Credit Card Reward Schemes Discussion Area

Former_MSE_Archna

This thread is specifically to discuss the content of the

Credit Card Reward Schemes: Find the very best payers Article

To discuss or ask a question about the article: click reply

BenL

I use Skycard.

I got the card in Jan 06 as we were moving house and I wanted a long 0% on purchases ideally and this was packing 12 momths.

I saw on the article that it says £1.26 per £100. Seems a bit of a funny amount, I thought it was a straight 1%.

I don't currently have sky but will in the future (so not a waste) and have now got 5000 skypoints or i thought £50 but maybe more.

Service wise I have not had any problems at all and would recommend them to everyone.

Ben

jonesMUFCforever

I use Egg money - straight 1% paid annually back to card (max £200 pa).
If you pre load the card then they pay 4% gross interest to you and no cash advance fees for withdrawing of cash.

michaels

I have a capital one circle that pays 1%

Also what about the GE money card?

clipboard2

From the Daily Mail 17/5/06:

" US owned GE Money is offering 3% cashback on the first 5K spent each year so gives a max of 150 pounds p.a. After that it gives 0.5%"
Interest rate is 12.9% so pay off each month in full.

Sounds too good to be true as the retailer receives just 2.5% of the spend.

There is a reference to https://www.thisismoney.co.uk/cashback

Do any MSE'er have any experience of GE Money?

Rafter

clipboard2, where did you get your 2.5% from?

Retailers pay different amount depending on size, whether they own or rent their credit card equipment, what level of fraud they get and how good they are negotiating a good deal from their bank!

The bank that issues your card gets a rate of about 0.9% which is all GE will get in this case, which as you say is why giving away 3% cashback is an amazing deal as they are losing over 2% on every transaction.

R.

MSE_Martin

You'll find details on teh GE card in the cashback article

GlennTheBaker

My OH has a Conran card (I'm a secondary holder) which we use for all of our everyday spending. We chose it for it's simplicity - 1% cashback on everything and very widely accepted. We also both have an AmEx Nectar credit card but we only got them for the 7000 bonus points and when we've got the final lot at the end of this month they are going to get ditched!

Anthony_S_Kravitz

I have had a BA AmEx card for about 6 years. It is free but I voluntarily pay £120 a year for it, to get 1.5 miles rather than 1 mile per unit. By spending £10k a year (easy as I use it for business) I also get a "companion ticket" annually.

To date we had 4 long distance (New York, Oz, India, California) Club Class flights, 1 long distance (Oz) World Traveller Plus and several European flights, each - about £20,000 worth. All for £720 and any necessary spending.

As far as I am concerned this beats any of the deals in Martin's tables.

MSE_Martin

circle one has been reduced for most customers and new customers. A few people (me too) have kept the legacy card.

GE card is already in the cashback article, its being added to the checker, and should be there today

beautifulgorgeous_2

We have a thomas cook card as we go on a lot of holidays. When we pay for the holiday we do not get charged to use the credit card and we get an extra 1% on the payment.We had about £700 last year but we do buy everything we can on it. Mary