Top Cashback Cards Discussion Area
Comments
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Hi all,
I'm aware that you should not use your credit card for withdrawing cash. However, I wondered what the position is with so called "cash back" at the supermarket.
I often get £50 or so added to my shopping bill (say £100) at the checkout to take the £50 change (just to avoid visiting an ATM).
Would this count as "withdrawing cash" on which interest is charged, or will the card company just see the £150 total bill from Sainsbury's or M&S or whatever, and assume that it was all a purchase?
I would have thought that they wouldn't investigate what the bill was; however, if not, this provides an opportunity to get extra cashback on the card by racking up higher bills at the supermarket by getting cash-in-hand. For example, I could assure myself that I will spend £2000 in 3 months on my Amex Platinum by ensuring I get £100 cashback when I go to the supermarket or petrol station. This seems too good to be true; but how would the card company know?
If someone would let me know how this works, that would be great. Many thanks for your help.0 -
Athertonian wrote: »Hi all,
I'm aware that you should not use your credit card for withdrawing cash. However, I wondered what the position is with so called "cash back" at the supermarket.
I often get £50 or so added to my shopping bill (say £100) at the checkout to take the £50 change (just to avoid visiting an ATM).
Would this count as "withdrawing cash" on which interest is charged, or will the card company just see the £150 total bill from Sainsbury's or M&S or whatever, and assume that it was all a purchase?
I would have thought that they wouldn't investigate what the bill was; however, if not, this provides an opportunity to get extra cashback on the card by racking up higher bills at the supermarket by getting cash-in-hand. For example, I could assure myself that I will spend £2000 in 3 months on my Amex Platinum by ensuring I get £100 cashback when I go to the supermarket or petrol station. This seems too good to be true; but how would the card company know?
If someone would let me know how this works, that would be great. Many thanks for your help.
You can't get cashback at the till on a credit card. Anyone giving you cash and charging it as a purchase is in breach of their merchant terms and conditions.
Are you getting confused between credit cards and debit cards?"A child of five could understand this. Fetch me a child of five." - Groucho Marx0 -
You can't get cashback at the till on a credit card. Anyone giving you cash and charging it as a purchase is in breach of their merchant terms and conditions.
Are you getting confused between credit cards and debit cards?
Are you sure? I asked Capital One about this and they said I have to ask the retailer as it depends how they put the transaction through. Granted, this was in Australia, but I'd have thought they would have mentioned you can't do that if it was the case in the UK.0 -
callum9999 wrote: »Are you sure? I asked Capital One about this and they said I have to ask the retailer as it depends how they put the transaction through. Granted, this was in Australia, but I'd have thought they would have mentioned you can't do that if it was the case in the UK.
Yes. Unless you drink in NickX's local."A child of five could understand this. Fetch me a child of five." - Groucho Marx0 -
^^ lol hats off to him for getting cashback on beer :beer:You've never seen me, but I've been here all along - watching and learning...:cool:0
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AMEX Platinum Second Year Without 5% Cash Back
Having received my Cash Back from AMEX for the first year, I did some number-crunching and in the second year of holding an AMEX Platinum CB Card, there is (per my latest statement) a minimum requirement to build up a minimum of £25 Cash Back in 12 months, which means a minimum spend of £4250 per year, which is £354.17 per month (see figures below which are approximations):
£17.50 = 3500 x 0.5% plus £7.50 = 750 x 1% for the £25.00 Min CB Req
Per Yr £4,250.00 Per Month £354.17
Personally I will be able to meet it, but just a warning on the "difficult second year" of AMEX Platinum CB!!
Now I have my CB for Year 1, would it be better to cancel my AMEX PCB, wait 6 months, then in the interim use my Bank of Ireland 0.5% CB Mastercard, then start again with the 5% rate - is this possible? Can you cancel and then reapply 6 months later for the CB at 5%?
Thanks in advance0 -
Mods please remove. I did not notice that the cashback is on the normal platinum card and does not state the Platinum Cashback card.
My apologies0 -
Hi,
I have a Halifax One credit card which used to automatically pay cash back to my account once a year. More recently I have discovered it is up to me to phone on the anniversary of the account opening to claim the cash back. ( I've already missed out because I was unaware of the change in the rules) Also if I was on holiday at the time then phoning from abroad would cost so much I could be out of pocket anyway. Can anyone advise if they can change the rules like this since my original contract with them was an automatic cash back?
Cheers0 -
I am using the Egg Money Card which gives 1% cashback.
The problem is that it won't give me more than £700 credit limit, which I would like to increase to £1,000, but it refuses to (no reason given). I can't use any other card as I am a pensioner and although I have savings, I don't have what they consider a high regular income, though I've never been in debt and am reliable. So I'm stuck with Egg and have to remember to top it up occasionally, which is a pain ! :mad:0 -
Are you sure it has to be on the anniversary? I don't have the "one" card but have the MC from a couple of years back that pays 2% on fuel and "grocery store" spend - that has always been cashback-on-claim but you can claim at any time.wobbleybobs wrote: »Hi,
I have a Halifax One credit card which used to automatically pay cash back to my account once a year. More recently I have discovered it is up to me to phone on the anniversary of the account opening to claim the cash back. ( I've already missed out because I was unaware of the change in the rules) Also if I was on holiday at the time then phoning from abroad would cost so much I could be out of pocket anyway. Can anyone advise if they can change the rules like this since my original contract with them was an automatic cash back?
Cheers
I can't believe it's "claim after 365 days or lose it".
And yes, all Ts & Cs allow the terms to be varied - I'm impressed they've not dropped my cashback down from 2% :TYou've never seen me, but I've been here all along - watching and learning...:cool:0
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