Information request: which Credit Card should I be looking at applying for?

Radshire

Hi there,

Looking for some pointers as to which credit card to get.

I'm fortunate enough to have come through the time in which I actually need Credit - I now pay off Credit Cards in full every month - and this is mainly thanks to MSE and these forums. Thanks to everyone who has helped me become debt-free. :T:j

My normal monthly spend is somewhere in the region of £3k.

I have a relatively good income and my credit score is now "excellent".

I'm not interested in new customer offers (although if there are any, I'm not going to turn them away )

A few years ago, I started using my TescoBank Mastercard for everyday purchases. I chose this card because of the Clubcard points and the fact that I could quad these up during the boost periods. Now that the boost periods have gone and because they pay a small number of points per £1 spent, I'm looking to move.

Coincidently, I've moved into a job in which I travel - a lot of which is paid by me upfront - hence the high (for me anyway) monthly spending amount.

I'm interested in cards which offer the best, stable, incentives for use. To be honest, I'm open to charge cards as well if they're better...

Any help, or pointers to where I can find the best card, appreciated.

[Deleted User]

The first question, is what incentives do you like?

Cash, air miles, supermarket points, pig shaped money banks...

You then need to think about whether you credit history will support the card that you want.

Radshire

I definitely don't want pig shaped money banks

To be honest, I just don't know what rewards are out there. I know I won't be holidaying abroad for the next two years, but I don't mind saving up avios if it means I could take a trip to the USA (for example).
Likewise, I don't want to save avios if I could get more back in cashback to pay for a decent holiday and have spending money too

Does the value of the different options become personal rather than having an absolute value (i.e. a conversion between the two) which one can use to compare?

Radshire

I should have added: I used to convert the Clubcard points to cash value when I had a TescoBank Mastercard.

They used to give 1 point for every £4 spent.
If each point is worth 1 pence, and I could quad them up, I reckoned that the value of using the card was 1 pence per £1 spent - or 1 % of spending totals.

MallyGirl

With that sort of throughput a cashback card might work best. Amex do one with a fee and one without. After meeting the minimum spend I now get 1.25% cashback on all purchases - I think that has dropped to 1% for new customers though

Radshire

Thanks MallyGirl.

I'm guessing that this is the going rate for people who don't ditch and switch every 12 months......something which, I have to admit, I can't always be bothered with.

I'll take a look through the AmEx product offering though - thank you for the pointer.

People also talk a lot about the benefits you get with AmEx. Do you receive these and are any of them of tangible value?

newuser86

There are a lot of different AMEX cards, and as mentioned depending what you want depends which card is worth doing. Use Topcashback/Quidco when taking out a card for cash or get a referral which will offer bonus miles/points.

On a more selfish note i do have an Amex and have posted in the referral section if you want to be referred.

I have had an Amex for the past two years and have booked a couple of business class flights to America just from this which i would never have paid for.

Be aware that not everywhere accepts Amex and therefore may be worth taking out two cards, as long as they're paid off properly it will be good for your credit rating