Aqua Reward Credit Card - 3% cashback up to £100/year

Scrounger

DragonQ wrote: »

It seems as if the Nationwide Select Credit Card does everything the new Aqua card does (0.5% cashback, no foreign transaction fee/load), plus it has 0% interest on new purchases for 15 months.

Can you have more than one Nationwide Credit Card (I already have a Reward Visa which pays 0.25% cashback + extended warranties)?

Anybody have more than one Nationwide card?

Thanks in advance, Scrounger

patrickbateman

Just had my annual statement, and my total cashback is £100, hoping I can get a little extra cashback before the account ends in January, guess 3% was too good to be true

Hominu

tali wrote: »

The Asda card says "Saving up to £144 means a bonus of £6" which means 4.17% ?

Plus the 3% cash back from Aqua on the £144.

I did try and qualify it by stating the amounts underneath the percentage.

aleph_0

My letter arrived today. Sorry if someone mentioned this already, I noticed the use of the phrase "if you are accepted" for the new card, so they are treating the 0.5% card as a new application.

Don't think I'm going to take them up on the 0.5% card, I already have two other cards offering the same cashback, uncapped, with much higher limits.

Graham1

The T&C do say the cash back is rounded down to the nearest multiple of £5 - so if anyone is approaching their anniversary date it's a good idea to check if this will impact you. Also between then and 21-Jan-2014 if you are not applying for the replacement card account.

boobbby

Seems some people think that to buy gift cards, stamps and other items that take a year to use so they can get 3% cashback. Much simpler to put their money in a current account where you can get 3,4 or even 5% interest. Wont suit everybody as you have to make monthly payments to these accounts but worth considering.

blitzboy

boobbby wrote: »

Seems some people think that to buy gift cards, stamps and other items that take a year to use so they can get 3% cashback. Much simpler to put their money in a current account where you can get 3,4 or even 5% interest. Wont suit everybody as you have to make monthly payments to these accounts but worth considering.

I agree. I Think anything more than enough to cover a months shopping on gift cards is excessive myself. I certainly won't be spending more than that.

Atidi

boobbby wrote: »

Seems some people think that to buy gift cards, stamps and other items that take a year to use so they can get 3% cashback. Much simpler to put their money in a current account where you can get 3,4 or even 5% interest. Wont suit everybody as you have to make monthly payments to these accounts but worth considering.

blitzboy wrote: »

I agree. I Think anything more than enough to cover a months shopping on gift cards is excessive myself. I certainly won't be spending more than that.

I don't agree.

Other than the government backed safety of bank savings (but if Tesco go bust in the next 12 months, I think we'll all be going to hell in a handcart), what is the point in applying for a new bank account, leaving the money in there for 12 months (as well as making minimum monthly deposits) just to earn 3% in 12 months time, and then have pay tax on it???

I could buy some gift vouchers, use them anytime I like (even for Christmas pressies) and get my 3% cashback in full, taxfree, early February

Hominu

boobbby wrote: »

Seems some people think that to buy gift cards, stamps and other items that take a year to use so they can get 3% cashback. Much simpler to put their money in a current account where you can get 3,4 or even 5% interest. Wont suit everybody as you have to make monthly payments to these accounts but worth considering.

It takes a year to get that, and you have to leave the entire amount in (no withdrawals) to get it, plus, for most people, you'll get 2.4%, not 3%.

Secondly, assuming your shopping is £60/week thats £240 per month or £2880 per year. Withdrawing from that 3% account @ £240 per month would give you £53 interest after the year, so 1.84% Net interest on your balance.

I'm excluding the 5% interest account as you can now only have one, and most people have that used for other things already.

Now, the alternative is that you can purchase £2880 worth of vouchers on the 21st January, and get 3% cash back on the 22nd. I'm sure you'll now agree that its a far higher return for less effort.

neilsedaka

Atidi wrote: »

I could buy some gift vouchers, use them anytime I like (even for Christmas pressies) and get my 3% cashback in full, taxfree, early February

Exactly. In our case, my wife's Aqua cashback anniversary is 19th January, so anything spent up to £3333.34 on the 20th and 21st will earn 3% which will be received two weeks afterwards. The interest rate, up to 68% I make it, depends on when those gift vouchers etc. are redeemed.