Will be spending £2500, which reward credit card to get? - HotUKDeals
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Will be spending £2500, which reward credit card to get?

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Hi everyone, looking for some financial advise. As I'm about to spend around £2500 as a deposit for a car (PCH). I'm looking to see if there's any benefits/rewards/cashback for opening a new card a… Read More
ronzza Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
Hi everyone, looking for some financial advise.

As I'm about to spend around £2500 as a deposit for a car (PCH). I'm looking to see if there's any benefits/rewards/cashback for opening a new card and spend on it.
For example, a soft search on MSE shows I can get the American Express reward cards but no good because the car dealer doesn't accept Amex?! (is this normal for car dealers? or they telling me lies because of higher Amex fees for them?)

So I'm wondering if any of you would know any alternatives?

Thanks in advance :)
ronzza Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
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Responses/page:
#1
Don't forget, you will need to wait 1-2weeks minimum for the card to arrive.
Barclaycard do a 0.5% cashback card, but this would be £12.50. If you don't mind points for airlines/supermarkets you might be better off with one of their cards - they are usually Mastercard or Visa...
#2
I'm pretty sure the dealer will add a surcharge if you pay by credit card.
#3
Caulcano
I'm pretty sure the dealer will add a surcharge if you pay by credit card.
and if they don't they might offer a discount for paying with debit card. Worth asking
#4
I'm interested to hear the answers since I spend a very large amount of funds on my credit card each month. I've acquired over 50,000 Avios points but nothing to do with them at the moment.

Edited By: joshp on Nov 30, 2016 13:27
#5
I used to get 1% back with bank of America, but after that stopped I moved to Capital One's 0.5%.
#6
If this is for the initial payment on PCH then usually goes via the direct debit setup by the finance company. No card option. From my experience.
#7
R0B
If this is for the initial payment on PCH then usually goes via the direct debit setup by the finance company. No card option. From my experience.
Yes, agreed.

OP, you'll probably be charged 1% or 2% for paying the upfront amount on a credit card - wiping out any benefit.

And even if there isn't a fee, I would be cautious of your credit rating. In the space of a few weeks you'll be taking out credit of say £10k-20k for a car, then also asking for £3k on a credit card... I'm not scaremongering to say that it will definitely impact you, but I probably wouldn't bother for £20-30 in 'rewards'.
#8
Thanks for the replies.
It does look like I cant do much with it.
What I've done is just switching my bank, for the bonus and so on, better than nothing.

Just to clarify, because its a PCH with monthly payments + initial deposit. (I will be paying the deposit by debit card so shouldn't have extra fees?)
What is this 'taking out credit' you mentioned?
I did have a credit check at the same time as when I placed the order back in Sept, went fine, no issues. Was that to check I can afford the monthly payments or the cost of the whole car or what is it?

Edited By: ronzza on Dec 12, 2016 13:28
#9
If it's PCH you won't have the full value of the car on your credit file. You are only liable for the payments through the PCH period - like 23 months.

I think monogram is confused with PCP where you are borrowing the full car amount.

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