Faster returns than stoozing?
seatbeltnoob
Posts: 1,311 Forumite
Just noticed that quidco and topcashback offer cashback for applying for credit cards.
Cards can pay up to £50 per successful application but average is between £20-£30 per card on quidco and topcashback.
For low spenders this can be just as lucrative as stoozing away £5000 at 1% in a year.
I applied for post office 30 month 0% purchase card with £0 annual fee and it has a £30 cashback.
It doesn't seem to have any account performance criteria. No spend limits or minimum balances. So you can just close the account after 2-3 months and bank in quidco cash.
Makes you wonder what other cashback offers are there on the site that require £0 spend.
Cards can pay up to £50 per successful application but average is between £20-£30 per card on quidco and topcashback.
For low spenders this can be just as lucrative as stoozing away £5000 at 1% in a year.
I applied for post office 30 month 0% purchase card with £0 annual fee and it has a £30 cashback.
It doesn't seem to have any account performance criteria. No spend limits or minimum balances. So you can just close the account after 2-3 months and bank in quidco cash.
Makes you wonder what other cashback offers are there on the site that require £0 spend.
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Comments
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I've had mixed results with this.
Tesco, Lloyds and Asda payed out very quickly via Topcashback.
AA wanted me to jump through hoops sending certified ID so I didn't bother following through with the application.
Debenhams got declined on Quidco with no explanation. Barclaycard didn't track and I'm still waiting for a claim to go through, but judging by the Quidco reviews I'm not holding out much hope of getting it. The Barclaycard card came with a decent balance transfer offer so was worth getting anyway even if the cashback doesn't come through.
If the cashback is your only reason for applying then I'd say look at the reviews on the cashback site for that particular card before deciding whether it's worth the hit on your credit file.
If you're stoozing and applying for cards anyway then you might as well exhaust the applications offering cashback first
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AA took 12 months to pay my cashback after lots of chasing. Now closed.
Debenhams paid in about 3 months no problem. Now closed.
Amex paid me quickly but my wife is still chasing her cashback which was declined for no clear reason. Going to keep collecting Nectar points but close a few months before the first annual fee is due.
Last weekend applied direct to HSBC for their £25 offer but I didn't get immediately accepted (maybe too much credit available elsewhere) and they said they would send me a message via online banking (have an Advance account) within a couple of days and I am still waiting.
Alex0 -
AA wanted me to jump through hoops sending certified ID so I didn't bother following through with the application.
I had this with the post office credit card. The £30 cashback has turned into an effective £19 cashback after I had to spend £11 on sending ID verification. They had me take 2 forms of ID to a post office and the clerk stamped and signed the photocopies saying their are a true likeness of an original.0
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