Credit card with benefits

JAZZMANB said:
You sound like the bloke on the phone
No big deal it's done ,jobsworth mentality ,I won't be missed but likewise they can do one
A customer didn't pay me for 4 month while he went through a divorce ,great business just needed a temporary arrangement
Paid me back tenfold in business .That's the world outside massive Corporate business models
Like I said they'll spend a fortune on training to understand customers ,bless em
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It'll mean nowt, unless you want credit, in which it might mean something, it might not though.
 


Ghost of Bagpuss said:
So it appears that Martin Lewis wannabe @Le Chuck who accuses other people of talking shit, is actually talking shit. What a lovely ironic thing to wake up to on a morning :lol:
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All his link shows is how much visa/mastercard take. It doesnt show how much the bank takes. Having done a bit of a search theres lots of fingers in the pie on credit card fees.
 
JAZZMANB said:
Again,playing the risk game ,1 missed payment on 30 plus years of outstanding payment history ? do that say "risk" to anyone ?
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They won't see 30 years of data. Regardless though, a missed payment may make you more of a risk to some lenders, it'll depend on their criteria. Some will not auto accept with your record, so you might finder it harder to get an instant acceptance, for example.

Are you really much of a risk now? I doubt it, unless the reason you missed the payment is because you're in the shit financially, I might suspect it's possible, maybe not if you go back to "normal" for a year or so.
 
AndrewP said:
They won't see 30 years of data. Regardless though, a missed payment may make you more of a risk to some lenders, it'll depend on their criteria. Some will not auto accept with your record, so you might finder it harder to get an instant acceptance, for example.

Are you really much of a risk now? I doubt it, unless the reason you missed the payment is because you're in the shit financially, I might suspect it's possible, maybe not if you go back to "normal" for a year or so.
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Who ? I'm happily clueless on all this because i can be but surely a"record" or " history" is exactly that,taking 1 thing in isolation is barmy.I missed the payment because the balance was so small £111,as a matter of principle i cleared the whole balance last night £1155.00 .A grand is roughly where its at every month .If companies want to panic on a £5 or look at one missed payment let them
 
JAZZMANB said:
Who ? I'm happily clueless on all this because i can be but surely a"record" or " history" is exactly that,taking 1 thing in isolation is barmy.I missed the payment because the balance was so small £111,as a matter of principle i cleared the whole balance last night £1155.00 .A grand is roughly where its at every month .If companies want to panic on a £5 or look at one missed payment let them
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They (the credit reference agencies) don't provide data for thirty years, more like 6 or something like that, can't remember exactly. Your missed payment will show on your record and some lenders don't like people who miss payments, even if it's a one off, especially if the one off thing was recent.

Set up a direct debit for the minimum payment, that way if you forget to pay your balance in time you'll only be out of pocket for the interest and it'll have no impact on your credit file.

This article explains it better than me

Can late payments affect a mortgage application?
 
AndrewP said:
They (the credit reference agencies) don't provide data for thirty years, more like 6 or something like that, can't remember exactly. Your missed payment will show on your record and some lenders don't like people who miss payments, even if it's a one off, especially if the one off thing was recent.

Set up a direct debit for the minimum payment, that way if you forget to pay your balance in time you'll only be out of pocket for the interest and it'll have no impact on your credit file.

This article explains it better than me

Can late payments affect a mortgage application?
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Ok doke,just had email off them ,giving me the charges back
i said i dont mind charges ,i missed the payment.I do mind phone calls to work and blocking me until i pay .
 
Edinburgh Black Cat said:
Credit cards will most likely lose money if they are paying cashback on a card someone pays off every month.

They only earn about 0.3% on each transaction. (Amex earn more which is why they have better rewards)



I use the RBS Reward credit card (presume Natwest have the one).

1% in supermarkets & 0.5% cashback on everything else (including fuel at supermarkets). Also do temporary deals at certain retailers or on contactless everywhere - did 10% cashback on contactless in December and 10% back in bars/restaurants about 3 years ago. Superb!

Just checked how much I've earned on that card, over £500 quid on credit card cashback and around £200 on direct debit cashback.

Can't fault it for £2 a month like.
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Depends on how much you spend on it and if you want to pay a monthly fee or not I suppose.
 
JAZZMANB said:
Ok doke,just had email off them ,giving me the charges back
i said i dont mind charges ,i missed the payment.I do mind phone calls to work and blocking me until i pay .
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Nice of them to waive charges anyway I suppose. It's easy enough to forget to pay if you've got a lot on, that's why a direct debit for the minimum amount is the way to do it, unless you're on top of it.
 
Le Chuck said:
All his link shows is how much visa/mastercard take. It doesnt show how much the bank takes. Having done a bit of a search theres lots of fingers in the pie on credit card fees.
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Visa/MasterCard collect interchange (the 0.3%) for the banks (this money goes to the banks). The banks then have a separate agreement whereby they pay Visa/MasterCard etc. for providing that service.

I think you're getting mixed up between the income the issuing bank (i.e. the one who gives the customer a card paying cashback) earns and income earned by other parties e.g. the bank/service provider who allows the retailer to take card payments.
 
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Anyone got any recommendations on a reward credit card, currently looking at
British Airways American Express Premium Plus card

WS also looking at an alternative virgin card.
 
hairynaker said:
Anyone got any recommendations on a reward credit card, currently looking at
British Airways American Express Premium Plus card

WS also looking at an alternative virgin card.
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I recently upgraded to Amex platinum and it’s a cracking card, but you need to get the value from the annual fee.

I also have the Lloyd’s MasterCard Avios in case places don’t take Amex. The Avios return isn’t great, but it’s better than nothing.

Every penny we spend, with the exception of the mortgage etc, goes on one of the above cards.

The BA card is good, but the 20k spend for a 2-4-1 voucher is a little excessive imo - although it’s pretty easy to spend that as long as you are disciplined. The 5000 points introduction isn’t great, but sadly Amex has slashed the points across the board
 
hairynaker said:
Anyone got any recommendations on a reward credit card, currently looking at
British Airways American Express Premium Plus card

WS also looking at an alternative virgin card.
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Had ba one a year and got 2 flights first class to use. Far more convenient if nearer heathrow like.

For that reason just changed it to amex £25 a year fee 1% cashback. Use it for everything including work so often £40 a month for nowt.
 
We have a 123 card. We put most of our spending on it and usually max out the £9 a month max cash back. It’s not as good as it used to be, but we looked at other cash back cards and it was better than them if we maxed the cash back limits every month.
 
JAZZMANB said:
Any suggestions folks ?,dont need good rates or nowt ,always flatten the balance every month

Had my card people ring me today as i missed my payment for the first time ever ,as i say always flatten it every month
the min payment was £5 (£111 bill) ,he asked if i'd pay today i said no, i'll pay the same time i always do so he blocked my card.So i'm a risk for a fiver with a £6500 cr limit on my card ,Knackers
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They rang you for 5 quid ? ffs
 

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