Best Spending Card to back up Amex Cashback?

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planteria
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Re: Best Spending Card to back up Amex Cashback?

Postby planteria » Sun Jan 24, 2016 10:27 pm

that looks right to me..
is there anything unusual about the way that payments are made online to Asda Bank? is this something specific to them?

joker
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Re: Best Spending Card to back up Amex Cashback?

Postby joker » Mon Jan 25, 2016 6:11 am

Oooh. So I could get 25 from quidco, 0.5% from Asda and then move it onto my current 0% purchase card which gives me spending vouchers.

Definitely one to consider.

kempiejon
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Re: Best Spending Card to back up Amex Cashback?

Postby kempiejon » Mon Jan 25, 2016 9:41 am

I'd await confirmation from the next statement but that looks like a great wheeze, potentially more valuable as a round robin plan than just double loyalty.

planteria
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Re: Best Spending Card to back up Amex Cashback?

Postby planteria » Tue Jan 26, 2016 8:43 am

how do you mean kempie?

kempiejon
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Re: Best Spending Card to back up Amex Cashback?

Postby kempiejon » Wed Jan 27, 2016 7:37 am

Planteria,

If I've understood it correctly and I've not got an Asda nor checked the specifics just interpreted what I read here.

If the card treats a BT as a purchase, just after statement date BT the max onto the MBNA transfer card. Money Transfer that to your current account then away into your best instant access savings vehicle. Before the next statement /payment date transfer back into the account from which the credit card is settled in time for the direct debit to pay in full the Asda card. I've not checked Asda's t&cs but most credit cards, with the right timing, one can get 48/50 days interest free on purchases. You earn the interest on your credit limit. It needs a large CL, a monthly process and probably a bit of working out to get the optimum dates.
This depends upon Asda not having a handling fee nor treating payments to other credit cards as money advances so you get the interest free period on the car, having a fee free Money Transfer route and a worthwhile credit interest account.

Sarah
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Re: Best Spending Card to back up Amex Cashback?

Postby Sarah » Wed Jan 27, 2016 7:48 am

If you can settle the Asda card by making a payment from Nationwide Select (which would be an anomaly itself, regardless of it earning cashback, since a credit card to credit card payment wouldn't usually be possible other than a balance transfer) then presumably there's no need to shift the funds via a current account as you'd have generated a debt on the Nationwide card anyway. I've heard before of strange possibilities with the Asda card but never looked further into them. Have applied for this card last week but their site crashed right at the end... tried again at the weekend and now waiting for a decision.

kempiejon
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Re: Best Spending Card to back up Amex Cashback?

Postby kempiejon » Wed Jan 27, 2016 9:32 am

Sarah,

Your post made me look again at the rest of the thread and I had got the wrong end of the stick. It's the nationwide card being used to settle the Asda credit card bill. The nationwide card does have an intro fee-free period for BTs. It does offer 0.5% cash back but only for sterling purchases so it looks odd that the Asda card settlement has been treated as such to attract the cash back. One can use the intro free BT to fast stooze but it's no different to any other card then. Cash back on Asda is the loophole
Here's Nationwide t&cs http://www.nationwide.co.uk/products/cr ... ndbenefits

planteria
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Re: Best Spending Card to back up Amex Cashback?

Postby planteria » Wed Jan 27, 2016 5:45 pm

Sarah wrote:..I've heard before of strange possibilities with the Asda card...


like a true Stoozer :lol:

earning some cashback by spending on the Asda card is good stuff, but nothing, in itself, better than other cards on the market. if this is working as it seems to be, then the point of difference, it seems to me, is Asda Money's system for receiving payments. it would seem that they accept credit card payments rather than just debit card payments, and that they are treated, by the card provider, in this case Nationwide --but i suspect that might not matter, as purchases. :geek:

joker
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Re: Best Spending Card to back up Amex Cashback?

Postby joker » Mon Feb 22, 2016 10:22 pm

Any new news on the Asda offering? I'm planning my Q2 activities and currently this is on my maybe list, so I'm keen to have any more info to push it one way or the other!

Sarah
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Re: Best Spending Card to back up Amex Cashback?

Postby Sarah » Tue Feb 23, 2016 10:13 am

I used my new Asda card for the first time this morning... it'll be awhile longer before I make any payments. I'm happy to collect the £25 cashback and hold it as a backup 0.5% cashback card, regardless of any other purpose.


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