Cashback credit card - maximising cashback

shuze

For a Barclaycard cashback credit card, assuming there is no limit to the amount of cashback that may be earned per month or per year:

Can I spend up to my credit limit, then pay down the balance, then spend up to the limit again, all in a single month, and get cashback on 2x my credit limit?

Or does it not work that way? Do you just get cashback on the actual statement balance once per month?

I hope the question makes sense!

jay1804

Yes you can as many times as you like, last month I spent 3x my limit. As long as you don’t go over your limit or miss a payment you will get cashback on all purchase.

shuze

jay1804 wrote: »

Yes you can as many times as you like, last month I spent 3x my limit. As long as you don’t go over your limit or miss a payment you will get cashback on all purchase.

That's great, thanks for the quick answer (and the one I wanted to hear!) :T

The_Urbanite

I concur that you can, but customer service departments tend to tell you that you shouldn't do this.

If short cycling is your game, why not go for a more rewarding card? Barclaycard seem to be hovering around the 0.2-0.25% mark with their rewards cards, except the Hilton card which is now only offered on an invite only basis apparently.

How about Tandem, who are offering 0.5% cashback? Or one of the American Express Platinum Cashback cards which offer more?

shuze

I get 0.5% on all my spending. I think it's because I was migrated from Egg but I must admit I can't really remember.

ozaz

jeepjunkie wrote: »

0.5% lol bin'd my Barclaycard ages ago. I too was egg. Got a prepaid card that gives 4%-10% instead. Average about 6% cashback.

What have you got?

Ben8282

Either the OP has a very small credit limit or is planning an awful lot of spending!

jeepjunkie wrote: »

0.5% lol bin'd my Barclaycard ages ago. I too was egg. Got a prepaid card that gives 4%-10% instead. Average about 6% cashback.

Sure you have. And how much do top up's cost? Must be very inconvenient having to use a prepaid card all the time as well.
Assuming these are retailer specific offers. It is not possible that you get a minimum of 4% cashback on ALL spend.

SnowTiger

adindas wrote: »

Which card give you 6% Cashback ?
Do you mean 0.1-1%, 0.6% ??

Perhaps Pockit, which offers cashback at a limited number of retailers.

I get cashback on many of my day-to-day purchases of about 5% via Friendly Benefits, which is available to Scottish Friendly customers.

I bought a £100 ISA from Scottish Friendly nearly four years ago. It's now worth about £116. I also got cashback via TopCashback of £80.80 when I opened it.

Fingerbobs

The_Urbanite wrote: »

I concur that you can, but customer service departments tend to tell you that you shouldn't do this.

I fail to see why. You can make ad-hoc payments to a credit card any time you like.
It's a credit limit, not a spending limit.

IvanDP

Fingerbobs wrote: »

I fail to see why. You can make ad-hoc payments to a credit card any time you like.
It's a credit limit, not a spending limit.

+1 to that
As i am paid weekly, I find it easier to pay my credit card off in that way

adindas

SnowTiger wrote: »

Perhaps Pockit, which offers cashback at a limited number of retailers.

I get cashback on many of my day-to-day purchases of about 5% via Friendly Benefits, which is available to Scottish Friendly customers.

I bought a £100 ISA from Scottish Friendly nearly four years ago. It's now worth about £116. I also got cashback via TopCashback of £80.80 when I opened it.

Regarding retailer specific cashback, is sometimes deceptive as in many cases you could easily find similar item on sale which is much cheaper even after you count all of the cashback you get.

I have seen scottisth friendly a few times recently in TCB they even offer about £200 for opening a investment ISA but I think nowadays you will need to invest £100 monthly for about a year. If they still offer one off £100 with about £200 cashback I will bite it.