Consumers urged to pay with reward credit card - Credit cards - News - Moneyfacts


Consumers urged to pay with reward credit card

Consumers urged to pay with reward credit card

Category: Credit cards

Updated: 31/10/2008
First Published: 20/10/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Shoppers should consider using a reward credit card to cover the cost of their household payments, it has been suggested.

According to American Express Platinum Cashback Credit Card, by paying for goods with a debit card consumers are missing out on the chance to earn hundreds of pounds of free cashback a year with a reward credit card.

This advice is of particular importance in the current economic climate, the firm stated, as 89 per cent of people are paying more for their household costs than they were a year ago.

Vice president of UK lending at American Express Tom Allder said: "Simply by changing the way they pay for these items, people could be earning themselves hundreds of pounds of free cash."

The company added that each household could earn £380 cashback in the first year of owning a reward credit card.

Last week UK payments association Apacs revealed that students are more likely to pay off their credit card balance than the rest of the general population.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Top credit cards for Christmas spending

‘Tis (just about) the season to be jolly, but before all that festive fun begins, chances are you’ve got a bit more shopping to do. But, if you’re turning to credit to fund things, you’ll want to use cards that offer 0% interest deals on purchases.

Spooky reality of high balance transfer fees

Credit card debt is scary at any time of year. While most might assume that opting for the longest deal on offer would save them the most, our data shows some of the longest deals can actually work out to be the most expensive.

Reward credit cards that become ‘pointless’

If you regularly use cards to pay at the till, you may have considered opening a reward credit card to earn points every time you spend. However, not all of these cards are as rewarding as they may seem…