Morgan Stanley Casback Question

davidlizard

A very quick question - I guess the answer is probably buried in the Ts and Cs, but I don't really understand them so though I would ask here for clarity.

I took the Morgan Stanley credit card last August for the 2% cashback, which has droppped to 1% and is now 0.5%, so therefore I no longer use it (now use Egg).

My on-line statement indicates I have the best part of £100 cashback due. Now, I understand that if I cancel the card before August, I will forfeit this cashback. However, are there any "rules" that I must spend at least £X a month or use it Y times a month to maintain my eligability for cashback ?

I guess that the answer is that I can put it away in a draw (i.e. not put anything on it) until my cashback appears in August, then cancel the card.

All advice gratefully received.

Dave

The_Boss

Nope.

Just wait till the month after your anniversary and a nice cheque should arrive.

I took out the MS card 5 years ago for cashback. It used to be extremely lucrative until they slashed it. A few years ago it was 1% on the first £2000 and then 2% above that. Then it was was 2% on the first £1000 and £1% after that. Now it is only half.

Unfortunately, Egg Money rejected me.

HGLTsuperstar

dave, I'm doing exactly the same as my anniversary is in September, and have lowered CL to the £500 minimum to help with applications elsewhere in the meantime. Will of course try for a retention offer though when I ring to cancel.

The_Boss

A retention offer with a credit limit of only £500 wouldnt be up to much. I've heard through others on here that the best retention offer they will give is 2% cashback for 3 months as opposed to a 0% deal.