PRN: Make the Most of Your Summer Spending and Reap Rewards From a Cashback Card

30/lug/2012 12:47:43 PR Newswire Turismo Contatta l'autore

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Make the Most of Your Summer Spending and Reap Rewards From a Cashback Card


CHESTER, England, July 30, 2012 /PRNewswire/ --

- Earn hundreds of pounds extra by being savvy

Summer is an expensive time for families as they fork out on activities and holidays to keep their children entertained, but they could generate some extra money by using a reward card for their spending, according to MoneySupermarket.

Shoppers can make big savings when considering a reward credit card for their purchases. For example, spending £1,000 a month on the American Express Platinum Card (which offers five per cent cashback on up to £2,000 of purchases in the first three months, and 1.25 per cent cashback on everything bought after three months) could gain an extra £225 cash back in a year, increasing to £375 a year when spending £2,000.*

There are also a number of cards designed for shoppers who use their plastic to pay for their weekly grocery or fuel shop. The Tesco Clubcard Credit Card at 16.9 per cent APR for example offers zero per cent on balance transfers for eighteen months or zero per cent on purchases for sixteen months. In addition, points accrued from shopping and petrol are rewarded with five points for every £4 spent in Tesco or one point if spent elsewhere. NatWest's Your Points MasterCard has a slightly higher APR of 17.9 per cent but offers zero per cent on purchases for eighteen months and has a points system for every pound spent, which can be used towards flights, holidays and even on certain brands such as M&S, Boots and Amazon.

Kevin Mountford, head of banking at, said: "With the additional pressure on household wallets during the summer months, consumers could help to bring a bit of sunshine to their finances by being savvy with the plastic they use for their spending.

"For those who pay off their debt in full each month using cashback and reward cards is a no brainer, as you can benefit from a broad range of incentives on offer, including cash back, air miles and loyalty club points. It is essential you are able to pay off the full balance each month, ideally by a direct debit, to avoid getting stung by interest charges. If you don't pay off your balance in full then the interest charges will outweigh any cashback benefit, making it pointless having a cashback card.

There are a number of cards to suit different circumstances as frequent travellers may benefit more from the American Express British Airways Card which gives air mile points on spending. It offers 1,000 bonus Avios air mile points when you spend £500 in the first three months, and one point for every pound subsequently.

Kevin Mountford continued: "Those looking to use a reward card should shop around first and consider the best card for their own circumstances. If you are a regular shopper it makes sense to look at a card which gives you money off your next shop, or a frequent traveller may benefit more from a card with air mile points for example. Many schemes are tied in to certain retailers and purchase types, and if you don't use them regularly in the right place your card will become redundant. It can take seven to ten days to receive a new card so if you are planning to apply for a card for the summer holidays, you will need to apply now."

MoneySupermarket has a SmartSearch credit profiling tool to help those looking for the best credit card deals for their circumstances. The tool matches the customer's credit profile against the card they are most likely to be accepted for, but doesn't leave a footprint on their credit file.

Notes to Editors:


