30 Mar 2018

A question about : Cash Back Credit Cards

Morning All

I am thinking of taking out a cashback credit card to make some extra money on the normal things I buy. I am a bit worried that I will use more than I think but if I just stick to buying petrol on it, as I know exactly what I save for it every month and as soon as I have bought it I can pay it off, then I could make around Ј70 in a year, which will go towards my challenge in my sig.
Does anyone know of any good cashback credit cards?

DFM

Best answers:

  • Hi Debt Free Me -
    I have moved your thread to the Credit card board where you will probably get loads more advice than on the DFW board
    FYI I have the AMEX cashback card - I like the fact it's good cashback but also that I can pay it easily and quickly online
  • MrsTine - thanks for that
    lisyloo - I worked that out on 5% which was one I saw, I spend Ј120-Ј150 on petrol a month, so was more a higher expectation of cashback.
  • We use an Amex (0.5% for the first Ј3500pa; 1% up to Ј10000 and 1.5% for everything over Ј10K); Capital One (1% on all); and a Barclaycard Cashback Mastercard (1% on the first Ј200 every month).
    You'll get lots of introductory offers with higher rates - the above are established rates once they've got you! If you have an "other half" it's obviously worth getting a joint card with Amex.
    The Asda storecard was best for petrol as it gives 2p/litre discount but they're cutting that back to 1p/litre from 1st March
  • 5% is for 3 months only (with Amex), so I think your calcs are wrong.
    Although you can get about Ј35 cashback for applying for AMEX with some sites (like quidco).
    It's worth putting as much as possible of your normal spending on a cashback card e.g. food.
  • Thanks lolarentt, I will look into those
  • You may find this cashback calculator useful...
    https://www.stoozing.com/cashcalc.htm
  • Thanks Lisyloo. I haven't looked into it all properly yet so my calculations probably are wrong, every little helps though even if it works out less.
  • Thanks YorkshireBoy
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