The Best Credit Card - If paying off every month

New_to_Budgeting

Hi There,

I am new to posting in these forums, but read them loads and really helpful!

I am looking to get a credit card to use all month, whilst my wages sit in a high interest savings account - then pay off my card in full using my wages when the bill comes through.

What is the best card to use for this? I have a card with my bank, hsbc, but there is no incentive.

I welcome your recommendations - have seen the tesco card and heard about the GE card but its all jargon to me and dont know whats best.............please help!!

MPH80

Start with the MSE beginners guide if it's all jargon:

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103212597,43859

M.

mintymoneysaver

Your best bet would be a cashback card as long as you are sure you can pay it all off every month.Martin talked about them in his weekly tips this week, so you can see which one is the best.

PBA

Personally I use the GE Money card, which gives 3% cashback on spending in supermarkets and petrol stations. Everything else goes on my Egg Money card, which gives 1% cashback on everything. I haven't seen any better deals, but I'm sure someone will correct me if I'm wrong...

humfer

PBA wrote:

Personally I use the GE Money card, which gives 3% cashback on spending in supermarkets and petrol stations. Everything else goes on my Egg Money card, which gives 1% cashback on everything. I haven't seen any better deals, but I'm sure someone will correct me if I'm wrong...

This is the market leader for sure. I think Morgan Stanley now do 3% as well but only for a introductory period then reverting back to 1%. Its just a pity that GE seem to be so picky when doing credit checks/dishing out the cards

pin

Get a cashback one (I have egg money, 1% cashback, but there are others around).

Or else get a reward based one (like BMI miles).

New_to_Budgeting

I thought I wouldnt be paying it off all month though, as it will be stored in a savings account? Will this boost your credit rating?

KTF

PBA wrote:

Personally I use the GE Money card, which gives 3% cashback on spending in supermarkets and petrol stations.

I have a GE Money card and since I have had it (3+ months or so) they have paid 3% cashback on everything I have put through them. Everything is currently going through it until they stop doing so

Others have reported the same in the GE Money thread.

GlennTheBaker

New_to_Budgeting wrote:

I thought I wouldnt be paying it off all month though, as it will be stored in a savings account? Will this boost your credit rating?

You would just pay off the balance shown on your statement in full and on time each month.

BASFORDLAD

this is the best of both worlds. use a cash back credit card and then the halifax cash back current account, so pay ur credit card of with ur debit card)(if that card allows it)

dazza.mk

#10, or Alternatively have the Alliance & Leicester Premier Direct Account and have 6.1% Interest as opposed to the miserly 0.5% interest on your Halifax account- I suppose it would be 1.5% if you included the 'moneyback' element