                                                    Annual           Annual                                               Cashback/Rewards Cashback/Rewards                                                   based on         based on                Rep   Introductory             GBP1,000 monthly GBP1,500 monthly     Provider   APR      Period     Benefits        spend            spend                                   5% cashback                                    on up to                                   GBP2,000 of                                    purchases                                     in the                                     first 3                                     months                                      1.25%                                   cashback on                                   everything  5% x GBP2,000 =               18.5%                 you buy        GBP100      5% x GBP2,000 =     American  (based                Double        1.25% x           GBP100     Express     on                cashback of   GBP10,000 =        1.25% x     Platinum  annual               2.5% for        GBP125         GBP16,000=     Cashback  fee of               one month      Total =           GBP200     Card      GBP25)     N/A      every year     GBP225.00      Total = GBP300                                   1% cashback                                       on                                   supermarket                                      spend      Supermarket      Supermarket                                   2% cashback spend x GBP6,000 spend x GBP6,000                                       on          = GBP60          = GBP60                                   department      Petrol x         Petrol x               22.8%               store spend    GBP3,600 =       GBP3,600 =               (Based              3% cashback      GBP108           GBP108                 on                  on fuel   Department Store Department Store               annual              spend up to spend x GBP2,400 spend x GBP2,400     Santander fee of              GBP300 per      = GBP48          = GBP48     123 Card  GBP24)     N/A         month     Total - GBP216   Total - GBP216                                   5% cashback                                     in the                                     first 3                                    months up                                     to max                                     GBP100                                      0.5%                                   cashback on                                       all                                   subsequent                                    purchases                                    up to the                                      next                                   GBP5,999.99                                   1% cashback                                     on all                                    purchases                                      from     5% x GBP3,000 =  5% x GBP3,000 =                                   GBP6,000 to      GBP100           GBP100                                   GBP9,999.99      0.5% x           0.5% x                                      1.25%     GBP5,999.99 =    GBP5,999.99 =                                   cashback on     GBP29.99         GBP29.99                                       all     1% x GBP3,000.01 1% x GBP9,000.01     Aspire                         purchases     = GBP30.00       = GBP90.00     World                            from         Total =          Total =     Card      19.9%      N/A       GBP10,000     GBP159.99        GBP219.99                                   1% cashback                                     om ASDA                                    shopping                    ASDA shopping x                                   1% cashback ASDA shopping x  GBP3,000 = GBP30                                   at any ASDA GBP3,000 = GBP30     Petrol x                                     petrol        Petrol x     GBP3,600 = GBP36                         0% on       station   GBP3,600 = GBP36 Spend elsewhere     ASDA               balance       0.5%     Spend elsewhere   x GBP11,400 =     Money             transfers    cashback     x GBP5,400 =        GBP57     Credit              for 12    everywhere       GBP27           Total =     Card      14.9%     months       else     Total = GBP93.00    GBP123.00 

Table continues

                                                                    Annual                                                               Cashback/Rewards                                                                   based on                             Annual Cashback/Rewards based on  GBP3,000 monthly            Provider              GBP2,000 monthly spend            spend                                                               5% x GBP2,000 =                                                                    GBP100                                                                   1.25% x                                  5% x GBP2,000 = GBP100         GBP34,000 =     American Express           1.25% x GBP22,000 = GBP275          GBP425     Platinum Cashback Card           Total = GBP375            Total = GBP525                                                                 Supermarket                                                               spend x GBP6,000                                                                   = GBP60                                                                   Petrol x                              Supermarket spend x GBP6,000 =      GBP3,600 =                                          GBP60                     GBP108                                Petrol x GBP3,600 = GBP108     Department Store                            Department Store spend x GBP2,400  spend x GBP2,400     Santander                           = GBP48                   = GBP48     123 Card                         Total - GBP216            Total - GBP216                                                               5% x GBP3,000 =                                                                    GBP100                                                                    0.5% x                                                                GBP5,999.99 =                                                                   GBP29.99                                                               1% x GBP9,999.99                                                                  = GBP99.99                                  5% x GBP3,000 = GBP100           1.25% x                              0.5% x GBP5,999.99 = GBP29.99     GBP17,000.02 =                               1% x GBP9,999.99 = GBP99.99        GBP212.50     Aspire                   1.25% x GBP5,000.02 = GBP62.50       Total =     World Card                     Total = GBP292.48             GBP442.48                                                               ASDA shopping x                                                               GBP3,000 = GBP30                                                                   Petrol x                                                               GBP3,600 = GBP36                             ASDA shopping x GBP3,000 = GBP30  Spend elsewhere                                Petrol x GBP3,600 = GBP36       x GBP29,400 =                              Spend elsewhere x GBP17,400 =         GBP147     ASDA Money                           GBP87                    Total =     Credit Card                    Total = GBP153.00             GBP213.00 


