel and food - so the points can quickly add up.

stphnstevey

billbob wrote: »

The dividend is paid in addition to the cashback. For every £5 borrowed on the credit card you will receive one co-operative membership point. The points are converted to cash twice a year based on The Co-Operative Groups profits. It is normally around 2p for every point.

As a member of the co-operative you can earn points on many of their services including insurance, bank accounts, travel and food - so the points can quickly add up.

So 0.4% return - not the best...

premierfella

I've been won over to the card and have applied (also hold 1% cashback cards with Capital One and Egg Money).

This Co-op card, as already mentioned, gives 0.5% cashback on non-Coop spend plus a variable Membership dividend (recently in the region of 0.3% to 0.5%). The variability means it is not the best non-Amex card on cashback criteria alone (which I think is why I rejected applying for it in the past).

However, the website also indicates:
"We’ll donate 1.25p to our Customer Who Care campaign for every £100 you spend – at no extra cost to you."
I can't see mention of this being a guaranteed commitment in the terms and conditions, so will have to keep an eye on the website to make sure this continues, but will use the card whilst this donation applies.

Edit (28JAN10):
Having another look at this card since receiving my first statement and now find that I misread the charity donation rate (equals 0.0125%, not the 1.25% I originally mistakenly read) and the Membership points rate (earned in addition to straight cashback) appears to have changed for 2010 from 1 point per £5 spend to 1 point per £10 spend (1 point has in the past equalled around 1p/2p, so the points are worth around 0.1-0.2% on the credit card).

So for non-Coop spending I now see that, on a purely financial basis, I should continue to use my other straight 1% cashback cards.

wilder40

Hi,

I wondered why the Amazon Mastercard is not included in the checker.

The Amazon site says you collect points spent 'elsewhere' - and looks a good alternative to the Sky card which offered excellent rewards (hadn't paid for my Sky for months!).

I'd really like to use the checker for the Amazon Mastercard.

outerbanks

hi
Can someone please tell me which is the best VISA or Mastercard for cashback/rewards (ideally cashback as I dont want to be limited where I can spend my rewards)? I've read about the Egg MC but there must be more than one option out there. I already have an AMX so making the most of that cashback but lots of retailers don't take AMX so I'd like to get a Visa/MC as well.

CannyJock

outerbanks wrote: »

hi
Can someone please tell me which is the best VISA or Mastercard for cashback/rewards (ideally cashback as I dont want to be limited where I can spend my rewards)? I've read about the Egg MC but there must be more than one option out there. I already have an AMX so making the most of that cashback but lots of retailers don't take AMX so I'd like to get a Visa/MC as well.

Egg Money card.

Full list of cashback cards at http://www.stoozing.com/cashback.php

SophieB73

The article is heavily geared towards AMEX - as they have the best rewards on offer.

However, as AMEX is not the easiest card to get - you can be rejected even if you have a great credit record - it would be good to have a more thorough examination of all the non-Amex cards.

It seems that because AMEX offers the best rewards, the rest are almost dismissed because they can't compare. If, however, AMEX isn't an option for you then the other cards could still be a good option (even if they are only around a 0.4% or whatever).

There just seems to be a lot of coverage of AMEX cards, but I suspect only a small proportion of people would qualify.

Thanks