Massive cashback offer on new credit card

The credit card business is getting ever more sophisticated. There are now more variations on the plastic credit theme than you can shake a stick at.

And what inevitably happens with this kind of proliferation is that companies target specific types of people with their offers- so no one card can any longer be described as the ‘best deal’.

If you always pay off your balance each month, then interest rates are an irrelevance. Maybe you’re one of those well-organised people who never pay interest on their card. And maybe you think that means you can’t benefit from a card switch. Not so!

Many cards offer cashback of 0.5% to 1% on all purchases. And one of the latest card newcomers offers a cashback rate of 1.6% on all your spending on its card for the first six months- after which it reverts to a ‘normal’ rate of 0.8%.

Perhaps you’ve got some big spending coming up. Perhaps over the six months you’d clock up £5,000 on the card. So you could collect £80 back. Sounds like money for nothing to me….