Author Archives: Maria

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Maximise Rewards on Your Credit Cards

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Credit card rewards are, at the very least, extremely nice to have. They can also give a genuine boost to your finances or be that factor that makes you choose one provider over another. But you don’t have to just passively accept the rewards as they come. With a little extra effort, you can maximise the rewards in order to draw the very greatest benefits from your card.

Combining With Separate Offers

Get a little extra reward in the first instance by looking at other offers and types of reward that you can combine with your card. For example, it may be possible to make your application through a cashback website. This will give you cash upon your application being accepted, above and separate from whatever rewards may come with the card. It is possible there may also be special offers for taking out a credit card with the bank you already hold a current or savings account with.

Making the Most of Cashback on Spending

Many cards offer rewards in the form of cashback on spending. Often, this reward is only valid for spending up to a certain value or for a certain time after you first take out the card. It is important, therefore, to make the most of this offer by spending the full value if at all possible, and doing so while the cashback offer is still in effect. If you have any big purchases coming up like car insurance renewal and you were planning to pay cash for them, it can instead be worth putting them on your card in order to get cashback. You can then quickly repay the balance with the cash you were going to use for the purchase, and therefore avoid interest.

Gift Vouchers and Material Gifts

If you are given a gift voucher for a shop you do not normally use, then it might be possible to get more benefit out of it than you would from simply going to the shop specifically to use the voucher. It might be possible to turn the voucher into cash that you can spend wherever you like by selling it to somebody who does shop their regularly. Ideally, you will be able to make a deal with a friend or family member to exchange it for its cash value directly. They lose nothing because they shop there anyway, and you gain flexibility in your spending. However, it may even be worth selling it for slightly less than the credit is worth. For example, if a card comes with a £100 M&S gift voucher and you do not normally shop there, it is likely you could do more with £90 or £95 in cash at your normal shopping destinations than you could with the voucher, and you may well find somebody willing to pay this much. There are also companies that buy your vouchers, but they tend to pay disappointing rates.

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New Vauxhall Rewards Card Is Launched

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It’s quite common for buyers to use a credit card to pay for some or all of the cost of a vehicle, but it’s now even more beneficial to do so as a new credit card partnership between Capital One and Vauxhall offers the chance to earn money off the cost of a new car or van via a rewards credit card. It’s worth noting that  there isn’t much point in getting this card if you’re not a fan of Vauxhall vehicles, but you will definitely enjoy this offer if you are. The Vauxhall Rewards credit card could provide you with Reward Points that could shave up to £1,500 off the purchase of a new Vauxhall, depending on the model you go for. In order to gain advantage of this offer and obtain the card, you’ll need to be aged 21 or over, have an excellent credit history and earn at least £20,000 a year.

The Rewards system is actually very simple; every Reward Point earned is worth £1 off the cost of a new Vauxhall vehicle, And similar to many reward and cashback credit cards at the moment, the Vauxhall Rewards card offers a higher initial rate of rewards. In this case, you can initially earn Reward Points worth 6% of the value of what you spend, although this is capped at either £3,000-worth of spending or the end of your first three months of having the card, depending on whichever is reached first. It’s made clear that you can earn a maximum of 180 Reward Points after which the rewards value then switches to 3% of the value of your purchases.

In order to earn the maximum £1,500 discount, you would need to then spend £44,000 on your card before the end of your fourth year, because the points expire at the end of four years. Depending on how much you spend monthly on food, entertainment and holidays, that figure is not entirely out of reach. Membership of the Vauxhall MasterFit Service Club is also offered with the card. In addition, no interest will be required to pay on purchases for the first six months that you hold the card. If you don’t pay off your balance in full each month, the card has a representative APR of 17.9%, and obviously paying interest will soon wipe out the value of the rewards points you’ve earned.

The Rewards Points that you are allowed to spend are capped depending on the model from 500 on the ADAM and Agila to the maximum 1,500 on the Ampera and Insignia. Bear in mind, with Vauxhall’s new ADAM model going for around £10,000, £500 is only a small dent in the price.If you love to spend and also love the idea of a new Vauxhall then this card might be appealing due to its fairly generous rewards points.