Moneysavingexpert.com/Best Cashback cards discussion area

freedom

I also wonder about J. Lewis card as I read in a sunday paper that it isn't all its cracked up to be but quite honestly I didn'y understand the jargon.
Has anyone found it a good card for those paying off monthly in full

cherrypie_3

reading all the dialogue about cash back credit cards. i don't have one, but i put everything on mastercard to get airmiles. am i being silly?

gatta

applied for conron card (cashback) have been accepted but nowhere does it mention cashback is this normal

ray-ez

dadrock wrote:

There were a lot of posts in the last Cashback discussion where Morgan Stanley seemed to be problematic. Is that still the case?

Yeah, does anyone have any positive experiences of Morgan Stanley (cashback) cards? I had a slight issue with a non-cashback MS card. I was tarting them, I had a large balance that i cleared in the last month of the offer period, but they charged me 'interest on interest' (or something) even though i had cleared my entire balance. I didn't bother arguing as i just wanted rid of them (MS)! But I should've done!

This quote from their T&Cs seems to tally with what they did with me:
"Interest charging information: The periods over which interest are charged are as follows:
From Until
Purchases Transaction date Paid in full
Cash withdrawals Transaction date Paid in full
Balance transfers Date debited to your account Paid in full
Credit Card Cheques Date debited to your account Paid in full

Note: If you pay the balance in full, any interest charges for the period from the previous statement to the date of full repayment will be debited the following month."

Does that last line mean that you have to clear your balance, then be sure to clear the 'residue' interest the following month - or what?

Any thoughts,
Cheers,
Ray

Lesgaz

I got notification from iPledge that they will be discontinuing their credit card from December. Lloyds are offering an alternative, but it will not have any cash back facility. You have to notify them to stop them sending you the new card.

Martin: the cash back cardds area information may need changing.

I'm applying for the Conran card now.

regards to all

Nige. . . . . :think:

Jeburt

I've never see it advertised or in the best cash back card lists, but I have the Capital One Circle card which offers 1% cashback on all purchases regardless of how much you spend, as opposed to the Morgan Stanley which only offers 1% on approx your first £2000 in a year, then 0.5%.

Also re the 2% on offer from American Express, I was turned down for this, much to my surprise as I always pay my credit card in full and on time, I have never been overdrawn, I own a house with a small mortgage, am employed and have no other loans. Has anyone else experienced this?

RayN_on_me

I recently followed all Martin's tips from the weekly email and finally applied for my first ever credit card. I've always spent on my Debit card thinking I was being good... until signing up to MSE and now I've learned that as a debt-free (apart from student loan) person, I should be playing the system and purchasing on a Cashback Card.

So, off I went and applied for Amex Blue. Rejected.

I can think of no sensible reason why... but I think I've read somewhere on here that applying for lots of credit cards (whether accepted or rejected) can be detrimental to your credit reference. Therefore, I daren't apply for another credit card. What do I do??

JohalaReewi

gatta wrote:

applied for conran card (cashback) have been accepted but nowhere does it mention cashback is this normal

Yes. You will only find it mentioned on the website application and on your monthly statement. There is nothing in the T&Cs or the welcome pack they send out. For peace of mind you can phone them to check.

JohalaReewi

cherrypie wrote:

reading all the dialogue about cash back credit cards. i don't have one, but i put everything on mastercard to get airmiles. am i being silly?

Not necessarily. If you pay your card in full every month (so you pay no interest) any reward is a bonus. If you don't pay your card off every month (and pay interest) you should really be looking for a card with low interest rates. Any airmiles you currently get will be dwarfed by the amount if interest you are paying. Check out Martin's article here

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103212597,43859

grumbler

RayN_on_me wrote:

... I've always spent on my Debit card thinking I was being good... ...I can think of no sensible reason why... What do I do??

I think the reason of rejection is that you don't have any credit history. To build some history apply for some other card that is easier to get and use it properly for at least 6 months. Apply to the bank you have a current accont with. As a last resort you can apply for one of special cards for 'beginners': credit card for no credit history. There are many other factors affecting your chances to be accepted: Your Credit Rating: How they decide and how you find out for free article.

...but I think I've read somewhere on here that applying for lots of credit cards (whether accepted or rejected) can be detrimental to your credit reference.Therefore, I daren't apply for another credit card.

One application (one search) has very small impact on your credit scoring. Only several seaches during a short period of time have a detrimental effect lasting about 6 months (see the above article). All seraches are listed in your credit files for one year.