Santander Cashback Card - Rubbish Offer

Butterfliesarepretty

I put a cheque in my branch on saturday and after I deposited it the lady said have you heard about our new cashback card, she said you get 2-3% back on your purchases for petrol and groceries.

So i went and sat with guy who brought my details up. He asked how much I spent per week on petrol, £15 quid I said, how much on groceries, I said £25.

He then said the card would cost £24 a year. :eek:
told him forget it.

Told him I get better rewards from shopping though quidco.

Gromitt

To be honest, it says the same on their website, and on this website on the 'cash back credit cards' section. I assume you have read neither?

chanz4

It can be worth while if you spend a lot, but if not its not worth it and better offers about. sygma charge £12 for 1% back

Butterfliesarepretty

Gromitt wrote: »

To be honest, it says the same on their website, and on this website on the 'cash back credit cards' section. I assume you have read neither?

Says the same on who's website Santanders??? Or quidco??

I didnt opt to take one I was offered it while I was in the branch, and as soon as they said they were going to charge I said no.

And no I didnt research on here before i went in because i just went in to deposit a cheque and thats all I visited the branch for. I hardly ever go in bank branches.

Gromitt

Santander and MoneySavingExpert.

So yes, we know it costs £24/year, so your post isn't really a surprise. Thats what I meant to say.

The Capital One 1% back for free is still the best card IMO, but requires a 'perfect' credit history to get and your own house.

ses6jwg

Martin Lewis himself said on GMTV that the fee should not put people off but they need to do their homework first to see whether it is worth their while.

I sell these cards day in day out - they have been extremely popular. Yes for a minority of people such as widowed pensioners or single people with no cars, the card is not worth it, but I've sat with people who have had savings up to £200 per year AFTER the fee.

For the majority of people, the saving seems to be around £60 per year AFTER the fee.

adindas

Capital one offer 5% cash back for the first three months with no subscription fee.

There is already a thread about this Capital One offer

https://forums.moneysavingexpert.com/discussion/3664581

Deru

Gromitt wrote: »

Santander and MoneySavingExpert.
The Capital One 1% back for free is still the best card IMO, but requires a 'perfect' credit history to get and your own house.

FYI...

If you mean the World Mastercard, I just got it and only just discovered the following...

• 0.5% cashback on all subsequent purchases up to the next £5999.99
• 1% cashback on all purchases from £6,000 to £9999.99
• 1.25 cashback on all purchases from £10,000

oh and it's on Top Cashback and no annual fee so no big deal. The 5% for the first 3 months will get you max of £100 if you spend £2000, which I'll manage.

As for the Santander, I'd already deduced that it's not worth it for me BUT if you spend a lot of petrol, at supermarkets and in department stores, you could easily earn back that £24 you pay as a fee so it's not bad for everyone. I have a combinatination of cashback cards so can't make the Santander worth my while.

Gromitt

They did one that was 1% on everything (rather than 5% then 0.5% tiered), but looking at the site, it seems it has been discontinued and now they just have a selection of cards based on your credit rating.

mclaren32

Yep it's an awful deal, it cost me £24 on my first statement and I have only just recouped that cost 2 months later, that and they won't charge me interest if I pay in full.

Truly awful!