It's not the fact it's free money as you say, it's the big hit on credit file history if you apply for yet another credit card. Basically is it worth it for such a small amount of cashback over 5 weeks worth of fuel? unless your business uses £1000+ a week which mine doesn't I can't see it being worth it. Personally I have as little as possible credit searches done because one day I may really need an important loan and don't want to ruin my chances of getting it by silly credit card offers like this and lenders maybe thinking I'm relying on finance to survive. If I were to recommend a credit card it would be a zero interest balance transfer card over as long as possible time.
fair enough but most people don't earn enough (myself included) to open the select account in the first place to be able to close it later. You're right about the lounge access .. if you fly regularly. For me twice a year is fine as that covers my main family holiday. Just throwing out another option since many people won't meet the eligability to go for the santander one.
Amex gold not good for me as you only get 2 lounge visits per year, also I got rid of the select account and you can still keep the credit card open. If you spend to get the cashback each month it offsets the fee. But if you don't use the airport lounges then probably not that good you're right
yeah you only need to be earning £90,000 a year to be able to pay in the £5,000 a month required to be a santander select customer which is required to get that credit card and has another £5 fee a month so you'd be paying £20 a month or £240 a year. American express gold has pretty much the same benefits, membership rewards for every £1 spent which can be exchanged for many things like Amazon vouchers, it has lounge access too and many retailer offers and for the first year there's no fee at all then it's £140 if you don't cancel it after a year... much better than Santander £240.
Cheers! I'll look into it.