1% cashback or 0% on purchases......???

carpy

which is the better deal?

is it as simple as the following;

the 0% on purchases is the better deal because all your spending is still sitting in a savings account earning (for example 5% after tax) as opposed to gaining you 1% in cashback?

obviously you still need to pay your minimum payment.

it's just i have a capital one card that i use for everything (earning me 1% cashback) but i've just realised my Virgin card (that i don't use) has a 0% on purchases offer on.

would i be better off using the Virgin card until the 0% ends then go back to the Capital One?

:beer:

Volcane

It would depend on two things :

1) Do you pay your balance off in full each month and

2) The interest rate on the account your money is sitting in.

YorkshireBoy

Volcane wrote: »

It would depend on two things :

1) Do you pay your balance off in full each month and

2) The interest rate on the account your money is sitting in.

...and...

3) The 0% duration.

carpy

always pay the full balance.

initially halifax high interest current account, then shifted to either icici or kaupthing edge.

0% till september

YorkshireBoy

carpy wrote: »

always pay the full balance.

initially halifax high interest current account, then shifted to either icici or kaupthing edge.

0% till september

Calculate your slow stooz profit here...

http://www.stoozing.com/slowcalc.htm

However, I'd say that unless you intend to/can BT the Virgin debt elsewhere fee-free in September, then it's probably best to use it only for a couple of months and then revert to your cashback card.