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Reward credit card should be considered to pay

Reward credit card should be considered to pay

Category: Credit cards

Updated: 23/01/2009
First Published: 23/01/2009

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 It is now over 6 months old so the content may be out of date.

Taxpayers choosing to make payments using plastic have been advised to consider using a reward credit card.

HM Revenue & Customs is now accepting tax payments made in this way and Which? has suggested that those providing cashback could be the best option.

However, the consumer campaign group noted that using a credit card will incur a 1.5 per cent charge, unlike debit cards.

And it urged consumers to check with providers that they will be eligible for rewards, as some may treat tax payments as cash advances.

This could mean that interest-free periods do not apply and that higher rates are charged, Which? explained.

Last month Egg stated that a reward credit card could be beneficial for those choosing to shop online.

Spokesperson Vanessa Wood observed that although consumers making purchases over the internet are recognising benefits such as insurance and fraud protection that come from these forms of finance, many are missing out on offers such as cashback.

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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