New Luma 4% cashback card (supermarkets and petrol)

Alarae

zerog wrote: »

Yes, as 4% is better than 3.5% (Amex) which is better than 3% (Aqua).

If you've already spent money on the Amex then you'll just have to try and spend the remainder of the £3000 on non-supermarket and fuel, as 3.5% is better than 0%

I've got £500 to go to hit the £2000 spend intro offer then got to spend another £1000 until next October to satisfy the cashback. Work out about £100 a month.

So if I get the Luma in theory I can do the monthly shop and petrol on that card for max cashback, switch to Amex after, then Aqua reward after I've spent up to the £3000 limit for the rest of the year.

Looks like the Capital One Classic Extra is being kicked out after my cashback is paid in January

Atidi

theforumking wrote: »

really dont like luma

Eh? What's there not to like?
At least they give you an excuse to get your post count up :cool:

Alarae

Just applied pending further checks. If they dismiss my application due to holding the Classic extra I won't be a happy bunny.

molerat

I got the same on Saturday but have just been accepted with £1.5K, asked for the £500 - £1K, pity I am not going to use it all though DD now set up for full balance. Surprised with being given the full whack as that takes my credit card availability to 175% of my annual income but hey-ho, they must know what they are doing, will net me £6.75 a month over using my standard Cap1 card if managed correctly, just have to remember 2 Cap1 log ins.

From another thread on here

duchy wrote: »

I'd be more embarassed to be seen buying groceries with a creditcard than I would be having it refused at Aldi mind you. I've always felt only the fec kless use creditcards for groceries.

Alarae

That sounds promising then Molerat! I didn't specify a credit limit I wanted as really only need really up to £500 but didn't want to jinx it. Looks like I ended up with a referral anyway, lol.

As for that user complaining about credit cards they would hate me, using credit (and paying off in full each month) for everything and netting myself £200 cashback each year

gregg193

msallen wrote: »

I see the Luma is designed for people with a poor credit history. Are there any downsides to this if you don't have a poor credit history? e.g. Are you likely to be rejected (as you're unlikely to ever pay the extortionate APR)? Will holding this card reflect negatively on your apparent risk to mainstream lenders?

I agree with this.. surely it would look bad if you don't have poor credit and use luma... no?

if not can someone explain it further please

molerat

It will simply show up as a credit card, if a supplier is mentioned it will be CapitalOne.

lisyloo

if not can someone explain it further please

Yes sure.
Those searching do not get to see suppliers.
They might choose to infer something from a tiny credit limit, but that's their choice.

anon_ymous

Just applied for this card. Accepted, subjected to additional checks. Asked for £200 - £300

anon_ymous

Alarae wrote: »

That sounds promising then Molerat! I didn't specify a credit limit I wanted as really only need really up to £500 but didn't want to jinx it. Looks like I ended up with a referral anyway, lol.

As for that user complaining about credit cards they would hate me, using credit (and paying off in full each month) for everything and netting myself £200 cashback each year

I quite literally had an argument with someone at work today, where he mentioned that credit cards are a "headache" "For what? £9/month? " etc... and Im there thinking how hard is it to get your plastic out and pay by card...