Cashback Credit Cards

Cpu2007

Witht the current financial situation ever bit helps so thanks to moneysavingexpert I came across these cashback credit cards scheme which I am really interested about.

A few questions:

It says:"All the top paying cards are issued by Amex, as it tends to charge retailers more when you pay, so can afford to give you more cashback" << and it also says that small businesses do not accept it because of this but why do big businessse/retailers/stores accept it?
I mean is their loss as well being charged for it so why do they accept it?
-What is the alternative if in case they do not accept it,is there any other cashback cc that is accepted by everyone ?

If we use a credit card in shops/stores there is a charge usually, is there any kind of charge with the cashback cc? and will I be able to know in advance if it charges before paying for my product?

What are the advantages and especially the disadvantages that you guys came across, other then it can't be used everywhere and that we have to link it up with the debit card so we won't be charged any interest when we pay back.

btw I am thinking about buying this card, if anyone thinks there is a better one please advise me :http://www.moneysupermarket.com/money/providers/american-express-mse.aspx

Thank you

[Deleted User]

Big businesses can absorb the costs across the wider business and dont want to be turning away large numbers of Amex users. Where it isn't accepted, they'll almost certainly accept Mcard or Visa.

You say you normally get charged for using your credit card in shops? Is this a prepaid card you're using? Normal credit cards don't attract a charge at most retailers (travel and cars being the obvious exceptions). Certainly not in shops.

Lastly, you don't buy a credit card - you need to apply for it. Which means you need to think about whether you will meet their criteria. Do you thnk you will be eligible for it? If not, you might have to think about an alternative.

Cpu2007

Thank you, I do understand now the logic behind it.
But Mcard and visa do not provide cashback as far as I know.

Yeah some places do charge for cc but your right shops don't.

That was just a mistake a meant apply
Well Here are my details, I think I am eligible but wanted to have an opinion of someone in order to be sure that I won't have any problem.
I have a debit card and I will link the mentioned amex card to my debit card, I can pay back directly everything i pay through the cashback card as I have fund in my debit card. What other requirements do I need to be eligible?

[Deleted User]

They have tight criteria - in terms of impeccable credit history -ie not missing payments, previous credt where they can see you've properly managed it, minimum income, etc. Their site should give some guidance. But if this is your first credit card, I'd guess you would be almost certainly be declined.

Halifax do the £5 a month cashback when you spend £300 or more card. Which is a Mcard. Almost certainly easier to get.

Cpu2007

i understand now,I didn't know there were these kind of requirements. I will have a look now.

The £5 cashback sounds much better as in £300 with amex ill get £15 cash back but that will be only for the first 3 months then it wil be 1.25 which is less then £5, so overall halifax is better; i assume theres a catch in that, with amex i get cashback on whatever I spend but with halifax I must spend £300 a month to get that £5 right? what if someone spends more?
The bank I am registered with is lloyds, does lloyds release any good cashback card?

[Deleted User]

Yup - it's a flat fiver, whether you spend £300 or £8.6 billion.

Don't think Lloyds do any cashback. There's a new MBNA Amex card which might be worth looking at - it is probably more relaxed than 'real' Amex. Suggest you have a search for cashback cards through one of the comparison sites and see what comes up.

Cpu2007

There seem to be a catch in halifax too so not really my type, I mean in my case I won't be able to get it.
To get the halifax cashback I need a reward account but for the reward account says that I need to pay in £1000 to keep that account, so If I get put £1000 in and spend £300 ,i'll get £10 a month but if I don't put £1000 a month then I don't get the reward account which means I don't get the halifax cashback account either.

I think in my case the best one is https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=7amcbfeb1_sax&mc=ECO-UK-33333-13139
not minimum requirements other then a good credit rating, it gives less but it's all I can get.