Silver Mastercard

izools

Just had a chat with Creation about my Silver Mastercard.

Had been sat in a drawer for ages with them steadily increasing the limit... £2190 now. Had to call them as I had an unexpected refund back to the card so had to arrange for that to go in to my current account.

Whilst I was on the phone I asked them to close the account - they offered me 1% cashback on Purchases for £1 a month, which I thought is alright. Worth staying.

So have set up DD for full amount and reduced limit to £500 (about what I spend on my debit card each month anyway), be nice to get some cashback

Happy times. Wonder which card I'll be using for my christmas spending this year... would like it to be a Barclaycard 11% cashback card but for someone with my credit history? I'm a happy bunny with Creations offer! :beer:

chanz4

I had the flybe £1 offer, it was good made quite a bit out of it the baslance transfer offer was naff though.

simax

They increased the limit without the card being used?

OllyM

Why didn't you leave the limit at £2190 to give you some flexibility?

izools

OllyM wrote: »

Why didn't you leave the limit at £2190 to give you some flexibility?

This way I can be sure to keep my spending within what I can afford to repay in full each month to benefit from the cashback. And at 24.9% APR I'd not even consider carrying a balance.

Besides, across my two Creation cards, Overdraft, and Capital One card I had £5630 total credit limits which is somewhat excessive I think considering I have a loan out at the mo. This has kinda prompted me to have a cleanup so I'm porbs gonna close my two other cards altogether.

The most recent limit increase came after the card not having been used for a couple of months, yes, although I had used it since the prior increase.

chanz4

what your getting rid of creations cards, I can remember when you were trying to get as many as poss lol

izools

Yeah, I've had them for nearly two years now, and at the time I had no active accounts beside bank account and mobile phone (and some sub prime rubbish card). I've now built up nearly two years clean history on them and with the presence of a Loan on my credit file I a) want to keep my exposure to credit as low as possible, and b) have the Loan building positive repayment history anyway, so there's little need for a credit card.

I think I'm doing all the right things, what I've been doing so far has worked well so here's hoping!

You're right, there was a spate where loads of us were collecting Creation cards like souvenirs lol :beer:

jd87

izools wrote: »

Whilst I was on the phone I asked them to close the account - they offered me 1% cashback on Purchases for £1 a month, which I thought is alright. Worth staying.

So have set up DD for full amount and reduced limit to £500 (about what I spend on my debit card each month anyway), be nice to get some cashback

Enjoy your £4 per month (maximum) profit. Don't spend it all at once...

izools

jd87 wrote: »

Enjoy your £4 per month (maximum) profit. Don't spend it all at once...

Well it's hardly as if cashback cards are known for providing a massive amount of profit, are they? Lol. £4 a month is better than £0 a month and it is precicely this premice - small gain is better than nil gain - that is used when taking out 0% purchase cards, cashback cards, and the like.

Besides which, there's nothing stopping me paying off the card several times throughout the month, this way it simply ensures I can't ever hold a balance outweighing what I can afford to repay in one lump.

Sensible, no?

chanz4

its free money