Most rewarding credit card

bouicca21

I have a John Lewis credit card that gives me points that translate into vouchers for Waitrose. My local waitrose is handy for me so the vouchers are useful even though I do my main shop elsewhere.

 The number of points per £ spent has been slashed so I’m wondering if there is another card with a better reward.

interest rate doesn’t matter as I pay it off in full every month.

grumpy_codger

>> Credit card rewards

A recent thread: John Lewis credit card - rewards reducing

ColdIron

bouicca21 said:

 The number of points per £ spent has been slashed so I’m wondering if there is another card with a better reward.

You probably know this but points per pound have only reduced for non John Lewis/Waitrose purchases and they were always pretty poor to begin with. 1.25 points per £1 is decent enough within JL/WR

WillPS

Here are the Visa/Mastercard options:
https://forums.moneysavingexpert.com/discussion/comment/81509339/#Comment_81509339

Amex will yield better, but is not universally accepted. An overview of 'open to all' options is here:
https://forums.moneysavingexpert.com/discussion/comment/81258539/#Comment_81258539
[If you're a Vitality member I'd encourage you to consider that card additionally[

mta999

Although not strictly cash back one way to do it is to have a 0% purchase card and only pay the minimum each month and put the money into a savings account - that way you can effective to get three or four percent 'cashback'

eschaton

mta999 said:

Although not strictly cash back one way to do it is to have a 0% purchase card and only pay the minimum each month and put the money into a savings account - that way you can effective to get three or four percent 'cashback'

I don’t get the fascination of cashback rewards when the reward is generally poor. 

0% purchase cards give a far greater return like you say. 

0% BT fee free cards are just free money. Only £5000 on such a card for 12m can easily earn you £200 for doing very little. 

Maintain a £5000 balance on a 0% purchases card for 24m and you could easily earn £400. 

Maintain balances of £15k on 0% credit cards will easily earn over £600 a year. Even if you get hit with tax, it’s still a decent return. 

WillPS

mta999 said:

Although not strictly cash back one way to do it is to have a 0% purchase card and only pay the minimum each month and put the money into a savings account - that way you can effective to get three or four percent 'cashback'

The trade off is credit utilisation/total debt on credit record. This will be of huge importance to some but far less importance to others.

There also is likely to come a point where either the consumer or the issuers of 0% credit are no longer willing to take/extend further credit. At that point cashback becomes the better option again.

MyRealNameToo

bouicca21 said:

I have a John Lewis credit card that gives me points that translate into vouchers for Waitrose. My local waitrose is handy for me so the vouchers are useful even though I do my main shop elsewhere.

 The number of points per £ spent has been slashed so I’m wondering if there is another card with a better reward.

interest rate doesn’t matter as I pay it off in full every month.

Depends on what you value; I do well out of airmiles so tend to look for cards with rewards in that space but then we do like travelling in higher tiers and do a lot of last minute travel. If you rarely travel or think anything more than RyanAir is wasteful then clearly wouldnt be for you. 

mta999

WillPS said:

mta999 said:

Although not strictly cash back one way to do it is to have a 0% purchase card and only pay the minimum each month and put the money into a savings account - that way you can effective to get three or four percent 'cashback'

The trade off is credit utilisation/total debt on credit record. This will be of huge importance to some but far less importance to others.

There also is likely to come a point where either the consumer or the issuers of 0% credit are no longer willing to take/extend further credit. At that point cashback becomes the better option again.

What you say is true although so far I have been lucky in that I have always had enough spare credit on my 0% purchase cards.

Of course in the end they need paying back and that frees up further credit availability

If you can get 4% on your savings then every three months is effectively 1% cashback so even if you buy something on your card and pay it all off after six months  you still get 2% cashback!

Cisco001

For supermarket, it is usually save more by purchasing gift card at discount.

mta999

How do you do that please ?