Best Cashback Cards Article Discussion Area

gid-fitch

If you are a morgan & stanley card customer you are likely to have been notified that your account has been transferred to Barclaycard, it dosn't mention any changes to terms and conditions but READ the small print, Barclaycard charges an annual fee of £20 when the account is opened!!!! sneaky!!:mad:

I tried to close my account before it was transfered but was told that it could not do anything until the transfer of accounts is complete!

Pinzy

Just reading through the brief terms and conditions for Virgin, and came across this:

"Monthly Minimum Payment: If the balance shown on your statement is less than £25, it will be the total amount of the statement balance; or if the balance shown on your statement is £25 or more, it will be whichever is the greater of £25; or the total of any Payment Protection Cover charges, interest and default charges plus £5."

I read this to mean that I'll get charged the minimum payment, plus £5. What am I being charged £5 for, or is it just what they're charging for giving you credit?

LongTermLurker

Pinzy wrote: »

Just reading through the brief terms and conditions for Virgin, and came across this:

"Monthly Minimum Payment:
If the balance shown on your statement is less than £25,

• it will be the total amount of the statement balance;

or if the balance shown on your statement is £25 or more,

• it will be whichever is the greater of £25;
• or the total of any Payment Protection Cover charges, interest and default charges plus £5."

I read this to mean that I'll get charged the minimum payment, plus £5. What am I being charged £5 for, or is it just what they're charging for giving you credit?

I've split it down to make it easier to read. You're not being charged an extra £5; if the total charges is more than £25, then £5 will be added so you can actually reduce the balance - if they didn't add that in then you might end up only ever paying charges, and possibly not paying all charges.

Hope that's clearer.

Pinzy

LongTermLurker wrote: »

I've split it down to make it easier to read. You're not being charged an extra £5; if the total charges is more than £25, then £5 will be added so you can actually reduce the balance - if they didn't add that in then you might end up only ever paying charges, and possibly not paying all charges.

Hope that's clearer.

"ooooh yeeeeaaaaaaaah" had to think about that, but yes, one's minimum payment will be interest + PPI (which I'll be foregoing) + £5 which'll come off the balance. Goddit. Thanks.

plzhelpmesave!

hi

cashback help plz! have an egg money card that i hardly use - only took it out to transfer some money from a 0% card. But was thinking may as well use this for my day to day spending and clear it off each month. I know it is only 1% cashback, but is there a way of getting that figure up by transferring money in and out of the account?

Not even sure if i am making sense or how to do it (help plz!), but this is what i was thinking:-

have just over £2k in my lloyds current a/c - was going to use this to pay off my credit card when 0% expires in november
Could i transfer this money to my egg money account to get cashback on it? leave it in the egg for a few days and then pay off my card (or transfer to hubbys egg money account first to get max cashback).

Would this work or am i just making this up??

thanks for any replies and sorry for the confusing post

boobbby

plzhelpmesave! wrote: »

hi

cashback help plz! have an egg money card that i hardly use - only took it out to transfer some money from a 0% card. But was thinking may as well use this for my day to day spending and clear it off each month. I know it is only 1% cashback, but is there a way of getting that figure up by transferring money in and out of the account?

Not even sure if i am making sense or how to do it (help plz!), but this is what i was thinking:-

have just over £2k in my lloyds current a/c - was going to use this to pay off my credit card when 0% expires in november
Could i transfer this money to my egg money account to get cashback on it? leave it in the egg for a few days and then pay off my card (or transfer to hubbys egg money account first to get max cashback).

Would this work or am i just making this up??

thanks for any replies and sorry for the confusing post

You dont get any cashback by paying money into the egg money account although you will get 4% interest when you get into credit (much more than you will get in a lloyds current account) The cashback is given when you buy goods or services with your card, additionally when you buy from certain retailers (dixons for example) you also get an additional instant cashback. When your card is in credit you can also use it to draw cash without charge from a cash machine. The 1% soon adds up but it important you pay off any debits each month or the card loses its value!

plzhelpmesave!

thanks bobbbbly - will shift the money from current a/c to egg until november.

bennyvdb

I've got an Amex Platinum!
Anybody know who will take it?
Everytime I ask 'Do you take Amex' they shake their head and say 'No'.
I don't bother anymore, it's embarrassing!

ajspipers

Was considering applying for an Amex Platinum Cashback card but have got stuck (in the throat) on their Privacy Policy contained within their Credit Card Agreement:

23.2 We, other companies within the American Express groups of companies worldwide (including other organisations who issue the Card), companies who distribute the Card and other companies specifically selected by us will have access to and will use information about you and how you use your Account to develop lists for use within the American Express group of companies worldwide (including other organisations who issue the Card) and [by] other select companies in order that we or these companies may develop or (unless you ask us not to) make offers to you (by mail, email, telephone, via the internet, or by SMS) of products and services in which you may be interested. The information used to develop these lists may be obtained from the Application form and process, from information on where you use and what charges are on your Card, from surveys and research (which may involve contacting you by mail, email, telephone, via the internet, or by SMS) and from information obtained from other external sources such as merchants or marketing organisations, to the greatest extent permitted by law.

I've enboldened the scary bits. I'm sure we all recognise that companies will process information we tell them throughout their own organisations but this is the first time in a long time that I've seen a company brazenly declaring it may pass on everything it knows about us to third parties of its choosing and we can't stop them.

Note that we can prevent any company from sending us marketing information but not the passing of our personal data to those companies in the first place!

I'm in my second year of Capital One's 1% Cashback and I could be gaining an extra £200 or so over the next year by switching but I won't be doing so now!

coolio_2

How can I see my cashback online with Amex?