Credit card portfolio

Drp8713

Just two for me:

Amex Platinum Cashback Everyday - £7500 limit - for cashback
Halifax Clarity - £4200 limit - for overseas spending.

gionnetto

beany_bot wrote: »

I don't do 0% cards. For two reasons.
If I can't afford something i.e.(put it on a reward card and pay it off that month). Then I will save till I can afford it.

But it does make sense if you already have the funds but you are keeping them in a current or savings account that pays some interest....

ozaz

I used to use credit cards as preferred method for day-to-day spending (for the rewards) as well as for 0% foreign spending. However now I mostly use a Monzo account for this as I like the better visibility it gives over day-to-day spending and also covers fee-free foreign spending.

Anyway, in terms of credit cards:
1 x Amex: My preferred payment method for UK transactions over £100 (for section 75 protection). Also provides a bit of cashback.
1 x Nationwide Select credit card (puts a VISA card in my wallet as a general back for Monzo (Mastercard) & Amex. Also alternative for fee-free foreign spending.
1 x Sainsbury's 0% credit card: Use to spread annual expenses at 0% (e.g. annual insurance premiums). Will replace with another equivalent card when 0% period expires. Don't carry day-to-day.

nickspace

Drp8713 wrote: »

Just two for me:

Amex Platinum Cashback Everyday - £7500 limit - for cashback
Halifax Clarity - £4200 limit - for overseas spending.

The Tandem Cashback card does the same as the Halifax Clarity but you also get 0.5% back even on foreign spending.

PixelPound

gionnetto wrote: »

But it does make sense if you already have the funds but you are keeping them in a current or savings account that pays some interest....

depends what motivates you, there are millions of people with positive balance current accounts that earn 0.1% interest or less, often might always have £1000's in there. Not everyone stoozes or feels the "hassle" like applying for a 0% card and waiting for it when you have the money is worth it just to get a few pounds.


Personally I have 7 cards, though whittling it down.
VM 0% just got that going to spend a couple £100 each month and stick it in a 5% linked saving a/c
Amex reward that's been my major spend and pay-off card waiting for the year anniversary in a couple of months to see whether to keep or close
Nationwide gold cashback occasional spend for wherever does not accept amex, had it for 15 years so keeping as its an old account.
Couple of 0% cards that will pay off from savings before the promo expires
Just closed my sainsbury's - promo period ended and it had the lowest limit of every card I have ever had!! Closed my Zero card because my passport expired a couple of years ago and no intention to renewing it - holiday in the UK only now by choice.


I do remember pre financial crash I had 14 cards at one point - just never closed accounts and often you would be sent cards - like barclaycard taking over my egg and sending me 2 cards, a visa and an amex. before I decided to close a bunch of cards.

I've never had problems getting cards (the only time I sort of did as Sainsbury's giving me a credit limit of under £2000, but you can't say that was a rejection and was enough for what I was intending to use it for, just was shocked at the time :rotfl:)

gionnetto

nic_c wrote: »

depends what motivates you, there are millions of people with positive balance current accounts that earn 0.1% interest or less, often might always have £1000's in there. Not everyone stoozes or feels the "hassle" like applying for a 0% card and waiting for it when you have the money is worth it just to get a few pounds.

I guess it depends on the interest you get from your current account and savings, and how much you have in them.

penners324

1) None, have had in the past but no longer
2&3) Tandem cashback card. Does both those things!

Marchitiello

I have always used credit cards for both benefits and balance transfers.

Currently:

HSBC Premier world Elite Mastercard : new, main spending card to achieve max Avios Rewards

BA Amex: for BA spend (second oldest account, very large limit)

MBNA Horizon Visa (ex Emirates) : cashback and no Forex fee and large limits

Legacy cards:

Lloyds Avios Mastercard (the Amex duo have been my main spending card for few years, also thanks to zero Forex ): no use currently

Barclaycard Cashback Visa (black), ex Amex Duo, went through few product changes but longest account (20+ years) and large credit limit. Currently with a small balance at 0%

Barclaycard Hilton Visa: retained for silver status and Hilton spending in the UK

Purely Balance Transfer accounts
Santander Red Mastercard: currently on a 0% deal with a small amount

RBS Mastercard 23 months 0% and zero fee, large limit : just got this, made the balance transfers and parked away.

I also have a Fineco multi-currencies with Euro and GBP debit cards, and a Starling Bank account for cash withdrawal abroad ( I travel extensively for work and pleasure).

chrissy19

I took out a Tesco Clubcard credit card in May 2018, having read an article on Martin's Money Tips, on the understanding I would receive 2500 points if I made a purchase on the card within the first 3 months. I did, but have never received any Clubcard points. I have written to Tesco and they deny that any bonus points were offered when taking out this particular credit card. I didn't receive anything in writing when I took out the credit card to confirm the offer.

Can anyone confirm that Martin's Money Tips did indeed tell us about the Tesco Clubcard credit card points offer? Did anybody else take out this credit card and receive the bonus points?

chelseablue

I have 3

Barclaycard Cashback - will always keep this as its my longest open account (had since 2007)

Halifax Clarity - for abroad

Virgin - Never use it only got for the long 0% BT offer. Will close when the balance is paid off