silly little amounts on credit card??

B19JON

I use my credit card for everything. ( apart from buying lottery tickets)
I hardly take my debit card anywhere. Only time I draw out cash is if I want to get a bacon & sausage roll from a cafe!
It's nice having the money in the bank gaining interest. ( not a lot mind)

ic

My Barclaycard cashback card rewards me with a higher rate of cashback on the five largest transactions in the month, if I make a minimum of 15 transactions in total. So I use it for five larger purchases in the month like insurance, tank of fuel, clothes, etc, then use it for ten small purchases - 20p kindle books, sandwich, etc. They encourage you to do this!

At the end of the day, the credit card company gets to cream 2.5%+ of the transaction value as their fee to the retailer - they want you to use the card more! For retailers, the bonus is they have less small change to count, and risk having stolen.

sharpy2010

zerog wrote: »

I regularly use my card(s) to pay for items 9p and under (this is usually online)

Are you having a laugh?!

analyst_2

ic wrote: »

20p kindle books, sandwich, etc. . . . the credit card company gets to cream 2.5%+ of the transaction value . . .

They do, of course, have to employ an army of people to work out how much is 2.5% of 20p . . . or maybe they just ask a 10 year old :rotfl::rotfl:

sharpy2010

ic wrote: »

For retailers, the bonus is they have less small change to count, and risk having stolen.

Don't forget to factor in for retailers the cost of accepting cards, so they're not always benefitting from having a card presented instead of cash.

JimmyTheWig

InsideInsurance wrote: »

On the basis you say lenders I assume you are thinking of companies other than the card issuer in which case this would be wrong.

I assumed that they meant lenders in terms of their credit card issuer, my credit card issuer, your credit card issuer, the OP's credit card issuer, etc.

psychic_teabag

Some shops have notices up that card payments are allowed only for £5 or more. I got the impression from somewhere that the cost to the shop for the transaction is something 5% of the transaction, with some minimum. I had assumed that £5 was the switchover point (making the min cost of the order of 25p).

I tend to use cash for less than £4

exel1966

Cash! What's cash?

Put EVERY spend on your credit card (if accepted), no matter how small, no matter where you are. Join ANY affiliate program that suits you and get something out of it whilst your spending.

InsideInsurance

JimmyTheWig wrote: »

I assumed that they meant lenders in terms of their credit card issuer, my credit card issuer, your credit card issuer, the OP's credit card issuer, etc.

Then why are you using the singular rather than the plural that the other poster did? One cards spending is seen by one lender. If lenders are being considered for that cards spending we are talking CRA file which doesnt show transaction level data

JimmyTheWig

InsideInsurance wrote: »

Then why are you using the singular rather than the plural that the other poster did? One cards spending is seen by one lender. If lenders are being considered for that cards spending we are talking CRA file which doesnt show transaction level data

My credit card issuer sees my purchases. Your credit card issuer sees your purchases.
In general terms, credit card issuers see the purchases of their customers.