Bag £200 a Year With a Cash Back Credit Card

Customers are starting to discover that by buying everything on their cash back credit card and paying it off in good time every month, it is possible to clear as much as £200 back in a year, and sometimes more than that.

Cash back credit cards operate by refunding you a small percentage of what you have spent using the card, usually between 0.5% and 1.5% of total expenditure.

Surprisingly, some cash back credit cards, during their introductory phases, will even give you back as much as 5%. That's enough to light up those flashing £ signs in your eyes!

What you will be able to save will add up during the course of the year. For example, someone spending in the region of say £13k - £14k per annum and using their cash back credit card for all transactions during that time will be richer by as much as £200 by the end of the year. 

So what should you be looking out for when you compare cash back credit cards?

Ask Yourself: How much cash back will I get?

You must focus chiefly on the cash back rate when you are browsing through the comparison tables to accurately weigh up the options of the various cash back credit cards available.

Do remember that the highest cash back amount which any card offers will usually only last a few months, so it is best not to set too much store by the higher figures on the credit card comparison tables.

To get a more accurate comparison of the various cash back credit cards - there are not that many at present - it is best to examine the small print carefully to see exactly what levels of cash back rewards are on offer, rather than concentrating on the more lavish rates aimed at attracting customers.

Ask Yourself: Will I get cash back on everything I buy using the card?

Some of the cash back credit cards, like Egg credit card, offer cash back on goods bought from selected stores only, which though generous, is restrictive.

It is preferable to ensure that the cash back facilities on your credit card apply to all purchases at outlets of your choice. After all, there are enough restrictions in everyday life without adding to them!

Ask Yourself: How much will I pay in interest if I don't meet the minimum monthly payments? 

In order to get the most out of the cash back credit card system, you must ensure that you meticulously pay your credit card bills in full before the end of the month or you will be hit by the card's penalty rate (APR), immediately obliterating any profits you have accrued from the cash back facility.

To maximise cash back you should buy everything on the cash back credit card, but any lapse in paying off the full amount owing on your card by due date will sadly leave you being pole axed by the dreaded APR.

Ask Yourself: Have I compared the best cash-back credit cards?

The leader of the pack in the cash back credit card field, American Express Platinum credit card, is currently offering an incredible introductory cash back rate of 5%.
Whilst this sounds a pretty good initial offer, in reality it will get you 1.5% cash back if you spend more than £10,001 on the card in any year.

Still, if you spend a little over £13,000 during the first year on the best cash back credit card on offer at the moment, you’ll find yourself richer to the tune of £285 by the end of that year and by a further £201 a year after that.

Independent money and finance writer Shirley Stevens specialises in the credit card market, writing extensively for ChooseMoney.co.uk - the personal finance site that allows you to compare credit cards and find the best cash back credit card.

REAP MORESAVE MORE WITH THE BEST UK CREDIT CARD

In the United Kingdom, the credit card phenomenon is not at all different from what the United States or any other country has for that matter. This just goes to show that a lot of people are finding credit cards as feasible means as well.

However, most people in UK would rather obtain the best credit card there is than to suffer at a later stage. And so, getting the best UK credit card is very significant for most English people. In most instances, the best credit cards would usually mean low interest rates, offers rewards, and excellent introductory rates.

But then, it is really important for every UK consumer to shop around for the best credit card deal.

And so, here are some of the best UK credit cards:

1. Virgin credit cards

The very best feature of Virgin credit card is that it allows their consumers to prefer which features they would want to have on their credit cards. That means they could have the chance of getting a 0% balance transfer rate for 9 months, a fixed annual percentage rate of 15.9%, plus more rewards every time the credit card holder uses the card.

What's more, people get to choose their very own creative Virgin card motif making it way above the rest.

Virgin credit card also offers great flexibility.

2. The Marbles credit card

This UK credit card is considered nowadays as the card with the best value and has a high orientation on customer service. They have a 24 hour customer service hotline. Plus, they also provide a regular monthly statement through online announcements. 

It also has 0% stable balance transfer rate for 6 months from the start the account has been opened.

3. Morgan Stanley Credit Card

This is considered as one of the best UK credit cards because it has 0% introductory rates for balance transfers good for 6 months. It also offers a fixed rate of 14.9%, and their 1% cashback is considered as one of the highest available in the UK market today.

4. The egg credit card

In UK, egg credit card is considered as one of the best credit card in the industry today. It also offers 0% introductory offer not only for balance transfers but also for ordinary purchases, and that is available all through out the 6-month period. Their annual percentage rate is also set to a standard rate of 14.9%.

With all these 0% introductory rates, low APRs, and everything, these credit cards are definitely the best UK credit cards in the market today. Hence, for most UK consumers, shopping had never been this better.

More information about credit and credit cards is available at http://stooze.co.uk/>stooze online