Best cashback deal

luckybert

According to egg I cannot change either my statement date or my direct date so I am looking for a new cashback deal.

My issue is that the statement arrives but then it is 2 weeks before th payment gets taken and by that time I' using my card and the month never starts at zero.

I pay off the balance in full so NEVER pay interest so not interested in 0% balance transfers etc

Just would like a cashback deal and egg pays 1% per year.

So who has the best deal out there please?

CLAPTON

why is that a problem?
it would be the same for all cards

luckybert

CLAPTON wrote: »

why is that a problem?
it would be the same for all cards

you think?

I'm not sure about that.

I'm sure my previous card sent me the bill and then the money came out pretty soon afterwards meaning I started the new month with a zero balance. I don't know where I am with this system and it's bugged me for a while now.

CLAPTON

Probably not but what ever difference does it make
as long as you pay the statement balance in full you pay no interest

lisyloo

This is only a psychological problem.
There is no issue.

catflea

quick question, how much do you spend on the card and in what type of locations? That could well determine the best deal.

luckybert

Yes no issue, just me (as the customer) wanting something to make me happy - how rude of me!!!

Probably spend around £10500k+ so my cashback for this year was £150

catflea

The reason I ask is whether the amex platinum card would work for you.

£10,500 equates to £96.25 on Amex Platinum (year 1, with the 3 month 5% bonus is £186.25 - on the basis of £875 a month = annual spend of £10,500)

So, unless you want to play the system, you'd do better on one of the flat 1% deals that are being offered.

Incidentally, most cards will take the DD a while after the statement has been sent. Be that 14 days or on the due date. You could consider an alternative payment method, such as bank transfer etc if you want to pay as soon as to get the account onto a true £0 balance.

scottishblondie

luckybert wrote: »

you think?

I'm not sure about that.

I'm sure my previous card sent me the bill and then the money came out pretty soon afterwards meaning I started the new month with a zero balance. I don't know where I am with this system and it's bugged me for a while now.

I have experience of 4 CCs - the payment was taken by DD on or just before the due date which is about 2 weeks after the statement is made up. All of them have operated the same. I can't say it's ever really bothered me, and it leaves a longer period to pay for things!

You could always start paying manually when the statement comes in?

lisyloo

Yes no issue, just me (as the customer) wanting something to make me happy - how rude of me!!!

It's absolutely fine if that's what you want, but it isn't actually an issue.

You could (if you find it acceptable) may an on-line payment every month as soon as your statement is ready to put it down to zero.
You DD will then not take anything if you have made full payment.
Would that work foor you?

CLAPTON

luckybert wrote: »

Yes no issue, just me (as the customer) wanting something to make me happy - how rude of me!!!

Probably spend around £10500k+ so my cashback for this year was £150

if they did indeed produce the statement and then immediate take the money, they would be inundated with complaints.

People wouldn't have sufficient time to ensure enough money was in their account before the DD was taken. Probably the OFT and FOS would deem it to be an unfair practice

anyway you have the simple solution, pay by BACS the moment you know the balance (which is available on line).