Bluefoxtim Posted 28 May 2015 Posted 28 May 2015 Just had a letter through from Natwest stating that the reward scheme on my credit card is being axed. It has essentially been free money for the past couple of years as I've always paid the card off in full each month. Anybody else have a credit card with benefits they can recommend?
Wymsey Posted 28 May 2015 Posted 28 May 2015 I'm with Lloyd's, with 'choice rewards' - gain choice points for every purchase made and redeem them for vouchers to shop at Amazon, Boots, Debenhams etc. Pretty handy.
Haydos Posted 28 May 2015 Posted 28 May 2015 Santander 123 gives you good cashback for your petrol and the current account money back on your household bills. Can be a decent little bit with the interest as well.
MPH Posted 28 May 2015 Posted 28 May 2015 There's no such thing as a rewards credit card... they just bump up ther interest you are paying to make it seem like you are getting a reward back....
Raj Posted 28 May 2015 Posted 28 May 2015 Gotta Tesco credit card and get loads of extra points n stuff which equate to day outs,weekend always etc. Cards are only good if you pay off your account every month in full,else watch the interest.
Rincewind Posted 28 May 2015 Posted 28 May 2015 Only good if you use them a lot. I do not have a credit card now just a debit card. Was refused one when I became rfedundant. Glad I was cuz I was at the desperate stage and the refusal made me finance better.
Stevosevic Posted 28 May 2015 Posted 28 May 2015 AMEX gives you 1% cash back, and usually a 2.5% bonus for the first 3 months. If you spend alot it can be worthwhile. I put all my work expenses on this card so i rack up quite a lot of spending and a lot of free money in return through cash back
Vicki Vixen Posted 28 May 2015 Posted 28 May 2015 There's no such thing as a rewards credit card... they just bump up ther interest you are paying to make it seem like you are getting a reward back.... Reward cards work very well if you pay your balance in full each month, which it looks like the OP intends to do.
Vicki Vixen Posted 28 May 2015 Posted 28 May 2015 AMEX gives you 1% cash back, and usually a 2.5% bonus for the first 3 months. If you spend alot it can be worthwhile. I put all my work expenses on this card so i rack up quite a lot of spending and a lot of free money in return through cash back I use Amex too, at least where it's accepted. Smaller businesses don't tend to accept it as it costs them a fortune to process transactions. I have Amex platinum because I travel for work a lot and it comes with free airport lounge access, and car hire and hotel perks, as well as travel insurance cover. It's pricy though and I am thinking of giving it up because Amex keep scaling back the perks every year without reducing the annual fee.
Haydos Posted 28 May 2015 Posted 28 May 2015 There's no such thing as a rewards credit card... they just bump up ther interest you are paying to make it seem like you are getting a reward back.... What interest? Not if you spend within your means and repay them every month.
Smudge Posted 28 May 2015 Posted 28 May 2015 I have an Amazon card and it's a nice feeling when I want to buy something and my rewards cover the cost.
Monk Posted 28 May 2015 Posted 28 May 2015 If You're interested in airline miles cards check out headforpoints.com. I do at least one business class return to the states a year on miles earned with credit cards. AMEX is best but MBNA have some good ones too. Current best offers are the Etihad cards and Virgin Atlantic too.
Filbert_Ross Posted 28 May 2015 Posted 28 May 2015 Me and the wag are into getting Nectar points, we have sainsburys credit cards, we pay for our sainsburys shopping on our credit cards and also all our sainsburys petrol, plus pretty much everything else, we pay the balance off each month. We've used the points to pay for our last two flights (santorini& Berlin ) as Easyjet accept nectar points. We also get our household energy through sainsburys which gets nectar points, as does eBay and just eat orders.
MPH Posted 29 May 2015 Posted 29 May 2015 Reward cards work very well if you pay your balance in full each month, which it looks like the OP intends to do. What interest? Not if you spend within your means and repay them every month. Trouble is of course , that 99% of people don't .even if that's your original intention...
Rincewind Posted 29 May 2015 Posted 29 May 2015 If for some reason your income falls short one month, illness short time and you have overspent on the card it is easy for some to say I'll pay my other bills but be short on the card because things will be better next month. If you have a big bank balance and savings it is less worry of course but then you would have a bigger credit limit allowing your expenditure to be in relationship to your income. Glad I no longer have to worry about paying a card off every month and just have enough to meet my needs.
The People's Hero Posted 29 May 2015 Posted 29 May 2015 If for some reason your income falls short one month, illness short time and you have overspent on the card it is easy for some to say I'll pay my other bills but be short on the card because things will be better next month. If you have a big bank balance and savings it is less worry of course but then you would have a bigger credit limit allowing your expenditure to be in relationship to your income. Glad I no longer have to worry about paying a card off every month and just have enough to meet my needs. This is true but perhaps those commenting are the kind of people who would go without other things ie regular trips to the pub to pay off their credit card? Or if they can't reduce outgoings perhaps they might work more hours or sell some stuff or what have you? I personally do all my spending on credit card and then pay it off in full every month. It really isn't rocket science For what it's worth I have a HSBC premier credit card and it's ok. It pays a fixed low percentage of all spending in points which may be redeemed for vouchers. I might switch to tesco as we do every shop with them now and the club card offers are very good. It's not just points to consider though. You should also look at acceptability (a mark against Amex) and customer service. I've not had a huge variety of cards but probably the best I had on that front was an MBNA company card.
notnow john Posted 29 May 2015 Posted 29 May 2015 When you make a purchase with a credit card, the retailer is charged a percentage. This has been found an unfair practice by the e.u courts. That's why banks are starting to withdraw cashack schemes.
Webbo Posted 29 May 2015 Posted 29 May 2015 Moneysavingexpert usually has the definitive answer to questions like these.
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