May jump off the CapOne ship, just not sure where to

derelyth

Hi all,

I've had an Aspire World since July '12 (expiry this July) and with the loss of CB, the only thing keeping me with the card is my limit which whilst not huge is comfortable.

I budget, pay it off in Full by DD every month so a Reward/CB card is the way forward for me I feel.

I have two other cards, one mine and another named - my old Lloyds Student (LTSB days, never used now - £750 limit) which I still have open and I am a cardholder on my Dad's Barclaycard Freedom (Used rarely).

I'm curious as to where the best returns can be had so do have a few questions as to how best to proceed.

1) What would people suggest?

2) Is it worth keeping my old Lloyds CC open?

3) If I found a card to move to, is there a specific process I should use (When to apply, when to close others etc)

4) I've seen the odd mention of a Barclaycard Cashback cardset (Amex and Visa) which looks ideal, though the only way I've seen people have had it was by being upgraded - upgraded from which card?

I know Lloyds now offer a Cashback cardset but they charge £24 a year for it so I'm not sure how worthwhile it'd be. I'm also not sure how beneficial the likes of the Barclaycard Freedom are. I spend on average £3k a year (though I would clarify this by looking over my last years' statements).

Normally anything £10+ (definitely £20+) goes on the card as I have cash spread across multiple bank accounts so keep cash-flow to a minimum, monitored through a spreadsheet.

Any advice would be appreciated.

Thanks

Karl

Candyapple

http://www.moneysavingexpert.com/credit-cards/cashback-credit-cards?&_ga=1.223267480.2042827854.1428406689#amexeveryday

derelyth

Thanks Candy - I've had a look at the Amex card, though the only thing that makes me shy away from it is the minimum £3k annual spend to qualify for CB coupled with the fact Amex isn't accepted everywhere. It is on my list though!

Candyapple

Santander 123 card? Assuming you spend enough in their various categories, the cashback you earn might be more than enough to offset the £24 annual fee.

http://www.barclaycard.co.uk/personal/customer/cashback/guide

derelyth

The Santander card was one I considered before I applied for the CapOne however only the fuel CB would benefit me and by current expenditure (~£90/m) I'd clear ~£8.40 after the fee and get nothing for my other spending.

Similar reasoning for the Lloyds cards, I don't know what the returns are.

I notice you linked to the Barclaycard CB cardset (a link I found and the one that got me intrigued). Is this an existing-customers only thing do you know?

Cheers

Karl

Candyapple

https://forums.moneysavingexpert.com/discussion/5213874

derelyth

I saw that thread too. No clear indication of whether new customers can apply so I have asked. Still curious as to what's best to do with my other card(s) though.

Candyapple

I had another idea, what about the Halifax Clarity Reward card? You get £5 per month when you spend £300 per month on it. You would need to have a Halifax bank account with them though, however you could earn an extra £5 per month with that too if you meet the requirements so £10 per month total = £120pa.

If you don't have a Halifax account, you'd get £100 (might be £125 now) for switching to them.

Candyapple

Also, you only have 2 cards: Lloyds and Cap 1 as the one you are an additional card holder does not get reported to your files so has no effect.

If you are looking to close your Cap 1 then it's always good to have a back-up card in case anything happens.

Or you could apply for 2 new cards (cashback or otherwise) and then close the Cap 1 and Lloyds cards.

derelyth

Sorry for the slow response

True, just thought it was worth mentioning as I may be able to use it temporarily depending on what I do.

I probably would keep my Lloyds card as it is ideal as an emergency one. I just don't know what effect having £3,750 of credit would have on my chance of another card acceptance and whether I'd need to cancel the CapOne first. £750 limit is the Lloyds, £3k CapOne.

I asked in the Barclays CB card thread and there's no Apply Online function so it seems it may be existing customers only. I may call them but don't know whether I'd be able to get the point across about applying as a new customer...!

Candyapple

£3,750 as your cumulative credit limit is a drop in the ocean. Unless you are earning below £10k, it shouldn’t make any difference in you applying for a new card.

If you don’t see yourself using the Cap 1 card after the cashback offer has ended, get a new card (by the sounds of it you are leaning towards Barclaycard) then close the Cap 1 account. Because you’ve had it for 3 years, having a long settled account in your credit history also acts in your favour for any future applications.