Best Cashback Cards Article Discussion Area

lovethymini

We've just got our 4% cashback cards from Capital One, and our first statement shows that there is no interest free period. I've not had a credit card for a few years; is the 56 interest free day feature a thing of the past?

It rather defeats the attraction of using a cashback card when they deduct interest even when you pay it off in full every month!!

I'm clearing the card on a regular basis to minimise the interest. Just wanted to warn people to look out for this little "feature"!

LongTermLurker

lovethymini wrote: »

We've just got our 4% cashback cards from Capital One, and our first statement shows that there is no interest free period. I've not had a credit card for a few years; is the 56 interest free day feature a thing of the past?

It rather defeats the attraction of using a cashback card when they deduct interest even when you pay it off in full every month!!

I'm clearing the card on a regular basis to minimise the interest. Just wanted to warn people to look out for this little "feature"!

You do get an interest free period on purchases (don't know the individual period for cap1.

You should find a line somewhere that says something like "you will not be charged interest if you repay the full balance by the due date. You will always be charged interest for cash withdrawals from the date the transaction reaches your account".

lovethymini

thanks long term.

Having read the entire page of small print I now know that we've got a maximum of 45days interest free when we pay the full balance.

Phew! Must remember not to panic like that.:D

burbb

Hi
Just wandering how long it takes to for the egg money credit to be sent out.
I was accepted over a week ago and now sign of the card yet.

Anyone else accepted recently and had the card sent through?

Niemand

Dave85 wrote: »

I've been looking into this article today... Of the cards in the latest version:

Barclaycard - The rate is 0.5% "which is easily beatable" (according to the article)

Barclaycard is offering 4% cashback on all spend (up to £15 cashback per month) until 30th September 2008. After that the cashback drops to 0.5%.

[Ignore my Subject header, I typed 5% instead of 4% by mistake]

andersoc

burbb wrote: »

Hi
Just wandering how long it takes to for the egg money credit to be sent out.
I was accepted over a week ago and now sign of the card yet.

Anyone else accepted recently and had the card sent through?

hi burbb, i'm still waiting over a week later too. I can log in to the Egg website and see my card number and credit limit etc but not a peep from Egg!

kilbmw

Working out which type of card is best for you is a bit confusing.

Do the best cash-back cards, (paying off your full balance every month), save you more money that the best interest-free cards, (paying off the minumum amount every month and investing the balance in a savings account), for a monthly spend of, say £1000.00?

merch

My Morgan Stanley is due to expire in a couple of months. Can any existing or previous holders of this card tell me what will happen next?
Will Barclaycard automatically replace it with one of their cards? If so, which one?

Thanks.

simonhunter87

steviehud37 wrote: »

Hi

Just applied for egg money(cash back card) and have been approved on line

Now i want to make some money!!

I have all my monthly bills paid by direct debit and was wondering if i use my Egg money card instead of direct debit.Set up continuous Credit card (similar to direct debit but give them egg money card number instead of bank account details)

I was just wondering if any one has used their Egg money card to pay off your mortgage on a monthly basis just to get 1% cash back

Also thinking paying my Council tax,phone bill and possible my gas and electric

Could anybody give me advise or experience of what they have done with their egg money card instead of just the usually stuff ie shopping

Thanks

Stevie

i use egg money and wen i tried to setup a continuous credit card mandate it failed (for paying my 3 mobile phone bill) - not sure y as all the details wer correct but it failed authorisation every time so maybe egg dont allow it?

zebedy

So, I had a Morgan Stanley Platinum credit card which back in the day was the best cashback card giving 3% initially.

I'm currently using the Amex Platinum and am still in the 5% initial period, but it isn't accepted everywhere so I like to have a back-up.

I discovered that my Morgan Stanley card was now only paying 1% on the first £2000 spent per year then dropping to 0.5% , whereas egg money would give me a flat 1%.

So i've applied for the egg money card and am waiting for the paperwork.

I phoned Morgan stanley to cancel the card and discovered that they had been taken over by goldfish a while back and now more recently by Barclays. I told the customer service guy that I wanted to cancel the account as it was no longer the best cashback card and he said would i hang on to it for a month or 2 until barclays contacted me to tell me what their cashback deal would be. I ummed and ahhed and he said he'd credit the card with £15 if i didn't cancel so i said sure thing! lo and behold the £15 pound was credited the very next day.
So I'll hang onto the card for a bit (spending only £15 on it) and see what Barclays say and if their offer is any good and if not will cancel it.

In the meantime I'm still using my Amex as my primary card and will use egg money as back-up.

Don't you just love it when people give you free money with no strings!!