Credit Card Reward Schemes Discussion Area

20aday

Brass_Triumphant wrote: »

I currently use a Tesco credit card and pay this off in full every month.

Is there something better I could be using?

I probably spent about £200 a month on a credit card.

I understand cash back schemes etc aren't as good as they used to be hence probably staying put!

Thanks

Do you predominantly use your Tesco Clubcard credit card within a Tesco store? Or at other retailers?

I only ask as you can "boost" your Clubcard vouchers to maximise your rewards. In-store spending accrues more "points" (due to the EU Interchange ruling you only get 1 point per £8 out-of-store spend now).

dj1471

julianhodgearepants wrote: »

The operator was apologetic but said all new applicants are given this limit for review after 6 months! I asked for the application to be cancelled and she agreed.

Sounds like they were fobbing you off, as you say a limit that low is useless for most people. I got a limit of about £3k on application about a year ago.

Do you have a lot of credit or anything adverse in your credit file?

julianhodgearepants

dj1471 wrote: »

Sounds like they were fobbing you off, as you say a limit that low is useless for most people. I got a limit of about £3k on application about a year ago.

Do you have a lot of credit or anything adverse in your credit file?

Seeing as you have asked I have gone back to the Asda site and noted that they have a connection to a credit agency called Noodle. I have entered my details and that has produced my personal report. My credit rating is 5/5 and my credit score 685 which falls towards the top end of the Excellent category. So my low limit has got nothing to do with any perceived risk!

julianhodgearepants

dj1471 wrote: »

Sounds like they were fobbing you off, as you say a limit that low is useless for most people. I got a limit of about £3k on application about a year ago.

Do you have a lot of credit or anything adverse in your credit file?

My wife has also now applied for the Asda card with me as secondary card holder. Her credit rating is in the same area as mine but she has a much lower annual income. Guess what...she has been given a £5000 credit limit! We'll use that one from now on. Sorry HSBC.

planteria

good outcome then.. glad it has worked out.

JHC

A small point to note when applying for credit cards is that the issuer of the card may be a completely different company, which may be significant to you in some cases. For example the M&S credit card is actually issued by HSBC, though this isn't obvious in their literature.

FOREVER21

JHC wrote: »

A small point to note when applying for credit cards is that the issuer of the card may be a completely different company, which may be significant to you in some cases. For example the M&S credit card is actually issued by HSBC, though this isn't obvious in their literature.

Just had a letter from M& S they are reducing the number of reward points you get when using their credit card anywhere other than M &S stores.

It used to be 1 point for e very £2 spent but now is 1 point for every £5 .The rewards for spending in M & S remains the same.

Apparently this is as a result of a EU directive reducing the amount a bank can charge a retailer for using credit cards.

No doubt the reduction will see a lowering of prices in shops, I think not!!