Which Card to Use?

Alarae

I hope someone can help me with what my best option is.

I currently spend the first £300 of each month on my Halifax Clarity, to get the £5 reward. After I hit this, which card shall I use?

Amex Cashback Everyday
Tesco Clubcard (Currently 0% Purchases)
Nationwide Select - 0.5% cashback

I do also have a Capital One Classic Extra but I'm looking to cancel that on the card anniversary in January.

I pay off in full each month. Can anyone advise what the best way to maximise rewards on my spend would be? Now I got the Tesco card I'm unsure if the points value outweigh the cashback. Right now I only use it in Tesco for the bonus point spend. I'm currently on the highest tier of spend with Amex but that will go down at the end of this month as it is the card anniversary.

YorkshireBoy

What's your total spend per month?

Alarae

YorkshireBoy wrote: »

What's your total spend per month?

There isn't as much of a fixed total since all joint spend with my partner (or anything he wants to buy online) and I also goes through my cards but he then gives me half back.

I would estimate maybe around £600 on average but higher around celebrations like Christmas and a one off holiday next year.

Plus an extra £500 once a year for car insurance..

YorkshireBoy

Not sure what your 'go to' rate is on Amex, but how about killing two birds with one stone on Tesco?


Just make the minimum payment and save the rest in a regular saver (assuming you've 18-19 months 0%?).


Anywhere between 1% and 2-4% (boost and deals) restrictive cashback and a bit of savings interest too. With the right regular saver (4-6% is available), you could be looking at a much better return...if you can be bothered?

Alarae

YorkshireBoy wrote: »

Not sure what your 'go to' rate is on Amex, but how about killing two birds with one stone on Tesco?


Just make the minimum payment and save the rest in a regular saver (assuming you've 18-19 months 0%?).


Anywhere between 1% and 2-4% (boost and deals) restrictive cashback and a bit of savings interest too. With the right regular saver (4-6% is available), you could be looking at a much better return...if you can be bothered?

As long as I know the right route to follow, I'm happy to follow the route which brings me the best return! I do already max out the First Direct regular saver though each month, so I could just keep the money aside in my TSB plus accounts for now.

The only issue I have is my limit on my Tesco card is quite small- only £1500 so I would have a hard time stoozing for the entire period with my spend. I probably got a low limit because my Amex and Halifax are about 7k combined and I only have an annual salary of around 20k. I should really ask Halifax to reduce my limit so my credit exposure is lower..

My Amex Cashback rate is tiered, so 0.5% for the first £3000, 1% for the next amount then 1.25% on everything i think over £5000? I should really read up on it.