need something besides a generic HSBC card.

pinoke

Hello!

I've had my HSBC credit card for five years now. It started off as a student credit card and then they converted it into a regular one after I graduated. A year later, I began working for them and they altered my card so that it included a staff rate.

My HSBC credit card has 11.9% APR. At first, I thought it was great! But I always, always pay my balance off in full each month so that low APR isn't any use to me. I then came across the MBNA low rate card which has an APR of just 6.5% and the Tesco Clubcard has an APR of 7.8%

So I guess, what I thought of as a special card isn't really so special. It's quite generic and it doesn't really offer me much of anything.

I'm looking for a rewards based credit card - preferably cashback or vouchers. I'm not eligible for the AmEx and I was declined by Santander

(I have a steady full time job. I have no missed or late payments, no other credit cards. I have one debit card and a mobile phone contract. I'm on the electroll and I have been at my current address for 4+ years. Earning £300 shy of 20k.)

Anyone got any recs? And is it worth me keeping the HSBC card if I get a second one? My monthly spend is only around £350 - which could easily be put on just one card.

Cheers!

pacontracting

pinoke wrote: »

Hello!

I've had my HSBC credit card for five years now. It started off as a student credit card and then they converted it into a regular one after I graduated. A year later, I began working for them and they altered my card so that it included a staff rate.

My HSBC credit card has 11.9% APR. At first, I thought it was great! But I always, always pay my balance off in full each month so that low APR isn't any use to me. I then came across the MBNA low rate card which has an APR of just 6.5% and the Tesco Clubcard has an APR of 7.8%

So I guess, what I thought of as a special card isn't really so special. It's quite generic and it doesn't really offer me much of anything.

I'm looking for a rewards based credit card - preferably cashback or vouchers. I'm not eligible for the AmEx and I was declined by Santander

(I have a steady full time job. I have no missed or late payments, no other credit cards. I have one debit card and a mobile phone contract. I'm on the electroll and I have been at my current address for 4+ years. Earning £300 shy of 20k.)

Anyone got any recs? And is it worth me keeping the HSBC card if I get a second one? My monthly spend is only around £350 - which could easily be put on just one card.

Cheers!

I think reward cards are in the eye of the beholder. For example, the Barclaycard Hilton card is great in that you get a free night if you spend £750 in the first three months. If you don't travel though, then it's a bit useless.

As you mention, if you pay your bill off every month, then interest rate shouldn't be a problem.

Having a staff card could be an advantage as the customer service team are probably going to be sympathetic in your day to day use e..g you may get a better customer experience?

I usually rate reward cards as giving you about 1% back in some form. If you spend £350 per month, that's only about £3.50.

pinoke

pacontracting wrote: »

I think reward cards are in the eye of the beholder. For example, the Barclaycard Hilton card is great in that you get a free night if you spend £750 in the first three months. If you don't travel though, then it's a bit useless.

As you mention, if you pay your bill off every month, then interest rate shouldn't be a problem.

Having a staff card could be an advantage as the customer service team are probably going to be sympathetic in your day to day use e..g you may get a better customer experience?

I usually rate reward cards as giving you about 1% back in some form. If you spend £350 per month, that's only about £3.50.

The few times, I've called up regarding my credit card, the people I've spoken to have been lovely and they always mention the fact I'm staff, e.g. what department I work in, how I'm enjoying my job, ect. And the conversation is generally very relaxed.

I see what you mean, regarding the cashback/rewards card being in the eye of the beholder and that sometimes the rewards can be a little useless like your free night in a hotel example. And when you think about it, getting £3.50 back from a £350 spend doesn't sound like much especially when you don't have a very high spend in the first place. I guess the danger is that cashback cards could tempt people into overspending.

I was looking at the M&S card and the Barclaycard Freedom. For the latter, you have to spend a lot to get even a £5 voucher back. Doesn't seem worth it, hence the reason why I was asking if there was anything better.

Perhaps, I should just wait for something decent to come along as so far, the few that I've looked at don't appear to be worth it.

planteria

in my view, no doubt: you are clearing your balance in full each month so you ought to do your best to get a card which gives you something for your spending.
i have Amex Cashback backed by CapOne Elite, nowadays.
are you sure you can't get Amex Cashback Credit Card? that is great, in my experience:)

pinoke

planteria wrote: »

in my view, no doubt: you are clearing your balance in full each month so you ought to do your best to get a card which gives you something for your spending.
i have Amex Cashback backed by CapOne Elite, nowadays.
are you sure you can't get Amex Cashback Credit Card? that is great, in my experience:)

Yup, definitely cannot get a AmEx. My income falls below the 20k that's in the eligibility criteria. And I can't use a household income figure as I live alone. The same goes for the Cap One Elite/Aspire/World.

My best bet is a card that gives cashback at 0.5% or 1% in vouchers and I don't even shop that much in M&S, so neither are really worth it.

May just have to hang around to see what else comes along.

lr1277

I looked at all my expenditure and found that my supermarket shop was the 2nd highest expenditure per month.
So I got a rewards card with that store. So I now get vouchers based on my spending that I can use in the store. The voucher points do build up as I occasionally have a big spend I put on the card, for which I get the voucher points.
HTH.

pinoke

lr1277 wrote: »

I looked at all my expenditure and found that my supermarket shop was the 2nd highest expenditure per month.
So I got a rewards card with that store. So I now get vouchers based on my spending that I can use in the store. The voucher points do build up as I occasionally have a big spend I put on the card, for which I get the voucher points.
HTH.

That's a great idea. Unfortunately, I'm not loyal to one particular store. I tend to go wherever's convenient due to lack of time and pure laziness. I may take a long hard look at my expenditure and see if I can do all my food shopping at one supermarket. I have an Asda, Morrisons and Tesco near me.

Failing reward credit cards, I may just arm myself with store rewards cards like the Tesco loyalty club card and Nectar card and go nuts. Well, sensibly so!

I scrape in a ton of points with my Boots advantage card so if I can't get a cashback credit card, I can always earn rewards/points with store loyalty cards! It's the next best thing.

Thank you!

reaprr

Halifax clarity credit card gives you a monthly £5 bonus if you spend £300 and pay off in full each month. However you will need the Halifax Clarity current account as well.

The current account has the £100 bonus for switching to it, and also gives you a £5 bonus each month (so £10 total, after tax for both cards) however it does require you pay in £1000 per month and I think you will probably need 2 DDs coming out.

pinoke

reaprr wrote: »

Halifax clarity credit card gives you a monthly £5 bonus if you spend £300 and pay off in full each month. However you will need the Halifax Clarity current account as well.

The current account has the £100 bonus for switching to it, and also gives you a £5 bonus each month (so £10 total, after tax for both cards) however it does require you pay in £1000 per month and I think you will probably need 2 DDs coming out.

That sounds pretty good! I can always get my salary paid into that account. The 2 DDs & the £1000 shouldn't be a problem either. I will definitely look into this one.

Thank you!