Can I have some advice on large (?) payments???

Posted by Evening-Concept-4454@reddit | AskUK | View on Reddit | 6 comments

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thisisgettingdaft@reddit

Some credit cards give vouchers, eg Marks & Spencer. Some give cashback, usually 1%. Look up credit card rewards. You can open a Chase account without switching from your current account (I think) and they give 1% cash back on purchases if you pay a certain amount in each month. This would also give you a spare account to take advantage of switching bonuses in future.

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One_Loquat_3737@reddit

For small pick-it-up-soon purchases I use my debit card, but for something larger like a holiday I prefer to book it via the credit card and then quickly pay off the balance to avoid interest. If the holiday company goes bust (and they do frequently) you can get your money back from the credit card company relatively easily whereas on a debit card it's effectively lost. I look at it as free insurance against loss.

This isn't quite what OP asked, but it's maybe a unexpected benefit. There's more here https://www.gocompare.com/credit-cards/credit-card-protection/

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Ben750@reddit

I stooze my interest free credit card. It doesn't make me a fortune but it's free money. I only do one card at a time. You've got to make sure you don't end up in debt, if you're bad with money stoozing isn't for you.

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ASY_Freddy@reddit

Assuming you have the £500 in your account then you could use a credit card that gives rewards to make the payment and then pay it off; £500 won't get you much as typically sign up bonuses are in the thousands for a couple of months.

An easy way to get some extra is to work through the account switching deals.

Reward cards are looking into assuming you'll pay it off each month

Cashback sites can be rewarding too depending on where you shop

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Ultiali@reddit

Unless you can pay for the holiday via gift cards for that company, which you can often get at a discount, then the best option would be a prepaid debit card where you get a small percentage back. I use uphold which gives 1% back.

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