Cash back credit cards
Discussion
I currently have a Capital One credit card with cash back. I use it for most purchases purely for the cash back which generally gets me around £150 a year (I try not to think what that means I've spent!).
Unfortunately, Capital One are ditching the cash back so I need to change cards. Will be a blessing actually because the credit limit is occasionally too low and it seems capital one will only put it up for people who don't clear the balance.
Any recommendations? I don't really want to pay a fee but I suppose if I'm still better off Nett then I could. Didn't have to be cash rewards I suppose if it's something else that really would be useful.
Unfortunately, Capital One are ditching the cash back so I need to change cards. Will be a blessing actually because the credit limit is occasionally too low and it seems capital one will only put it up for people who don't clear the balance.
Any recommendations? I don't really want to pay a fee but I suppose if I'm still better off Nett then I could. Didn't have to be cash rewards I suppose if it's something else that really would be useful.
Simpo Two said:
davek_964 said:
Unfortunately, Capital One are ditching the cash back so I need to change cards.
I haven't heard anything to that effect... which cards exactly?davek_964 said:
capital one will only put it up for people who don't clear the balance.
Ah, 'banker's logic'... 
Simpo Two said:
davek_964 said:
Unfortunately, Capital One are ditching the cash back so I need to change cards.
I haven't heard anything to that effect... which cards exactly?davek_964 said:
capital one will only put it up for people who don't clear the balance.
Ah, 'banker's logic'... Raise the limit to £20K for someone that pays it back each month means they have to have £20K "invested" that they won't see any return on.
Raise the limit for someone that DOESN'T pay it back every month & they charge interest on it, meaning they DO see a return on their £20K investment.
It's good for them, but it also means that people who can't afford to pay off their CC bill get tempted to spend more money. Easy credit/lending to the feckless is what led to 2008. But it's nice that the feckless are paying for my 1% so I suppose I should shut up 
My solicitor had been a bank manager. He said that extending credit was like dragging a drowning man into shallower water - but further from shore, which is a nice analogy!
My solicitor had been a bank manager. He said that extending credit was like dragging a drowning man into shallower water - but further from shore, which is a nice analogy!
swerni said:
Simpo Two said:
It's good for them, but it also means that people who can't afford to pay off their CC bill get tempted to spend more money. Easy credit/lending to the feckless is what led to 2008. But it's nice that the feckless are paying for my 1% so I suppose I should shut up
My solicitor had been a bank manager. He said that extending credit was like dragging a drowning man into shallower water - but further from shore, which is a nice analogy!
what utter drivelMy solicitor had been a bank manager. He said that extending credit was like dragging a drowning man into shallower water - but further from shore, which is a nice analogy!
Are you trying to say that people are thowiimg themselves into debt to get £5 back for every £1000 they spend?
I have a Tesco MasterCard, which give 0.25% back in clubcard vouchers. Then double or triple the vouchers for something I need (usually something for the kids birthdays.....
)In the same boat with Capital One Mastercard, also had the same issue with increasing credit limit, it's been stuck @ £7.5k for years despite spending nearly double that every month. Does their Platinum card offer cashback? If so, bet they wouldn't offer it to existing customers anyway.
AmEx is of limited use (have £17k limit that rarely gets used), Santander card doesn't look to be much good unless you shop in supermarkets & buy lots of fuel?
Best I can find so far are the Tesco card mentioned above, this only makes sense if you convert points to vouchers, I prefer cash. Other one is Natwest/RBS offering 0.5%, not sure if this is capped.
It's been a good run, many have made thousands off of these cards over the years, just a shame to see it disappearing.
AmEx is of limited use (have £17k limit that rarely gets used), Santander card doesn't look to be much good unless you shop in supermarkets & buy lots of fuel?
Best I can find so far are the Tesco card mentioned above, this only makes sense if you convert points to vouchers, I prefer cash. Other one is Natwest/RBS offering 0.5%, not sure if this is capped.
It's been a good run, many have made thousands off of these cards over the years, just a shame to see it disappearing.
Simpo Two said:
How long does the 1% last for? In the scheme of things that's very good.
The life of the card once you have spent a certain amount. It drops from 5% to 0.5 and then up too 1. As I use it for work expenses and my everyday spending it's got to the 1%natwest also have a rewards cash back scheme. Not as good
But you get 1% back on all contactless payments which isn't bad
New EU cap on fees card providers can charge retailers which in theory makes it cheaper for the consumer. No more surcharge if you want to pay by credit card. Card providers used this fee to offer cash back incentives and reward points for redemption against 'gifts'.
I was speaking with NatWest yesterday and they were telling me that reward points on my Black account will cease soon and any points already accrued will need to be used by the end of the year or vanish into the ether !
Still have a non EU credit card so that will have to come into more use .
Bit more here
http://www.thisismoney.co.uk/money/cardsloans/arti...
I was speaking with NatWest yesterday and they were telling me that reward points on my Black account will cease soon and any points already accrued will need to be used by the end of the year or vanish into the ether !
Still have a non EU credit card so that will have to come into more use .
Bit more here
http://www.thisismoney.co.uk/money/cardsloans/arti...
V41LEY said:
New EU cap on fees card providers can charge retailers which in theory makes it cheaper for the consumer. No more surcharge if you want to pay by credit card.
Well it hasn't come in yet - last week a travel agent wanted 2% if paying by credit card, and many other places, if not most, add a surcharge now.Simpo Two said:
V41LEY said:
New EU cap on fees card providers can charge retailers which in theory makes it cheaper for the consumer. No more surcharge if you want to pay by credit card.
Well it hasn't come in yet - last week a travel agent wanted 2% if paying by credit card, and many other places, if not most, add a surcharge now."The bill was passed with 621 votes for, 26 against, and 29 abstentions, and the law is expected to take effect in October."
Gassing Station | Finance | Top of Page | What's New | My Stuff