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  • FIRST POST
    • akhurmi
    • By akhurmi 12th Feb 18, 10:49 AM
    • 3Posts
    • 0Thanks
    akhurmi
    Best Credit Card to use for large purchase
    • #1
    • 12th Feb 18, 10:49 AM
    Best Credit Card to use for large purchase 12th Feb 18 at 10:49 AM
    Hi All,

    Hoping someone can advise me on my upcoming kitchen purchase.
    1. New kitchen is planned, let's say ~£20k
    2. I could pay for this out of savings, but aware that I could earn some cashback/other benefits if I put this on a newly obtained credit card with "initial bonus offer" etc
    3. Aware that I would probably only be granted an ~£15k credit limit, so would split the cost as £15k on the card, and pay the rest on debit card etc
    4. Card balance would then be paid in full on the next payment date

    So the question is, which credit card would give maximum benefit for the above spend? Amex card 5% cashback sounds great on the face of it, but the cashback is only on 1st £2k. Is there a card which would give lower % cashback but for the full £15k for example?

    Or am I better off going for a card which award something other than cashback, such as Avios points etc or Nectar points?

    Thanks for your thoughts in advance.
Page 1
    • zx81
    • By zx81 12th Feb 18, 11:00 AM
    • 17,273 Posts
    • 18,379 Thanks
    zx81
    • #2
    • 12th Feb 18, 11:00 AM
    • #2
    • 12th Feb 18, 11:00 AM
    You credit limit, if accepted, is going to be dependent on your circumstances. You might get £20k. You might get £250.

    You don't give any idea of your credit history, so it's impossible to say what your best option may be. With that in mind, I would start with an eligibility checker.
    • akhurmi
    • By akhurmi 12th Feb 18, 12:43 PM
    • 3 Posts
    • 0 Thanks
    akhurmi
    • #3
    • 12th Feb 18, 12:43 PM
    • #3
    • 12th Feb 18, 12:43 PM
    Indeed that has been done - let's assume £15k credit limit, as per point #3 on my initial post.
    • Nile
    • By Nile 12th Feb 18, 4:31 PM
    • 14,299 Posts
    • 14,257 Thanks
    Nile
    • #4
    • 12th Feb 18, 4:31 PM
    • #4
    • 12th Feb 18, 4:31 PM
    Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email forumteam@moneysavingexpert.com.

    I’ve moved your thread from the ‘I wanna’ board to the ‘Credit Cards’ board, where it is better suited.

    Regards

    Nile
    Hi, I'm the Board Guide on the In my home (includes DIY) and the I wanna buy-it or do-it boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember that Board Guides don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com. It is not part of my role to deal with reportable posts. Any views are mine and are not the official line of moneysavingexpert.com.

    10 Dec 2007 - Led Zeppelin - I was there. I wear my 50 (gold/red/white) blood donations pin badge with pride. Give blood, save a life.
    • akhurmi
    • By akhurmi 14th Feb 18, 10:29 AM
    • 3 Posts
    • 0 Thanks
    akhurmi
    • #5
    • 14th Feb 18, 10:29 AM
    • #5
    • 14th Feb 18, 10:29 AM
    Ok thanks Nile
    • Candyapple
    • By Candyapple 14th Feb 18, 10:49 AM
    • 2,909 Posts
    • 2,244 Thanks
    Candyapple
    • #6
    • 14th Feb 18, 10:49 AM
    • #6
    • 14th Feb 18, 10:49 AM
    Cashback cards:
    https://www.moneysavingexpert.com/credit-cards/cashback-credit-cards

    Or another way of doing it is to put it on a 0% purchases card and the money you would have spent, invest in high interest savings accounts / current accounts.

    0% purchase cards:
    https://www.moneysavingexpert.com/credit-cards/best-0-credit-cards

    Savings & current accounts:
    https://www.moneysavingexpert.com/savings/savings-accounts-best-interest
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Toki
    • By Toki 14th Feb 18, 12:27 PM
    • 252 Posts
    • 112 Thanks
    Toki
    • #7
    • 14th Feb 18, 12:27 PM
    • #7
    • 14th Feb 18, 12:27 PM
    Hi All,

    Hoping someone can advise me on my upcoming kitchen purchase.
    1. New kitchen is planned, let's say ~£20k
    2. I could pay for this out of savings, but aware that I could earn some cashback/other benefits if I put this on a newly obtained credit card with "initial bonus offer" etc
    3. Aware that I would probably only be granted an ~£15k credit limit, so would split the cost as £15k on the card, and pay the rest on debit card etc
    4. Card balance would then be paid in full on the next payment date

    So the question is, which credit card would give maximum benefit for the above spend? Amex card 5% cashback sounds great on the face of it, but the cashback is only on 1st £2k. Is there a card which would give lower % cashback but for the full £15k for example?

    Or am I better off going for a card which award something other than cashback, such as Avios points etc or Nectar points?

    Thanks for your thoughts in advance.
    Originally posted by akhurmi
    I would find out if the retailer will accept American Express first of all as these cards will give you the best cashback.

    If they do, I would get the Amex Preferred Gold Charge Card which will give you 20K MR points, or 22k if referred once spend £2k in 3 months. Note this is a charge card and requires to be paid in full each month.

    Th points equates to £120 minimum or possibly a lot more if you can use for airmiles such as Avios or Virgin miles for example. Even taking as cash, this equals a return of £120 for £2k spend. Remember to transfer the points and cancel the card before the first year to avoid the £140 fee. For more points, refer a friend or partner before you close.

    For the remainder of the balance for the kitchen, if they would allow you to spread the cost across more than 1 card, have a look at the link provided Candyapple.
    • chattychappy
    • By chattychappy 14th Feb 18, 10:56 PM
    • 6,806 Posts
    • 3,699 Thanks
    chattychappy
    • #8
    • 14th Feb 18, 10:56 PM
    • #8
    • 14th Feb 18, 10:56 PM
    Check if they will take CC. They might accept it for a deposit, but be sure to check if they will accept it for the whole balance. Now they can't charge extra for CC, they might not be so keen to take it for the balance if you are already "on the hook".
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