Aqua vs Halifax Clarify

mrchagle

Hi there.

I have both the Aqua Credit Card paying 3% cash back with a £500 credit limited

I also have the Halifax Clarity that credits your account with £5 when you've spent £300

These are paid off in full each month.

I believe I'm better off using the Aqua card to receive the 3% cashback, even if it's just £300 spent.. are my sums right? :-)

opinions4u

£15 is bigger than £5.

YorkshireBoy

The max 'cashback' on Halifax is 1.66% (12 x 5 / 3,600 x 100).

Spend any more than £300 a month and this figure reduces.

Re the Aqua card...with a £500 credit limit, unless you make an interim (ie mid month) payment to the account you may be overlimit towards the end of the second month so be careful.

mrchagle

My plan with Aqua, pay interim payments during the month to max the cash back! So Aqua would be the way to go..

I only wanted to the card for the cashback.. I Have other CB cards at 0.5% but what with making interim payments to the Aqua hopefully to be quids in!

Gromitt

It depends on your monthly CC spend. If its says £600/month or more, then you may be better off spending £300/month on Aqua, and £300/month on Halifax Clarity. You'll max out the Aqua within 11 months, and get a bonus of £55 from the Clarity. Might be easier than making interim payments to the Aqua.

mrchagle

Thanks ... I do like the idea of making money from these things.....

weebit

with Aqua, the maximum cashback is £100 a year. you need to take this into account when using it. Therefore, once you've spent £3333.34 a year on it, switch your spending to other cards.

That's my plan. I'll switch to my capital one card with 1% cashback

Gromitt

weebit wrote: »

with Aqua, the maximum cashback is £100 a year. you need to take this into account when using it. Therefore, once you've spent £3333.34 a year on it, switch your spending to other cards.

Bad idea, as the cash back is rounded down each month and therefore you might only get £95 at the end of the month. I intend to keep spending until my statement says I've £100 and then stop (which'll probably be about £3335).

mrchagle

Gromitt wrote: »

Bad idea, as the cash back is rounded down each month and therefore you might only get £95 at the end of the month. I intend to keep spending until my statement says I've £100 and then stop (which'll probably be about £3335).

That's exactly my plan! :money: