Best Cashback Cards

izools

Would I be correct in saying the best Cashback cards on the market right now are the AMEX Platinum and the PayPal Mastercard?

Has anyone had experience with the PayPal card? It promises 1% Cashback from non-paypal purchases and 2% cashback from paypal purchases, no fee, and a £20 voucher on first use.

Sounds great. But it's fuelled by Santander. Anyone used it, care to comment?

lisyloo

Are you such its cahback with paypal?
I think it's vouchers that you can only use at certain places that accept them.

Check it out before you sign up.
If you shop somewhere that accepts the vouchers then all well and good.

Personally I prefer cash as I can spend it anywhere.

izools

Ah yes you're right. What would you suggest as the cashback card of choice for where Amex isn't used? This isn't for me by the way, but mother. She's paid off her cards and car loan so figured she may as well get rewarded for having done so

I guess MBNA VISA Cashback?

td_007

izools wrote: »

I guess MBNA VISA Cashback?

You mean MBNA Amex? then yes...or Cap1 World Mastercard that gives 1% unlimited cashback on any spend. The small downside is the annual fee of £18, of which £10 is returned as bonus in Jan esstially making it £8 fee.

Alternatively, Halifax Reward Clarity Card (need to check if available) gives £5 in each month where £300 is spent.

chexum

td_007 wrote: »

You mean MBNA Amex? then yes...or Cap1 World Mastercard that gives 1% unlimited cashback on any spend. The small downside is the annual fee of £18, of which £10 is returned as bonus in Jan esstially making it £8 fee.

Alternatively, Halifax Reward Clarity Card (need to check if available) gives £5 in each month where £300 is spent.

Capital one is no longer only £18 (minus £10). They just revamped their selection again. Instead of OneRate, they have one they call Click - and there's a "Transfer" that wasn't there before. In addition, perhaps to acknowledge that their World Mastercard is now of the dying breed of unlimited cashback cards, the annual fee for new cards is £30, with the bonus £10 unchanged... So effectively you need to spend at least £2000 each year to break even.

Other than that, I was thinking about the Halifax Reward as well. It seems to exist if you have their current account, but you need to arrange it in branch (or phone maybe?). As a long term cashback, it's actually better than the MBNA *if* you spend between £300 and £333.33 on it.

If you are ultra organised, and can ensure you spend between £300 and £333 on it each month, and make the remaining as petrol or supermarket purchases only, then you can gain 1.5% consistently. However, I don't think, I would be able to plan it :rotfl:

izools

Mother wouldn't be up for taking out a Halifax bank account just for the sake of a Clarity card, besides, extra searches and all that.

I was referring to MBNA VISA cashback, not AMEX:

https://www.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8cashvisgs1_sax&mc=ECO-UK-33333-13240

To use along side the AMEX Platinum in places that don't accept AMEX.

Think those two would make the best combo given mother won't be up for playing the Halifax Current Account game to get the Clarity Rewards

td_007

chexum wrote: »

Capital one is no longer only £18 (minus £10). They just revamped their selection again. Instead of OneRate, they have one they call Click - and there's a "Transfer" that wasn't there before. In addition, perhaps to acknowledge that their World Mastercard is now of the dying breed of unlimited cashback cards, the annual fee for new cards is £30, with the bonus £10 unchanged... So effectively you need to spend at least £2000 each year to break even.

Did not realise that the fee had gone up. I am still on £18 fee..guess something will come through the post re increased fee

btw I use Hfx Clarity, MBNA Amex and Cap1 monthly to maximise cashback. I put everything onto Hfx first till it reaches 300-310 each statement month and then is split between the other two cards depending on the spend.

td_007

izools wrote: »

Think those two would make the best combo given mother won't be up for playing the Halifax Current Account game to get the Clarity Rewards

However, if you look at it you are up by £10 with Hfx, because when you have the Rwd current a/c and circulate £1K you get £5 and then there the £5 to be made on £300 card spend. In fact thanks to Hfx I get £20 each month (3 a/c+1 CC).

lisyloo

I am still on £18 fee..guess something will come through the post re increased fee

Just because new cards are £30 doesn't mean the old cards are going up. They'd have to give us notice of that.

I'm not sure about this, but I think they might have us over a barrell here.
If you close your card before the end of the year you might forfeit cashback (need to check).
If you go into the next year you get the fee.
Don't know if you can ask them to close it on the year boundary.

Mr_K

Some of us aren't paying any annual fee for the Cap1 World Mastercard. When they introduced the charge they only did it for new customers, so I'm getting £10 a year, plus cash back, with no fee -it's a lovely card (!). Going on that, I'd think its unlikely they'd increase those paying £18 to the new £30 fee. I've also got a lovely Halifax Mastercard which pays 2% on all fuel/supermarket shopping but its no longer available for new customers.

Cashback deals are certainly not as generous as they used to be. Amex isn't half the deal it was, there's now a potential annual fee plus a limit on cashback. Egg still going at 1% but whether that remains now Barclaycard have taken over is anyone's guess.

izools

Mr_K wrote: »

Egg still going at 1% but whether that remains now Barclaycard have taken over is anyone's guess.

Egg are no longer taking new applicants