0% purchase or cashback card?

x_Wilco_x

Some head scratching going on here - hope you can help ...

Planning a trip with a few friends and looking for a CC to use to purchase flights/hire car and hotels etc - This card will just be used purely to facilitate the trip and not used to fund it (ie: we all have the cash on hip but need the card to make the purchases).

I have estimated about £4000 will be spent using the card over the next few months (but not all in one go). Should I apply for a casback card (Capital One) and benefit from the cashback or apply for a 0% purchase card (Capital One again) and stooze my, and my friends, cash in a savings account?

I can see returns either way but can't decide what is the best return and easiest to manage. I have never used a cashback card or stoozed before.

Cheers...

YorkshireBoy

You can calculate your 'gain' from slow-stoozing via a 0% on purchases card here...

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

The gain from cashback is a simple calculation.

Comparing the results will point you in the right direction.

BTW, do you meet Capital One's "excellent credit rating" criteria? It would be a shame to waste an application.

x_Wilco_x

Hey YorkshireBoy, thanks for that - I will play around with the calculator. The website looks like a useful resource as well...

YorkshireBoy wrote: »

BTW, do you meet Capital One's "excellent credit rating" criteria? It would be a shame to waste an application.

In relation to this my thought is 'I had better' given I have never missed a payment on anything, have an active credit history, stable job and income blah blah... however - I only have 1 credit card with a £3000 limit (my choice as I always pay it off every month and actually reduce it back to £3000 when they increse it). But the criteria says i need a card with a £5000 limit (which kinda confuses me!) Is this likely to reject my application?