Is a credit card worth it for me?

w00519772

I have a good credit history and do not really use credit cards.

However, I have discovered options that offer 3% cashback (Santander) and 5% cashback (American Express).

I get 3% interest on my current account. Therefore I was thinking about opening a credit card account with Santander; pay the £24 fee and then earn the cashback.

Do other people do this? i.e. have a credit card and pay for stuff on it rather than the debit card?

I am particularly interested to hear from Santander customers.

YorkshireBoy

w00519772 wrote: »

I get 3% interest on my current account. Therefore I was thinking about opening a credit card account with Santander; pay the £24 fee and then earn the cashback.

As a 1-2-3 current account customer, you'll get the fee waived in the first year...providing you meet the T&Cs, including paying by DD from the 1-2-3 account.

w00519772

I notice that American Express offer a 5% cashback option: https://www.americanexpress.com/uk/platinum-cashback-credit-card/dual/?sourcecode=MULT000221&cpid=100122274&veid=sb6WrOB8D|dc_pcrid_36835416914_plid__kword_american%20express%20platinum%20cashback_match_e. Do people open accounts to benefit in the first three months, then close the account?

YorkshireBoy

w00519772 wrote: »

I notice that American Express offer a 5% cashback option: https://www.americanexpress.com/uk/platinum-cashback-credit-card/dual/?sourcecode=MULT000221&cpid=100122274&veid=sb6WrOB8D|dc_pcrid_36835416914_plid__kword_american%20express%20platinum%20cashback_match_e. Do people open accounts to benefit in the first three months, then close the account?

Since the Amex cashback isn't paid until the first anniversary, closing the account after 3 months would be an incredibly stupid thing to do.