cash from credit card

spezial

I read it but am a bit confused

which card has no fee and gives the highest cashback percentage for any purchase?

spezial

also can you tell me please, for some purchases I will be charged more if I pay via credit card, instead debit? so may I lose any benefit for the cashback due to the transaction fees?

also, is it possible to set automatic payments for a credit card, so that I will never be charged interest?

No_6

Lots of demands / questions, which are very easy to find it you use the search function's .. and no 'please '


6

surreysaver

I think maybe if you do not understand how the system of stoozing / cashback and about direct debits with full or minimum payments, then may be this isn't for you? You will inevitably end up paying interest and/or charges.

spezial

I cant find a definition for muling

stoozing is not something I am interested, because I don't think it has much benefit

you make all your payments via your credit card or 20 months and at the same time you save your money in a bank account? how much will you earn from that bank account???

Tixy

So you are not interested in stoozing, but you have posted in the stoozing section and are still asking questions about it.

spezial wrote: »

you make all your payments via your credit card or 20 months and at the same time you save your money in a bank account? how much will you earn from that bank account???

How much you would earn would depend on which bank account you choose and what interest rate it pays. And obviously on how much you put in to that account and how long you leave it there.

If you want to know about savings accounts then there are several guides on MSE to the best buy savings accounts.

pathtofreedom

On any credit card you will have a minimum payment each month based on a % of the oustanding balance even if it is a 0% deal. The different sorts of stoozing work if you get a 0% deal and move all the money into a different investiment like a savings account to gain interest on the money you wouldn't have had otherwise.

For cash back deals it depends what you're spending the money on, santander 123 with the current account covers most things including bills like council tax so you'd need to look at your last years spending totals and see how those % for the different cash back levels work out. There are other cards that are just a fixed % for all spending or just for fuel or you get airmiles or different rewards.

Only you can know all your details to figure out in advance how much you'd make with stoozing or cash back cards. If you don't understand how credit card direct debits work at all right now you're probably best just trying it with something like santander to get used to understanding the difference between minimum payments and paying off in full each month. If you make some money then that's a bonus. Then once you understand it all better you can then research better deals for yourself.

You've been given very helpful info so far so don't knock it.

pathtofreedom

I've just realised you've been asking about buying houses and mortgages too. If you're going to do that in the next 6 months or so you don't want to start getting credit cards, as it could stop you from being able to get a mortgage as it will look like you're running out of money and in need of credit.

spezial

if I get cashback at the supermarket from my credit card, will this count to my card cashback?

Vortigern

spezial wrote: »

if I get cashback at the supermarket from my credit card, will this count to my card cashback?

Will your supermarket give cashback on a credit card?

Most supermarkets offer cashback on debit cards only.