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Cashback rewards?
Comments
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born_again said:Money_and_Travel said:As I understand it, debit cards are subject a fee/charge for overseas spending.
My card is one of the certain ones.0 -
Doing it that way is also not good for building a solid credit history.
A Chase debit card would do the exact same job for you.0 -
Money_and_Travel said:born_again said:& what do you think you get over a debit card for these purchases?
As I understand it, debit cards are subject a fee/charge for overseas spending.Several don't.Chase for example, a top choice.
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Money_and_Travel said:Just been in and she said it was OK if they put me in credit.
I explained that I pay things off straight away, and she commented that is the best way.
It's the best way for the customer, but I bet it's not the best way for the bank.
Example:
You spend £1000 on card and get 0.25% cashback, you pay £1000 the next day after it clears. You earn nothing and your card appears to be unused when reported to credit agencies as the statement value is £0.
I spent £1000 on card and get 0.25% cashback. I have the £1000 in my Kroo account paying 4.35% interest until the day before my card is due when I transfer it into my main account and the DD gets taken. I earn up to 56 days interest on that £1000 and still costs me nothing in interest. It also shows it's being used and paid in full every month which gives me a good credit history.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Surely the best situation for the bank, is that only pay part of the balance (or indeed only the minimum) each month, thereby paying the bank lots of interest?0
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born_again said:
the whole point of a CC. The interest free period.0 -
Money_and_Travel said:Surely the best situation for the bank, is that only pay part of the balance (or indeed only the minimum) each month, thereby paying the bank lots of interest?
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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