How do you pay for yours ?
- Thread starter Avalon
- Start date
This.
i keep hearing this but am i thinking your getting cashback off your credit card (which is like 30% apr) or something else?
Err... how many people these days have no clue about personal finance?!
You don't pay interest on a credit card if you clear the balance in full every month. Therefore the cashback is just free money. Shell and Citibank do a card that give 3% back on fuel spend at Shell which is quite a significant amount.
the only cashback offers for MY cards are those ones where it costs you 30 odd percent... so i aint all mad
and it aint free money if you have to pay it back is it?
Credit card, normally pay at pump as the shop bit is normally shut when I get round to filling up.
Always use my tesco credit card, which gives me extra clubcard points which I have just converted into a trackday thingy to drive a ferrari and a lambo
Always use my tesco credit card, which gives me extra clubcard points which I have just converted into a trackday thingy to drive a ferrari and a lambo
the only cashback offers for MY cards are those ones where it costs you 30 odd percent... so i aint all mad
I'm confused, what on earth do you mean?
Purchases on a credit card are at 0% for a month, if you clear the balance you pay NOTHING. As olly has said, the cards then pay a further 3% cashback on certain transactions, which is completely free money.
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Oh I see... that's not at all what they mean.
You can't get cashback in a shop with a credit card anyway - the only reason why they offer it with debit cards is because the merchant fee is fixed regardless of the transaction charge, and the less cash they have to bank, the less they pay in fees.
Credit card cashback is when you get a rebate on certain spend, so for the Shell/Citibank Mastercard you earn 3% back on fuel spend at Shell, and 1% on purchases everywhere else, which is taken off the amount you owe on your monthly statement. It's free money basically - 3% with fuel prices as they are is over 3p/litre currently which is a sizeable discount.
http://www.citibank.co.uk/personal/cards/shell/cards_shell.htm?type=cards&merchant=citi&offer=A154
You can't get cashback in a shop with a credit card anyway - the only reason why they offer it with debit cards is because the merchant fee is fixed regardless of the transaction charge, and the less cash they have to bank, the less they pay in fees.
Credit card cashback is when you get a rebate on certain spend, so for the Shell/Citibank Mastercard you earn 3% back on fuel spend at Shell, and 1% on purchases everywhere else, which is taken off the amount you owe on your monthly statement. It's free money basically - 3% with fuel prices as they are is over 3p/litre currently which is a sizeable discount.
http://www.citibank.co.uk/personal/cards/shell/cards_shell.htm?type=cards&merchant=citi&offer=A154
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Up to 56 days if you buy something just after your statement date and pay it in full by the due date. My Egg Money card is 'only' up to 50 days - it varies.
cool, so i wasnt going mad and was thinking of something totally different.
No, crossed wires
Set up a a direct debit and put a low limit on it.