Best credit cards for improving credit score and rewarding spending

Voyager2002

nonesuch wrote: »

Why do you need another credit card?

As posted in the OP, in order to get rewarded.


Now, it is fairly easy to get rewards of about half a per cent of what is spent, so ATM that would be worth about a pound a month to the OP. However her life might change: if she gets a car, or changes job so that she needs to commute, and puts all her transport costs on a reward card the savings would be worthwhile indeed. And since she is thinking of it now, now is probably the best time to choose such a card.

nonesuch wrote: »

You already have one, keep using it and paying it in full. That, together with your bank account(s) and any mobile phone contract you might have are enough to build/maintain your credit history. And make sure you're on the electoral roll.

The budget planner idea is great. It will help you save more for the house deposit.

Best of luck.

I can only agree.

Bookowl

Thanks all for replying. Some very useful information for me to look at.
Can I still build credit if I spend a little amount on my credit card say £100 a month rather than the £200 odd I was spending on the £4300 credit limit I have?

Im in giffgaff with a monthly goody bag don't know if that makes a difference to building my credit score?!

On my nationwide credit card I was thinking of using it for giff gaff, Netflix subscription to keep it active. I was then going to open a tesco or amazon cc and use that for shopping etc.

I was looking at the stoozing method mse has listed on the their website, a 0% purchase card with 29 months it only paying the minimum on it and then paying it off in full. I don't know if that's too advanced for someone like me?!

[Deleted User]

Again you’re not looking to build a credit score but credit history.

GiffGaff is essentially a PAYG product so does not report to the CRA’s - you can however have your monthly GoodyBag payment be taken from your credit card which you would then pay back after the statement along with any other expenditure.

Don’t go down the Stoozing route unless you’re 100% certain you can pay it all back in time.

stevenhp1987

nonesuch wrote: »

In my opinion, getting a credit card that rewards spending is not a good idea. Stoozing would be a good idea, again if you're disciplined with credit and know what you are doing.

Why do you say this?

I always pay via a credit card that offers cashback/points.

Why pay with a debit card that offers me nothing, when I can earn cash/points on my regular shopping and have a Direct Debit to pay it off in full.

There's nothing preventing people from getting reward spend and stoozing.

Bookowl

Having had a thorough look at my budget over the weekend to be financially savy going into 2019. I was thinking of opening a cashback credit card with tesco or Amex and put all my monthly spending on there. It equates to £700-£800 a month apart from my work travel and rent which is in a bills account.
With my nationwide credit card I was going to keep my monthly subscriptions in there - Netflix, giff gaff and amazon prime.

Is this a feasible idea and the correct use of a cashback card?

[Deleted User]

If you can get a cashback card, and clear it in full each month, then yes, it's a smart idea to put as much of your spending through it as possible.

Bookowl

I did the cash back eligibility checker and was looking at aqua(95%)- but initial credit limits are low )American Express rewards(90%) or tandem 70%). For rewards card amex platinum seems to be coming up top.The Tesco cashback card doesn’t pay much in rewards compared to a Clubcard and wasn’t on the list. Although my monthly spend is roughly £700-£800ish. Is it worth getting a cashback card for this amount? Does Amex work in Tesco, home bargains?

[Deleted User]

Given you need to pay by some means or other, a cashback won't be any more arduous to use than any other form of payment.

Amex is accepted in most mainstream places, but less so with smaller or independent places.

[Deleted User]

cindrealla wrote: »

I"m not using credit cards, so no idea

Most helpful post ever

dan91

If you shop mainly at Amazon and have prime you get 3 points per £2 working out to 1.5% for amazon spends 0.5% elsewhere. 1 point per £2. I decided to get an amazon card for this reason to pay off in full every month.

Only downside is rather than cashback its in amazon vouchers. Still use my Amex everyday cashback for everywhere else, and Tandem for where Amex isn't available. (Also pay off both in full every month)