Santander CC vs. Costo PFS?

dcouponzzzz

Hey guys,

So originally I was looking at a Santander 123 CC to purchase petrol, and then stooze the money into a regular savings account (First Direct 6%) to be paid off at the end of the term.... however I already own a Costco membership and their diesel is currently 6p cheaper per litre than the cheapest nearby Tesco PFS! Of course Costco isn't on the rewards list for Santander because that would be too good to be true Could anyone make my choice for me? :beer:

Edit: forgot to add, I will only be spending £120-150 on diesel per month. I also have separate Santander 123 current account dedicated to household and personal bills (also covers first annual £24 fee).

reclusive46

Have you considered the Costco American Express? Atleast you'd get 1% cashback on the Diesel from Costco then

molerat

Just because they do not appear on the list does not mean that you will not get the cash back. You need to know the MCC they use at the filling station. If it is 5541 or 5542 you will get it. If you have used a credit card in there before then look at your statement or maybe someone on here can help.

dcouponzzzz

molerat wrote: »

Just because they do not appear on the list does not mean that you will not get the cash back. You need to know the MCC they use at the filling station. If it is 5541 or 5542 you will get it. If you have used a credit card in there before then look at your statement or maybe someone on here can help.

Thanks for replying Molerat, I based the fact they're unsupported using this tool: http://www.santander-products.co.uk/credit_cards/cashback_search

I'm not sure what an MCC is but I'll look in to it! I suppose I could also call Santander and check with them

fromtheshires

You can't use credit cards in Costco (unless Amex) so i doubt you will be able to use them at their petrol stations.

As an aside, where is this as my local Costco's don't have petrol stations.

molerat

Highly unlikely that Santander will actually be able to tell you. Someone at Costco HO will know but it will probably be deep in a non customer facing accounts dept. The best way to find out is to use either an MBNA or Cap1 card as they have the best descriptions / codes in their on line statements.

MCC is the Merchant Category Classification used by both Mastercard and Visa. It is a description of the type of business the company is in and how the cash back cards know what to give. It is possible to get the 123 3% on cigs, sweeties and newspapers in the petrol stations. Until quite recently Aldi was not classed as a supermarket so that cash back was not available.

dcouponzzzz

Thanks for the info Molerat, I'll have to do some digging before I commit but you've made it much easier

And Shires, it's the Liverpool dock road Costco, there's a pay at pump only station at the entrance and it's currently 109p p/l for diesel

fromtheshires

I hope they bring them further down south and put them in all their stores. I will save a fortune on fuel and the cashback credit card wont really matter.

dcouponzzzz

Unfortunately shires it appears Liverpool is the only costco in the UK with a PFS, but not for long!

http://www.petrolprices.com/blog/costco-opens-uks-cheapest-petrol-station.html

System

I thought the only non-debit card that Costco accepted is Amex