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    • PJD
    • By PJD 10th Apr 18, 12:17 AM
    • 546Posts
    • 180Thanks
    PJD
    0% or cashback CC for me...?
    • #1
    • 10th Apr 18, 12:17 AM
    0% or cashback CC for me...? 10th Apr 18 at 12:17 AM
    I used (3 - 4 years ago) to always earn money on CCs, - ie, do all my spending on CCs, - pay the minimum each month, and then the balance before the penalty point.

    I spend around 500 typically a month on CCs.

    Given that CCs offer such a low rate of cash back, I haven't had one for a few years - just been doing all my spending on a debit card.

    Okay I'm probably missing out, so I'm going to get another one, however, would it serve me better, given my level of spending, to get a cashback of around 0.5% typically, or go for a 2 year+ interest free and put the money in an ISA (i'm with First Direct who offer 0.75%.

    I already have a regular saver with both FD and Nationwide at 5%, and a current account with Nationwide at 5% (on 2.5k)

    So I guess the rest would just by syphoned in the 0.75% ISA... unless anyone has any better ideas? I'd love to hear them.

    Many thanks for reading.
Page 1
    • Ben8282
    • By Ben8282 10th Apr 18, 1:58 AM
    • 2,408 Posts
    • 1,103 Thanks
    Ben8282
    • #2
    • 10th Apr 18, 1:58 AM
    • #2
    • 10th Apr 18, 1:58 AM
    Well a 500pm spend on a 0.5% cashback card will earn you 2.50pm in cashback less any fees associated with the card. For example, the Santander card has a 3pm fee so if you get this card you will be making a loss of 50p per-month. With regard to Amex cashback products best make sure that wherever you spend your 500 accepts Amex.
    With such a low monthly spend it hardly seems worth bothering.
    I think a 0% purchases card and interest on your money is probably the best way to go.
    Your reason for not having had a credit card for years and doing all your spending on a debit card makes no sense really. You could use any old credit card to get 56 days interest free credit and pay in full by direct debit earning a months interest on your money.
    .
    Last edited by Ben8282; 10-04-2018 at 2:17 AM.
    • blitzboy
    • By blitzboy 10th Apr 18, 10:22 AM
    • 459 Posts
    • 255 Thanks
    blitzboy
    • #3
    • 10th Apr 18, 10:22 AM
    • #3
    • 10th Apr 18, 10:22 AM
    Well a 500pm spend on a 0.5% cashback card will earn you 2.50pm in cashback less any fees associated with the card. For example, the Santander card has a 3pm fee so if you get this card you will be making a loss of 50p per-month.
    .
    Originally posted by Ben8282


    There are options available for cards without an annual fee. In my wallet at the moment:


    ASDA card. If you shop a lot at ASDA (including fuel & George) their card gives 1% on all ASDA spending, but not a lot for any other shopping (was 0.5% but dropping to something like 0.2% this month).


    For all non-ASDA shopping I currently use the Amazon Platinum card which pays out in points which get converted to amazon vouchers once you've earned enough for a 10 voucher. This works out at 0.5% on general spend and a bit more on amazon spend (0.75% I think). Again, fee free.
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