Spenidng 10k in next year, which card do I need for best return?

DocHants

Paying for holiday and home improvements over the next year, and reckon I will be spending inr the region of 10k.. so want a credit card I will get max retunrn from.. either cashback, air miles, or even nectar points!!! Balances will be paid in full at end of month...

Trouble is, looking about the main contender seems to be Amex, which to be honest, isnt really as widely accepted as Visa or MC.. so I dont think thats a good option really....

How can I get the most out of this spend in the next 12 months...???

INT1

AMEX Platinum money back, 3 months @ 3.5% I think

otherwise longterm capital ONE @ 1% cashback.

DocHants

I dont think amex is an option, I doubt my local plumbin company would accept ti, or th eholiday complany im using, for that matter....

Will check out cap one.. thanks...

I may be better off looking for air miles, or nectar points.. im sure id get more than £100 worth which would be 1% of 10k...

NJW69

Have you tried for a 12 month interest free card for spending (? Tesco card) and then save the money in a higher rate account and earn the interest and pay it back at the end of the 12 months. There is a thread on here about it called stoozing. Depends on your circumstances.

Fonz_2

I use Amex for absolutely everything and simply don't find places it's not accepted these days.

byebyedebt

AMEX are currently reducing credit limits on accounts. They have also introduced a min repayment of 10 per cent for new card holders.

In the UK it is often not accepted. B and Q used to accept but not any more. My peugeot garage would not accept last week, neither would my local Subway today.

The sad reality of AMEX is that you also have to carry around another credit card such as VISA or MASTERCARD as AMEX just isn't accepted in as many places.

My wife hates carrying it because it is not widely accepted. The only positive is the 1.25% cash back on all spend over £7500. If you spend less than 3.5k you only get 0.5%.

Cashback is also only calculated on whole pound transactions, so if you spend a million, in increments of 99p you will earn nothing. Spend exactly £2 and you will earn a penny cash back. If you spend less than £3000 you get no cashback for that year.

From their website

Key Details

• Earn 5% cashback for the first three months up to a maximum of £1001.
• After the first three months you’ll earn up to 1.25% cashback, depending on how much you spend on the card. Spend under £3,500 in the year and earn 0.5% cashback. Spend between £3,501 to £7,500 and earn 1% cashback. Spend over £7,501 in the year and earn 1.25% cashback1.
• To earn your annual cashback you must spend a minimum of £3000 in the 12 months preceding your Card Anniversary date.
• You are required to pay the minimum amount due each month. This will either be 10% of the total amount or £50, whichever is more.
• A dormancy fee of £20 a year is charged if the total of all your transactions, other than cash advances & balance transfers, that have taken place during the preceding 12 months is £0.

Hope this helps

td_007

DocHants wrote: »

Paying for holiday and home improvements over the next year, and reckon I will be spending inr the region of 10k.. so want a credit card I will get max retunrn from.. either cashback, air miles, or even nectar points!!! Balances will be paid in full at end of month...

Trouble is, looking about the main contender seems to be Amex, which to be honest, isnt really as widely accepted as Visa or MC.. so I dont think thats a good option really....

How can I get the most out of this spend in the next 12 months...???

Check out Egg Money Card for cashback (1%) - though it charges £1 per month, on 10K you will get £100 as cashback so you have a profit of £88 over 12 months. I do not think that Cap1 cashback card is still available to new customers.

INT1

Oh yeah, didn't notice they taken down the cashback card off the site!
Wonder if they will phase this out then to existing customers... They have already done away with the World mastercard part of it!

Idiophreak

Fonz wrote: »

I use Amex for absolutely everything and simply don't find places it's not accepted these days.

I don't find many places that won't take Amex, but there are still some about. I certainly wouldn't be happy with Amex being my only card - need a visa/mastercard as well for the places that refuse the Amex.