GE 3% Cashback - Statements

Jake'sGran

Stompa wrote:

Statement arrived this morning, 3% on everything again.

Who is GE? I can't find out about them. They don't seem to be on the list of cashback cards when I went looking. (Is it Guardian Exchange?)

thumshie

GEMoney - https://www.gemoney.co.uk

Bad news is they removed the card, as it's only meant to give 3% on purchases at petrol stations and grocery stores, 0.5% on everything else, but their computers can't seem to calculate it correctly....yet.

jezza2412

Sorry to nitpick, but according to my calculations, they give 3% only on each *whole pound per transaction*, is that right? For example, spending £0.99 + £1.99 + £2.99 yields £0.00 + £0.03 + £0.06.

So, unless you only ever purchase items in whole pounds, the average cashback on the true total spend is probably significantly less than 3%.

Still, I'm not complaining, as it still seems a pretty good deal to me.

Do all the other cashback cards work in the same way?

Maddie

In case anyone is interested, I asked about online access last time I rang GE, and was told this would be available in the new year.

Stompa

jezza2412 wrote:

So, unless you only ever purchase items in whole pounds, the average cashback on the true total spend is probably significantly less than 3%.

It's less, but I'm not sure I'd describe it as significantly less. Clearly the smaller the transactions then the more you lose out.

FWIW on the 136 (typically small) transactions I've made so far the cashback works out at 2.92%.