Credit card question

The card should be fine just being left behind they rarely cancel inactive cards for that mount of time. If you do use it abroad bare in mind the fees most charge for it and ensure you have money in your uk account to cover it. Oh and look out to see if said card has a monthly rate.

Reply 3

Original post by tomekplnd

Well for now I applied for an Amex Platinum Cashback Everyday credit card which for the first 21 months is completely interest-free. One of the things that made me interested in the card apart from the 21 month interest-free purchases is this "Enjoy a generous 5% cashback on virtually everything you buy for 3 months, on up to £2,000 in purchases."
So basically if I spend a grand during those 3 months, I will receive a £50 cashback, is that going to go directly to my debit card account or what?

Christ mate, how good is your credit rating?!?!

Reply 4

Tiger Rag

Check. My cash back doesn't. It gets taken off what I owe them (nationwide) at the end of the year.

Reply 5

OP

Original post by IWMTom

Christ mate, how good is your credit rating?!?!

Apparently it's 241 out of 700

Reply 6

Original post by tomekplnd

Apparently it's 241 out of 700

Is that Equifax (ClearScore)? It's a bit low for a 0% card if so...

Reply 7

OP

Original post by IWMTom

Is that Equifax (ClearScore)? It's a bit low for a 0% card if so...

Got my score on there yeah.
Proof I got it:
Congratulations, your application for the Platinum Cashback Credit Card has been approved. You'll soon be enjoying all the amazing benefits of being an American Express Cardmember.

Reply 8

Original post by tomekplnd

Got my score on there yeah.
Proof I got it:
Congratulations, your application for the Platinum Cashback Credit Card has been approved. You'll soon be enjoying all the amazing benefits of being an American Express Cardmember.

Honestly very surprising. You must have an impecibly high income.

Reply 9

Mega0448

13

Hmm I'm not so sure it's interest free. I have an AMEX Platinum cashback and it's not zero interest. If you pay your balance on time every month it's interest free... Maybe that's where you're getting it mistaken?*

Reply 10

OP

Original post by IWMTom

Honestly very surprising. You must have an impecibly high income.

I get like 10k a year. :lol:

Unless I filled out the application wrong, but I don't think so.

Reply 11

OP

Original post by Mega0448

Hmm I'm not so sure it's interest free. I have an AMEX Platinum cashback and it's not zero interest. If you pay your balance on time every month it's interest free... Maybe that's where you're getting it mistaken?*

You are right, if I don't pay on time, interest will be applied. I'm sorry if I mistaken every one but I thought it is still 0% nevertheless.

Reply 12

Original post by tomekplnd

You are right, if I don't pay on time, interest will be applied. I'm sorry if I mistaken every one but I thought it is still 0% nevertheless.

I took a look and the typical rate is 22.5%! That explains things 😂😂

Reply 13

Original post by tomekplnd

Well for now I applied for an Amex Platinum Cashback Everyday credit card which for the first 21 months is completely interest-free. One of the things that made me interested in the card apart from the 21 month interest-free purchases is this "Enjoy a generous 5% cashback on virtually everything you buy for 3 months, on up to £2,000 in purchases."
So basically if I spend a grand during those 3 months, I will receive a £50 cashback, is that going to go directly to my debit card account or what?

Ah I used to have that card, switched it out for the Platinum charge card though.
If memory serves its just credited against your statement after x amount of time though.

Reply 14

OP

Original post by Napp

Ah I used to have that card, switched it out for the Platinum charge card though.
If memory serves its just credited against your statement after x amount of time though.

Let me get it straight then, if I make a purchase of around £500 on friday on the credit card (15/07) am I going to have to pay the credit back at the end of the month?

Reply 15

Original post by tomekplnd

Let me get it straight then, if I make a purchase of around £500 on friday on the credit card (15/07) am I going to have to pay the credit back at the end of the month?

No only the charge card mandates full repayment. With your card you only need to make whatever the minimum repayment is on the billing date.

Reply 16

OP

Original post by Napp

No only the charge card mandates full repayment. With your card you only need to make whatever the minimum repayment is on the billing date.

So as long you pay the minimum repayment or over you are free of any interest right? Also how long would I have to pay the bill from let's say 15th July, would it be at the end of the month?

Reply 17

Original post by tomekplnd

So as long you pay the minimum repayment or over you are free of any interest right? Also how long would I have to pay the bill from let's say 15th July, would it be at the end of the month?

Bingo, or atleast until the promotion wears off. Ummm not necesserily it depends on what they set your billing date as i.e. it can fall wherever in the month but you'll then be given a month from that date, well technically about 25 days as thats when your statement is generated.

Reply 18

OP

Original post by Napp

Bingo, or atleast until the promotion wears off. Ummm not necesserily it depends on what they set your billing date as i.e. it can fall wherever in the month but you'll then be given a month from that date, well technically about 25 days as thats when your statement is generated.

Well hopefully they won't surprise me with the repayment 7 days after I make the purchase, they surely have to give some notice before the billing date.

Reply 19