Credit Cards

[rosyposy]

I am thinking of getting an Amazon Credit Card (MBNA) to use for all my purchases so I can build up points. What I am wondering is, if I use it in the supermarket and get 'cash back' will I incur an interest charge as you would at an ATM? TIA rosy

[grasscarp]

As far as I know you cannot get cash back on a credit card in a supermarket, only on a debit card.

[boxtops]

Unless the card has a zero per cent cost for purchases for an initial period, then yes, all purchases incur interest. Incidentally taking cash out on any credit card by ATM is a hideously expensive way of drawing money - cash withdrawals usually attract a far higher interest rate than purchases. I have a couple of MBNA cards (they were with other people but were taken over by MBNA) and I find them one of the most expensive rates of standard interest around - I only ever use them these days to do zero per cent balance transfers if I need to.

[alexanderd]

never use a credit card to draw cash it costs a fortune usually at least 10%

[craft1948]

Do you use Amazon a lot?
I have a Tesco credit card as I shop there a lot, and get points on all my purchases elsewhere.

[rosyposy]

Oh right, I never thought of that grasscarp. Back to the drawing board then. Thank you for your reply ,rosy

[rosyposy]

Thank you for all your replies. I never ever pay interest on a credit card,and never use it for cash at an ATM, hence the question. I don't shop much at Tesco, Craft, just petrol mostly, but maybe find out more about their card anyway. Thank you all again, rosy

[Whoever]

Where do you do most of your supermarket shopping? If you use Waitrose, consider taking out a John Lewis partnership credit card which gives you more points for every product you buy at John Lewis or Waitrose, and a lower level of points for credit card usage with other suppliers. When you points reach a certain level you are sent a £5 John Lewis voucher which can't be spent either in John Lewis, or in Waitrose.

[rosyposy]

Thank you for your reply, whoever. We don't have a Waitrose or a John Lewis within 45miles of us, I'm afraid. I shop mainly at Sainsbury's, I have a nector card so I could look at their credit card and see if they have any similar 'perks'that you have mentioned. Thanks again, rosy

[boxtops]

I'm sure you'll get discount vouchers if you take the Sainsbury's card - I have a Tesco card and not only do they send me the points regularly, in cash vouchers, but they also send special offer vouchers against the items I buy regularly.

[rosyposy]

Thank you too, Boxtops, yes I will see what they offer, I certainly don't get any perks which are of any use to me from Barclaycard! rosy