Best credit card rewards

jacquih1

I have a new job n need a credit card. I will be spending circa £6000 per year and want some advice on which credit card gives the best rewards, not interested in airmails or free flights, but some kind of points rewards, am finding it all very confusing! Thanks in advance.

The_Boss

There's a link at the top of this page. Read up on these

Barclaycard
American Express
Aqua Reward

http://www.moneysavingexpert.com/credit-cards/cashback-credit-cards

JakeGreen

To add to the three above I use the Santander 123 for 3% cashback on fuel and 1% on groceries.

jacquih1

Thanks, I am finding all the information confusing. Have been looking at marks and spencer and amazon etc, which one is the best for collecting rewards points n then converting them, also don't want to pay an annual fee. Thanks

zerog

What do you want to use your points for? Are you against paying an annual fee if the points you earn are worth more than the fee?

grumbler

jacquih1 wrote: »

Thanks, I am finding all the information confusing. Have been looking at marks and spencer and amazon etc, which one is the best for collecting rewards points n then converting them, also don't want to pay an annual fee. Thanks

Get Aqua Rewards for both you and your AH (you'd be a second cardholder). That's unbeatable 3% pure money no-hassle cashback on 2*£3.3K annual spending.

Any

jacquih1 wrote: »

Thanks, I am finding all the information confusing. Have been looking at marks and spencer and amazon etc, which one is the best for collecting rewards points n then converting them, also don't want to pay an annual fee. Thanks

All the ones you mentioned work on principle of collecting points!!!
The question is, what do you want to be able to spend them on???

M&S - you will be able to spend your points in M&S. If you shop in M&S a lot you will get more points there.

Amazon - You will be able to spend your points on Amazon website. If you shop at Amazon you get more points for any purchases on there.

I have Tesco - I collect Tesco points, just like on my Tesco card. Those I then exchange for rewards, just like my normal Tesco card points.

I also have Nectar American Express - I collect Nectar points. Those I can spend at Sainsburys, Argos, at cinema... many different places.

There is more of those. But first you need to know what you want. It might be great to have lots of M&S points, but if you don't shop there they are a bit useless, don't you think?

And then you have cashback cards. That actually offer hard cash. Usually just once a year though. Which I don't like.
My Nectar American Express card gives me points to spend every month. I like that better.

Brand

grumbler wrote: »

Get Aqua Rewards . . . That's unbeatable 3% pure money no-hassle cashback on 2*£3.3K annual spending.

I have a £250 limit, but the first catch with this card is that it does not refuse you if you go over that limit, but lets you make the purchase, then hits you with the £12 fine. I then found that it refuses some purchases, accepts other purchases, so in practice for people on a tight budget it looks not very good at all, unless they keep a journal and treat it like a £150 limit.
It thus uses a rolling total, not a bill total, so even if you pay the (previous) bill completely, and stick to a £250 "per month" budget, you will probably get fined.
The other catch is that once you get fined you forfeit all cashback not just for the bill in question but for a year.
To me, a credit card should just refuse a purchase if it exceeds the credit limit, so I think this is a duff card for many people, but might be good for £150 per month spenders.

grumbler

Brand wrote: »

I have a £250 limit, but the first catch with this card is that it does not refuse you if you go over that limit, but lets you make the purchase, then hits you with the £12 fine.

You are the first one saying this; all other reports so far were opposite.
That said, my limit is £500, but personally I'd never rely on any card stopping me from going over my limit. Aqua is the rare one that usually does this.

I then found that it refuses some purchases, accepts other purchases,

Never happened to me over 8 months - and it's my main spending card.

so in practice for people on a tight budget it looks not very good at all, unless they keep a journal and treat it like a £150 limit.
It thus uses a rolling total, not a bill total, so even if you pay the (previous) bill completely, and stick to a £250 "per month" budget, you will probably get fined.

You can make extra payments, then have your statement balance taken by a DD thus putting your card in credit and increasing the spending limit.

To me, a credit card should just refuse a purchase if it exceeds the credit limit,

I don't know any other CCs that do this.

Brand

I am just warning that in my view this card is unsuitable for a couple unless they are able to cooperate closely to journal their spending, and that even if you stick to a £250 per month budget and pay off in full, you can still be hit with £144 p.a. in fines and removal of all cashback. As the guy from Plymouth also found, Aqua can hit you mid-period with interest, not add it on at the time of the bill, then that is also taken account to the total to push you over a limit and get you a fine.
This card is suitable only for an individual who is desperate for a card to take advantage of a few online purchases or some small routine restricted payments such as a small rail commute.
If a financial advisor advised this card for someone as a more general card, I would say this is mis-advice.

grumbler

The OP needed a card for spending £6000 p.a., possibly for job-related spending. That's why I suggested using his card first to spend £3K, then his OH's card.
If it's for family spending, he can use his card, the OH can use hers. As simple as that.
And it's very easy to spend more than £250 p.m. on a card if you make extra payment(s).
And £250 limit is not common. Some people get £1.6K.

Re the 'guy from Plymouth' this is just some misinformation from a person not intelligent enough for paying the balance in full to avoid exorbitant interest.