                                                      Annual           Annual                                                 Cashback/Rewards Cashback/Rewards                                                     based on         based on                  Rep  Introductory              GBP1,000 monthly GBP1,500 monthly      Provider    APR     Period      Benefits        spend            spend                                      Receive                                       double                                    Nectar card                                     points on                                    shopping in                                       store,                                     online and                                     in petrol                                      filling                                    stations for                                      2 years.                                     This means                                      you will                                     receive 4                                     points per                                     GBP1 spend                                         in                                    Sainsbury's,                                    2 points per                                     1 litre of    Sainsbury's      Sainsbury's                                    Sainsbury's     shopping x       shopping x                                     fuel and 2     GBP6,000 =       GBP6,000 =                                     points per   24,000 points    24,000 points                                     GBP5 spent   Petrol x 2,664   Petrol x 2,664                                     elsewhere    litres = 5,328   litres = 5,328                                     Customers        points           points                                     must be a   Spend elsewhere  Spend elsewhere     Sainsbury's                    Nectar Card  = GBP2,400 = 960   = GBP8,400 =     Finance                         holder to        points        3,360 points     Nectar Card                    obtain this   Total - 30,288   Total - 32,688     Credit Card 12.9%     N/A         card.      points/GBP150   points/GBP162.50                                    1,000 bonus                                    Avios points                                      when you                                    spend GBP500                                    in the first  13,000 points    19,000 points     American                         3 months     Express                          1 Avios     500 points = a   500 points = a     British                         point for    one way flight   one way flight     Airways                        every pound  from Manchester  from Manchester     Card        19.9%     N/A         spent         to Paris         to Paris                         A choice   5 points for                         between:    every GBP4                        0% for 16     spent in                        months on   Tesco stores Tesco shopping x Tesco shopping x                        purchases   5 points for GBP6,000 = 7,500 GBP6,000 = 7,500                           or;       every GBP4       points           points                       0% interest    spent on       Petrol x         Petrol x                        on balance   Tesco fuel  GBP3,600 = 4,500 GBP3,600 = 4,500                        transfers   1 point for       points           points                          for 18     every GBP4  Spend elsewhere  Spend elsewhere                          months       spent     = GBP2,400 = 600   = GBP8,400 =                          (3.95%     elsewhere        points        2,100 points     Tesco               balance    150 points =  Total - 12,600   Total - 14,100     Clubcard          transfer fee   GBP1.50      points/GBP84     points/GBP94     Credit Card 16.9%   applies)     voucher        voucher          voucher                                      1 point                                    received per   Supermarket      Supermarket                                    GBP1 spent.  spend x GBP6,000 spend x GBP6,000                                     Points can   = 6,000 points   = 6,000 points                                      be used        Petrol x         Petrol x                                      towards    GBP3,600 = 3,600 GBP3,600 = 3,600                                      flights,        points           points                                    holidays and Spend elsewhere  Spend elsewhere     NatWest                         on brands     x GBP2,400 =     x GBP8,400 =     YourPoints         0% for 18   such as M&S,   2,400 points     8,400 points     World              months on    Boots and    Total - 12,000   Total - 18,000     MasterCard  17.9%  purchases     Amazon.         points           points 

Table continues

                                                                    Annual                                                               Cashback/Rewards                                                                   based on                                 Annual Cashback/Rewards based GBP3,000 monthly              Provider             on GBP2,000 monthly spend        spend                                                                 Sainsbury's                                                                  shopping x                                                                  GBP6,000 =                                                                24,000 points                                                                Petrol x 2,664                                    Sainsbury's shopping x      litres = 5,328                                   GBP6,000 = 24,000 points         points                                 Petrol x 2,664 litres = 5,328 Spend elsewhere                                            points              = GBP26,400 =                                 Spend elsewhere = GBP14,400 =  10,560 points     Sainsbury's Finance                 5,760 points           Total - 39,888     Nectar Card Credit Card     Total - 35,088 points/GBP175   points/GBP198                                                                36,000 points                                           24,000 points          500 points = a                                                                one way flight     American Express            500 points = a one way flight from Manchester     British Airways Card          from Manchester to Paris        to Paris                                                               Tesco shopping x                                                               GBP6,000 = 7,500                                                                    points                                                                   Petrol x                                  Tesco shopping x GBP6,000 =  GBP3,600 = 4,500                                         7,500 points               points                                   Petrol x GBP3,600 = 4,500   Spend elsewhere                                            points              = GBP26,400 =                                 Spend elsewhere = GBP14,400 =   6,600 points                                         3,600 points           Total - 18,600     Tesco                       Total - 15,600 points/GBP104   points/GBP124     Clubcard Credit Card                   voucher                voucher                                                                 Supermarket                                                               spend x GBP6,000                                                                = 6,000 points                                                                   Petrol x                                 Supermarket spend x GBP6,000  GBP3,600 = 3,600                                        = 6,000 points              points                                   Petrol x GBP3,600 = 3,600   Spend elsewhere                                            points              x GBP26,400 =                                 Spend elsewhere x GBP14,400 =  26,400 points     NatWest                             14,400 points          Total - 36,000     YourPoints World MasterCard     Total - 24,000 points          points's customer commitment

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