New Cashback trick?

andrew.london

Hi

Just received my Natwest 2% cashback debit card. I was thinking about just buying everything on this now, as opposed to the Egg 1% mastercard... but (and forgive me if this has already been discussed on here..) surely it makes sense to keep spending on the Egg mastercard and then continue to pay it off in full each month with the Natwest 2% cashback debit card??!! Maximising some 3% cash back!?

Thoughts?

oldagetraveller

I'd check NatWest's ts & cs as to whether paying to a credit card debit balance qualifies for the 2% cashback. I suspect they've thought of that one and got it well covered?

nomoneytoday

Does the 2% apply to all spend, or just "grocery shopping" for example?

HappyMJ

You can earn a maximum of £125 over the 6 months. That equates to £6,250 of spending. About £240 per week.

T's and C's state

This offer does not apply to: (a) ATM withdrawals; (b) point of sale cashback at a retailer; (c) money transfers; (d) gambling transactions; (e) electronic cash transfers; and (f) branch counter withdrawals.

I would take a guess that paying a credit card is counted as a money transfer.

andrew.london

Saw that in the T&Cs but my thought would be that money transfer refers to shifting actual cash between current accounts (e.g. payments to other Natwest accounts or external bank accounts). Could feasibly be covered within "electronic cash transfers."

Bottom line, I guess, is whether they pay that cashback into my account at the end of the month. If not then I'll just switch to using the Natwest card, if not will continue with the strategy.

burnsy89

would that not be classified as a balance transfer? and if so would there not be a balance transfer fee?

madgagoo

burnsy89 wrote: »

would that not be classified as a balance transfer? and if so would there not be a balance transfer fee?

Nope, it's just a standard debit card payment.

mrmajika

I'd also like to know the answer to this, in order to do something similar. If the OP could keep us updated, that'd be great.

Cheers.

andrew.london

Hi, yes will do. Importantly I've just been accepted for the Capital One 5% cashback card so will be using the 2% Natwest card to pay this one off in full each month if my experiment works paying the Egg World Card off! That would give me 7% cash back!!!

Beat that !!

andrew.london

Hi all - just had the first Cashback paid in and it has included the money paid to Capital One and to Egg to clear those cashback cards in full! So I've secured the 'additional cashback'!! They come through as POS (Point of Sale) transactions on the card statement thus qualify!!