Cashback + Travel card?

peter_333

With recent changes to the Barclaycard Cashback Amex / Visa product, I've been considering switching card providers. I have two cards with Barclaycard (Platinum Travel and 0.5% Cashback Visa). What I've been looking for, is a single card that provides both some level of CashBack / Reward and 0% foreign currency fees. Does anyone have recommendations? What I've found so far is ...

Nationwide Select credit card:
- 0.5% cashback (but only on sterling transitions)
- 0% foreign currency transactions (but you get no cashback)

Aqua Reward credit card:
- 0.5% cashback on all purchases (but limited to £100 annually)
- 0% foreign currency transactions
- Comes with 34.9% interest

Any other options people would recommend I look at?

The interest rate on the Aqua card is putting me off the product (even though I pay my cards in full every month, I don't want to get caught out on the off chance I accidentally miss a payment for whatever reason).

System

The Nationwide is only available to members with other products, so is probably a loss leader.

The Aqua is probably hoping you'll borrow at circa 35%, otherwise is likely a loss leader.

Remember, the issuer will only get 0.3% maximum in Europe and is likely to be charged about 1% outside Europe by the card scheme for card transactions.

peter_333

Heng_Leng wrote: »

The Nationwide is only available to members with other products, so is probably a loss leader.

The Aqua is probably hoping you'll borrow at circa 35%, otherwise is likely a loss leader.

Remember, the issuer will only get 0.3% maximum in Europe and is likely to be charged about 1% outside Europe by the card scheme for card transactions.

I'm a Nationwide member and seemingly meet the Select card criteria.

My assumption is that these cards are always a loss leader for the providers, but if I can be careful with my spend and pay off in full each month, I should be on the winning side of the arrangement.

My hope is largely just to simplify my wallet with a single card product that provides the benefits of both my Cashback and Travel Barclaycards, but maybe I'm hoping for too much.

eDicky

peter_333 wrote: »

My hope is largely just to simplify my wallet with a single card product that provides the benefits of both my Cashback and Travel Barclaycards, but maybe I'm hoping for too much.

Don't rely on a single card for travel, take a free Monzo or Loot prepaid card as backup.

peter_333

eDicky wrote: »

Don't rely on a single card for travel, take a free Monzo or Loot prepaid card as backup.

I'll check out Monzo and Loot, but I travel for a living, and am well covered with more cards than any one person reasonably needs. Hence my desire to simplify these two Barclaycards into a single competitors product.

System

peter_333 wrote: »

I'll check out Monzo and Loot, but I travel for a living, and am well covered with more cards than any one person reasonably needs. Hence my desire to simplify these two Barclaycards into a single competitors product.

You'll need to do the calculations.

If you are travelling for living then the forex shouldn't be an issue - this should be absorbed by your employer.

peter_333

Heng_Leng wrote: »

You'll need to do the calculations.

If you are travelling for living then the forex shouldn't be an issue - this should be absorbed by your employer.

I'm self-employed, so I'm absorbing the FX fees.

System

peter_333 wrote: »

I'm self-employed, so I'm absorbing the FX fees.

It's still a legitimate business expense like other bank charges.

peter_333

Heng_Leng wrote: »

It's still a legitimate business expense like other bank charges.

Legitimate or not, it's still an expense. It still cuts into my bottom line.