Incentives on Credit Cards

[MikeH]

A lot of people use credit cards each month to pay for all of their expenditure and then pay off the balance in total. There are often incentives provided that can actually mean that you are profiting from this. I believe that accucard give 0.8% cash back on transactions. However, this is only paid out once a year. Are there any other cards that give good rewards or cash back incentives for people who clear their debt each month?

Mike.
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[iFinancialAdviser]

You can get mileage for your flights, but I don't think paying in full at the end of every month is required.
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[Orion]

Hmmm i dont think i have seen before cards that offer a bonus if you pay your card out each month. I dont see how it would be a benifit to them to offer this as they would only be getting from you the small yearly membership fee which for a big spender wouldnt cover this.

I know it is quite easy to profit from having a credit card and paying it out each month from the frequent flyer miles or the bonus points you can accumulate, especially if you are a big spender it can make a lot of sense to put everything on the card and then pay it off.
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[MikeH]

They use a sliding scale. If you want higher cash back then the potential interest rate is higher if you do not repay it. The lower the cash back, the better the interest rate. I'm not sure on the annual fee, I think that it is £10. I imagine that they make money from people not always clearing the debt.

Mike.
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[jukemann]

I use a couple cards and pay them off each month but you don't get any added bonus for doing so just rewards for the amount you purchase. I typically use travel reward cards b/c they typically are better overall value than the cash back rewards. But these reward cards do have a higher rate of interest if you do decide to cary debt over to next month (one of the disadvantages if you don't pay it off.)
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James
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[Orion]

Hmmm, i am guessing that Credit Card companies in Australia just dont really want to offer the cash back.

I am having to get a credit card soon to help continue running my business while i go back to full time employeement. It is going to be the best of both worlds financially it may be a little hard to actually keep both going properly though. But i think that i am just going to get a basic card that probably wont have the benfits some do.
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[petertdavis]

My business card gives me a percentage cash back. My personal card gives me a percentage in gift certs to Toys R Us (I have a small kid, lol).

[altyfc]

I am only interested in % cashback cards. I think there are a number out there that give 1% but the problem is they often cut this at a later date, with the expectation that you won't bother to change.

Aaron
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[jukemann]

[altyfc]

Interesting, James... can you use those points in conjunction with any offers the hotels may be running, though?

Aaron
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[MikeH]

The egg card aparently gives 0.5% cash back. However, if you buy a lot of music online, use last minute dot com, currys electrical retailer and other stores then you get 5-10% cash back which could be really useful.

Mike.
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[jukemann]

[Darksat]

They tend to be with a limited number of places though.
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