Cashback cards - how exactly?

owitemisermusa

Hi there,

Looking through a cashback card's site (CITI) and realised I had no idea how the cashback is paid to you.

On CITI's site, it says

"Just keep buying Shell fuel in Great Britain each month, and we will automatically credit your Shell MasterCard from Citi account with your accrued rebate up to the value of your Shell fuel purchase - saving you money every time you fill up!"

Does that mean you never actually see any money? Do they (and other CCs) simply credit your card account with the cashback/rebate?

This question refers to all cashback CCs not just CITI.

Thanks.


BTW, rebate = cashback right?

simongregson

Most credit your account, e.g American express do this yearly.

Some will credit the amount built up to your card when you make specific purchases, e.g. the shell card, easyjet card, tesco business card will credit the built up cashback when you shop at shell, easyjet, or tesco petrol stations respectively.

A very few will send a cheque, e.g. morgan stanley (although this card is no longer available).

nearlyrich

I have the Shell card, the rebate is taken off the amount you owe on a monthly basis, my Egg card is done once per year in Feb just got a rebate of over £200 recently.

owitemisermusa

Thanks guys.

Guess I was kinda hoping to get cold hard cash (ha ha ha ha!)

nearlyrich wrote: »

I have the Shell card, the rebate is taken off the amount you owe on a monthly basis, my Egg card is done once per year in Feb just got a rebate of over £200 recently.

So nearlyrich, is the Shell card worth it in practical terms? And do you clear your balance in full via DD?

nearlyrich

owitemisermusa wrote: »

Thanks guys.

Guess I was kinda hoping to get cold hard cash (ha ha ha ha!)



So nearlyrich, is the Shell card worth it in practical terms? And do you clear your balance in full via DD?

It's against my religion to pay interest so yes I do clear my CC balances in full by DD every month. When I get my Egg rebate I transfer the equivalent into my savings account from my current account, it's equivalent to having the cash.

The Shell card is better value than the Egg card for my diesel especially with the higher % rebate for the first few months. I do at least a tank of diesel per week sometimes two or three so it mounts up a bit. I run a company car so when I get my expenses I transfer the money to my savings, I don't make money on the fuel but I am usually a bit late claiming so I have already paid the bill when I get the cash back from the company.;)

Cobertizo

nearlyrich wrote: »

I have the Shell card, the rebate is taken off the amount you owe on a monthly basis, my Egg card is done once per year in Feb just got a rebate of over £200 recently.

Was that "rebate of over £200" from Egg? My understanding was that they paid it up to a maximum of £200 per year... That's for the Egg Money card anyway.

nearlyrich

Yes it was £200 for the Egg card but the same week I got almost £20 from Citi for the Shell rebate so over £200 covers both sorry for the confusion!.